Requirements For Actuarial Science In Kenya

Requirements For Actuarial Science In Kenya

What is Actuarial Science? Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. More generally, actuaries apply rigorous mathematics to model matters of uncertainty.

In this article Dashboardlogins tries to answer the question by publishing the requirements for actuarial science in Kenya

Below are the Requirements For Actuarial Science In Kenya

Candidates must satisfy the University’s general admission criteria for undergraduate programmes.

Eligibility for consideration for admission into the degree of Bachelor of Science in Actuarial Science at the School of Mathematics shall be governed by the following minimum admission requirements or an equivalent qualification recognized by Senate:

KCSE:

A holder of Kenya Certificate of Secondary Education (KCSE) with a minimum aggregate performance of B. In addition candidates must have obtained a minimum grade of B+ in Mathematics.

A-Level:

A holder of Kenya Advanced Certificate of Education (KACE) with 2 principal passes in Mathematics/Physics, Mathematics/Chemistry, Mathematics/Geography, or Mathematics/Economics.

Diploma in Computer Studies/Statistics/Education:

A holder of an ordinary diploma in computer studies, Statistics, or Education with Mathematics as a major subject, or equivalent with, a minimum pass at credit level, from an institution recognized by Senate and had obtained a mean grade C at KCSE.

Bachelor’s Degree:

A holder of a Bachelor’s degree from an institution recognized by the Senate, preferably with a good Mathematics background.

CREDIT TRANSFER AND EXEMPTIONS

The point of entry into the programme for candidates other than direct KCSE shall be approved by the Senate on recommendations of the Board of the School of Mathematics and shall be based on the qualification of the candidate.                                                                         

Credit Transfer

1. A candidate who has been admitted to this program and has taken and passes a course unit offered within another degree program may apply for transfer of the credit earned within the previous program to this program.
2. Credit transfers will only be approved from institutions and degree programs recognized by the senate.
3. Where a candidate wishes to transfer credit from a degree program of another institution to this program, the candidate shall send an application to the academic registrar justifying the request and provide evidence of the credentials which support such a request.
4. Credits may not be transferred in the third year and fourth year of study.
5. Application for credit transfer shall be considered only after the applicant has paid the exemption fees

Exemptions

1. Where a candidate wishes to be exempted from any course unit(s), the candidate shall send an application to the academic registrar justifying the request and provide evidence of credentials that support such a request. Such a candidate may be required to sit and pass an ordinary university exam in that unit.
2. Regulation 1 above notwithstanding, all course units which contribute towards the final award of the degree will be examined.
3. The examination undertaken under regulation 1 shall be graded out of 100% and the pass mark shall be 40%.
4.  Application for exemption shall be considered only after the applicant has paid an exemption fee.

Maximum Exemption and Credit Transfer

The total number of units that may be transferred plus those exempted may not exceed one-third of the total number of units prescribed in this program

What subjects are needed for actuarial science in Kenya?

BACHELOR OF SCIENCE (ACTUARIAL SCIENCE)Cluster – Actuarial Science, Accountancy, Mathematics, Economics, Statistics & Related

• Cluster 1 – Law.
• Cluster 2 – Business, Hospitality & Related.
• Cluster 3 – Social Sciences, Media Studies, Fine Arts, Film, Animation, Graphics & Related.
• Cluster 4 – Geosciences & Related.

How much are actuaries paid in Kenya?

The average salary for an Actuary is KES 2,625,000 per year in Optional[Nairobi], Optional[Kenya].