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What is actuarial science?

Actuarial science is a discipline that applies mathematical and statistical methods to assess risk in various industries, particularly insurance and finance. Actuaries use their expertise to analyze data, forecast future events, and design strategies to manage financial risks, such as determining insurance premiums and pension plan contributions.

What do Actuaries do?

Actuaries have a very good understanding of mathematics, statistics, business and economics which makes them great analysts and decision-makers. They can apply their knowledge in various fields and domains like Finance, Marketing, Sports etc.

What is quantitative finance?

Quantitative Finance is the study of the application of Mathematical tools and techniques in the Finance Industry.

How does the BSc (Actuarial Science and Quantitative Finance) course compliment Actuarial Studies?

Patkar -Varde College in association with IAQS offers a Bachelor’s degree in various financial professional courses like CFA, CAIA and FRM which in turn enable an aspirant to take up Quants related roles. The curriculum has finance based modules which have individualised mapping with curricula of the aforementioned courses.

Students after their penultimate year have an option to choose their elective of specialisation. The options for specialisation are:
1) Actuarial Science
2) Quantitative Finance.

If an aspirant opts for 2) Quantitative Finance he/she can be prepared to give CFA/FRM Level 1 and Level 2 and CAIA exams in the third year.

All professional courses for finance like CFA, FRM, CAIA are more so a distance learning program wherein students have to take exams every 6 months. This system clearly lacks a holistic learning.

To bridge this gap IAQS has built its courses not only to compliment finance based professional courses but also provide an overall platform supporting immersive learning by:

  • Capstone Projects and Case Studies:
    Students get a chance to try their hand at the application of classroom learning by way of specially crafted case studies.
  • Industry Experts:
    Industry integrated learning by having >60% of the faculty comprising industry practitioners. They give students perspective on how their learnings tie in with industry realities.
  • Industry Connect Sessions:
    Once every month we organize “Industry Connect Sessions” which is based on the theme of the semester we invite top dignitaries and people of senior management from the industry to speak/discuss on the latest trend and current happenings in the industries.
  • Internships:
    Students are also exposed to industry realities with an opportunity to intern after their penultimate year.