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    BSc Actuarial Sciences

    About BSc Actuarial Sciences

    Bachelor of Science in Actuarial Sciences is a 3-year undergraduate course designed for candidates who seek a career in the banking, investment and finance industry. The course comprises a diverse study of different fields of mathematics and statistics. Students are taught to decipher the economic pattern and market trends interns of figures and numbers. The course also comprises communication methodologies and study of risk management to teach the students how to prevent investment losses.

    BSc Actuarial Sciences Course Highlights

    Course Name

    BSc Actuarial Sciences

    Course Level

    Graduation

    Course Type

    Degree Programme

    Course Stream

    Science

    Course Duration

     3 Years

    Minimum Qualification Required

    10+2

    Selection Process

    Admission Through Entrance Exam

    Course Fee

    INR 50,000 - INR 3 Lakh

    Job Types

    Financial Analysts, Risk Managers, Auditors, Cost Estimators, Budget Analysts, Economists, etc.

    Salary

    INR 2.5 LPA - INR 15 LPA

    Why choose the BSc Actuarial Science course?

    The candidates can check the reasons why one should choose the BSc Actuarial Science course given below.

    • Candidates will have proficiency in solving investment issues and also in taking high level business decisions.
    • Candidates will have knowledge about stats, mathematical methods to assess finance and other financial related issues in BSc Actuarial Science course. 
    • Candidates  can learn core mathematical skills in the BSc Actuarial Science course. It is very important to find out the solution related to problems faced by government and commercial industries and insurance. It can be easily solved if a candidate pursues a BSc Actuarial Science course.
    • The actuaries can easily predict the interest rate in the stock market which is also very beneficial. In the banking sector, actuaries play a very important role.
    • The workload is very decent. The employees live a stress free life and jobs are easily available. BSc Actuarial Science  is a career oriented course.
    • There are several job profiles after pursuing BSc Actuarial Science course such as Budget Analysts, Financial Analysts, Risk Managers, Auditors, Economists, Cost Estimators, etc.
    • The salary starts from 3 Lakhs per annum which is a good figure for the job starters.
    • The employments areas for BSc  Actuarial Science graduates are Banking Sectors, Consulting Firms, Investment Sectors, Stock Exchanges, LICs, Actuarial Sciences, etc.

    BSc Actuarial Sciences Eligibility Criteria

    In order to get admission or apply for BSc Actuarial Sciences, candidates must meet the following eligibility criteria.

    • Candidates must have completed Class 12 or equivalent level of education from a recognised Indian Board. 
    • The minimum percentage required may vary but candidates must have scored at least 70 per cent marks in aggregate in the compulsory subjects. 
    • Candidates must have studied Mathematics or Statistics or any relevant subject as one of the compulsory subjects in Class 12. 

    Admission Process for BSc Actuarial Sciences

    The candidates can check the admission process of BSc Actuarial Science course given below.

    • The admission to BSc Actuarial Science course is done on the basis of an entrance exam. 
    • Some institutes conduct their own entrance exam whereas some participate in the national-level entrance exams.
    • One of the top entrance exams for the course is Actuarial Science Entrance Exam conducted by Institute of Actuaries of India.

    BSc Actuarial Science Top Colleges

    The candidates can check the list of top 10 colleges of BSc Actuarial Science given below.

    College Name

    Admission Process

    BSc Actuarial Science Fee (Average)

    Amity University

    Entrance based-Merit based

    INR 1,05,000

    Lovely Professional University

    Jalandhar

    INR 90,000

    Bishop Heber College

    Entrance based-Merit based

    INR 97,000

    Yashwantrao Chavan Maharashtra Open University

    Nashik

    INR 1,12,000

    Kavayitri Bahinabai Chaudhari North Maharashtra University

    Entrance based-Merit based

    INR 17,000

    Amity School of Insurance Banking and Actuarial Science

    Noida

    INR 1,05,000

    Jain University

    Entrance based-Merit based

    INR 1,24,000

    Chandigarh University

    Entrance based-Merit based

    INR 60,000

    University of Petroleum and Energy Studies

    Dehradun

    INR 3,92,500

    NIMS University

    Jaipur

    INR 40,000 per annum

    BSc Actuarial Sciences Syllabus

    BSc Actuarial Science Syllabus Year I

    Semester I

    Mathematical Functions

    Probability & Statistical Methods

    General Insurance - I 

    Understanding Self for Effectiveness

    English Language Usage Essentials

    Application of Calculus in Actuarial Science

    Analytical Geometry of 2 Dimension

    Life Insurance - I 

    Numerical Methods & Application

    Open Elective Courses

    Semester II

    Country Report (SAP Courses)

