School of Computer Information and Mathematical Sciences
M.Sc Actuarial Science
For NRI Candidates
B.Sc., Statistics / Mathematics / B.Sc., B.Com. B.B.A., B.C.A., B.E., etc with Mathematics / Business Mathematics / Applied Mathematics / Statistics as one of the ancillary subjects.
- Candidate should secure minimum of 50% in graduation
- English as one of the subjects of qualifying examination
Documents Required for NRI Admissions
1. NRI candidates should produce Employer Certificate of the sponsor – either Father or Mother.
2. Application form with all details furnished.
3. Photocopies of the following
(I) NRI bank account passbook (front page photocopy)
(II) Passport copy of the parent having NRI status.
(III) Passport copy of student (except for NRI-S candidates)
4. Equivalence Certificate issued by the Association of Indian Universities (AIU)
5. NRI Status Certificate in respect of father/mother.
6. Certificates of Educational Qualifications
10th Std/12th Std/Degree/Transfer Certificate / Migration Certificate (as applicable to specific
7. Medical Fitness Certificate
8. Undertaking Duly Countersigned By Parent/Guardian.
Admission, Transfer and Change of Course
Admission to various programs will be subject to verification of facts as in the original certificates /documents of the candidates. Management reserves the right to cancel admission if any discrepancy is noted, even at a later point any time after the admission. Such a decision will be final and binding on the candidate.
Admission offered to a candidate who has been provisionally admitted to a programme will stand cancelled if he/she does not submit the relevant documents in original pertaining to admission (such as Mark Sheet, Transfer Certificate, Migration Certificate and Conduct Certificate, etc.) to the concerned Admissions Officer before the stipulated date. NRI student who has been granted admission to a particular programme shall not be allowed to change the programme subsequently.
It is the responsibility of the candidates to ascertain whether they possess the requisite qualification for admission. If the candidates furnish mark sheets of the qualifying examination only in grades, the minimum marks pertaining to the grade obtained in the course will be taken into consideration while determining the marks in the subjects.
FEE STRUCTURE FOR NRI STUDENTS
|S.No||Programme||Tuition Fee per Semester (USD)||Amenity Fee (USD)
|1||M.Sc Actuarial Science (2 years)||500||500||1000|
|S.No.||Percentage of Refund of Fee||Point of time when notice of withdrawal of admission is received in the HEI|
|1||100%*||15 days or more before the formally-notified last date of admission|
|2||90%||Less than 15 days before the formally-notified last date of admission|
|3||80%||15 days or less after the formally-notified last date of admission|
|4||50%||30 days or less, but more than 15 days, after formally-notified last date of admission|
|5||00%||More than 30 days after formally-notified the last date of admission|
*The processing fee of 5% of fee paid will be deducted
Hostel Fee Per Year
|A/C Double Sharing (Accommodation & Boarding)||USD 2,200|
|Caution Deposit (Refundable)||USD 100|
Programme Educational Objectives
- To provide opportunities of higher studies in the professional area of Actuarial Science
- To impart knowledge on various theoretical and practical aspects of Actuarial Science
- To enable the students to apply their newly gained knowledge and skills in their workplace
- To develop independent learning skills and transferable skills among the students
- To help the students extend and develop their career plan and pursue their own professional development
- To provide the students with a structured programme of study covering all Core Actuarial Science subject contents
- To contribute to the education of academics, allowing the Institute to play an active role in the production of advanced studies in the areas of the Master in Actuarial Science
On Completion of the Programme, the students will be able to
- understand the fundamental probability tools for quantitatively assessing risk and demonstrate an ability to apply these tools to problems encountered in Actuarial Science
- use the fundamental concepts of Financial Mathematics and demonstrate an ability to use those concepts to calculate present and accumulated values for various streams of cash flows as a basis for future use
- demonstrate an understanding of the financial instruments, including derivatives, and the concept of no–arbitrage as it relates to financial mathematics
- understand the theoretical bases of certain Actuarial Models and Life Contingent models and can apply those models to insurance and other financial risks
- understand the frequency and severity models and an ability to carry out the steps involved in the modeling process in solving Actuarial Science 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, and,
- demonstrate highest standards of Actuarial ethical conduct and Professional Actuarial behavior, critical, interpersonal and communication skills as well as a commitment to lifelong learning.