Financial and Actuarial Mathematics

Nappy

im most likely startin a degree in financial and actuarial mathematics in Sep and was just looking 4 any comments about the course, exams? is it tough? hours per week? advice on wat ill need, pro's and cons..
Cheers..

carlowboy

I just finished first year and I love it.

If you genuinely like maths, and competent with computers, it's not tought at all...at least not in first year. As for hours per week, it's about 17 odd for the first semester but 4 of them are labs so you probably won't be in for the whole 4 hours every week. Add another 2 hours then for the second semester with the addition of Statistics and 2 hours less of labs.

You'll have to work hard enough, you'll probably have one exam each week in analysis or linear algebra but at least it'll help you out when you're revising. I'd advise to go to as many lectures as possible, especially analysis and linear algebra.

Nappy

Cheers thats brillliant news... Im fine on the Maths front, its just the computers that willl test me, Is it just programming and the likes? Did u have any previous experience in that field?

csm

i did it with no previous programming experience at all and it was fine. if you can cope with the maths you'll find the coding a doddle

Nappy

Good good! Many 9 o clocks?

carlowboy

Nappy wrote: »

Good good! Many 9 o clocks?

Well I'd say 3 out of the 5 days per week you'll be in will be 9 o clock with 10 o clocks making up the rest. We had Fridays off in the second semester so you may be lucky that way.


As for proramming, I never did it before and had no problems. A hint is to do the labs yourself and not to rely on others and in paired programming not to just sit back and let your partner do all the work.

Nappy

Oh one more thing, I got 510 in my leaving, will that be sufficient? i know I meet the course requirements but id imagine most who dont get the ucd points will go to DCU and there points would surely beat mine, What did u get?

carlowboy

I got 545 but honestly, point don't count for jack sh*t. Don't worry about it. People who get 490 points can do as well as people who got 600.

Nappy

carlowboy wrote: »

I got 545 but honestly, point don't count for jack sh*t. Don't worry about it. People who get 490 points can do as well as people who got 600.

What I meant was will 510 be sufficient to get me in, is there many u know who got 490 and got in? Thanks 4 all the help!

carlowboy

Oh yeah it'll be grand. There are a good few people in that ball park

tinkerbell

Nappy wrote: »

Oh one more thing, I got 510 in my leaving, will that be sufficient? i know I meet the course requirements but id imagine most who dont get the ucd points will go to DCU and there points would surely beat mine, What did u get?

Nappy, don't just assume that people would put down UCD first and DCU as a backup! Not many people seem to know this but Fin & Act Maths was first done in DCU so they are the original actuarial course in Ireland, UCD came along after.

I also think that DCU is a better college than UCD so I put down DCU as my first choice.

Having gone through all four years of lovely Fin & Act Maths in DCU, let me summarise it a bit:

1st yr - lots of technical maths subjects, not like Leaving Cert maths at all. Prepare to work hard. You also get to do computer programming (is it still Java?) which is great, it was actually my fav part of 1st yr. So much that I felt like doing Computer Applications instead! But I said I'd stick it out and I'm glad I did now

2nd yr - quite hard so you need to work a lot harder than first yr.

3rd yr -you only do one semester and the second is on INTRA.

4th yr - I actually found 4th yr to be the easiest of all years but then again I was studying every single night after lectures, it's what you gotta do unfortunately in a course like that!

About starting times - usually 9 / 10 o clock, sometimes for full days, usually you get Fridays off. I think I only ever had one semester with a Friday morning lecture and I think after a few classes we asked for it to be moved to a different day and the lecturer did

I cannot say this enough -work your ass off with exemption subjects, just get them out of the way so you don't have to waste time doing more exams than needed when you finish college and want to qualify as an actuary.

