Actuarial Science Admissions 2024

Actuarial Science admissions process depends primarily on the entrance exams. Actuarial Science entrance exams are required for both undergraduate and graduate admission to Actuarial Science courses. Depending on the student's level of education, the Actuarial Science course duration may change. To be eligible for Actuarial Sciences Courses, candidates must have completed 10+2 with mathematics from a recognised board. The typical Actuarial Science course fees for various degrees differ accordingly. Graduates may pursue careers after Actuarial Science as Risk Managers, Auditors, Economists, Cost Estimators, Financial Analysts, and others in related fields.

Actuarial Science admissions are offered to all students who want to apply their Mathematical skills with an understanding of Finance, Economics, and Business in real life. It basically helps access future risk and uncertainty in financial sectors. Actuarial science offers intellectually stimulating work, strong career prospects, and competitive salaries. 

Various undergraduate and postgraduate courses have been introduced to all aspirants to pursue their chosen subject. These courses include a BSc in Actuarial Science, an MSc in Actuarial Science, and an MBA in Actuarial Science. Read on to know more details on Actuarial Science admission 2023.

Some of the Actuarial Science Admission highlights are as follows:

Here is a table showing different types of courses for pursuing Actuarial Science:

Actuarial Science first year syllabus:

Actuarial Science second year syllabus:

Actuarial Science third year syllabus:

Actuarial Science Admission 2023 eligibility criteria is as follows:

For Certificate Courses

• Candidate should have passed 10+2 with very good marks in math/statistics
• Candidates should be a graduate in math/statistics/econometrics with a minimum 55% marks
• Members of professional bodies like ICAI, ICWAI and IFAI are also eligible

For Diploma Courses

• Candidates must have a graduation degree in Mathematics, Statistics, Engineering or related fields from a recognized university
• Candidates who are in the final year of their graduation can also apply

For UG Courses 

• The candidate must have passed 12th with a minimum of 60% from the recognised board
• English must be one of the required subjects

For PG Courses 

• Candidates must have a BSc/BCom degree with a minimum of 50% overall
• Candidates should, however, have mathematics and statistics as two of their core courses at graduation

Candidates can apply for Actuarial Science courses by following the steps outlined below:

Step 1: Look into the Actuarial Science admission form requirements and deadlines listed by various colleges and universities if you want an admission to a Actuarial Science programme.

Step 2: Register for the entrance exams required to get admission to the colleges and universities you want in actuarial science.

Step 3: Save the application procedure for later use after confirmation. Additionally, keep an eye on the test or the university's official website for admission updates and other important notifications.

Step 4: Candidates must complete an application form for their desired university after taking and passing the Actuarial Science entrance examination and providing personal information such as academic information, entrance examination results, and so forth.

Step 5: Candidates who satisfactorily satisfy the university's eligibility requirements are shortlisted for the counselling round (if any), which finalises the admissions process.

Step 6: Candidates must pay the university's entrance fee in order to confirm their admission to the Actuarial Science course after passing the counselling session.

Actuarial Science selection process is based on the results of an entrance exam, class 12 and 10 marks, and graduate degree marks obtained to the level of Master of Actuarial Science. The college or university assigns seats to applicants based on Actuarial Science requirements that applicants must meet, as well as those recommended by college or university officials after a written exam, in-person interview, counselling session, and group discussion.

The following are a few of the entrance exams that must be cleared to be able to get admission to top colleges and universities that offer Actuarial Science programmes. 

ACET is one of the major Actuarial Science entrance exams conducted three times a year. The exam revolves around 3 stages; CT, CA & ST. It is essential to clear all the 3 stages to get the IAI (Institute of Actuaries of India) credentials of an actuary. The candidate who passes 10 exams qualifies as an Associate and the candidate who clears all exams qualifies as a Fellow of IAI.

Note: After passing ACET, the qualifiers must apply for membership within 3 years.

Here is a list of the required documents for Actuarial Science admission:

• Class 10th Marksheet 
• Class 12th Marksheet 
• Identity Card (Aadhar Card, Voter Id, Pan Card, etc.)
• Caste Certificate (If required)
• Sport Quota Certificate (If required)
• Graduation Degree (if required)
• Application Form
• Application Fee Receipt

The following table shows the average Actuarial Science Admission Fees: