Actuarial & Financial Studies
If you enjoy studying Higher Level Mathematics for the Leaving Certificate or at A-Level and you have strong analytical and problem-solving skills, Actuarial & Financial Studies could be for you. An actuary is a professional who uses numbers to make judgements about the future. This course 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.
| Award Name | Degree - Honours Bachelor (Level 8 NFQ) |
|---|---|
| NFQ Classification | Major |
| Awarding Body | National University of Ireland |
| NFQ Level | Level 8 NFQ |
| Award Name | NFQ Classification | Awarding Body | NFQ Level |
|---|---|---|---|
| Degree - Honours Bachelor (Level 8 NFQ) | Major | National University of Ireland | Level 8 NFQ |
Duration
4 years
Specific Subjects or course requirements
Leaving Cert Subject Entry Requirements
H2 in Mathematics
O6/H7 in English, Irish and three other recognised subjects
Leaving Certificate General Entry Requirements
• To meet minimum entry requirements (matriculation) on the results of the Leaving Certificate, a student must present at least six recognised subjects selected according to course requirements (see Entry Requirements for each course) and must obtain at least Grade H5 in two subjects and Grade O6/H7 in the remaining four subjects.
• A student may normally combine the results of Leaving Certificate examinations obtained in different years to meet minimum entry requirements. This concession applies to to minimum entry requirements registration only; it does not apply to the calculation of points. However, it should be noted that students seeking to enter Medicine must meet the minimum entry requirements, including both Leaving Certificate points and Matriculation, in the same sitting of the Leaving Certificate.
Acceptable subjects
All subjects of the current Leaving Certificate examination are accepted with the following exceptions and qualifications:
1. Gaeilge – Bonnleibhéal (Irish – Foundation Level) will not be accepted for Matriculation Registration purposes.
2. Mathematics Ordinary Alternative/ Foundation Level will be accepted for Matriculation Registration purposes, but not as a substitute for the subject Mathematics in courses for that the subject Mathematics is currently an entry requirement.
Leaving Certificate points are not awarded for either of these subjects.
Applicants presenting Leaving Certificate results from previous years, which include subjects no longer offered should contact www.ucd.ie/askus for advice with regard to acceptability and any exclusions that may apply.
Combination of subjects not permitted
The subject “Physics and Chemistry” may not be presented with either “Physics” or “Chemistry”.
• “Agricultural Economics” may not be presented with “Economics”.
• “Classical Studies” may not be presented with “Latin” or “Greek”
Laboratory science subjects
The following subjects in the Irish Leaving Certificate are recognised laboratory science subjects:
• Agricultural Science • Biology • Chemistry • Physics and Chemistry (Joint) • Physics.
For Science (DN200) only, Applied Mathematics, Geography or Computer Science may also be used as a laboratory science subject.
Assessment of applications
Admission to most undergraduate courses is extremely competitive. Entry is based on the points system for students presenting Irish Leaving Certificate examinations.
Notes
• Minimum points requirements can change from year-to-year as they are dependent on demand for each course, as well as the number of places available.
• 25 additional points will be awarded for a grade H6 or better in Leaving Certificate Mathematics, where that subject is one of the six subjects being counted for points purposes.
• Applicants’ performance in the Leaving Certificate examination is scored on their best results in no more than six individual subjects taken in the Leaving Certificate examination of any one year. This does not preclude an intending applicant from taking school-leaving examinations in two or more years. In this event, the choice of year for scoring purposes will be such as to ensure that each applicant is credited with the maximum possible score.
• It is still possible to achieve matriculation and subject requirements over more than one year. However, for admission to Medicine, applicants must achieve both the required subject grades and the points in the same sitting.
• The subjects and combinations of subjects not permitted for matriculation also apply when computing an applicant’s points score.
• The points scores for Medicine are adjusted when combined with HPAT – Ireland. Please see www.myucd.ie/ medicineaddreq
• For scoring of pre-2017 Leaving Certificate examinations, please see www.myucd.ie/leavingcert/pointsscoring
Leaving Certificate Vocational Progamme LCVP
Grade Points
Distinction 66
Merit 46
Pass 28
Leaving Certificate Applied Programme LCAP
QQI FET Applicants General Information
None
Careers / Further progression
Career & Graduate Study Opportunities
Most graduates take positions as actuarial trainees in life insurance, pensions, health insurance, general insurance or investment.
The Actuarial & Financial Studies degree at UCD offers potential exemptions from the core subjects CS1, CS2, CM1, CM2, CB1, CB2 and CP1 of the professional examinations of the Institute and Faculty of Actuaries, UK.
Some graduates also work in banking or finance as business or financial analysts. As an Actuarial & Financial Studies graduate, you are also eligible to pursue graduate study in statistics, computer science, economics, mathematics, management science, finance and other specialist business subjects.
Further information
UCD has a mature entry pathway for anyone who is at least 23 years of age on 1 January of the proposed year of entry and whose school-leaving qualifications are insufficient for admission. For admission in September 2024, your date of birth must be on or before 1 January, 2001.
How do I apply?
