Actuarial & Financial Studies

Course Information

BAFS (Hons) (NFQ Level 8)

Full Time - Undergraduate Studies

CAO Code: DN230
CAO Points Range 2016: 560 - 625
Length of Course: 4 Years
Average Intake: 45

Leaving Certificate:

Passes in six subjects including English, Irish, Mathematics (Min H2 in LC or equivalent) & three other recognised subjects.

You must obtain a minimum of Grade H5 in two subjects and a minimum of Grade O6/H7 in the remaining four subjects.

Click below for equivalent entry requirements information for:

Why is this course for me?

If you enjoy studying Higher Level Mathematics for the Leaving Certificate or at A-Level and you have strong analytical and problem-solving skills, the UCD BAFS (Hons) degree could be for you. It will prepare you for a professional career in the actuarial or financial professions, but it has also been designed to be broader and more diverse than most traditional courses in actuarial science

It takes a combination of strong analytical skills, business knowledge and understanding of human behaviour to design and manage programmes that control risk and guarantee sufficient funds for the insurance and pension sectors. For example, the actuary works out the risk (e.g. the likelihood of a fire happening) and calculates how much the customer should pay for insurance cover to ensure that the insurance company has sufficient funds to pay out if the incident occurs.

Career & Graduate Study Opportunities

Most BAFS graduates take positions as actuarial trainees in the following:

  • Life insurance
  • Pensions
  • Health insurance
  • General insurance

Should you achieve a sufficiently high standard in the degree, you will gain some (or all) exemptions from the Core Technical series examinations (CT1:8) as well as the Core Applications CA1 examination of the Institute of Actuaries, or the Faculty of Actuaries. Some graduates also work in banking or finance as business or financial analysts. As a graduate of the BAFS degree, you are also eligible to pursue graduate study in statistics, computer science, economics, mathematics, management science, finance and other specialist business subjects.

What Will I Study

This is a sample pathway for a degree in Actuarial & Financial Studies. Subjects include accountancy, finance, mathematics, information management and statistics.

First Year

  • Mathematics
  • Economics
  • Statistics
  • Accounting
  • Computer Science
  • Elective modules

Second Year

  • Actuarial and Financial Studies
  • Elective modules

Third Year

  • Actuarial and Financial Studies includes a six month supervised professional placement in insurance and financial institutions in Ireland, the UK or the USA

Fourth Year

  • Actuarial and Financial Studies

The Actuarial & Financial Studies course is full time and includes a mixture of lectures, tutorials and practical assignments.

Assessment for each module will vary and may comprise a written exam, multiple choice questionnaires and continuous assessment activities.

For detailed information on subject content click here.

Testimonial

“One of the most important aspects of the degree was the six-month work placement during third year. It provided excellent exposure to the working environment and gave a taste of what it is like to work as an actuary. Another advantage is the small class size. The class is a tight-knit group and this is important during the degree and in the work environment afterwards. I now work in Regulation and my role involves reviewing reports on insurers’ pricing, reserving and risk management processes. The work can be challenging and actuaries are constantly updating their knowledge and skills to adapt to the changing environment with the introduction of new regulations and greater emphasis on risk management after the financial crisis in 2008.”

Marie Bradley, FSAI, Senior Actuary at Central Bank of Ireland