Goal of the Programme
The course prepares a student for a career as an actuarial scientist concerned with the construction of models and solutions for financial, business and societal problems involving uncertain future events.
Minimum Requirements for Admission
KCSE mean grade of C+ with and B (plain) in Mathematics and C+ English;
KACE or Advance level equivalent with 2 principal pass, including Mathematics.
Expected Learning Outcomes
Upon completion of the programme, the graduates will be able to:
- Apply probability tools quantitatively to assess risk and solve problems encountered in actuarial science
- Use financial mathematics concepts to calculate present and accumulated values for various streams of cash flows as a basis for future use in: reserving, valuation, pricing, asset/liability management, investment income, capital budgeting and valuing contingent cash flows.
- Demonstrate an understanding of the theoretical basis of certain actuarial models and life contingent models and an ability to apply those models to insurance and other financial risks
- Demonstrate an understanding of frequency and severity models and an ability to carry out the steps involved in the modelling process in solving business problems.
- Demonstrate the ability to summarize and communicate, orally and in writing, actuarial problems and the ability to communicate solutions to actuarial problems to specialized and non-specialized audiences
- Demonstrate highest standards of actuarial ethical conduct and professional actuarial behavior, critical, interpersonal and communication skills as well as a commitment to life-long learning.