Actuarial Science, M.Sc.

  • Application Deadline
  • 24 months
    Duration
  • Tuition
    531
    Tuition (Semester)
    531
    Tuition (Semester)
  • English (take IELTS)
    Language
University rank #151 ,
This Master's degree offers a complete basic training for future actuaries. An actuary is a business professional who deals with the financial impact of risk and uncertainty.
  • Overview
  • Programme outline
  • Key facts
  • Admission requirements
  • Fees and funding

About

Most of the subjects taught involve applied mathematics, the actuary’s most important working tool. Good knowledge of management, finance, economics and information technology is also necessary to ensure an adequate level of professional expertise.

This program fulfills the requirements of the syllabus of the Swiss Association of Actuaries and prepares students to some exams of the Society of Actuaries.

University studies develop, in addition to specific academic skills, many transversal skills such as : oral and written communication, critical, analytical and summarising faculties, abilities in research, the learning and transmission of knowledge, independence and the ability to take decisions.

This panoply of skills, combined with specialist knowledge acquired in the course of studies, is an excellent preparation for a wide range of employment opportunities in financial sectors.

The following career prospects may be cited as examples:
  • Insurance companies
  • Banks
  • Consultants
  • Pension funds
  • Control authorities
  • Social security systems

Accreditation

The Master of Actuarial Science program meets the educational requirements of the Swiss Association of Actuaries syllabus (SAA). Moreover, certain courses prepare the students for the first exams of actuaries (SOA).

Due to the inclusion of certain optional courses, the Master program will be in compliance with the future syllabus of the International Actuarial Association, which is currently working on promoting a new specialty track in the field of social security at the international level.

Collaboration with the International Labor Organization (ILO)

Established experts from ILO will deliver courses on social security financing, based on recent ILO series of textbooks on social security financing, actuarial practice, health financing and social budgeting.

Programme Structure

The MScAS program includes a total of four semesters. The first three comprise a collection of compulsory and elective courses. During the third semester, students can ask to participate in an exchange program in another university. The fourth is entirely dedicated to the Master thesis.

First semester

All students must attend a set of five compulsory courses.

Second semester

Students gain knowledge of actuarial mathematics for life assurance, risk theory, modeling distributions of claims/losses, social security, simulation and advanced probability theory.

Third semester

Students gain knowledge of actuarial mathematics for life insurance, advanced actuarial modeling, credibility theory, insurance accounting, asset management and risk management, analysis of results and international social protection.

Research or internship thesis (fourth semester)

The last semester is dedicated to the Master's thesis. The student may opt for a research thesis or an internship thesis.

Work and credit allocation

The 120 ECTS credits of this Master's program are allocated as follows:

  • 90 credits awarded for the first three semesters of coursework

  • 30 credits for the Master's thesis (contingent upon the earning of the initial 90 credits)

Detailed Programme Facts

  • Full-time duration 24 months
  • Study intensity Full-time
  • Credits
    120 ECTS
  • Languages
    • English
  • Delivery mode
    On Campus
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English Language Requirements

You only need to take one of these language tests:

  • Minimum required score: 6.5

    The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

    Take IELTS test
  • Minimum required score: 570

    The TOEFL – or Test OF English as a Foreign Language – offers a paper-based test (PBT). The final, overall PBT score ranges between 310 and 677, and is based on an average taken from the three test components (listening, structure, and reading). The writing part of this test is scored separately on a scale of 0-6. Read more about TOEFL (PBT).

  • Minimum required score: 88

    The TOEFL – or Test Of English as a Foreign Language – offers an internet-based test (iBT). The final, overall iBT score ranges between 0 and 120, and includes a scaled average from the four components (reading, listening, speaking, and writing). Read more about TOEFL (iBT).

Academic Requirements

Applicants whose native tongue is not English or whose Bachelor's degree was not taught in English, should provide evidence of proficiency in English as a foreign language at the level of C1 corresponding to the following minimum levels: TOEFL CBT 230 (IBT 88-89, PBT 570) or IELTS 6.5-7 or Certificate of Advanced English (CAE).

Knowledge requirements

Minimum Mathematical skills:

  • In calculus: you can use any book on calculus (differential and integral calculus), for example "Calculus and Analytic Geometry (9th Edition)" by George B. Thomas and Ross L. Finney

  • In linear algebra: again any university level linear algebra book, like "Linear Algebra and Its Applications" by David Lay, Pearson

  • In probability: again most books on probability (elementary university level) like, for example, "Introduction to Probability Models, Ninth Edition" by Sheldon M. Ross, Academic Press.

Tuition Fee Per Semester

  • EUR 531 International
  • EUR 531 EU/EEA
  • CHF 580 per semester

Funding

StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

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