Admission to BSc Actuarial Science : Costs, Requirements, Subjects, and Salary

Admission to BSc Actuarial Science : Costs, Requirements, Subjects, and Salary

Admission for BSc Actuarial Science 2023–24: A three-year undergraduate program leading to the BSc in Actuarial Science consists of six semesters. Students learn about the fields of finance and statistics in this course as they prepare to examine unpredictable futures. This course focuses on statistics and mathematics and provides answers to questions about how likely an event is to occur. Graduates with this degree are responsible for calculating losses for any sector, company, or person that occur for any reason. Their graduates can find employment in the banking, insurance, and finance departments.

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Bachelor of Science in Actuarial Sciences, Full-Form

Merit-based/entrance exam selection process

Qualifications: 10+2 with a 50% grade from an accredited board.

Average Fee: 50,000 to 3 lakh Indian Rupees

Paid between INR 2.5 LPA and INR 15 LPA in salary

Leading employers include Bharati Shipyard Ltd., Towers Watson, Max Bupa Health Insurance, Mercer, WNS, PwC Actuarial Services India, and others.

Top Job Profiles: Financial analysts, risk managers, budget analysts, economists, auditors, cost estimators, etc.

Highlights of BSc Actuarial Science Admission

Course NameBSc Actuarial Science
Admission ProcessAdmission Through the Entrance Exam
Full-FormBachelor of Science in Actuarial Sciences
DurationCourse Duration is 3 Years.
Average Salary OfferedINR 2.5 LPA – INR 15 LPA
Average Fees IncurredINR 50,000 – INR 3 Lakh
EligibilityThe minimum qualification required is 10+2 with 50% from the recognized board.

Admission to BSc Actuarial Science 2023–24

The three-year bachelor’s degree in actuarial science program covers topics such as insurance premiums, investment, economics applications, and mathematical analyses for financial planning.

Actuarial Science BSc Admission is dependent on merit. Universities and colleges compile merit lists based on individuals’ results in the 10+2 exam. Calculating insurance risks, the cost of designs, finances, pensions, administration, etc. requires taking BSc actuarial science courses that include mathematics, economics, computer science, and statistics.  Candidates who want to pursue actuarial science must pass the 10+2 test.

You will receive in-depth material to aid in the development of your mathematical skills in the BSc Actuarial Science degree. This course’s application to financial firms is very broad. Students are completely knowledgeable about how businesses function. A professional in this course is capable of resolving issues that have arisen in the business and insurance sectors.

Actuarial science uses mathematical skills to social sciences to address important difficulties for insurance, government, commerce, business, and academic scholars. The Bachelor of Actuarial Science program lasts three years. Amity University, Jain University, and other well-known universities provide admission to BSc Actuarial Science programs.

The curriculum for the BSc in Actuarial Science covers topics like Risk Management, Insurance, Economic Risks, Mathematics, Statistics, Accounting, etc.

Qualifications for Admission to BSc Actuarial Science

Merit-based and entrance-based BSc Actuarial Science Admission are both available for this course. Each candidate must have received a 50% grade in 10+2.

Additionally, their prior education must have been in the science field.

A university admission exam is used to choose students at these schools and others.

Fee Structure for BSc Actuarial Science Admission

The costs for a BSc in actuarial science vary. Depending on the organization giving the training. Typically, this training costs between INR 50,000 and INR 300,000 annually.

Salary Provided

The compensation packages offered to actuarial science graduates are satisfactory. The typical compensation ranges from INR 2.5 LPA to INR 15 lakh annually. Actuaries, mathematicians, economists, risk managers, financial analysts, auditors, cost estimators, budget analysts, accountants, insurance underwriters, etc. are among the professions.

Employer Sectors

The most well-known industries for employment include banking, investment, actuarial, consulting, and stock exchanges. PWC Actuarial Services India, Max Bupa Health Insurance, Bharati Shipyard Ltd., WNS, Towers Watson, and Mercer are some of the associated industries in India.

Different Courses

The full-time version of this program is available. It lasts for three years.

Online/Part-Time: There is currently no policy in place for an online/part-time course. For this course, there is no distance learning available.

Examinations for Admission to BSc in Actuarial Science

CMAT, or Common Management Admission Test

(CAT) Common Admission Test

Admission Syllabus for Actuarial Science in BSc

Semester I
Mathematical FunctionsProbability & Statistical Methods
General Insurance – IUnderstanding Self for Effectiveness
English Language Usage EssentialsApplication of Calculus in Actuarial Science
Analytical Geometry of 2 DimensionLife Insurance – I
Numerical Methods & ApplicationOpen Elective Courses
Semester II
Country Report (SAP Courses)Modern Trends & Innovative Solutions through Technology Management
Foundation of Regulation of Insurance BusinessActuarial Application in IT – I
Understanding Business Environment in Global ScenarioCreating Global New Ventures
Probability & Statistical Methods-IIManagement Foundation
General Insurance – IIIntroduction to Communication Skills
Individual Society and NationMethods of Applied Mathematics
Foreign Business LanguageLife Insurance – II
Semester III
Minor Project – INew Leadership in Cross-cultural context
Strategizing using InnovationActuarial Application in IT – II
Business Research Methods in Global EnvironmentActuarial Accounting – I
Probability & Statistical Methods – IIITime Value of Money
Problem-Solving and Creative ThinkingCountry Report (SAP Courses)
Effective Written CommunicationSampling Techniques
Introduction to Health InsuranceActuarial Economic Models-I
Semester IV
Creating Global New VenturesUnderstanding Business Environment in Global Scenario
Emergency Response to Life-saving SkillsActuarial Application in IT – III
Liability InsuranceInvestment Project Appraisal
Actuarial Accounting – IIModern Trends & Innovative Solutions through Technology Management
Probability & Statistical Methods-IVValues and Ethics for Personal and Professional Development
Fundamental of Life Insurance UnderwritingForeign Business Language
Professional Communication for Recruitment and EmployabilityPrinciples of Finance
Semester VSemester VI
Outdoor Activity-Based CoursesOutdoor Activity-Based Courses
Foreign Business LanguageForeign Business Language
Open Elective CoursesOpen Elective Courses

Suggested University for Bsc Actuarial Science Admission in India

University NameStateType of University
Christ UniversityBangalorePrivate University
V. O. Chidambaram CollegeTamil NaduPublic University
Annamalai UniversityTamil NaduState University
Mumbai UniversityMaharashtraState University
Banas thali VidyapithRajasthanPrivate University

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