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[TheChamp-Sharing]
WPCS 2.1.2
Tuition Fees:$1,010 /year
Applications Begin:August 2021
Final Award:Bachelor of Science in Actuarial Science
Start Date:September 2021
Academic Unit:School of Pure and Applied Sciences
Campus:Main Campus
Application Deadline: September 2021
Programme Overview

Course rationale
The Bachelor of Actuarial Science Programme prepares a student for a career as an actuarial professional. Actuarial Science is concerned with the construction of models and solutions for financial, business and societal problems involving uncertain future events.

Actuarial practitioners, also known as actuaries, have been described as financial architects and social mathematics. Broadly speaking, actuaries forecast the cost of future risks and improve financial decision making by developing models to evaluate the current financial implications of uncertain future events.

Why study the Programme
Currently when large insurance firms and other organizations, require the services of an actuarial scientists, often they source for the scientists from the international market because shortage nationally and regionally.  This Programme intends to fill this critical gap in Kenya and the Region.

Target groups
O-level and A-level graduate’s holders who wish to take careers in Insurance firms, Pension departments of various organizations, Banks and other Financial Institutions. Stakeholders hold that the Programme require inclusion of marketing courses to make the Programme user focused

Objectives of the Programme
The aim of the Programme is to offer a degree Programme that meets the rising demand of managers with added quantitative background especially, in areas of life insurance, health insurance and financial forecasting. At the end of the training, the Programme will empower graduates to:

  1. Effectively Manage resources at their disposal according to contemporary economic, business management and technological trends;
  2. Carry out Researching business and management trends with a view to finding solutions to contemporary problems affecting development at various scales;
  3. Appreciate the complex relationship between the national economy and global economic trends, and have acquired knowledge, skills and attitudes for pursuing further studies in Actuarial Science.
  4. To equip students with theoretical knowledge and practical skills, develop and apply techniques of mathematics, statistics, probability and finance to solving real business problems.
  5. To offer high quality training in Actuarial Science locally and internationally
  6. To provide an opportunity for research in Actuarial Science and development of Actuarial products.
  7. To assist the student to prepare for several examinations of the faculty & Institute of Actuaries, the Casualty Actuarial Society and the society of Actuaries
Admission Requirements

The entry requirements set out below must be regarded as minimum requirements which in no way directly entitled an applicant to a place in the university. The following requirements must be fulfilled: –
a) A Kenya Certificate of Secondary Education (KCSE) with an average grade C+ (C Plus) or its equivalent passed from at least eight subjects as one sitting drawn from subject clusters as stipulated by the Kenya National Examinations Council.

Or
b) One of the following combinations of passes in the Kenya Advanced Certificate of Education (KACE) or Advanced Certificate Level of the General Certificate of Education.
i. Two Principals or Advanced Level passes of at least Grade C obtained at the same sitting.
ii. Two principals or Advanced Level passes obtained at different sittings provided that both passes are of Grade C or higher.

Or
c) Applicants who have not taken any of the above examinations must produce acceptable documentary evidence of having passed an examination of equivalent standards by a signed statement of attainment from the Head of the last school or College attended or from the respective education authority.
d) Additional entry requirements as may be specified by respective faculties, schools or departments

Exemptions and Credit transfers.

  1. Credit transfer from Bachelors to Bachelors should be  awarded only a maximum of one half of the of the minimum number of required units for the award of a degree
  2. No University common units should be offered a credit transfer.
  3. Credit transfers should be given a minimum of B in any unit.
Application Process
Application Fees for Kenyan and East African applicants: $9
Application Fees for International Students: $46

Application Guidelines:
**Application forms can be downloaded from www.mku.ac.ke or collected from the school campuses/ marketing centres. Duly filled application forms should be addressed to the Registrar – Academic Administration.

The following Documents should be made available:
– Copies of all academic certificates including secondary school certificates, Bachelors, Diplomas & Certificate level transcripts and certificates.
– One (1) recent passport size photograph (write your name on reverse side)
– Copy of national I.D/Passport.

Application fee is as follows:
– a) Kshs 1000 for Certificate, Diploma and under- graduate programs for the East African applicants. USD 50 for the Non-East African Applicants.
– Kshs 2000 for Postgraduate programmes for East African Applicants. USD 100 for Non-East African Applicants.

NOTE:
Application for admission does not guarantee admission into the University for course applied for; this will be subject to fulfilment of all requirements and class size as approved by the University Senate.

Career Opportunities

Career opportunities for this programme include:
– business analysts,
– budget analysts,
– research analysts,
– financial analysts,
– insurance underwriters
– insurance claims adjusters

Tuition Fees Details
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Tuition Fees for Kenyan and East African applicants: $1,010
Tuition Fees for International Students: $1,212

Tuition Fees for Kenyan Students = Kshs. 111,200
Tuition Fees for International Students = Kshs 133,440
Students from Countries in the East African  Community (EAC), pay the same amount as Kenyan Students. The six countries in the East African Community include; Burundi, Kenya, Rwanda, South Sudan, Tanzania, and Uganda.

NOTE:
– All international students (Non East African) are to pay additional (statutory fee, quality assurance & tuition fee) of 20% above the normal fee.
– The university fees payment can also be done in easy instalments within the semester. The instalments are as follows: 30% upon registration, 30%- second instalment, 20%-third instalment 20% – fourth instalment.

Relevant Contact

 
General School Office
General Enquiries
 
Admissions Office
Admission Enquiries