Actuarial Science Syllabus 2025: Check Semester-wise Syllabus & Subjects
Vidhi JainContent Writer
Actuarial Science is a course that focuses on predicting future events in various fields like finance, economy, insurance, etc. It requires a deep study and research to access the data which is helpful in the prediction. Thet's why the syllabus of Actuarial Science is focused on mathematical and statistical techniques used to find the probability of different events in different industries.
Actuarial Science Syllabus Important Facts
The space below mentions the important facts about the Actuarial Science syllabus:
- Candidates have options like - BBA in Actuarial Science, BSc in Actuarial Science, MBA in Actuarial Science, MSc in Actuarial Science, etc.
- The durations of the courses is different according to the course levels. The UG courses are of 3 years but PG courses are of 2 years.
- The Institute of Actuaries of India is the best institution for Actuarial Science. The syllabus is common usually but the IAI syllabus is more deep and vast.
Actuarial Science - Subjects
Candidates can see the list of core and elective subjects in the Actuarial Science course below:
Actuarial Science Syllabus - Core Subjects
Candidates can see the list of core subjects in the Actuarial Science course below:
|
Subject title |
Subject details |
|---|---|
|
Actuarial Statistics |
The essential features of statistical distributions and principles of statistical inference are covered in this subject. |
|
Actuarial Mathematics |
It covers the basic principles and related theories of actuarial modelling. |
|
Business Finance |
A basic understanding of corporate finance, managing financial risks, and related concepts is provided to the students. |
|
Business Management |
The basic principles of business management are discussed in this subject. |
|
Risk Modelling & Survival Analysis |
The students get acquainted with the use of statistical distributions for risk modelling, techniques of survival analysis and their applications, etc. |
|
Financial Engineering & Loss Reserving |
The theories of behaviour of financial markets, benefits of measures of investment risk and their disadvantages, asset evaluation, liability valuations, and other concepts are included in it. |
|
Business Economics |
The core economic principles and their applications in the business environment are covered along with the fundamental concepts of microeconomics and macroeconomics. |
|
Actuarial Practice |
The Actuarial Practice focuses on teaching the students how to apply the knowledge they acquired through Actuarial Modelling, Actuarial Statistics, and other business subjects in solving real-world business issues. |
|
Modelling Practise |
The focus areas of this subject are making the students undertake data analysis and visualisation projects and creating an actuarial model to resolve a real-world business problem. |
|
Communications Practise |
This subject teaches the students how to choose language and communication methods to convey technical concepts to a non-technical audience. |
Actuarial Science Syllabus - Elective Subjects
Candidates can see the list of elective subjects in the Actuarial Science course below:
|
Subject title |
Subject details |
|---|---|
|
Health & Care |
It explains how the actuarial techniques of management are relevant to the healthcare sector. |
|
Pension & other benefits |
The actuarial principles related to business management and planning and their applications in the management of pension and other benefits are included in this subject. |
|
Financial Derivatives |
Financial derivative management and its uses in different industries are explained in it. |
|
General Insurance - Pricing |
It explains the applications of actuarial practice in the field of general insurance and also provides recommendations for pricing for a general insurance business. |
|
Life Insurance |
The market for life insurance services and products and the business environment are discussed in this subject. |
|
Investment & Finance |
The applications of actuarial management techniques in the field of investment and finance are covered in it. |
|
General Insurance Reserving and Capital Modelling |
The methods and principles involved in capital modelling and reserving in the general insurance business are covered in this subject. |
Actuarial Science Syllabus - Detailed
Candidates can see the list of detailed subjects in the Actuarial Science course below:
|
Semester |
Core/Elective |
Subject Title |
Subject Details |
|---|---|---|---|
|
Semester 1 |
Core |
Classic Algebra |
Binomial Series, Theory of Equations, Matrices, and related concepts are covered in this subject. |
|
Core |
Calculus |
It includes concepts like Integration, Multiple Integrals, Beta and Gamma Functions, etc. |
|
|
Semester 2 |
Core |
Trigonometry and vector calculus |
It covers concepts like Expansions and hyperbolic functions, Integral Theorems, Differences between scalar and vector point functions, etc. |
|
Core |
Microeconomics |
The definition of microeconomics, the law of demand and supply, and related concepts are covered in this subject. |
|
|
Core |
Environmental Science |
It teaches the importance of the environment and various environmental factors that can affect human life. |
|
|
Semester 3 |
Core |
Differential Equations and Laplace Transformations |
Ordinary differential equations, second-order differential equations, partial differential equations, inverse Laplace transforms, etc. are covered in this subject. |
|
Core |
Basic Accounting Concepts |
