MSc Actuarial Science

at University College Cork

The Institute and Faculty of Actuaries (IFoA) have approved programme-level exemption status for this MSc Actuarial Science programme. This exemption refers to the first 6 Core Principles of the new 2019 IFoA curriculum (equivalent to 8 Core Technical subjects in the pre-2019 curriculum).
 

Students may be recommended for exemption from the Institute’s own professional examinations in up to 5 of these Core Principle subjects (equivalent to 7 exams in the pre-2019 curriculum) by performing sufficiently well in the corresponding examinations of the MSc programme. The IFoA exemptions covered are CM1, CM2, CB1, CB2, CS1 & CS2. UCC is one of the very few universities in Ireland which can offer students the potential to receive this level of exemption from the professional actuarial examinations.
 

Modules
 

PART I

Core modules (45 credits)

• ST6001 Theory of Annuities-Certain for Actuarial Science (10 credits)

• ST6005 Life Contingencies for Actuarial Science (10 credits)

• ST6015 Computer Analytical Techniques for Actuarial Applications (5 credits)

• ST6017 Application of Stochastic Methods in Actuarial Science (5 credits)

• ST6020 Actuarial Business & Financial Reporting Methods (5 credits)

• ST6022 Survival Methods for Actuarial Science (5 credits)

• ST6032 Stochastic Modelling Techniques (5 credits)
   

Elective modules (15 credits)

List A (CS1 modules): 

• ST6003 Probability and Mathematical Statistics for Actuarial Science (10 credits) and

• ST6018 Regression and Generalised Linear Model Techniques for Actuarial Science (5 credits) or
   

List B (CM2 modules): 

• ST6016 Applied Financial Risk Modelling and Analytics for Actuarial Science (5 credits) and

• ST6019 Application of Computational Methods in Actuarial Science and Risk Modelling (5 credits) and

• ST6023 Modelling & Risk Analysis for Actuarial Science (5 credits)
   

NOTE: The choice of electives must be agreed upon in advance with the programme coordinator.
 

PART II

Core modules (30 credits)

• PA6007 Market Analysis Methods for Actuarial Science (10 credits) and

• ST6009 Application of Core Technical Research Methodologies in Actuarial Science (20 credits)

• Minimum Second Class Honours Grade II in a primary honours degree (NFQ Level 8) degree in engineering, finance, physical or mathematical sciences, or equivalent, or a degree with a strong numerate content (as determined by the course committee).

• You will have demonstrated by your performance in relevant modules that you have the numeracy skills required for this MSc degree course to the satisfaction of the course committee.

• Graduates with a BSc in Financial Mathematics and Actuarial Science (FMAS graduates) and BSc Risk and Actuarial Studies (RAS graduates) are not eligible to apply for this course.

• All candidates must ultimately be approved by the programme coordinator.

• In the case of competition for places, a selection will be made on the basis of your primary degree results and interview performance (if required).
   

  Minimum Requirements and Accepted English Language Tests & Examinations
  
  The minimum English language entry requirements for admission onto a postgraduate programme at UCC are outlined below. These requirements are for postgraduate applicants whose first language is not English. If Gaeilge (Irish) is your first language these requirements do not apply to you.
   

  There are a small number of programmes with a higher minimum English language entry requirement and we list these below under Programmes with a Higher Minimum English Language Requirement.
  
  IELTS*    

   

• 6.5 Overall

• 6.0 Individual Skills (academic version)
   

• TOEFL iBT    
   

• 90 Overall

• Listening 20

• Reading 19

• Speaking 21

• Writing 20

The EU fee for this course is €8,130.
 

The Non-EU fee for this course is €18,490.

An actuarial qualification is very highly regarded. Graduates continue to find employment in traditional areas such as insurance, pensions, underwriting, banking and financial consultancy. However new and non-traditional sectors of employment also attract our graduates and include investments, healthcare, risk management, financial planning, regulation, and hedge funds.