Actuarial Science is a branch of science that uses Mathematics, Statistics, Economics and Financial knowledge to model and manage future uncertainty in the financial and insurance industries. Particularly, insurance firms, pension and benefits and other similar organizations require services of actuaries in pricing products and minimize future risks. However, these firms often have to contact actuaries from the UK or elsewhere due to the shortage of qualified actuaries locally. It is with these reasons that JKUAT embarked on training of manpower in Actuarial Science.
The course prepares a student for a career as an actuarial scientist concerned with the construction of models and solutions for financial, business and societal problems involving uncertain future events. The course is international in its focus and is based on approved
guidelines for higher education in Kenya. The graduates are expected to find employment in the insurance, employee benefits, pension, banks, management consulting industry, brokerage houses, and software development companies (e.g. writing software
for pension managers and risk analysts), among others.
PROGRAM STRUCTURE AND REGULATIONS
Duration: The program takes a total of nine semesters with two semesters planned per academic year.
The following shall be eligibleÂ for admission considerations, into the degree programme:
Kenya Certificate of Secondary Education (KCSE) applicants with a mean aggregate of at least C+
(plus) and at least C+ in both Mathematics and English. OR Credit in UniversityÂ Bridging Mathematics and C+ in English.
Kenya Advanced Certificate of Education (KACE) or A-level equivalent applicants with at least 2
principal passes, including Mathematics.
Holders of Diploma in Applied Sciences with at least a credit pass in relevant subjects from an
Institution recognized by the University Senate,
A holder of other qualifications recognized by the University Senate as equivalent to the I and II
Students with either qualification II or III may at the discretion of the Faculty of Science be considered for credit transfer.
Courses: There are six required course units in every semester. In the first academic year, each student is required to take three (3) university and one (1) faculty
units. In the fourth academic year each student takes one university unit and one compulsory additional unit. Each student shall be required to undertake practical
attachment for a period of not less than 8 weeks at the end of the 8th semester. Additional units may also be available on consultation during the 2nd, 3rd and 4th years. (these do not count towards the classification of the degree but will appear on the transcripts).
One unit is defined as a series of 35 one lecture hours with a three-hour practical period and a two hour tutorial period being equivalent to a three-hour lecture.
Mode of Study: This is a full time program at JKUAT and is conducted during normal semester time.
Regulations: All JKUAT University Regulations and the regulations of the degree of Bachelor of Science in Actuarial Science apply.
Examinations: Examinations are taken at the end of every semester for the courses taken that semester. The University and Faculty of Science Examinations rules
and regulations for the degree programmes apply.