Bachelor’s in Actuarial Science

Introduction to the Program

The Bachelor’s in Actuarial Science at Xi’an Jiaotong – Liverpool University (XJTLU) is a three or four year program for international students taught in English.

About XJTLU

Xi’an Jiaotong – Liverpool University (XJTLU) is a new international university jointly founded by Xi’an Jiaotong University China and the University of Liverpool UK as a joint venture. As an independent Sino-Foreign cooperative university, it captures the essence of both prestigious parent universities and is the first and only one of its kind approved by the Ministry of Education in China. The University offers undergraduate degree programmes in the fields of science, engineering and management, and awards both its own Chinese degree and a degree from the University of Liverpool.

About the Program

The BSc Actuarial Science programme is designed for the students who are keen on solving real world problems involving risk and uncertainty using mathematical tools. You will learn how to predict future uncertainty, and analyse and evaluate potential risks.

The actuarial profession involves the application of mathematics by probability and statistics tools to analyse risk for future uncertainty.

About The Department of Mathematical Sciences

The Department of Mathematical Sciences is committed to excellence in research and teaching, and mathematical and computational sciences are among the major research strengths of Xi’an Jiaotong-Liverpool University.

This is a lively and friendly department for undergraduate, postgraduate and research students and has a reputation for student achievement and success. Our academic staff are internationally recognised for their high-quality research output in a number of areas of modern mathematics.

The department offers undergraduate and postgraduate programmes, which are open to both science and arts applicants (through the Mainland China admissions system) and international applicants.

Careers

Graduates are usually employed as actuaries. They work for the insurance industry to calculate costs and determine the premiums. Actuaries also work for the bank to develop derivative products, manage risk and forecast the future. Actuaries provide services for the government and oversee public companies to ensure compliance with regulatory laws.

In recent years, there has been an increasing trend to recognise actuarial skills that can be applied to a range of roles outside the traditional fields of insurance, such as agriculture and weather forecasting.

Knowledge and Skills

By the time you graduate from BSc Actuarial Science, you will:

  • understand key areas and skills of actuarial sciences
  • have a thorough understanding of mathematics, probability and statistics
  • be able to analyse risk in real-world situations.

Start Date of the Program

September

Entry Requirements

Entry into Year One

We welcome applications from high-quality candidates in all subjects with appropriate high school or equivalent qualifications. Students will normally be expected to have a high standing in their high school performance with a minimum ‘B’ average in relevant subjects.

Entry into Year Two

Students have completed A-levels of International Baccalaureate (or equivalent) will be considered for entry into Year Two.

  • A-level: BBB
  • IB: 30 points
  • SAT: high school diploma with a GPA of 3.0, plus three SAT subject tests of at least 600 in each subject, if you took the SAT before March 2016.
  • AP: high school diploma with a GPA of 3.0, plus three AP subjects at Grade 4 or above.

English Language Requirements

If you are a non-native English speaker, or if you have not previously studied in English, you must have satisfactory English language skills to study at XJTLU. Various English qualifications are accepted:

Year One entry

  • IELTS: 5.0
  • TOEFL: 62 (iBT)

Year Two entry

  • IELTS 6.5
  • TOEFL: 90 (iBT)

English qualifications are not required for students from Hong Kong, Macao and Taiwan who take the Joint Examination or the GSAT.

Students who are entering into Year One with less than IELTS 6.0 or equivalent in their English proficiency will take 10 credits EAP, and students with IELTS 6.0 or above will take five credits EAP.

Application Deadline

30th June

Curriculum

Year One

UK degrees are three years long whereas in China they are four, therefore we do accept students with certain qualifications directly into Year Two, which is the start of the main academic programme. Most students, however, enter into Year One, which provides you with a range of interesting modules, language classes and core skills for your degree.

Year Two

  • Financial reporting I
  • Theory of interest
  • Introduction to financial accounting
  • Principles of microeconomics
  • Advanced linear algebra
  • Analysis I
  • Foundations of financial computing
  • Introduction to probability and statistics
  • Principles of macroeconomics
  • Introduction to finance.

Year Three

  • Life insurance mathematics I
  • Sampling and hypothesis testing
  • Mathematical risk theory
  • Econometrics I
  • Financial reporting I
  • Statistical distribution theory
  • Introduction to financial mathematics
  • Life insurance mathematics II
  • Securities markets
  • Macroeconomics II.

Year Four

  • Credibility theory
  • Loss distribution
  • Linear statistical models
  • Econometrics of time series
  • Stochastic modelling in insurance and finance
  • Applied probability
  • International trade
  • Final year project.

Tuition Fees

The tuition fees are RMB88,000 per year. The total for the 4 year program is 352000 RMB.

Fees for studying in the University of Liverpool, UK

Tuition Fee:  GBP 12,000 – 16,000 (approximately)

Accommodation

The accommodation facilities are located within the Dushu Lake Science and Education Innovation District, where the University is situated. All accommodation within this area is private and managed by the Suzhou Industrial Park Education Development & Investment Limited Company (SIPEDI), and also provides to students studying at other institutions.

For further information on the accommodation visit the accommodation page here.

Application

To apply complete the application form and pay the application fee here. It takes approximately 4-6 weeks for your application to be processed and before an admissions decision is given. After you have been accepted you will receive your official acceptance letter visa application form. If you have any questions contact us.

Apply Now

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