Objective
2. Objectives of the Degree Programme
The objectives of the B.Sc. in Actuarial Science degree program are
To equip students with theoretical knowledge and practical skills, develop and apply techniques of mathematics, statistics, probability and finance to solving real business problems.
The other objectives of the course are to:-
(i) To offer high quality training in Actuarial Science locally and internationally.
(ii) To provide an opportunity for research in Actuarial Science and development of Actuarial products.
(iii) To assist the student to prepare for several examinations of the faculty & Institute of Actuaries, the Casualty Actuarial Society and the society of Actuaries.
Admission Requirements
3. Admission Requirements
To be admitted into the B.Sc. in Actuarial Science program, a candidate must satisfy the minimum University entry requirements. In addition, candidates must satisfy the following subject cluster:-
Mathematics OR Mathematics
Any group II Physical Science
Any group III Biological Science
Any from Group II/III /IV/V Geography/Accounts/Commerce
Privately Sponsored Students Programme:
To be admitted to this degree Programme a candidate must have
(i) A minimum mean grade of C+ at KCSE, and at least B-(minus) in Mathematics and C+(plus) in English or Kiswahili
OR
(ii) KNEC Diploma in actuarial science or its equivalent recognized by University Senate. (Candidates with grade Pass may be admitted to first year of study, credit/distinction to second year of study)
Mature Entrance Admission
Eligible mature entrants will have either of the following qualifications:
(i) KNEC Diploma holders or their equivalent recognized by University who meet the admission requirements are eligible for admission on credit transfer. (Pass into first, credit/distinction into second year).
(ii) Candidates with equivalent qualifications as approved by senate may be considered.
4. Course Duration
The duration of the program shall normally take four academic years.
A candidate should take a minimum of at least 21 units or at most 24 units per semester.
In addition to the normal semesters, there are field visits and industrial attachments at selected industrial, educational or research establishments. The attachment course shall normally be taken at the end of third year of study.
5. Examinations
The Moi University Common Rules and Regulations for Undergraduate Examinations shall normally apply. In addition the following shall apply
(i) The theory courses the continuous assessment tests (CAT) shall normally constitute 30% and end of semester examination, 70% of final marks awarded.
(ii) The theory and laboratory based courses the continuous assessment tests (CAT) and laboratory exercises shall normally constitute 40% and end of semester examination, 60% of final marks awarded.
(iii) ACS420 Research project in Actuarial Science
The project shall be graded independently out of a maximum of 100 marks distributed as follows: The project report 70% and the oral presentation 30%.
(iv) ACS 350: Industrial Attachment
The supervisor at the selected station will be required to submit a confidential report on the student’s performance during the period of attachment. A written report based on research and an oral presentation shall constitute 70%, field assessment from at least the eighth week and not later than the tenth week after placement shall constitute 20% and a confidential report from the supervisor shall constitute 10% of the final marks awarded.
*These courses are approved by Senate.
First Semester
|
Code
|
Description
|
Units
|
ACS 101
|
Introduction to Actuarial Science
|
3
|
STA 110*
|
Introduction to Statistical Economics
|
3
|
STA 111*
|
Introduction to Probability and Statistics I
|
3
|
MAT 110*
|
Basic Calculus I
|
3
|
COM110*
|
Introduction to Computers and Computing
|
3
|
IRD 100*
|
Communications Skills I
|
3
|
IRD 103*
|
Development concepts
and Application
|
3
|
|
TOTAL
|
21
|
Second Semester
Code
|
Description
|
Units
|
ACS 102
|
Fundamentals of Actuarial Mathematics I
|
3
|
STA 112*
|
Introduction to probability and Statistics
|
3
|
MAT 111*
|
Geometry and Elementary
Applied Mathematics
|
3
|
COM 111*
|
Computer Applications I
|
3
|
COM 121*
|
Procedural Programming I
|
3
|
IRD 102*
|
Communications Skills II
|
3
|
IRD 104*
|
Quantitative Skills
|
3
|
|
Total
|
21
|
First Semester
|
Code
|
Description
|
Units
|
ACS 201
|
Financial Mathematical I
|
3
|
ACS 202
|
Fundamentals of Actuarial Mathematics II
|
3
|
STA 212*
|
Mathematical Statistics I
|
3
|
STA 218*
|
Introduction to Time Series Analysis
|
3
|
MAT 210*
|
Calculus
|
3
|
MAT 212*
|
Linear Algebra I
|
3
|
IRD 200*
|
State, Society and Development
|
3
|
|
TOTAL
|
21
|
Second Semester
Code
|
Description
|
Units
|
ACS 203
|
Principles of Economics I
|
3
|
ACS 204
|
Principles of Operations Research
|
3
|
STA 216*
|
Mathematical Statistics II
|
3
|
STA 217*
|
Principle of Statistical Inference
|
3
|
STA 224*
|
Computational Methods and Data Analysis II
|
3
|
MAT 213*
|
Linear Algebra II
|
3
|
MAT216*
|
Real Analysis
|
3
|
|
TOTAL
|
21
|
First Semester
Code
|
Description
|
Units
|
ACS 301
|
Actuarial Mathematics I
|
3
|
ACS 303
|
Principles of Economics II
|
3
|
ACS 304
|
Financial Mathematics II
|
3
|
STA 317*
|
Theory of Estimation
|
3
|
STA 318*
|
Computing Methods and Data Analysis
|
3
|
MAT314*
|
Ordinary Differential Equations
|
3
|
IRD 305*
|
Entrepreneurship for Small Business
|
3
|
|
TOTAL
|
21
|
Second Semester
CORE COURSES
|
Code
|
Description
|
Units
|
ACS 302
|
Actuarial Mathematics II
|
3
|
ACS 305
|
Life Contingencies I
|
3
|
STA 305
|
Probability Modeling
|
3
|
STA 316*
|
Applied Regression Analysis I
|
3
|
STA 321*
|
Testing of Hypotheses
|
3
|
STA 350*
|
Industrial Attachment
|
3
|
COM 318*
|
Database Systems
|
3
|
MAT 317*
|
Numerical Analysis I
|
3
|
|
TOTAL
|
24
|
First Semester
Code
|
Description
|
Units
|
ACS 401
|
Mathematics of Demography and Graduation
|
3
|
ACS 402
|
Survival Models
|
3
|
ACS 403
|
Risk Mathematics
|
3
|
ACS 408
|
Loss models I
|
3
|
ACS 420
|
Project in Actuarial Science
|
3
|
STA
426*
|
Bayesian Inference andDecision Analysis
|
3
|
IRD
400*
|
Development project
Appraisal
|
3
|
|
TOTAL
|
21
|
Second Semester
Code
|
Description
|
Units
|
ACS 404
|
Computational Finance
|
3
|
ACS 405
|
Principles of Financial Management
|
3
|
ACS 406
|
Actuarial Theory of Pension Funds
|
3
|
ACS 407
|
Life Contingencies II
|
3
|
ACS 409
|
Loss models II
|
3
|
STA 424*
|
Stochastic Processes
|
3
|
COM 400*
|
Computer Programming II
|
3
|
|
TOTAL
|
21
|