For all full-time and some part-time undergraduate degree courses, mature applicants must apply through the Central Applications Office (CAO). The application can be completed online at www.cao.ie. For some courses you must also register for a specific test (HPAT and NMBI Nursing/ Midwifery Assessment test) for details of what is required for each course. For most of our courses, the closing date for application is 1 February 2024. Some courses may accept late applications up to 1 May 2024, but this is subject to the availability of places.
What information should I provide?
You should complete the mature section on the CAO form fully, as this is a key part of how we will assess your application. Supporting documents for your qualifications should be sent to CAO as soon as you complete your application. If you wish you can also send an additional statement of interest or CV. Please visit our website www.ucd.ie/maturestudents for further information on application and advice on how we assess applications.
For more information: www.ucd.ie/maturestudents
Other School Leaving Examinations
See www.ucd.ie/admissions
Level 6/7 Progression Routes
None
Places: 50
Entry 2024
Early online application (discounted): Fee €30 Closing Date: 20 January 2024 at 5pm
Normal online application: Fee €45 Closing Date: 1 February 2024 at 5pm
Late online application - restrictions apply (see page 3 2024 CAO Handbook): Fee: €60 Closing Date: 1 May 2024 at 5pm
Change of Mind - restrictions apply (see page 3 2024 CAO Handbook): Fee: Nil Closing Date: 1 July 2024 at 5pm
Exceptional online late application (see page 34 of the 2024 CAO Handbook): Fee €60 Closing Date: 22 July 2024 at 5pm
Be sure to complete any action well in advance of closing dates. You should avoid making an application close to a closing date. No extensions to closing dates will be allowed and all application fees are non-refundable.
LATE APPLICATIONS
Late Applications are those which are received after 5pm on 1 February 2024. The closing date for late applications is 5pm on 1 May 2024, subject to the restrictions listed on page 3 of the 2024 CAO Handbook. The online facility for late applications opens on the 5 March 2024 at 12:00 noon - a fee of €60 applies.
Exceptional Late Applications (Exception to the timetable)
The exceptional closing date of 22 July at 5pm applies only to applicants who are registered as an undergraduate student on 1 May 2024 in any year in any one of the participating HEIs (subject to the exclusions listed below). In order to avail of the Exceptional Late Application facility you must have entered the HEI through the CAO system. This is an exceptional late closing date and all steps must be completed by 5pm on 22 July. No changes may be made after this date.
If you did not enter your current course through the CAO system, you must first contact the Admissions Office of the HEI to which you wish to apply and they will inform you if you may submit an application direct to the institution.
Exclusions:
You may submit a late application only for entry to courses other than your existing course. If you wish to repeat the year in the same course you must arrange this within your HEI.
Mary Immaculate College Limerick, Marino Institute of Education, Trinity College Dublin, University of Limerick and Maynooth University have special procedures in place in the case of current or previous students who wish to apply for entry to another course in the same HEI. Such applicants must contact their Admissions Office to determine the application procedure. However, if you are a student in another HEI and you wish to apply to any of these five HEIs, you should apply through CAO.
Refer to page 34 of the 2024 CAO Handbook on how to make an Exceptional Late Application.
Restrictions
As a CAO applicant you may experience one or more of the following restrictions based on your course choices, your category of application, or restrictions imposed by the HEIs that you wish to apply to. Please read the section on 'Restrictions' on page 3 of the 2024 CAO Handbook carefully. This section includes information on:
General Restrictions
1. Making a late application
2. Making changes to your course choices
Restricted Courses
3. Applying for a restricted course
Mature Applicants
4. Mature applicants
Supplementary Admissions Routes
5. Applying for DARE and/or HEAR
A good actuary requires a multidisciplinary education in fields such as mathematics, economics, finance, statistics, risk management and professionalism. 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. Actuaries have traditionally worked mostly in the insurance and pensions industries but are increasingly moving into wider fields, where they can employ their range of skills.
The course also opens up options to work in finance, investment and trading.
What will I study?
This is a sample set of modules that an Actuarial & Financial Studies student could study each year in UCD.
First Year
Introduction to Programming • Foundations of Finance • Numbers & Functions • Linear Algebra with Applications to Economics • Introduction to Analysis • Introduction Actuarial & Financial Studies • Financial Accounting • Differential Equations • Advanced Calculus • Statistical Modelling • Fundamentals of Actuarial Business Theory • Elective Module
Second Year
Corporate Financial Management • Fundamentals of Actuarial Mathematics • Introduction to Probability • Professional Ethics • Modern Regression Analysis • Economic History • Inferential Statistics • Introduction to Bayesian Analysis • Elective Modules
Third Year
Information Management for Actuaries • Time Series Analysis • Models - Survival • Models - Stochastic Models • Workplace Skills for Actuarial & Financial Studies • Investment & Trading
Six month professional placement in an insurance and financial institution in Ireland (or in some cases abroad)
Fourth Year
International Financial Management • Actuarial Statistics • Financial & Actuarial Maths • Core Actuarial Principles • Statistical Machine Learning • Core Actuarial Principles
Assessment varies across modules but typically comprises of written exams, individual and group assignments, and mid-term tests
www.myucd.ie/afs
Dr Adrian O’Hagan
UCD School of Mathematics and Statistics
adrian.ohagan@ucd.ie
Instagram/Facebook/Twitter: @MyUCD