INTRODUCTION 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 contract 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. COURSE OBJECTIVE 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. 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. COURSE OUTLINE First Year Semester 1 University Unit HRD 2101 Communication Skills Faculty Unit SMA 2104 Mathematics for Science Core Units HBC 2107 Introduction to Micro-Economics ICS 2107 Introduction to Information Technology ICS 2329 E-Commerce I SMA 2100 Discrete Mathematics STA 2104 Calculus for Statistics I STA 2190 Introduction to Actuarial Science Semester 2 University Units HRD 2102 Development studies SZL 2111 HIV/AIDS Core Units HBC 2125 Introduction to Macro-Economics ICS 2108 Programming Methodology SMA 2201 Linear Algebra I STA 2100 Probability and Statistics I STA 2105 Calculus for Statistics II STA 2191 Financial Mathematics I Second Year Semester 1 Core Units HRD 2200 General Insurance: Theory SMA 2306 Linear Algebra II STA 2200 Probability and Statistics II STA 2202 Introduction to Computer Interactive Statistics STA 2204 Calculus for Statistics III STA 2291 Actuarial Mathematics I Compulsory additional Unit SMA 2321 Numerical Analysis Semester 2 Core Units HRD 2201 Accounts and Finance For Actuarial Science ICS 2214 Data Base Management Systems SMA 2231 Differential Equations STA 2201 Probability and Statistics III STA 2290 Financial Mathematics II STA 2305 Statistical Programming I

Third Year Semester 1 Core Units STA 2306 Real Analysis for Statistics STA 2300 Theory of Estimation STA 2302 Probability and Statistics IV STA 2311 Statistical Programming II STA 2390 Actuarial Mathematics II STA 2413 Regression Modelling Elective Unit STA 2470 Operations Research Semester 2 Core Units HRD 2114 Research Methodology STA 2301 Tests of Hypotheses STA 2309 Risk Theory for Actuarial Science STA 2391 Stochastic Processes for Actuarial and Finance STA 2395 Decision Theory and Bayesian Inference I STA 2401 Time Series Analysis Elective Unit STA 2422 Game Theory Fourth Year Semester 1 University Unit HRD 2401 Entrepreneurship Skills Core Units HRD 2402 Financial Reporting and Interpretation of Accounts HRD 2403 Pensions and Retirement Benefits STA 2442 Financial Economics for Actuarial Science STA 2490 Demographic Techniques STA 2491 Actuarial Mathematics III STA 2498 Decision Theory and Bayesian Inference II Elective Units STA 2402 Design and Analysis of Sample Surveys STA 2494 Actuarial Science Project (In Semesters 1 and 2 Two units) Semester 2 Core Units HRD 2301 Life Assurance: Theory STA 2420 Financial Time Series STA 2423 Financial Risk Management STA 2492 Credibility Theory and Loss Models STA 2493 Survival Analysis STA 2495 Non-life Insurance Mathematics Elective units HRD 2404 Investment and Asset Management STA 2416 Computer intensive Statistics STA 2494 Actuarial Science Project (In Semesters 1

and 2 Two units) Semester 3 Core Unit STA 2496 Practical Attachment

TUITION FEES For Kenyan citizens, tuition fees is Kshs. 76,403.00 per semester in the first year, and ranges from 57,303.00 to 62,078.00 for all other semesters. For non-citizens, add an extra 20% to the amount in every semester. OTHER FEES Other charges, including registration, examinations, medical subscription, etc, are available upon requests. ACCOMMODATION Accommodation may not be available and students are expected to make their own arrangements. The office of the Dean of Students may recommend suitable hostels for accommodation.

ENTRY REQUIREMENTS The following shall be eligible for admission considerations, into the degree programme: I. Kenya Certificate of Secondary Education (KCSE) applicants with a mean aggregate of at least C+ (plus) and at least (a) C+ in both Mathematics and English. OR (b) Credit in University Bridging Mathematics and C+ in English. II. Kenya Advanced Certificate of Education (KACE) or A-level equivalent applicants with at least 2 principal passes, including Mathematics. III. Holders of Diploma in Applied Sciences with at least a credit pass in relevant subjects from an Institution recognized by the University Senate, IV. A holder of other qualifications recognized by the University Senate as equivalent to the I and II above Students with either qualification II or III may at the discretion of the Faculty of Science be considered for credit transfer. STAFF AND FACILITIES The course is taught and examined by the staff of JKUAT together with the Senate approved specialist lecturers in the relevant subject areas. There are sufficient computer resources to support the programme. The University main library stocks a range of textbooks and journals in the areas of Statistics, Finance and Economics, among others, relevant to the program. HOW TO APPLY

JOMO KENYATTA UNIVERSITY OF AGRICULTURE AND TECHNOLOGY (JKUAT) DEPARTMENT OF STATISTICS AND ACTUARIAL SCIENCES

For more information, contact The Director, JKUAT ADP, P.O Box 62000-00200 NAIROBI Tel: (067) 52181-4, 52711 Ext 6119 Fax: (067) 52164/52030 Email: adp@fsc.jkuat.ac.ke Or The Chairman, Dept. of Statistics and Actuarial Sciences P.O Box 62000- 00200 NAIROBI Tel: +254(67) 52218 Fax: +254(67) 52089 Email: stacs@fsc.jkuat.ac.ke

Bachelor of Science in ACTUARIAL SCIENCE Programme

Price 3.8 3.4 4.2 4.6

200

400 Time

600

800

Returns, Value-at-Risk

-2

-1

200

400 Time

600

800

Advertisement of course is through the press. The application forms are then obtainable from JKUAT, upon payment of a non-refundable fee of Kshs. 1,500.00 for Kenyan Citizens and Kshs. 1,950.00 for Non-Citizens.

P.O Box 62000-00200, Nairobi, KENYA Telephone: +254(67) 52218 Fax: +254(67) 52089 Email: stacs@fsc.jkuat.ac.ke