Taught Actuarial Science Courses

All students on the MSc/PG Diploma in Actuarial Science programme commence with the taught Diploma coursework, which commences in mid September each year.  The nature of the course means it is not possible to join at any other time of year. 

Programme Aim The Aim of the MSc/Diploma in Actuarial Science is to give students, in a post-graduate setting, a good grounding in the fundamental mathematical and business-related aspects of actuarial science. Specifically the course will cover the syllabuses of Subjects CT1 to CT8 of the education strategy of the UK actuarial profession (Institute and Faculty of Actuaries).

Diploma Courses

There are 12 taught courses available for the Diploma.   These correspond in total to Subjects CT1 to CT8 of the actuarial profession's current examination strategy. The courses are listed below with information about the duration of the course, the number of modules and the corresponding professional actuarial subject. Note all durations given are approximate. Individual courses may run for one or two weeks more or less than described. The final timetables issued to students will be more accurate.

Which courses should you take?

Initially, all full-time students will be registered for all 12 courses.

It is possible to drop one or more of the subjects during the year, provided the subjects still being taken are equivalent to eight or more courses.

Students who have not previously studied Statistics will probably be advised not to take Stochastic Modelling or Financial Economics 2. Some students may have studied Statistics or Economics before and may wish to drop one or both of these subjects.

However, it should be noted that it is not possible for us to decide whether the previous study is sufficient for an exemption from the corresponding professional actuarial subject - these exemption decisions can be taken only by the profession and then only after you have joined the profession. The decision to drop one or more subjects should be taken only after a full discussion with the Course Director.

In exceptional circumstances, a student may be permitted to replace one or more of the 12 courses listed above with one or more single courses given to honours undergraduate students. Note that such courses may or may not lead to exemptions from professional actuarial Subjects.

Completing the Diploma in Actuarial Science

Successful completion of the Diploma requires students to pass at least eight of the 12 available courses.  Students wishing to proceed to the MSc must also complete the Diploma coursework before progression.

Courses are assessed by a mix of coursework and examination, and a pass is obtained in a course by achieving a mark of at least 40%.

No “exemptions” from Diploma courses or “credits” of course passes are given - on the grounds of work done elsewhere or on any other grounds.

The examiners may also decide to award the Diploma with Distinction to students who perform particularly well. The distinction level is normally an average of 70% in the best eight courses for the Diploma examinations.

Students who fail to pass the equivalent of eight courses at the first sitting will be allowed to resit subjects sufficient for them to obtain passes in eight courses. Only one resit opportunity will be permitted.

All reassessment is based on examination results only, even in courses which include assessable coursework.

(A precise statement of the requirements for the award of the degree is contained in the University Regulations. In cases of apparent conflict the Regulations take precedence.)

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