The world of business has a serious shortage of managers in areas of financial and life insurance forecasting.Few institutions that have made advance in this area have not given reasonable attention to the management aspect, thus not business oriented. This course will focus not only on quantitative aspects but also on management aspect. The programme intends to train personnel to work in Insurance firms, Pension departments of various organizations, Banks and other Financial Institutions. Stakeholders hold that the programme be require inclusion of Marketing courses to make the programme user focused.
The aim of the programme is to offer a degree programme that meets the rising demand of managers with added quantitative background especially, in areas of life insurance, health insurance and financial forecasting.At the end of the training, the programme will empower graduates to:
i) effectively Manage resources at their disposal according to contemporary economic, business management and technological trends;
ii) carry out Research in business and management trends with a view to finding solutions to contemporary problems affecting development at various scales;
iii) appreciate the complex relationship between the national economy and global economic trends, and
iv) have acquired knowledge, skills and attitudes for pursuing further studies in Actuarial Science
All candidates admitted to the degree programme of Bachelor of Actuarial Science(BACS) must satisfy the minimum common entrance requirements of Egerton University which is currently at C+
A candidate must obtain at least a B- grade in Mathematics.
Those holding qualifications equivalent to the above from institutions recognised by Egerton University Senate may also be admitted.
Admission may be offered to diploma holders in Diploma in statistics, computer Studies , Education with Mathematics as a major subject.Such cases will be treated on individual merit.
A level: 2 principal passes in Maths/Physics, Maths/Chem, Maths/Econ
A degree in mathematics from a recognized university by the Egerton University Senate
Based on Senate approved guidelines, candidates may be allowed to transfer up to a maximum of 30% of the required programme credits from a diploma course or its equivalent from an institution recognised by the University Senate.
Course Structure and Duration
The Bachelors of Actuarial Science degree programme takes four academic years for full time students.
Part-time students may be allowed to cover the programme within eight academic years.
In order to fulfil the graduation requirements for Bachelor of Actuarial Science degree, candidates are required to take and pass at least 169 CF‘s of courses approved by the senate.
The course code will be 4 letters namely BACS standing for Bachelor of Actuarial Science.
This will be followed by 3 digits.
The First digit standing for the year of study, 1,2,3,4.
i) The Second Digit standing for the Sub-discipline as follows.
0 - General Acturial Science Courses
1 - Mathematical Courses
2 - Insurance Courses
ii) The Third digit stands for the sequence of the course.
iii) Common University core Courses will retain their codes and the same will apply to faculty courses that are already in existance in other departments.
All examinations for this programme shall be conducted in accordance with examination regulations as stipulated in the Egerton University Statute XXVIII.
The grading of examinations for this programme shall be conducted in accordance with in Egerton University Statute XXVIII.
To graduate a student shall be required to take and pass ALL scheduled courses within the stipulated period.
Degree classification shall be in accordance with Egerton University Statute XXVIII.