Anyway good luck with the course! I'm working nearly 3 yrs now and the job is great and I'm delighted I did the course, hope to be a qualified actuary very soon

Nappy

Thanks a mill Tinkerbell! What did you start off on in your first year of work, does salary increase dramatically after completing the main exams which qualify you as an actuary.. Wats the work force like anyway? Best of luck in up and coming exams..

tinkerbell

Hey Nappy, there's another thread that I posted on over in Work & Jobs about an actuarial career http://www.boards.ie/vbulletin/showthread.php?t=2055300633

I think right now if you are straight out of college, depending on how many exemptions you have, you could get anywhere between €25k and €30k. Your salary will go up with each exam you pass and of course with experience so if you're passing exams very quickly one after the other your salary will go up pretty quickly. It's hard going working and studying at the same time, it's exhausting but that's why the rewards are so good. It's a really good area to get into.

There aren't too many actuaries in Ireland (which is a good thing) so there's always jobs going - I don't think anybody from my class had problems getting jobs after. There's different areas as well that you can get into - life insurance (departments are pensions, product development, valuations / financial reporting / embedded value), general insurance (motor, health, household, pet) and also investment.

Really try and do well in first and second year so that when you are applying for jobs for work experience, a good company will snap you up straight away - the companies generally just look on results for second yr so it's important that you do well!

EDIT: When you read the other thread in Work & Jobs, 8 out of the 9 CT exams are covered in the course in DCU so if you get them you'll only have to do 7 exams when you finish college. 2 of this 7 are two day courses so they don't really count, so really there's just 5 left then

SimpleLogic

thanks for all the information folks, but especially Tinkerbell brilliant stuff. I am also interested in this course. Few quick questions
-the 5 remaining tests. how long would you say about they would take to do?
-you probally wont know the answer to this but anway. Say if I did maths+economics in trinity would I get much exemptions?. Just asking as I am still not very sure what I want to do and think this course would still leave me with more options.
-I have heard the maths is pretty hardcore, is it really that bad compared to the leaving? Just finnished the maths paper a few days ago, didnt put a load of effort in but thinking I got in around 85%. Would I have much problems?
-What do you think about the option of going straight to a firm now and asking for a trainee position?
-and lastly . I have read a lot into being an actuary but still dont understand totaly what you would do all day. I know it is a broad profession and it could vary alot. What I am is afraid of is I would end up just pushing numbers into meaningless formulas or something like that. probably silly but just needed to ask.

(sorry this is a bit rushed , hope its understanable anyway)

tinkerbell

No probs folks, I wish I had someone giving me advice about the course when I started off! I knew absolutely nothing about actuary except that it was a good thing to go into if you liked maths and that it paid well and was also a very secure job ... that's all I knew! I loved maths so decided to go for it and am very glad I did now

Ok say you get 8 CT exemptions from college ... now this is hard work, a good few people in my class got the full 8 but not everybody. It ranged from say 2 - 8 maybe. So you'll need to work your ass off to get those 8, it's tough going, if ya can do it fair play and it'll be well worth it.

There's two courses to do while you're working, it's a course and a mini exam (one is business awareness, the other is modelling so you need to model stuff on an excel spreadsheet). You usually do these around 12 - 18 months after you start working.

The remaining 5 consist of CA1 (core applications), CA3 (communications), 2 ST exams (specialist technical) and 1 SA exam (the fellowship).

People usually do CA1 in the April sitting because the study session is longer. People usually do repeats in Sept or a smaller subject. If you do the exam and pass straight away, you'd prob do CA1 in April, 1 ST in Sept, 1 ST in Apr and prob SA the following April and leave the middle Sept blank for whatever you may have failed. Throw communications in there as well with whatever sitting. Everybody I know bar one girl has failed communications loads of times, we just can't pass it! It's a crap paper and you gotta explain actuarial terms in normal person terms which is just too difficult for actuaries

