AIMS AND PHILOSOPHY
The proposed programme aims to provide its students with a rigorous theoretical foundation as well as some practical training in actuarial science and risk management. The education is to develop their analytical, critical and communication skills which will enable them to become the leading professionals in insurance, pension, risk management, financial services, and related industries. The syllabuses of the programme are based on the first four examinations jointly sponsored by the Casualty Actuarial Society and the Society of Actuaries. These two actuarial societies, with combined membership of 20,000 actuaries, are the major actuarial education and examination bodies in the world. Information about the objectives and membership requirements of the two societies can be found in the following websites www.soa.org & www.casact.org. We expect most of the students to attempt the professional actuarial examinations while studying in the programme. The best students will have passed all four examinations when they graduate. We also expect many of the students to eventually attain the Fellowship of the Casualty Actuarial Society or of the Society of Actuaries, which is viewed by many as the equivalent of a doctoral degree.
The specific aim of the programme is two-fold. First, the programme is to provide a solid theoretical foundation of actuarial science and statistics to its students, who will then be able to apply actuarial and statistical theories in practice and become leading professionals in addressing business and societal problems requiring identification, quantification, assessment, or management of the financial implications of risk. Second, as the syllabuses are based on the first four professional actuarial examinations, the students will acquire the academic training for passing these examinations and join the actuarial profession with confidence.
ENTRANCE REQUIREMENTS
Minimum Entrance Requirements
The minimum entrance requirement is a Higher Diploma or Associate Degree in mathematics, statistics, science, engineering, economics, accountancy, or business discipline from The Hong Kong Polytechnic University, or similar qualifications at an appropriate level from other educational establishments or equivalent. Preference will be given to those students who can demonstrate that they have attained sufficient mathematical maturity, such as having high grades in mathematical subjects or having passed the first actuarial examination. Relevant working experience in insurance, pension or other financial services will be an asset for gaining entrance to the programme.
Credit Transfer
Holders of the Higher Diploma in Mathematics, Statistics and Computing, Higher Diploma in Statistics and Computing for Business, Post-experience Diploma in Applied Statistics, Associateship in Applied Statistics from PolyU, or the Higher Diploma in Applied Statistics and Computing from IVE, or other qualifications of sufficient standard will be given the opportunity to transfer credits.
PROGRAMME OPERATION AND MANAGEMENT
The programme is operated and managed according to the University guidelines.
- Undergraduate Programme Committee
The Undergraduate Programme Committee exercises the overall academic and operational responsibility for the programme and its development within defined policies, procedures and regulations. The composition of the Programme Committee is:
Chairman
Deputy Chairman
Deputy Head of Department of Applied Mathematics
All Programme Leaders of Undergraduate Programmes
- Programme Leader and Deputy Programme Leader
The Programme Leader and Deputy Programme Leader are responsible for providing academic and organizational leadership for the programme through the
Undergraduate Programme Committee and the Programme Executive Group. The Programme Leader and Deputy Programme Leader are accountable to the Head of Department for day-to-day operation of the programme.
- Subjects Coordinator
The Subjects Coordinator is responsible for coordinating the schedule of the assignments/tests of all subjects to balance the workload of students.
- Tutors
The Tutors assist the Programme Leader in the operation of the programme. They co-ordinate among the subject lecturers the student assignments to ensure an even workload. They also help to collect and analyze feedback from students and staff. In addition, the Tutors and the Programme Leader provide counselling to students with difficulties in their studies.
- Programme Executive Group
This group, consisting of the Programme Leader and Tutors, monitors the day-to-day operation of the programme, and initiates discussions on possible modifications and improvements.
- Student/Staff Consultative Group
This group, consisting of the Programme Leader, Tutors and student representatives, meets at least once per semester to discuss the programme in general, the demands of the programme on students, and possible improvements. It gives students the opportunity to contribute to the operation of the programme.
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