About Financial Mathematics And Actuarial Science (bsc (hons)) in University College Cork

This degree course provides a solid education in the fundamentals of financial mathematics and actuarial science, as well as a strong grounding in the core disciplines of the Mathematical Sciences. The quantitative analytical skills developed in this course are used in a variety of settings, both commercial and non-commercial.

Graduates of this course will have a broad range of quantitative numerical and computational skills that are of use in many fields. Graduates who wish to pursue an actuarial career may qualify for exemptions from some of the professional actuarial examinations, depending on performance and choice of electives, and will have the necessary preparation to undertake the remaining examinations.

A number of degree courses in the UK and Ireland correspond to some or all of the core principle exams of the Institute and Faculty of Actuaries - the first stage of the professional education of an actuary.

The Institute and Faculty of Actuaries (IFoA) has approved programme-level exemption status for the Financial Mathematics and Actuarial science programme at UCC in respect of their first 6 Core Principles in the new 2019 IFoA curriculum (equivalent to 8 Core Technical subjects in the pre 2019 curriculum). Students may be recommended for all of these exemptions by performing sufficiently well in the corresponding examinations of the UCC programme. The IFoA

exemptions covered are CM1, CM2, CB1, CB2, CS1 & CS2. UCC is one of the very few universities in Ireland which can offer students the potential to receive this level of exemptions from the professional actuarial examinations.

In order to become a qualified actuary, it is necessary to satisfy the professional education and work experience requirements of the Faculty and Institute of Actuaries – the FIoA (information on the FIoA is available here).

A number of degree courses in the UK and Ireland correspond to some or all of the eight core technical subjects in the first stage of the professional education of an actuary. This degree provides a thorough education in the mathematical sciences, as well as the preparation for a career with a financial focus.

In addition to opportunities in the financial and insurance areas, and in the mathematical sciences, our graduates will have acquired analytical, computing, communication, and problem-solving skills that will open the way for a wide range of careers.

Skills and Careers Information

Graduates in Financial Mathematics and Actuarial Science can look forward to careers offering intellectual challenge, professional status, job satisfaction and high earnings.

Designing solutions to mathematical problems involving financial risk or future uncertainty places the graduate among the most highly valued professionals in the financial world.

The recent past has seen enormous growth in the financial services industry worldwide. This, together with the increasing sophistication of modern financial products, has led to increasing demand for graduates in Financial Mathematics and Actuarial Science.

Academic qualification equivalents

 1.    All India Senior School Certificate 

 2.    Higher Secondary Certificate / Standard 12 

 3.    Indian School Certificate (Year 12) 

Band 1 Programmes

Minimum average of 90% + in any of the recognised secondary school qualifications.

Band 2 Programmes

Minimum average of 80-89% in any of the recognised secondary school qualifications.

Band 3 Programmes

Minimum average of 75-79% in any of the recognised secondary school qualifications.

Additional Requirements

Where Maths is required for a specific degree programme, a minimum score of 85% in Maths is required.

Where a Lab Science subject is required for a specific degree programme, a minimum score of 85% is required in the appropriate Lab Science subject.

English language requirements (one of the below):

• IELTS: 6.5  Minimum individual sections 5.5
• TOEFL: TOEFL 90  Listening - 17; Reading - 18; Speaking - 20; Writing 17
• PTE: 63 Minimum individual sections 51

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