I'd say if you qualify within 3 years then you are doing a good job. But CA1 is a very tough paper, it's a monster of a course and the exam is two 3 hr exams (with an extra 15 mins reading time) all in the one day, so you do one paper in the morning, and one in the afternoon. And yes you are ready to die of exhaustion after it. Many people fail this first go - it's the way the actuarial exams are unfortunately! So ya just gotta factor that in. I do know a girl that passed everything on the first go but then she got stuck on the modelling course and had to resit the exam a few times. She got all the horrible hard ones outta the way and then got stuck on that one! Also I've heard of people passing all the exams but getting stuck on communications and end up doing it 7 times before they pass. Sorry for the horror stories but it does happen! Don't let that turn you off though - it's a great job, great prospects and job security.

My friend actually did maths & economics in Trinity and I think she said that she could've gotten 1 or 2 exemptions (from economics & stats I think?) but that's all I remember her saying. You should ring up Trinity and ask them as I'd say there are a few people that have done that course who are doing actuarial now. You even get people from engineering backgrounds (I know of two lads who did engineering in college and then decided to do the actuarial exams!)

The maths in Fin & Act Maths is pretty hardcore. It's nothing like the leaving cert. Yes there is some probability but that is later on in 2nd / 3rd yr and it's on a much higher level. The stuff you do in first yr I thought was insane - it's very theory based, everything is theorems, proofs, etc. There's nothing really like the Leaving Cert where you just have a formula for everything and work away. It is tough going but you get over it like! It's good that you're doing well in the leaving cert maths but really it's not the same kinda maths at all but it's a good base! I used to get 90% and up all through 5th & 6th yr in maths and I found the course very tough.

About needing a lot of computer skills ... you don't! I was the only computer nerd in my class, everybody else hated computers. You just learn as you go along. Programming was great though in first yr, I loved it.

About the going into a firm and asking for a trainee role ... I personally wouldn't recommend it. I know of one guy who did it and 10 yrs later he wasn't qualified as he found it so tough. I think he just gave up then. It is a whole different ball game to the leaving. You're far better off going to uni and getting a good foundation in actuarial maths and that'll help you with the later exams. Also if you don't have a degree, it won't look good on your CV and you'll also be kinda tied to the company til you've got a good few exams done. At least if you have a degree and a few exams under your belt you could just move to a different company pretty easily if you don't like where you're working. Whereas if you have no degree then you could be kinda stuck. Anyway I haven't really heard of places doing that anymore, it's all about having the 3rd level qualification these days ...

No you won't end up pushing numbers into a formula all day - it's not like that at all! There's nothing really that you learn in college that you would use in the everyday job. In the later subjects it more theory behind the insurance industry (like insurance products, etc) but all the hardcore maths you don't really use asuch!

I'm in Product Development and at the start ya support the sales & broker support department with very complex quotes that come in and need to be done manually (things like projecting your savings premiums forward to see what they'd be worth in a few years time taking into account charges, etc.; or any sort of quote that can't be done on the quotes system). Then you also get the sales guys coming in who want to give enhanced terms on pension cases, savings cases, premium discounts, etc. so you need to calculate how much of a special deal you can give them taking into account the profit the company needs to make. The main area of Product Development is pricing so you'd be either pricing new products or making existing products more competitive, i.e. deciding on what charges to charge on pensions & investment, deciding what premiums to charge on protection products (life assurance and income protection), that kind of thing. Product Development is a really varied job because you're pricing new things all the time so it's not repetitive and boring.

There are other areas as well - pensions: they do defined benefit schemes (where your pension when you retire is set in stone and you just pay premiums to support that), they value the schemes and decide what premium needs to be paid to cover the pension, etc.

There's also financial reporting / valuations / embedded value - they value the liabilities of the life insurance company regularly (i.e. how many claims we have in, how long income protection claims can go on for, that kind of thing). I can't really say anymore as I don't really know much about those areas as I've only worked in Product Development. Anyway it prob won't mean anything to ya now since ya haven't started working yet and it won't until then

That was a looooong post! Let me know if there's anything else ya need to ask. I don't mind at all, I'd have preferred to have somebody in the profession talk to me when I hadn't a clue about anything relating to actuary back when I did the Leaving!