It teaches the basic accounting concepts like types of account, accounting records and systems, accounting mechanics, etc. to the students. |
|
|
Core |
Sampling Theory |
The concepts like random sampling, types of sampling, testing of hypothesis, fundamentals of mathematical statistics, etc. are discussed in this subject. |
|
|
Elective |
Life Insurance & General Insurance |
The concepts of life insurance and general insurance business with respect to actuarial practices are covered in it. |
|
|
Semester 4 |
Core |
Financial Mathematics-I |
It discusses the concepts like cash flow model, discounting and accumulating, investments, and level annuities. |
|
Core |
Basics of Life Contingencies |
Simple assurance, annuity contracts, annuity benefits, office premiums, and other related concepts are covered in it. |
|
|
Core |
Mortality and Markov Chains |
Concept of force of mortality, select and ultimate lives, future life random variables, etc. are included in this subject. |
|
|
Elective |
Operation Research |
It talks on the basic fundamentals of operation research. |
|
|
Semester 5 |
Core |
Abstract Algebra-I |
Definition of groups and subgroups, normal subgroups, cyclic groups, rings, and their homomorphism, etc. are discussed in this subject. |
|
Core |
Real Analysis-I |
The real number system, sequences, series, finite and infinite series, and related concepts are included in it. |
|
|
Core |
Financial Mathematics-II |
It covers concepts like equation of value, deferred and increasing annuities, interest calculation, etc. |
|
|
Elective |
Time Series & Forecasting |
It includes concepts related to time series and forecasting in business. |
|
|
Elective |
Insurance Underwriting & Risk Management |
Rules of underwriting in insurance and risk management concepts are introduced through this subject. |
|
|
Semester 6 |
Core |
Abstract Algebra-II |
It includes concepts like vector spaces, Rank and nullity theorem, matrices, etc. |
|
Core |
Real Analysis-II |
Metric spaces, closed and open sets, functions, continuous functions, and related concepts are covered in it. |
|
|
Core |
Complex Analysis |
Analytic functions, integrals, evaluation of integrals, transformations, and related concepts are discussed in this subject. |
|
|
Elective |
Financial Management |
The basics of financial management and evaluation of risks are included in it. |
|
|
Elective |
Mathematical Modelling |
It talks on the actuarial practices and mathematical techniques used to resolve real-life problems. |
Actuarial Science Syllabus - Specialisations
Candidates can see the list of specialisations offered in the Actuarial Science course below:
|
Specialisation |
Subjects |
Details |
|---|---|---|
|
Economics |
|
The techniques used in predicting or forecasting economic conditions are covered in this specialisation. |
|
Finance |
|
It covers the different aspects in finance modelling, risk evaluation in terms of finance, and management of finances. |
|
Health Administration |
|
How data plays an integral role in healthcare administration is covered in this specialisation. |
|
Insurance |
|
How to run an insurance business and different types of insurances are integrated in its syllabus. |
|
Ecommerce & Digital Marketing |
|
How data predicting tools and techniques are employed in e-commerce and digital marketing practices are covered in it. |
|
Data Analytics & Predictive Algorithms |
|
It talks on data analytics and techniques used for collecting, interpreting, and understanding the data. |
|
Business Consulting |
|
This specialisation talks on how business consultation can help to streamline businesses. |
Actuarial Science Syllabus - Books
Candidates can see the list of books suggested in the Actuarial Science course below:
|
Subject |
Book Title |
Authors |
Description |
|---|---|---|---|
|
Complex Analysis |
Complex Variables and Applications - 4th Edition |
R. V. Churchill and J. W. Brown |
The different concepts like transformations, integral evaluations, etc. are covered in this book. |
|
Real Analysis |
Mathematical Analysis - 2nd Edition |
Tom. M. Apostle |
It includes concepts like compact metric spaces, Riemann Integral, continuous functions, etc. |
|
Abstract Algebra |
Linear Algebra |
Shama JN and Vashistha |
The basic concepts of linear algebra are described in this book. |
|
Abstract Algebra |
A First Course in Abstract Algebra |
John B Fraleigh |
It is an ideal book for beginners who want to understand the basics of abstract algebra. |
|
Financial Mathematics |
Actuarial Mathematics |
Bowers & Newton |
The concepts related to financial mathematics and their applications in actuarial science are covered in this book. |
|
Real Analysis |
Methods of Real Analysis |
Goldberg R. |
The concepts like axioms, sequences, and series are explained well in this book. |
|
Abstract Algebra |
Topics in Algebra |
Anton H and C. Rorres |
It includes the topics and fundamental theorems of Linear Algebra. |
|
Abstract Algebra |
Elementary Linear Algebra |
Herstein I. N. |
The elementary concepts of Linear Algebra are included in it. |
|
Mortality and Markov Chains |
Actuarial Mathematics for Life Contingent Risks |
David Dickson, Mary Hardy, and Howard Waters |
The concepts like life contingency, laws of mortality, etc. are introduced in this book. |
|
Basics of Life Contingencies |
Life Insurance Mathematics |
Gerber and Hans U. |
It talks about simple assurance, annuity benefits, and other related concepts. |
FAQs on Actuarial Science Syllabus
Q: Which are the Core Principles subjects in Actuarial Science?
