BS Actuarial Science and Risk Management
Actuarial Science & Risk Management
Undergraduate
College of Computer Sciences & Information Systems
BS in the Actuarial Science and Risk Management equips graduates with mathematical and statistical skills and expertise of tools that help in assessing risk in insurance and relevant industries and professions.
A BS in the Actuarial Science and Risk Management program is intended to provide students with the tools of risk analysis, transfer and mitigate that are critical to the operation of private and public institutions, and to prepare them for careers in risk management and insurance. As an actuarial science and risk management major, a student will gain a broad insurance background with an emphasis on mathematics, statistics and finance, as well as a thorough knowledge of all types of life insurance and general insurance. BS in Actuarial Science and Risk Management is a four-year degree program. It requires completion of 138 credit hours of course work and 3 credit hours of internship of at least six weeks in an organization approved by the Institute. Total credit hours required for the degree is 142.
** Muslim students are required to take Understanding of the Holy Quran I (1 credit hour) and Understanding of the Holy Quran II (1 credit hour) during the Summer semesters to complete the degree requirement. Both courses are graded on a Pass/Fail basis and have no prerequisites.
**Note for Non-Muslim Students
Non-Muslim students will take a suitable 2-credit-hour General Education course in place of Understanding of the Holy Quran, as approved by the Institute’s statutory bodies.
***BCN010 Intensive English (Pre-Sessional Course)
A nine-hour non-credit 'Pre-sessional Intensive English module' is mandatory for freshmen who scored below 50% in the English portion of the IOBM admission test. This nine-hour pre-sessional course is conducted one week before the start of the Semester.
***Students from pre-medical/commerce/without mathematics at the F.Sc (pre-engineering) background are required to additionally complete the following two mathematics courses:
MAT011 Basic College Mathematics
MAT012 Intermediate College Mathematics.
Eligibility Criteria: The eligibility criteria for admission into BS (Actuarial Science and Risk Management) is given on Page No. 156.
Functional English
BCN101 Academic English
Expository Writing
BCN301 Persuasive and Analytical Writing
Social Sciences
ECN101 Principles of Microeconomics
ECN102 Principles of Macroeconomics
ECN301 Econometrics I
Finance and Risk Management
ARM201 Principles of Risk Management ARM302 Life and Other Contingencies
ARM304 Enterprise Risk Practices
ARM301 Institutional Investments
ARM407 Computational Methods in Risk ARM402 Risk Transfer & Retention Techniques
ARM491 Project
Civics & Community Engagement
SSC303 Service-Learning and Civic Responsibility
Actuarial Science
ARM101 Introduction to Actuarial Science
ARM307 Stochastic Processes
ARM308 Models of Financial Economics I
ARM408 Models of Financial Economics II
Finance
FNS201 Introduction to Business Finance
ARM305 Quantitative Econometrics
FNS301 Corporate Finance
Arts and Humanities
LAN 30* Foreign Language
*1 = Introduction to Arabic *2 = Introduction to French
*4 = Introduction to German *6 = Introduction to Italian
*8 = Introduction to Chinese
Applications of Information and Communication Tech. (ICT)
CSP111 Introduction to Information and Communication Technology (2+1)
Natural Sciences
EEM101 Environmental Studies (2+1)
Entrepreneurship
ETP101 Entrepreneurship
Mathematics Political Sciences
MAT111 Applied Calculus PSC302 Ideology & Constitution of Pakistan
MAT211 Multivariable Calculus
MAT201 Linear Algebra Religious Studies
ARM102 Mathematical Theory of Interest I PSC302 Islamic Studies