Shadowless

Just a couple of things to add (though there's not much with the great posts above)

I'm just finished up with this degree this year.

For starters it's a great course and first year is relatively painless.

For anybody sitting on the fence between UCD and DCU I was in the same boat 4 years ago. I had the points for both but decided on DCU in the end and it was definitely the right choice for me. Some things you should think about if you're betwixt and between.

The DCU course is more mathsy while the UCD one takes a more business approach (DCU one is run through math-science dept while UCD one is run through the Quinn School of Business)

You're guaranteed on-campus accom in 1st year in DCU if you get over 500 points.

The commute. Obviously the Northside is easier for some people and the Southside is easier for others. You'd be surprised how much of an impact this can have.

There's obviously more stuff too but don't want to write a novel here.

The other thing I would mention is that the degree opens alot more doors career-wise than just that of an actuary. Don't think that if you choose this degree now your doomed to be an actuary forever. I'm going into trading and there's hundreds of financials out there crying out for competent math-finance graduates. You'll have plenty of options on graduating so I wouldn't be too worried if you're not 100% sure actuary is for you.

tinkerbell

Yep shadowless is right! The course opens a lot of doors for you - you can work in actuarial, investment banking, trading, even quantitative analysis (although there's a quant course in DCU now - but a lot of the subjects are very similar to the Financial & Actuarial Maths course).

Also yes DCU is more mathsy, but I think this is better as it does open way more doors for you if you wanna go into a more technical math area once you graduate.

One more thing - the old fashioned stereotype that actuaries are more boring than the footnote on a pension plan no longer exists It might have been that way years ago but now it seems to be the course that all the "cool kids" wanna do ... he he so not so boring anymore

jennyq

I just want to say a huge THANK YOU to everyone who has been posting, I've this course down as my first choice too & it's really reassuring to read this! I was a bit concerned about the whole UCD vs. DCU thing as I think there can be a little bit of snobbery about it amongst some people, but so far I think DCU over UCD is right for me.

Just what you were saying about the maths being very different to LC maths, I guess its hard for you to tell what everyone thinks about it, but in general would someone who likes & is good at Maths at LC level still like the maths involved on this course? I think I like maths now anyway but I don't want to start college & realise I actually hate it

siobhanoh

Hi, just want to throw a bit in!
I'm just finished second year and i have to say i found it so hard. I chose this course because I was told that it was a good course to do if you were good at maths. I had always been good at maths but then I only got a B2 in the leaving and I was very dissapointed but got into the course anyway. I really didn't know what was ahead...

First year in DCU is always gonna be amazing. The college itself is the only thing that kept me going, I had the best year of my life but I did do the odd bit of studying for the class tests every week/fortnight. I never went to economics lectures. They were first thing on a monday morning and last thing on a thursday evening when I'd be rushing to my part time job(and barcode!). The odd time I did go to economics, I would get nothing done because you're put in with all the business classes and I'd be chatting to my friends. I'd advise you to go though, it's an exemption subject and it is actually a really hard exam even though the lectures don't seem that bad. Programming is grand, just go to lectures and you'll pick up everything easily. The lecturer in the first semester, Charlie Daly, is brilliant and very approachable. Second semester programming is much harder so you really need to go to lectures even though they get extremely boring without Charlie. Linear Algebra is easy once you understand matrices. Analysis is quite hard because you havn't really come across anything like it in the Leaving. Oh and Stats in second semester is no problem really compared to what's coming...

My main problem in first year was going out too much. If only you were graded on your social life!! I would definitely advise it though! Now the actuaries aren't the wildest on the social scene so i'd advise to make friends with a few out of the business school (always up for going out due to lack of lectures!) and a few GAA heads to get you into Coppers when you're too young!

