BSc Actuarial Science

General

Program Description

Overview

The BSc Actuarial Science programme is designed for students who are keen on solving real world problems involving risk and uncertainty using mathematical tools. You will learn how to predict future uncertainty, and to analyse and evaluate potential risks.

The actuarial profession involves the application of mathematics by probability and statistics tools to analyse risk for future uncertainty.

Why Should I Study Actuarial Science at XJLTU?

  • You will be trained and prepared for the professional actuarial exams required for international certification and licensing
  • XJTLU's location in Suzhou, close to China's financial centre Shanghai, provides you with the opportunity to undertake internships and work placements at Fortune 500 companies
  • Earn two degrees: an XJTLU degree from the Chinese Ministry of Education and a globally recognised degree from the University of Liverpool, a member of the Russell Group of leading UK universities
  • Actuarial programmes at the University of Liverpool have accreditation from the Institute and Faculty of Actuaries, the professional body for actuaries in the UK

Knowledge and skills

By the time you graduate from BSc Actuarial Science, you will:

  • understand key areas and skills of actuarial sciences
  • have a thorough understanding of mathematics, probability and statistics
  • be able to analyse risk in real-world situations.

Modules: Year One

UK degrees are three years long whereas in China they are four, therefore we do accept students with certain qualifications directly into Year Two, which is the start of the main academic programme. Most students, however, enter into Year One, which provides you with a range of interesting modules, language classes and core skills for your degree.

Modules: Year Two

Compulsory modules:

  • Theory of interest
  • Introduction to financial accounting
  • Principles of microeconomics
  • Foundations of financial computing
  • Introduction to probability and statistics
  • Principles of macroeconomics
  • Introduction to finance.

Elective modules:

  • Advanced linear algebra
  • Analysis I.

Modules: Year Three

Compulsory modules:

  • Life insurance mathematics I
  • Sampling and hypothesis testing
  • Mathematical risk theory
  • Statistical distribution theory
  • Introduction to financial mathematics
  • Life insurance mathematics II.

Elective modules:

  • Econometrics I
  • Financial reporting I
  • Security market
  • Macroeconomics II.

Modules: Year Four

Compulsory modules:

  • Credibility theory
  • Loss distribution
  • Linear statistical models
  • Stochastic modelling in insurance and finance
  • Applied probability
  • Final year project.

Elective modules:

  • Econometrics of time series
  • International trade.

Careers

Graduates are usually employed as actuaries. They work for the insurance industry to calculate costs and determine the premiums. Actuaries also work for banks to develop derivative products, manage risk and forecast the future. Actuaries provide services for governments and oversee public companies to ensure compliance with regulatory laws.

In recent years, there has been an increasing trend to recognise actuarial skills that can be applied to a range of roles outside the traditional fields of insurance, such as agriculture and weather forecasting.

Entry Requirements

Entry into Year One

We welcome applications from high-quality candidates in all subjects with appropriate high school or equivalent qualifications. Students will normally be expected to have a high standing in their high school performance with a minimum ‘B’ average in all subjects as well as relevant subjects.

Entry into Year Two

Students who have completed A-levels or International Baccalaureate (or equivalent) will be considered for entry into Year Two, different programmes have different subject-relevant requirements.

  • A-level: BBB
  • IB Diploma: 30 points
  • Advanced Placement Tests/Subject SATS--High school diploma with a GPA of 3.0 or above, plus:
    • Redesigned SAT: 1280+ (students that took the SATs previous to 2016 will require 1800+) or ACT: 27, and 2 AP examinations: 4+ or 2 SAT subject tests: 600+ or
    • 3 AP examinations: 4+ or
    • 3 SAT subjects: 600+
Last updated Jan 2019

About the School

Xi’an Jiaotong-Liverpool University (XJTLU) is an international joint venture university founded by Xi’an Jiaotong University in China and the University of Liverpool in the United Kingdom in 2006. ... Read More

Xi’an Jiaotong-Liverpool University (XJTLU) is an international joint venture university founded by Xi’an Jiaotong University in China and the University of Liverpool in the United Kingdom in 2006. Read less