    Modern Trends & Innovative Solutions through Technology Management

    Foundation of Regulation of Insurance Business

    Actuarial Application in IT - I

    Understanding Business Environment in Global Scenario

    Creating Global New Ventures

    Probability & Statistical Methods-II

    Management Foundation

    General Insurance - II 

    Introduction to Communication Skills

    Individual Society and Nation

    Methods of Applied Mathematics 

    Foreign Business Language

    Life Insurance - II 

    BSc Actuarial Science Syllabus Year II

    Semester III

    Minor Project - I

    New Leadership in Cross-cultural context 

    Strategizing using Innovation

    Actuarial Application in IT - II 

    Business Research Methods in Global Environment 

    Actuarial Accounting - I 

    Probability & Statistical Methods - III 

    Time Value of Money

    Problem Solving and Creative Thinking

    Country Report (SAP Courses)

    Effective Written Communication

    Sampling Techniques 

    Introduction to Health Insurance 

    Actuarial Economic Models-I 

    Semester IV

    Creating Global New Ventures

    Understanding Business Environment in Global Scenario

    Emergency Response to Life-saving Skills

    Actuarial Application in IT - III 

    Liability Insurance

    Investment Project Appraisal

    Actuarial Accounting - II 

    Modern Trends & Innovative Solutions through Technology Management 

    Probability & Statistical Methods-IV

    Values and Ethics for Personal and Professional Development 

    Fundamental of Life Insurance Underwriting

    Foreign Business Language

    Professional Communication for Recruitment and Employability

    Principles of Finance

    BSc Actuarial Science Syllabus Year III

    Semester V

    Semester VI

    Outdoor Activity-Based Courses

    Outdoor Activity-Based Courses

    Foreign Business Language

    Foreign Business Language

    Open Elective Courses

    Open Elective Courses

    Important books for BSc in Actuarial Science Course

    The list of important BSc Actuarial Science books are provided below along with the names of author.

    Books

    Author

    Introduction to Actuarial and Financial Mathematical Methods

    Stephen Garrett

    Computational Actuarial Science with R

    Arthur Charpentier

    Introduction to Actuarial Science

    Harry Anson Finney

    Actuarial Statistics

    Shailaja R Deshmukh

    Introduction to Actuarial

    A.K.Gupta T. Varga

    BSc Actuarial Sciences Career Options and Job Prospects

    Actuarial science is the core of the banking and finance sector. It is a very important field as it covers risk management in the investment sector and estimates business prospects. Every investment, finance and banking organization needs actuaries to predict the stock market and interest rates basis which money is invested in the market. Actuaries also help organisations in predicting potential investment risks in order to prevent losses. Graduates in this field are always in demand and following are some of the jobs that you can pick after completing BSc in Actuarial Sciences.

    Some of the top employment areas and job profiles that candidates can explore are mentioned below. 

    Employment Areas
    • Colleges & Universities
    • Stock Exchanges
    • Investment Sector
    • Healthcare Units
    • Actuarial Sciences
    • LICs
    • Consulting Firms
    • Banking Sector
    Job Profiles
    • Actuary
    • Cost Estimator
    • Accountants and Auditors
    • Catastrophe Risk Analyst
    • Economists
    • Budget Analysts
    • Financial Analysts
    • Business Intelligence Consultant
    • Mathematicians
    • Insurance Underwriters
    • Investment Consultants
    • Postsecondary Teachers

    Salary After BSc Actuarial Science

    Actuarial Science is one of the highest paying fields in the BSFI sector and lucrative jobs are offered at graduate as well as postgraduate level. Freshly graduated candidates can expect a starting salary of Rs. 2.5 lakh to Rs. 5 lakh. Experienced professionals and MBAs in this field are also offered packages up to Rs. 15 lakhs.

    For better understanding, salary packages offered to candidates at different job profiles are mentioned below in the table. 

    Job Profiles Initial Salary Package
    Actuary INR 7 LPA - INR 8 LPA
    Budget Analysts INR 3 LPA - INR 4 LPA
    Accountants and Auditors INR 2.5 LPA - INR 5 LPA
    Cost Estimators INR 4.5 - INR 5 LPA
    Financial Analysts INR 3 LPA - INR 5 LPA
    Economists INR 6.5 LPA - INR 7.5 LPA

    BSc Actuarial Science Job Roles

    The candidates can check in details the job profile and their work below.

    Job Role

    Description of Work

    Salary of BSc Actuarial Science Graduates (Average)

    Actuary

    All the financial related activities are handled by Actuary as they analyze and also try to suggest the risks involved in the financial sector. They are usually found to be working in insurance sectors and pension programs. 

    6,00,000-7,00,000 per annum

    Budget Analysts

    Accountable for analyzing budgets that need to be invested in different departments. They help both public and private industries in organizing and maintaining their finances with the help of budget analysis. 

    3,50,000-4,00,000 per annum

    Economists

    Economists are responsible for analyzing the market trends and suggest proper ways of investment by doing a lot of market research. Also responsible for collecting and analyzing data of goods and services and evaluating economic issues.

