About the Program
Program Objectives
• To develop in students, an appreciation of actuarial methods, and of the links between the theory of the subject and their practical application in industry;
• To develop in students, a logical, formal and quantitative approach to formulating and solving problems;
• To provide a foundation of knowledge about the financial sector and risk management;
• To provide students with a knowledge and skills base from which to develop further abilities to understand and analyse financial markets and institutions;
• To develop all rounded actuarial professionals with good grounding in the mathematical and statistical approaches;
• To provide enough academic training for students who wish to pursue postgraduate studies in actuarial science or other related areas.
• To provide adequate knowledge for students to sit for the early professional examinations organized by international actuarial organizations
Admission Requirements
• Candidates must meet the minimum University entry requirements.
• Candidates must have passed Mathematics with a minimum grade of B at K.C.S.E., or an equivalent qualification.
Duration of the Program
• Candidates shall normally have enrolled for courses over a period of not less than four (4) academic years.
Course Structure
• Courses will be offered in units, in which a course unit is defined as a three-hour lecture or six hours tutorial or nine hours practical session per week per semester.
• Students will take a minimum of 14 units and maximum of 16 units in each year of study. Students wishing to take more than 16 units will require senate approval.
• In the first year, students will take 16 units from the Department of Statistics and Actuarial Science,
• In second year, students will take 14 core (C ) units from the Department, and a further 2 units from the elective (E ) courses offered by the Department.
• In the third and fourth years of study, students will take 12 core units, plus an additional 4 units from the elective units offered by the Department.
Mode of Delivery
• Face-to-face
• On-line
| Program Courses | ||
| Year 1 Semester 1 | ||
| MAC 107: | Introduction to Actuarial Science | C |
| MAC 105: | Micro economics | C |
| MAS 101: | Descriptive Statistics | C |
| MAS 103: | Introduction to Probability Theory | C |
| MMA 100: | Basic Mathematics | C |
| MMA 111: | Introduction to Calculus | C |
| MIT 101: | Basic Concepts of IT | C |
| MIT 103: | Web Browsing and Communication | C |
| Year 1 Semester 2 | ||
| MAC 102 | Fundamentals of Actuarial Mathematics I | C |
| MAC 104: | Linear Models and Forecasting | C |
| MAC 106: | Macroeconomics | C |
| MAS 102 | Probability and Distribution Theory | C |
| MMA 101: | Analytic Geometry | C |
| MMA 103: | Linear Algebra I | C |
| MIT 104: | Descriptive Statistical Analysis and Presentation | C |
| Year 2 Semester 1 | ||
| MAC 201: | Financial Mathematics I | C |
| MAC 203: | Fundamentals of Actuarial Mathematics II | C |
| MAC 205: | Mathematical Modelling | E |
| MAS 201: | Sample Surveys | E |
| MAS 203: | Economic Statistics | C |
| MMA 215: | Calculus | C |
| MMA 201: | Linear Algebra II | C |
| MMA 202: | Vector Analysis | E |
| MIT 201: | Statistical Computing I | C |
| MIT 203: | Collecting and Organising Data | C |
| Year 2 Semester 2 | ||
| MAC 206: | Actuarial Mathematics I | C |
| MAC 210: | Investment and Assets Management I | C |
| MAS 204: | Demography and Social Statistics | C |
| MAS 202: | Principles of Statistical Inference | E |
| MMA 216: | Multivariate Calculus | C |
| MMA 208: | Introduction to Analysis | C |
| MIT 202: | Data Management | C |
| MIT 204: | Scientific Report Reading Writing & Presentation | C |
| Year 3 Semester 1 | ||
| MAC 303: | Actuarial Mathematics II | C |
| MAC 305 | Pension Mathematics | C |
| MAS 305 | Stochastic Processes I | C |
| MMA 300 | Real Analysis I | C |
| MMA 301 | Ordinary Differential Equations I | C |
| MIT 301: | Computer Based Survey Techniques | C |
| MIT 303: | Computers Applied to Mathematics | C |
| Year 3 Semester 2 | ||
| MAC 300: | Financial Mathematics | C |
| MAC 302: | Method of Actuarial Investigations | C |
| MAC 304: | Actuarial Life Contingencies I | C |
| MAC 306: | Financial Economics | |
| MAS 304: | Test of Hypothesis | E |
| MAS 314: | Research Methodology | C |
| MMA 303: | Complex Analysis I | E |
| MIT 304: | Introduction to Object Oriented Programming | C |
| MIT 302: | Statistical Computing II | C |
| MAS 317: | Industrial Attachment | C |
| Year 4 Semester 1 | ||
| MAC 403: | Actuarial Life Contingencies II | |