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Programs

Bachelor's Degree in Actuarial Science and Quantitative Finance

About Bachelor’s Degree

Our Bachelor’s Degree is India’s premier Bachelor’s Degree in Actuarial Science and Quantitative Finance which is conferred by the University of Mumbai, Patkar-Varde College which is recognised globally and has a reputation spanning over 160 years.

This full-time 3-year Degree is based on three prominent fields – Actuarial Science, Data Science and Quantitative Finance. This degree aims at imparting knowledge through top industry experts and simultaneously moulding a student’s interpersonal skills.

Programs

Programme USP

3 Years Full-time Bachelors Program

India’s premier Bachelor’s Degree in Actuarial and Quantitative Finance.

Degree from University of Mumbai, Patkar Varde College

The University of Mumbai is one the oldest and most reputed educational bodies across the country.

Worldwide and Industry recognised degree

The Bachelor’s Degree offered is well recognised globally by corporates and educational institutions alike.

Choose area of Specialisation

Students have an option to choose a specialisation at the end of their penultimate year.

Compliments Actuarial Science studies

The course compliments 7 Actuarial papers from IFoA and IAI.

Compliments Finance and Investment studies

The course compliments studies for professional exams like CFA, FRM and CAIA.

Compliments Data analytical studies

The course compliments Data Science studies as students learn various data driven softwares.

Solid foundation for various analytical and business postgraduate programmes

It’s a comprehensive course which gives an excellent base to the students for various post-graduate degrees.

Curriculum Ideology

The curriculum is delivered in three ways:

Knowledge - Classroom Session

  • Assignments & Projects: Our dedicated team of professors is always eager to guide students at every step of their projects. Such assignments and projects undoubtedly offer our students an opportunity to meet, interact and build relationships with popular and experienced people in the BFSI (Banking, Financial Services and Insurance) Industry.
  • L.M.S: Learning Management System is our online space designed to cater to best learning for the millennials. Students have access to the lectures conducted in class on this portal, wherein students can revisit, rethink and revise lectures anywhere, anytime. This portal is also a one-stop-shop for all the assignments, practice questions and daily schedules.
Classroom Sessions
Case Studies

Skills - Practical Learning

  • Industry Connect Workshops: To keep the students informed about the latest happenings in the industry, we frequently organize uniquely designed workshops and seminars, which are focused on highly practical topics, which are short-listed by our team of experts.
  • Case Studies: Case studies highlighting various practical and situational issues are regularly discussed during classroom sessions. Exploring such live Case Studies and then identifying what went wrong or what could have been done better n helps students to streamline their thought process.

Skills - Practical Learning

  • Industry Connect Workshops: To keep the students informed about the latest happenings in the industry, we frequently organize uniquely designed workshops and seminars, which are focused on highly practical topics, which are short-listed by our team of experts.
  • Case Studies: Case studies highlighting various practical and situational issues are regularly discussed during classroom sessions. Exploring such live Case Studies and then identifying what went wrong or what could have been done better n helps students to streamline their thought process.
Case Studies

Application Of Knowledge And Skills

  • Projects: These are used as a platform for students to translate all their learnings in solving a scenario-based question. These are curated by the faculty to help students amalgamate all their learnings from each semester and to draw parallels with industry realities.
  • Internships: In the penultimate year, students have to undertake Internships. These internships are provided by a dedicated placement cell of the college which aim at giving students a taste of workings in the industry arena.
  • Placement Cell: We have a dedicated placement cell which aims at providing 100% placement assistance to students along with guiding them for future career options and resume building.
Internships

Eligibility

  • Students with keen interests in Mathematics, Statistics, Finance, Investment, Risk, and Data Analysis
  • Cleared HSC or any other equivalent examinations (Science/ Commerce/ Arts)
  • Have successfully cleared QAT/ACET/any Actuarial Paper and interview

Objective

To master the necessary skills, gain a comprehensive foundation and ensuring depth in the field of Banking, Financial Services and Insurance (BFSI) industry.

Outcome

You will graduate with a University of Mumbai Bachelor’s degree and fully competent for job roles in the following fields:

  • Actuarial
  • Investment Banking
  • Risk Management
  • Data Science
  • Financial Analysis
  • Economics

Course Curriculum

Semester 1

This semester brushes up on the basics of calculus and statistical methods. It aims to introduce the students to the world of cash-flow models and time value of money which forms the basis of financial mathematics. The course aims at providing a bird's eye view of the workings of a life insurance company.

  • Calculus
  • Probability and Statistics - 1
  • Financial Mathematics
  • Business Finance - 1
  • Life Insurance - Principles, Products and Practices
  • Applications of IT- Basics of Excel

Semester 2

This semester delves deeper into understanding the statistical methods, financial analysis and is a refresher for algebra. It familiarizes students with the concepts of Actuarial models and provides an overview of the workings of a non-life insurance company.

  • Numerical methods and Algebra
  • Probability and Statistics - 2
  • Business Finance - 2
  • Introduction to Actuarial Models
  • Non-Life Insurance - Principles, Products, Practices
  • Basics of R

Semester 3

In this semester, students will learn about risk modelling, mortality tables and how one can make the mortality tables fit for industrial use. It introduces one to the primary and secondary financial market.

Students will also develop an understanding of the workings of competitive markets and behaviour of consumers. Concluding the semester, the students would get a first-hand experience by solving business problems.

  • Statistical and Risk Modelling - 1
  • Portfolio Theory and Security Analysis
  • Introduction to Derivatives and Financial Markets
  • Business Economics
  • Application of IT - Basics of Python
  • Project work – 1

Semester 4

This semester equips one with understanding of various concepts required for model building. It acquaints them with fixed income products and introduces one to the macro side of the economy. The course expands the student's knowledge of pricing and hedging of derivatives.

  • Statistical and Risk Modelling - 2
  • Financial Engineering - 1
  • Fixed Income Products
  • Business Economics - Macro Economics
  • Statistical Models in R
  • Advance Application of Excel

Mandatory Internship:
Students have to undertake an internship before the last year begins. The Placement Cell will assist students in the internship process. The internship also helps students select their subjects for specialisation.

Choose your elective for specialization
At the beginning of the 5th semester, students are given an option to choose electives of their choice with the aim of specialization.
Elective A: Actuarial Science
Elective B: Quantitative Finance

Semester 5

This semester revolves around developing and honing soft skills to prepare students for the professional world. This semester incorporates an internship report which is aimed at giving the students a snapshot of the corporate arena.

  • Business communication
  • Professional Ethics / Actuarial Practice standards
  • Modeling Documentation
  • Internship

Elective A

  • Statistical and risk modelling - 3
  • Pricing and Reserving for Life Insurance Products - 1

Elective B

  • Risk Management and Investment Management - 1
  • Financial Engineering – 2

Semester 6

This semester extends as per the specialisation chosen by the individual at the start of the 3rd year. Additionally, it is also aimed at providing individuals a hands-on Bloomberg terminal or similar software.

  • Predictive Analytics and Machine Learning
  • Application on Bloomberg terminal or similar software
  • Psychology of human behaviour at work
  • Project Work - 2 / C++

Elective A

  • Statistical and Risk modelling - 4
  • Pricing and Reserving for Life Insurance Products - 2

Elective B

  • Risk Management and Investment Management -2
  • Basel

Class Profile

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HSC
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CBSE
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ISC
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A levels, IB, International Students

Admission Process

The admission process is online, thereby quick and hassle-free:

Admission Process

In case of any concerns, feel free to reach out to our admissions team on +91 9372777615/ +91 9372777617 or drop us an email on info@iaqs.in.