- Actuarial Applications in Life Insurance
- General Insurance & Employee Benefits
- Investment
- Financial Management
- Business Management
- Financial Economics
- Economics
- Business Communication
- Theory of Actuarial Science
- Financial Reporting
Q: Which are the Core Practices subjects in Actuarial Science?
- Health Insurance
- General Insurance
- Life Insurance
- Investment Management
- Annuity, Pension, & other benefits
Q: Which are the popular postgraduate courses in Actuarial Science?
- MSc. in Actuarial Science
- MBA in Actuarial Science
- PG Diploma in Insurance Science
- PG Diploma in Actuarial Science
- MSc. in Insurance Business
Q: Which are the important topics for the Calculus subject in Actuarial Science?
- Differential Calculus: Limits of a function, partial differentiation and total differentiation, continuous functions, etc.
- Integral Calculus: Review of definite and indefinite integral, beta and gamma functions, change of order of integration, double integral, etc.
- Differential Equations: Integration factors, Exact differential equations, etc.
Q: Which are the main topics for the Linear Algebra subject in Actuarial Science?
- Vector spaces
- Algebra of Matrices
- Determinants of matrices
- Rank of a matrix
- Sum and Product of two matrices
- Singular and non-singular matrices
- Subspaces
- Sum of subspaces
- Linear independence and dependence
- Dimension & basis
- Dimension theorem
Q: Which main topics are covered in the Basics of Life Contingencies subject?
- Whole life assurance, term assurance, endowment assurance, and assurance benefits
- Annuity benefits, whole life annuity, deferred and temporary annuity, variable life annuity as per increasing life, etc.
- Net premiums for assurance plans
- Office premiums
- Net premiums for annuity plans
Q: Which are the important concepts covered in the Real Analysis subject?
- Real number system: Order and fields of Axioms, rational and irrational numbers, triangle inequality, etc.
- Sequences: Monotonic and bounded sequences, divergent, convergent, and oscillating sequences, etc.
- Behaviour of monotonic sequences
- Series: Finite and infinite sets, Comparison test, etc.
- Alternating series
Q: Which are the main topics covered in the Financial Mathematics subject?
- Equation of Value: Its definition, deferred and increasing annuities, etc.
- Loan schedules and its introduction
- Calculation of interest and capital elements of the loan schedules
- Single and series of payments
- Consumer Credit: Annual and Flat Percentage Rates
- Prospective and Retrospective loan calculation
Q: Which are the elective courses that the students can select in Actuarial Science?
- Life Insurance & General Insurance
- Operation Research
- Time series and forecasting
- Insurance underwriting and risk management
- Financial Management
- Mathematical Modelling
Q: Which are the allied courses that the students can select in Actuarial Science?
- Mathematical Statistics - I
- Mathematical Statistics - II
- Practical - R Programming
- Physics - I
- Physics - II
- Practical Physics
Q: What is the syllabus for the Group Insurance elective course in Actuarial Science?
- Group Insurance & its meaning
- Segments of group scheme markets
- Group underwriting: Rate marketing and experience rating adjustment
- Types of group insurance in India like group gratuity, group superannuation, group credit insurance, etc.
- Claims and renewal processes of group insurance
- Administration in group insurance
Q: What is the syllabus for the Retirement Benefit elective course in Actuarial Science?
- Employee benefits in India: History of PF, superannuation, and gratuity schemes in India
- Gratuity and Superannuation Schemes: Arranging them in different methods, unfunded and funded schemes, insured and trustee administration schemes
- Methods of costing
- Legal Aspects and taxation
- Pension products and annuities
Q: What should the students do after they clear the ACET?
Q: What is the difference between Chartered Accountancy and Actuarial Science?
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News & Updates
Oct 14, 2025
Student Forum
Anything you would want to ask experts?Answered 4 weeks ago
Check below institutes -
- Mumbai University
- SIES College of Arts, Science and Commerce, Mumbai
- Yashwantrao Chavan Maharashtra Open University, Nashik
- Amity University, Noida
- Bishop Heber College, Trichy
Scholar-Level 17
Answered 2 months ago
You can surely get admission to the BSc Actuarial Science course without giving any entrance exam. There are a decent number of colleges that give admission to the course on the basis of Class 12 merit and may take extra rounds like the GD/PI to assess your abilities.
A few colleges include Mumbai Un
V
Contributor-Level 10
Answered 2 months ago
You can find some basic tips for clearing the Actuarial Science admission tests smoothly given here –
- Have a look at the entire exam syllabus in detail and note down all the important topics to be covered in a separate notepad/notebook.
- Make a weekly timetable where you assign at least 2-3 topics to b
V
Contributor-Level 10
Answered 2 months ago
The time required to prepare for the entrance exams for admission to Actuarial Science courses varies on the basis of the course level and specific exam you're planning to sit for. Generally, it is better to start your preparation at least 6 to 8 months before the final exam is tentatively scheduled
V
Contributor-Level 10
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