ARM202 Mathematical Theory of Interest II
ARM203 Actuarial Mathematics MAT423 Numerical Analysis
Statistics
STS101 Probability Theory and Statistics I STS203 Probability Theory and Distributions
ARM306 Sampling Theory STS201 Model and Inferences
STS301 Data Analysis and Decision Making ARM411 Time Series Analysis and Forecasting
ARM401 Applied Regression Analysis ARM412 Decision Theory
ARM303 Loss Models I ARM403 Loss Models II
STS409 Industrial Analytics and Statistics
ARM301 Institutional Investments
ARM402 Risk Transfer and Retention Techniques
ARM452 Theory of Risk and Insurance
ARM457 International Risk and Reporting
ARM458 Project Risk Management
ARM464 Application of R Programming
ARM465 Predictive Modeling in Actuarial Science
| Course Code BCN101 ECN101 STS101 MAT111 REL101 ARM101 |
Course Name Academic English Principles of Microeconomics Probability Theory & Statistics Applied Calculus Islamic Studies Introduction to Actuarial Science |
Credit Hours 3+0 3+0 3+0 3+0 2+0 3+0 |
Pre-requisite - - - - - - |
| Course Code STS203 MAT211 ECN102 ARM102 PSC201 LAN30* |
Course Name Probability Theory and Distribution Multivariable Calculus Principles of Macroeconomics Mathematical Theory of Interest I Ideology and Constitution of Pakistan Foreign Language |
Credit Hours 3+0 3+0 3+0 3+0 2+0 3+0 |
Pre-requisite STA101 MAT111 ECN101 MAT111 - - |
| Course Code CSP111 CSP111L MAT201 STS201 FNS201 BCN301 ARM202 |
Course Name Introduction to Information and Communication Technologies [Theory] Introduction to Information and Communication Technologies [Lab] Linear Algebra Model & Inferences Introduction to Business Finance Persuasive And Analytical Writing Mathematical Theory of Interest II |
Credit Hours 2+0 0+1 3+0 3+0 3+0 3+0 3+0 |
Pre-requisite - - MAT111 STS203 - BCN101 ARM102 |
| Course Code PSC101 ECN301 STS301 SSC303 ETP101 EEM101 |
Course Name Pakistan Studies Econometrics I Data Analysis and Decision Making Service-Learning and Civic Responsibility Entrepreneurship Environmental Studies |
Credit Hours 2+0 3+0 3+0 0+2 3+0 2+1 |
Pre-requisite - ECN102 STS201 - - - |
| Course Code ARM203 ARM307 ARM201 ARM305 MAT423 |
Course Name Actuarial Mathematics Stochastic Processes Principles of Risk Management Quantitative Econometrics Numerical Analysis |
Credit Hours 3+0 3+0 3+0 3+0 3+0 |
Pre-requisite ARM102 STS203, MAT111 ARM101 ECN301 MAT211 |
| Course Code FNS301 ARM302 ARM304 ARM306 ARM308 STS409 |
Course Name Corporate Finance Life and Other Contingencies Enterprise Risk Practices Sampling Theory Models of Financial Economics I Industrial Analytics and Statistics |
Credit Hours 3+0 3+0 3+0 3+0 3+0 3+0 |
Pre-requisite FNS201 ARM203 ARM201 STS203 FNS451 STS301 |
| Course Code ARM401 ARM408 ARM407 ARM303 |
Course Name Applied Regression Analysis Models of Financial Economics II Computational Methods in Risk Loss Models I Elective I (Risk Management) Elective II |
Credit Hours 3+0 3+0 3+0 3+0 3+0 3+0 |
Pre-requisite STS203, ECN301 ARM308 ARM202 ARM303 |
| Course Code ARM411 ARM412 ARM403 ARM491 |
Course Name Time Series Analysis and Forecasting Decision Theory Loss Models II Project Elective III (Risk Management) Elective IV |
Credit Hours 3+0 3+0 3+0 0+3 3+0 3+0 |
Pre-requisite ARM401 STS203, ARM401 ARM303 |
| Course Code ARM301 ARM402 ARM452 ARM457 ARM458 ARM464 ARM465 |
Course Name Institutional Investments Risk Transfer and Retention Techniques Theory of Risk and Insurance International Risk and Reporting Project Risk Management Application of R Programming Predictive Modeling in Actuarial Science |
Credit Hours 3+0 3+0 3+0 3+0 3+0 3+0 3+0 |
Pre-requisite ARM201 ARM301 |
Interested in this program? Visit the admissions page for more information.
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