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Master of Business Administration [MBA] (Actuarial Science) - Course Overview

  • STREAM

    MANAGEMENT

  • DURATION

    2 YEARS

  • COURSE

    Actuarial Science

  • COURSE TYPE

    Post Graduation

Updated On - January 4th 2019

Master of Business Administration-Actuarial Science is a professional course pursued by students as a postgraduate course. Actuarial Science is the field of expertise where students are trained to apply mathematical and statistical methods to assess risk in the insurance and finance sectors. This discipline develops a certain kind of understanding among the students pursuing the course, that they become experts in assessing the financial risks and predict it for the benefits of the companies.

The duration for this course is of 2 years and the syllabus of the course is structured accordingly.

The minimum eligibility for the course is graduation in Mathematical Sciences, Computer Science, Engineering or Physics and Commerce graduates which a minimum of 55% marks in Mathematics at the undergraduate level and a minimum of 85% marks in Mathematics at 10+2 level.

What is the course about?

The course is an extensive classroom program which is equivalent to the certificate, associate level and fellowship level examinations conducted by The Actuarial Society of India and Institute of Actuaries, UK. These two organizations are professional examining bodies which conduct the exams in order to provide an Associate Membership to the students who pass the examinations.

To pass these exams, a candidate has to undergo self study, while postgraduate diploma and degree courses like MBA Actuarial Sciences provide the benefit of classroom environment to the students which help them understand the concepts related to the actuarial sciences.

Who should opt for the course?

Students who have a keen interest in mathematics, data analysis and statistical analysis should take this course. The course is an extensive study in the field of actuarial sciences which train the students in assessing the financial risks of an organization and also providing them with better consultancy beneficial for the company. The students are also trained into communicating the company’s financial statuses in terms which will be understood by all.

This course is best if a person wants a deep understanding about business management and a career in either a private sector or a public sector. There are a few prerequisites for this course. The candidate must be good at communication skills, should be able to communicate effectively and clearly. He/she should also have a basic knowledge about computers. They must have a business sense and a practical outlook to approach the challenges involved in their career.

The course is extensive and demands some serious dedication and focused approach to achieving the best possible results, so, any candidate who feels himself/herself fit for these prerequisites should apply for the course.

Top Colleges for Master of Business Administration [MBA] (Actuarial Science)

Duration:

The course is a 2 year postgraduate course and it spans for duration of 4 semesters.

Top institutes:

DAES College, Mumbai

Shankarlal Khandelwal Arts, Science and Commerce College

Bishop Heber College, Trichy

Chidambaram Pillai College for Women, Trichy

Department of Statistics, Dibrugarh University

Department of Statistics, University of Mumbai

School of Mathematical Sciences, North Maharashtra University

How to Get Admission in Master of Business Administration [MBA] (Actuarial Science)

The admission processes various extensively across the institutions. Since, only a handful of institutes offer this course, the criterion is also different. For example, for admission forms for the PG Diploma course in Actuarial Sciences in Bishop Heber College, Trichy, are available after the result to the undergraduate courses of Bharathidasan University are declared.

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