Mumbai University offering Bachelors and Masters in Actuarial and Quantitative Finance

Bachelors and Masters in Actuarial

A new actuarial science graduation course that has been launched by Patkar Varde College, the University of Mumbai which is very promising for an Actuarial student!

They have a course for Actuaries and Finance enthusiasts, finely designed and backed by industry professionals for Bachelors and Masters in ASQF (Actuarial and Quantitative Finance) for students of all streams. It prepares students for a diverse and fast-moving world of Insurance, Investments and Financial Market using Statistics, Actuarial models and Data Science.

A team of industry experts extends this diligently curated course to boost the professional careers of students’ in various advanced fields like Actuarial Science, CFA, CIAI and FRM.

Lets dive into the details!

Bachelors in Actuarial and Quantitative Finance – Full time, 3 years degree program.

In case you want to understand which Degree you should choose for Actuarial Science, you may want to look here. We have listed many aspects you should see to select a degree.

B.Sc. Actuarial Science:

CourseB.Sc. in Actuarial Science and Quantitative Finance
CollegePatkar- Varde College, Mumbai
DegreeUniversity of Mumbai
SpecialisationActuarial Science and Quantitative Finance
Duration3 Years
AccreditionInstitute and Faculty of Actuaries, UK (IFoA)
(CM1 , CM2, CS1, CS2, CB1 and CB2)
Eligibility Criteria10 + 2 (with Maths)
Entrance ExamQuantitative Aptitude Test (QAT)**
FeesRs. 1,99,000 per year (approx)

**QAT is a mandatory entrance test for admission to this institute which tests your Mathematical and Statistical skills (70% weightage) and English skills (30% weightage). The pass mark is 50% in this test.

After clearing the test, applicants will be screened for their interpersonal skills through a Personal Interview round which again carries 50% weightage. The exemption can be obtained from QAT if they have cleared ACET from IAI or any Actuarial exam from IAI or IFoA. More information on QAT can be found here.

In case you want to know more about on how to become an Actuary or what are the subjects you are taught by the Institute of Actuaries of India (IAI) or IFoA, read our article on how to become an Actuary

What is the course curriculum?

The course curriculum is perfectly divided into 6 semesters. It teaches you subjects like Calculus, Probability and Statistics, Finance, Life Insurance – Principles, Products and Practices, Algebra, Actuarial Modelling, Non Life Insurance- Principles, Products and Practices, Business Economics, Financial Engineering, Predictive Analysis, Machine Learning, Pricing and reserving for Life and Non Life products, IT Skills such as Excel, Python, R.

A detailed semester wise curriculum can be found here.
The curriculum not only focuses on academics but offers students practical exposure through industry projects and mandatory summer internships after the 2nd year, thus emphasizing on holistic development.

Is it worth to pursue Actuarial Science via colleges?

Yes, it is, if you want to save your time and focus your energy in one domain only, rather than struggling for passing your graduation exams and your actuarial exams, both having different syllabus. Though the options available to you are many which may make the choice extremely difficult, the good side of the same scenario is the diverse field that the profession offers to individuals where they can pursue a degree of their interest along with continuing growth in this profession by clearing papers.

What are the areas in which actuaries are employed?

The actuarial professionals are hired to work as :
1.       Budget Analysts for businesses.
2.       Pricing Analysts for various insurance and reinsurance products.
3.       Reserving Analysts for various insurance and reinsurance products.
4.       Financial Analysts
5.       Reporting Analysts
6.       Auditors

How is the course promising?

B.Sc. (Actuarial Science and Quantitative Finance) the degree program is the only program in India to get the accreditation from Institute and Faculty of Actuaries, UK (IFoA) for exemptions of upto 6 professional Actuarial papers. Please see link here to IFoA, UK web page mentioning a list of university programs exempted.

The faculty members are industry experts and Professionals some of them being qualified actuaries, associate actuaries, Chartered financial analysts, Chartered accountants’, Risk managers etc.

The program is deeply related to Actuarial and Finance so it can be a right choice for those who want to make career in Conventional and Non-Conventional fields of Actuaries.

The course provides an option of choosing an area of specialization in either Actuarial or Quantitative Finance field which is directional for students pursuing this course.

The course also promises students to give hands-on highly sophisticated IT tools which are widely used in the industry e.g. Excel, R, Python, Bloomberg Terminal etc.

Important Information:

This actuarial science graduate degree program is visible on the University of Mumbai admission portal. Please follow this link to verify and apply for the program.

It is also visible on the University of Mumbai website mentioning the list of the recognized degree program. Here is the University of Mumbai website link mentioning the same. Just input the following information:

Select State: Maharashtra
Select District: Mumbai Suburban
Select Tehsil: Boriwali
Select College: Chikitsak Samuha’s Sir Sitaram and Lady Shantabai Patkar College of Arts and Science and V. P. Varde College of Commerce and Economics

Note : This is a University of Mumbai admission. Once you login and fill the pre-admission online registration form you will get an option to select the course. There, you can select the course: B.Sc.(Actuarial Science & Quantitative Finance) under Patkar Varde College)

To apply for the course, or any further queries you can also get in touch with the university counselors on +91 9372777615 or mail on [email protected] / [email protected] to know more about it.

The Actuarial Club
A dedicated website to provide students with the latest news about actuarial and related domains and a website to help students in solving their problems and provide recent info about trends in actuarial

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