Overview
The Master of Science in Actuarial Science course is designed to equip the students with advanced training in theoretical and practical aspects of Actuarial Science in order for them to work in life and non-life insurance companies (designing insurance products and valuing financial contracts and investing funds); consultancy (offering advice to occupational pension funds and employee benefit plans); government service (supervising insurance companies and advising on the national insurance); and also in the stock exchange, industry, commerce and universities.
The overall objective of this course is to equip students with theoretical and practical knowledge, develop and apply techniques of mathematics, statistics, probability, and finance to solving real business problems.
Philosophy of the Programme
The philosophy of the programme is to foster excellence in academic freedom, professionalism and integrity through quality scholarly teaching, training and research.
The rationale of the Programme
The rationale of this programme is to provide students with the opportunity to develop confidence and skills to apply mathematical techniques to solve practical problems in society in general. This course is ideal for those who excel in and enjoy mathematics, in particular modelling and especially those who like asking ‘What if?’ It will equip the student with the skills to become a mathematician and also offer a good starting point for those who want to use their skills in application of Mathematics.
The overall objective of the course is to enable students to acquire an understanding of the fundamental structure of Mathematics and lay a firm foundation for the study of Mathematics and its applications
Objectives of the course are:
- To offer high-quality training in Actuarial Science locally and internationally.
- To provide an opportunity for research in Actuarial Science and the development of Actuarial products.
To provide an opportunity for students from other disciplines to pursue training in Actuarial Science.
Language(s) Used: The language used in teaching is English
Modes of Delivery:
-
Face-Face Mode: The programme will be delivered through a variety of face-to-face methods such as lectures, tutorials, laboratory or field-based practical lessons, demonstrations, individual or group assignments and presentations.
-
Virtual/Online: This shall consist of written self-instructional study modules e.g. study course materials,relevant literature and interactive devices and self-tests. Face-to-face introductory tutorials. Mediated technical learning materials such audio-visual and e-Learning.
-
Blended Learning. Both Module I and Module II students learn together.
Intakes: The programme intake is in September of every year click the link below for more Information on the application procedure University of Nairobi online Application Click this link to apply
Contacts
The Chairman,
Department of Mathematics.
P.O.Box 30197-00100
Telephone: 020 4914143 / 020 4914148
Email: maths@uonbi.ac.ke.
Structure
In the first year of study, all candidates shall take six units by course work and in the second year of study, candidates may either take course work or undertake thesis research.
Candidates taking course work in the second year of study will take either six course units or four course units and a project whose findings shall be presented in the form of a brief write up. The project shall be regarded as equivalent to two units.
Candidates undertaking a thesis research in the second year of study, shall do so on an approved subject. The thesis shall be regarded as equivalent to six course units. Examinations shall be governed by the general regulations from the Degree of Master of Science in the School of Mathematics.
The course work examinations shall be held at the end of the academic year. A one-unit course will be examined by a two-hour paper while a two-unit course will be examined by a three-hour paper.
The project write-up shall be submitted for evaluation by an external examiner.
Admission Requirements
Schedule of Intakes:
The programme intake is in September of every year click the link below for more information on the application procedure University of Nairobi online Application Click this link to apply
Application Information
Before continuing please read the University of Nairobi admission requirements Please ensure that you meet the admission requirements before applying. Online Student Application Manual
Admission Requirements
Common regulations for the Master's degree in the University of Nairobi shall apply. In addition, candidates must be
- Holders of a Bachelor’s degree from the University of Nairobi in Actuarial Science, of at least Upper Second Class Honours, or equivalent qualification from an institution recognized by the Senate.
- Holders of a Bachelor’s degree in Actuarial Science, of Lower Second Class Honours, from the University of Nairobi, or equivalent qualification from another institution recognized by Senate. In addition, a candidate must have at least two years of relevant work experience.
- Holders of a Bachelor’s degree from the University of Nairobi or any other institution recognized by the Senate and a Postgraduate Diploma in Actuarial Science from the University of Nairobi, of a minimum credit grade.
Careers
Attachment Opportunities
Students can be attached but not limited to the following
- Non-governmental organizations
- Government parastatals and institutions
- Research institutions
- International organizations
- Financial and non-financial institutions
Career prospects/opportunities
- Actuarial analyst
- Business Analyst
- Actuarial Consultant
- Risk Analyst
- Underwriter
- Investment Analyst
- Quantitative analyst
- Financial analyst
Fees and Funding
| MASTER OF SCIENCE IN ACTUARIAL SCIENCE - I574 | |
| Year 1 - 8units | TOTALS |
| TUITION | 348,000 |
| EXAMINATION (PER UNIT @1000) | 8,000 |
| REGISTRATION (PER SEMESTER@2250) | 4,500 |
| ID CARD ( PER YEAR) | 1,000 |
| CAUTION - (ONCE) | 5,000 |
| MEDICAL FEE (PER YEAR) | 6,500 |
| ICT SERVICES - (PER YEAR) | 7,000 |
| ACTIVITY-( PER YEAR) | 2,000 |
| LIBRARY (PER YEAR) | 5,000 |
| STUDENT ORGANISATION(PER YEAR) | 1,000 |
| TOTALS | 388,000 |
| Year 2 -4units | |
| TUITION | 348,000 |
| EXAMINATION (PER UNIT @1000) | 4,000 |
| REGISTRATION (PER SEMESTER@2250) | 4,500 |
| ID CARD ( PER YEAR) | 1,000 |
| MEDICAL FEE (PER YEAR) | 6,500 |
| ICT SERVICES - (PER YEAR) | 7,000 |
| ACTIVITY-( PER YEAR) | 2,000 |
| LIBRARY (PER YEAR) | 5,000 |
| STUDENT ORGANISATION(PER YEAR) | 1,000 |
| THESIS EXAMINATION | 30,000 |
| TOTALS | 409,000 |
| Grand TOTALS | 797,000 |
Exam Regulations
Examination regulations
Written examinations
- Masters examinations shall be governed by the general regulations for the degree of Master of Science in the School of Mathematics.
- Course units taken in a given semester shall normally be examined at the end of that semester.
- A candidate for the Master of Science shall be required to complete satisfactorily all such course work and assignments that may be required for the scheme of study
- Each taught course unit shall be examined by two-hour written examination.
- Each course unit shall be graded independently out of 100 marks
- The pass mark shall be 50
- The complete assessment of a taught course shall consist of continuous assessment tests,coursework or practical assignments and a written examination.The contribution towards the unit aggregate score shall be 30% for course work and 70% for written examination.
- A candidate who fails to obtain the pass mark in any course unit may be allowed to resit or retake the failed units, a maximum of two times.
- A pass obtained by re-sitting a course unit shall be recorded as 50
- A candidate who fails in the second resit or retake or fails to complete the course in the prescribed time shall be discontinued.
The project
- A candidate shall be required to submit a written project report to the School of Mathematics for examination
- The project shall be graded independently out of 100 marks, distributed as follows:
- 70% for the project and 30% for oral presentation.
- The pass mark shall be 50
- A candidate who fails to obtain the pass mark in the project may be allowed to re-submit the project a maximum of two times.
- A pass obtained by re-submission of the project will be recorded as 50
- A candidate who fails to obtain the pass mark in the project at the second re-submission of the project or fails to complete the course within the prescribed period will be discontinued.
Degree award
The final degree award shall be Master of Science in Actuarial Science
