For the first time, SMS TU has launched B. Math. Sc. (Actuarial Science) . The first two years of B.Math.Sc. the program provided a foundation and a broad range of areas including Mathematics, Statistics, and Computer Science. In the remaining two years of the program that starts from the fifth semester, students start studying Actuarial Science as a major subject. This Actuarial Science Courses is similar to the core courses on which the Institute and Faculty of Actuaries (IFOA), UK has been conducting the professional examinations and may play an important role in the growth and development of the Nepalese insurance and banking sectors.
- Evaluation system: Semester Examination -60% and Internal Assessment – 40% (The internal assessment may include writing test, Oral test, seminar,
practical, project work, field work etc. In each of the semester Exam and Internal Assessment, the student must secure at least 40% in order to complete the course.) - Eligibility: A candidate who has passed grade 12 from any stream (Science/Management/Education/Arts) with one of the subjects being Mathematics of 100 marks or Business mathematics or equivalent in 11/12 grade is eligible to get admission through entrance examination.
- Intake : 36
- Scholarship: Scholarships will be awarded to 10 % students according to T.U. rule
- Significance of the Program: The course is globally recognized with mutual exemptions with a lot of other international actuarial institutes. In Nepal, there are no actuaries. All the actuarial jobs are serviced from India. The job of the actuary has been ranked in every edition of the Wall Street Journal’s Jobs Rated Almanac as a top three profession (out of 200) in the United States. In the 2015 edition, actuary was ranked the number one career. See http://www.careercast.com/jobs-rated/jobs-rated-report-2015-ranking-top-200 jobs. when ranking professions, the almanac considers factors such as salary, hiring outlook, stress, and work environment.
- Do some research on actuarial career yourself
www.beanactuary.org, www.actuariesindia.org, www.actuaries.org.uk, www.actuaries.asn.au, www.soa.org, www.casact.org
COURSE STRUCTURE
The programme is full time, of 8 Semesters in 4 years in duration. Bachelor in Mathematical Sciences courses basically comprises of some compulsory foundational courses consisting of fundamentals of Mathematics, Statistics, and Computer Science and Information Technology plus some elective courses from a list of courses which may vary from year to year as a multi-exit model decided by the subject committee. There will also be some courses covering Technical Writing Communication English, Humanities and Social Sciences, management, natural sciences aspects as demanded by the area of concentration taken as optional/concentration areas.
Total Credit hourss : At least 120 cr. hrs
Number of Courses: The first FOUR semesters will offer five courses each. The number of courses in the remaining semesters may vary.
Nature of Courses: Theoretical, Practical, Term Paper, Project, field work etc.
The first two years of the program provide a foundation in a broad range of areas including mathematics, statistics and computer science.
The third and fourth years of the program give the students the opportunity to specialize in one of the prescribed areas.