Actuarial Science (B.S.)

Bachelor of Science in Actuarial Science

The life of nearly every one is impacted by the work of actuarial experts. Actuarial experts apply mathematical models to improve financial decision-making by evaluating the financial implications of uncertain future events. See the Actuarial Science’s web site: www.aucegypt.edu/academics/dept/math for a more detailed description of the work of actuarial experts. The number of certified actuarial experts in Egypt is notoriously low, whereas the demand for actuarial experts is very high. One objective of the program leading to the Bachelor of Science degree is to reduce the huge gap between supply and demand for actuarial experts in Egypt.

To be able to solve the problems of evaluating and measuring risk, an actuarial expert has to be trained in the disciplines of mathematics, probability, statistics, economics, finance, business law, accounting, and marketing. Consequently, the Actuarial Science Program cuts across the School of Science and Engineering and the School of Business and Economics.

What a major in Actuarial Science offers:
To summarize, there are many reasons why a student might choose to pursue the B.Sc. program in Actuarial Science. The program prepares students for:

• many positions within Egypt, where the demand for actuarial experts in insurance companies, actuarial consulting firms, banks and other financial institutions, as well as government agencies like the Egyptian Insurance Supervisory Authority (EISA), greatly exceed their supply.
• a wide variety of jobs in Egypt, in multi-national companies, and international institutions abroad, where training in mathematics, probability, statistics, economics, finance, business law, accounting, and marketing are essential.
• completing the first four of the six certification examinations jointly offered by the Society of Actuaries and Casualty Actuarial Society, an important step toward actuarial certification and toward obtaining the actuarial license from the Egyptian Insurance Supervisory Authority.

A total of 130 credits is required for the bachelor’s degree in actuarial science.  Students may be exempted from the MACT 131 requirements based on high school certificate and score in mathematics or by passing a placement examination. Students majoring in Actuarial Science take MACT 112 as their Natural Science or Quantitative Thinking elective. See the Actuarial Science’s  website www.aucegypt.edu/academics/dept/math for a sample schedule for completing the requirements for the B.Sc. degree in Actuarial Science.