Then I started Second year. I was looking forward to it but the subjects took a huge leap in the hard direction! Probability I is really hard because of the lecturer but just do the exam papers. Accounting I is simple if you have done it for the leaving, its junior cert stuff. Accounting II is completely different. Well there are loads of subjects in second year and they are all quite tough. I have heard the second semester of second year is the hardest part of the course, so hopefully things can only get better!

Definitely would advise DCU over UCD, I have a million reasons but basically DCU is better craic and more friendly. The course is tough and it requires alot of hard work.

I really am waffling and I will probably think of a million other things to add but basically I'm the normal person in the class who has fun as well as studies but i find it verrry tough! If you are a study freak, it won't be a problem for you!

siobhanoh

Hi, just want to throw a bit in!
I'm just finished second year and i have to say i found it so hard. I chose this course because I was told that it was a good course to do if you were good at maths. I had always been good at maths but then I only got a B2 in the leaving and I was very dissapointed but got into the course anyway. I really didn't know what was ahead...

First year in DCU is always gonna be amazing. The college itself is the only thing that kept me going, I had the best year of my life but I did do the odd bit of studying for the class tests every week/fortnight. I never went to economics lectures. They were first thing on a monday morning and last thing on a thursday evening when I'd be rushing to my part time job(and barcode!). The odd time I did go to economics, I would get nothing done because you're put in with all the business classes and I'd be chatting to my friends. I'd advise you to go though, it's an exemption subject and it is actually a really hard exam even though the lectures don't seem that bad. Programming is grand, just go to lectures and you'll pick up everything easily. The lecturer in the first semester, Charlie Daly, is brilliant and very approachable. Second semester programming is much harder so you really need to go to lectures even though they get extremely boring without Charlie. Linear Algebra is easy once you understand matrices. Analysis is quite hard because you havn't really come across anything like it in the Leaving. Oh and Stats in second semester is no problem really compared to what's coming...

My main problem in first year was going out too much. If only you were graded on your social life!! I would definitely advise it though! Now the actuaries aren't the wildest on the social scene so i'd advise to make friends with a few out of the business school (always up for going out due to lack of lectures!) and a few GAA heads to get you into Coppers when you're too young!

Then I started Second year. I was looking forward to it but the subjects took a huge leap in the hard direction! Probability I is really hard because of the lecturer but just do the exam papers. Accounting I is simple if you have done it for the leaving, its junior cert stuff. Accounting II is completely different. Well there are loads of subjects in second year and they are all quite tough. I have heard the second semester of second year is the hardest part of the course, so hopefully things can only get better!

Definitely would advise DCU over UCD, I have a million reasons but basically DCU is better craic and more friendly. The course is tough and it requires alot of hard work.

I really am waffling and I will probably think of a million other things to add but basically I'm the normal person in the class who has fun as well as studies but i find it verrry tough! If you are a study freak, it won't be a problem for you!

cartman444

Hi im thinking of doing this course also but I'm worried that I might not be able to cope with the maths side! I like maths and Im hoping a get a B3 with a bit of look but I'd say I'll end up with a C1. Anyway if I do manage to get the B3 do you think I'd still be able to cope with all the maths?

Xanthos

You could get a B3 and be well able to do the course but I'd say someone only aiming for a B3 might struggle a bit - it's probably the wrong outlook to have decided you can't aim higher...

I got a B2 in the leaving cert and don't overly struggle with the course. It does have its tough moments though. I nearly changed course in first year but I'm glad I didn't now.

cartman444

Xanthos wrote: »

You could get a B3 and be well able to do the course but I'd say someone only aiming for a B3 might struggle a bit - it's probably the wrong outlook to have decided you can't aim higher...

