Hindu College is all set to launch actuarial science as an add on course on 16 August 2012. Hindu College will run the course in collaboration with an insurance firm. The college is the first of its kind to initiate a course like this in Delhi University.
The eligibility of the course is that the student should be aged minimum of eighteen and needs to have scored at least eighty five percent in Maths in Class twelve. There is no upper age limit and graduates and post-graduates are can apply too, provided they have fifty five percent in maths or math-related subjects.
Actuarial science involves the use of mathematics and statistics to understand the financial impact of future events. Considering their chief function as risk assessors, actuaries are most often employed in the insurance sector. For life-insurance, for instance, actuaries will focus on analysis of mortality. Actuarial models are generally used to price insurance products.
The course has been brought into place to prepare students for the exams conducted by the Institute of Actuaries of India. Exams are held twice a year and there are twelve compulsory papers, including maths, statistics and general insurance.
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