    6,00,000-6,80,000 per annum

    Cost Estimators

    They estimate the total cost involved in any project. They also take care of the date, time and the number of laborers that are required to complete an assigned task. They estimate cost considering all the aspects. The cost of materials and the money required to construct a building, product, or for providing any service are estimated by cost estimators. 

    5,00,000-6,00,000 per annum

    Mathematicians

    Mathematicians are responsible for researching, understanding and developing mathematical principles required for any project. 

    6,00,000-7,00,000 per annum

    Insurance Underwriters

    Crucial for any organization. They are accountable for deciding whether to provide insurance service or not to the clients. They study the insurance policies and decide any kind of grant of insurance after going through all the terms and conditions that are provided by the company.  

    3,80,000-4,00,000 per annum

    Auditors and Accountants

    They do audits of all the funds that have been released by the organization to different departments. They examine and prepare all financial records and statements. They are responsible for maintaining all financial records and ensuring that all the taxes are paid in time. 

    2,30,000-4,00,000 per annum

    FAQs about B.Sc Actuarial Sciences

    What are the top colleges offering B.Sc - Actuarial Sciences courses ?

    Following are some of the top colleges offering Commerce and Banking courses : Stella Maris College (Chennai) , Indraprastha College for Women (New Delhi) , Rishi UBR PG College for Women (Hyderabad) , Narsee Monjee college of Commerce and Economics (Mumbai) , St. Xavier's College (Kolkata). You can explore these colleges on our website to check if they offer B.Sc - Actuarial Sciences or not.

    I want admission in B.Sc - Actuarial Sciences. Do I have to clear any exams for that ?

    Delhi University Arts , Andhra Pradesh Residential Degree Colleges Common Entranc Test , Indian Maritime University Common Entrance Test) , Madhya Pradesh Pre Agriculture Test , Aligarh Muslim University Entrance Exam are some of the exams that you can appear for to get admission in B.Sc - Actuarial Sciences courses.

    What is the average fee for the course B.Sc - Actuarial Sciences ?

    The average fee for B.Sc - Actuarial Sciences is INR 40,000 per year.

    What are the popular specializations related to B.Sc - Actuarial Sciences ?

    Some of the popular specializations for B.Sc. (Bachelor of Science) are : Marketing , Genetic Science & Chemistry , Mathematics , Health Information Administration , Microbiology.

    What is the duration of the course B.Sc - Actuarial Sciences ?

    B.Sc - Actuarial Sciences is a 3 year course.
    Show More

    Related Questions

    Is there a microbiology course
    -Hirunathpatir -Updated on Jan-12-202334 Answers
    t

    tanishka, Student / Alumni

    If you are looking for best university for http://B.Sc in biotechnology course,I would say Lovely professional University is best university. The curriculum has been designed in such a way that it makes it easier for the students to prepare themselves for giant exams like CSIR-NET, ICMR, ICAR, and GATE. With an experienced faculty of 30+ in the department who arw ready to help the students round the clock, seven days a week, this institute is one of the best options for the young population to opt for biotechnology. In addition to core curricula, course offers subjects like communication and soft skills to enhance personality and employability. She said,specializations may be offered in Dairy Technology or Fermentation Technology or Molecular Biotechnology (subject to minimum number of students and feasibility) The course offers specializations in Dairy Technology, Fermentation Technology and Bioinformatics.The curriculum offers prime focus on fundamental and applied aspects of biotechnology.Students can get a foreign degree through international collaborations (2 year in India and 2 years abroad or 2 year in India and 1 year abroad)
    N

    Navneet, Student / Alumni

    The application process for LPU is completely online. The LPU admission process includes filling in the application form, appearing for the LPUNEST entrance test, result declaration and fee payment. Given below is the admission process of Lovely Professional University. Step 1: LPU Application Process 2023 Candidates are required to follow the below-mentioned steps to fill out the LPU application form: Step 1.1: Visit the official website of LPU and click on the ' Apply Now' tab at the top of the web page. Step 1.2: Register on the official admission portal of LPU i.e. LPUADMIT (admission.lpu.in) with basic details such as name, email-id, mobile no., state, gender and password). The email id used during registration will act as the username for the portal and the password needs to be set by the candidate while registering. Step 1.3: Candidates can continue to apply for LPUNEST (for scholarship purposes). Step 1.4 Pay the application fee and hit on the submit button to complete the application process.
    R

    Rahul Raj, Student / Alumni

    Dear Student, 

    There are many B.Sc Actuarial Science Colleges in India that you can consider for admission. The following are some of the best colleges with outstanding placement records: -

    If you want to learn more about any college admissions process, please fill out our common application form; our educational experts will guide you through the admission process of the college. Please call our toll-free number 1800-572-9877 for FREE counselling if you have any doubts.

    Thank you

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