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ONE YEAR FULL TIME Actuarial Science and Applications The subject of Actuarial Science has derived its roots from Mathematics, Statistics, Economics and Finance. It has applications in the field of Life insurance, General insurance, Health insurance, Reinsurance, Calculation of Gratuity, Pension, Leave Encashment, Asset Valuation, Pricing of Securities and Derivatives, Risk Valuation, Risk Management and so on. An actuary is a financial problem-solver with a unique blend of mathematical, analytical and business skills. Actuaries, utilizing their mathematical and statistical skills, analyze past events, assess present risks and model the future. Actuarial skills are valuable for any business managing long-term financial projects both in the public and private sectors. Relevance of this Course In the last few years India has witnessed entry of foreign insurance companies setting up joint-venture insurance companies in India to serve us better by providing flexibility and wider choices. Also entry of derivatives in the financial market is making capital market more matured. Both these have led to a spurt in the demand of professionals called actuaries. The Programme Looking at the vertically growing demand of actuaries and widening gap between demand and supply, we at NMIMS have thought of introducing a Post Graduate Diploma in Actuarial Science. The Actuarial Science Programme was launched in 2003 at NMIMS (Deemed University). It is a unique programme of its kind for the first time in India, to help meet the instructional needs of actuarial science fellowship aspirants. The objective of the programme is to assist these students prepare well in a short time for a large no. of papers of the fellowship programme so that the process of their getting qualified gets expedited. It is eventually meeting the need of the industry in India as globalization of insurance sector has lead to large gap between demand and supply of actuarial professionals and continuously rising demand with almost negligible supply. The students successfully completing the course will be awarded a diploma in Actuarial Science by NMIMS deemed university. More importantly, the students will be rigorously trained for as many as 10 papers out of 16 papers needed to become an Actuarial Fellow. Salient Features of the Programme Offered for the first time in Asia under the University system A Fast Track Catalyst to the prestigious Fellowship of the Actuarial Societies in the world Coverage beyond 100 series and 200 series papers of ASI, IOA (UK) and FOA (UK) Classroom lectures by expert faculty members Specially designed up-to-date exhaustive study material by eminent educationists and actuaries Case studies Assistance in procuring educational loan to meet the expenses for the course Eligibility
A recognised degree with a minimum of 50% marks in the degree examination or Membership of ICAI or ICWAI or ICFA Good Communication Skills Candidates who are graduates or postgraduates in Statistics/ Mathematics/ Economics Employees of Actuarial Departments of Insurance/ Finance/ Consulting Companies Associates/fellows of Insurance Institute of India may be preferred
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