M.Sc. Statistics Actuarial: Course, Career, Salary, Duration, Scope

M.Sc. Statistics (Actuarial) or Master of Science in Statistics (Actuarial) (is a postgraduate Actuarial Science course)

The degree course of actuarial science is a very vital course that deals with the knowledge of two fields, mathematics and statistics. This knowledge is then used in the field of insurance in order to develop great schemes and which should also give profit to the company.

The degree course is of two years duration and touches upon at the relevant topics. It is career-building in nature as it provides many job opportunities after its successful completion.

Master of Science in Statistics (Actuarial)

Duration: 2 Years
Level: Post Graduation
Type: Degree
Eligibility: Graduation

M.Sc. Statistics (Actuarial) Eligibility

Students having a B.Sc. in Statistics/Mathematics with statistics by any recognized university with 50% of aggregate can opt for this degree course.

Some of the universities may even demand the students to clear the entrance exam set by the university. Admission is then given to the students based on the merit they get.

M.Sc. Statistics (Actuarial) Syllabus

Syllabus of Statistics (Actuarial) as per various Universities and Colleges is:

Sem. I 
Sr. No. Subjects of Study
1 Financial Mathematics
2 Distribution Theory
3 Economics
4 Finance & financial reporting
5 Demography
6 Practical I: Introduction to Statistical software
Sem. II 
1 Regression theory
2 Stochastic processes
3 Statistical Inference
4 Life Contingencies
5 Practical II
Sem. III
1 Stochastic processes II
2 Time Series
3 Finance & Investment
4 Communication Skills
5 Life Contingencies II
6 Elective I
Sem. IV 
1 Stochastic Models in Finance
2 Survival Analysis
3 Elective II
4 Elective II
5 Projects (Preferably in Insurance companies)
Elective Courses
1 General Insurance
2 Pension & other Employee Benefits
3 Health & Care Insurance
4 Financial Econometrics

M.Sc. Statistics (Actuarial) Colleges

  • Savitri Bai Phule Pune University, Pune
  • Central University of Rajasthan, Ajmer

M.Sc. Statistics (Actuarial) Course Suitability

  • Students are required to have good mathematical, analytical and numeracy skills as they are the main skills required for the degree course.
  • It is very important for students to have good communication skills as students will need to interact with people very often.
  • Students should be very determinant to take up this degree course. Those who are motivated and interested in this field can have a great future.
  • Students who wish to become teachers in their nearer future can take up this degree course.

M.Sc. Statistics (Actuarial) Course

  • Students can join various firms as consultants that advise people where to invest their money so that they can be insured property. They should have all the knowledge of schemes that are presented in the insurance market.
  • Students can also choose to work n banks as the topics of banking and this field coincides.
  • Students have a scope to join any private and government universities as a teacher and can build a great career.

M.Sc. Statistics (Actuarial) Employment Areas

  • Colleges & Universities
  • Banking Sector
  • Stock Markets
  • Financial Dept. (industry)
  • Insurance Companies

M.Sc. Statistics (Actuarial) Job Types

  • Insurance Agent
  • Surveyor
  • Business Analyst
  • Pensions Analyst/Assistant
  • Economic Analyst
  • Pricing Analyst
  • Investment Analyst
  • Information Analyst
  • Data Analyst
  • New Business Administrator
  • Resourcing Administrator
  • Mortgage Advisor
  • Assistant Manager
  • Contracts Coordinator
  • Benefits Assistant

For any other queries about M.Sc. Statistics (Actuarial), you can leave your queries below in the comment box.

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