I got a B2 in the leaving cert and don't overly struggle with the course. It does have its tough moments though. I nearly changed course in first year but I'm glad I didn't now.

cheers for the info!

one more thing, is there a huge workload in the course and is it ALL maths?

carlowboy

cartman444 wrote: »

cheers for the info!

one more thing, is there a huge workload in the course and is it ALL maths?

Well going by first year, I don't think there's a massive workload. I only studied an hour a week during semesters for class tests of which there are one per week. I did cram like f*ck though for the Summer exams.

As for maths, there are 2 maths modules in the first semester of first year, analysis and linear algebra. Other modules are computer programming and economics so not all maths. Second semester had the addition of statistics. I think the amout of maths increases through the years I think.

SimpleLogic

I was thinking about doing this course but I only realised now the course has changed!!!

NO longer financial and Acturial Maths. DCU booklet didnt even have this change but is up on the site. Thought this was really bad from DCU.

You can now do a broad course "
Common Entry into Actuarial, Financial and Mathematical Sciences

" but will speacilise after . I like this but thing is you are not guarenteed a space it the area you speacilise which is bull crap. Space could be limited so people with the higher results get in.

You have the choice of doing other new courses Actuarial Mathematics or in Quantitative Finance . but from dcu website "If you are certain that you want to pursue an actuarial carreer" choose this course .which I am not. same goes for Quantitative Finance .

Maybe I am wrong and people know this but reading post above doesnt seem so. I no longer think I want to do this course :-(

tinkerbell

I don't think the course has changed ... it's up on the website:

http://www.dcu.ie/prospective/deginfo.php?classname=FM&mode=full&originating_school=41

I think they have just ADDED the common entry course where you can specialise in one of the three areas, think the standalone courses are still there though.

sunnyjim

You're right to be careful about common entry courses. One year in DCU, people who entered CE Science got bull****ted out of taking up one of the biology related degrees, as they took no-one from common entry into the 2nd year of the course. They had to go off and pick different options.

Ace2007

can't really add much - but i notice no third year's posted so i might as well..... looking back at first - wow the memories - it was handy enough if u did the work, as for computer programming, i cannot state it any stronger than DO IT YOURSELF, been in pairs can just result in one person doing the work and a bit of craic, i had a good lab tutor(shadowless) but just ended up messing most of the time in the labs, passed first semester computers, second semester came along - and though it was going grand, obv not as i failed it in the summer, spent the summer studying it - and actually got to the stage that i really like it. One tip i would have is to get java installed on your laptop - will help loads, from what i can remember the rest where ok. ecomonics is the only exemption.

Second year, exemption subjects are accounting and stats,

you could teach a moneky in 2 days to get the exemption in stats, exams are the same questions every year, accouting one is grand, accoutning 2 - is more theory based but was ok as far as i can remember, other sujects - probability is hard - mainly due to lecturer imo, but you should pass them with some work.

Third year - exemption subjects are Stochastic modelling, Actuarial modelling, and risk theory, imo stochastic lecuter- emmual was really good - explained everything, act mod and risk theory- well not explained well(same lecuter, won't name him)- more learn urself - again exams handy enough - mainly cause he pratically tells you whats coming up. One thing i miss was the 3 day week we had - yes thats right - we had thursday and friday off - SWEETNESS

intra - o the joys of intra - 5 months into it and working away - from the sounds of it - some do little work and some like me are snowed under(10 hour work day yesterday), it does give ya a good insight into a 7 hour work day.

Lectuers: First year - Tom brady probably the best lecuter i've had so far, can't really remember the others, as already said emmual in third year is also really good.

Edit - u may notice my spelling is gone to the dogs..... i'm studying maths not english....

carlowboy

Ace2007 wrote: »

can't really add much - but i notice no third year's posted so i might as well..... looking back at first - wow the memories - it was handy enough if u did the work, as for computer programming, i cannot state it any stronger than DO IT YOURSELF, been in pairs can just result in one person doing the work and a bit of craic, i had a good lab tutor(shadowless) but just ended up messing most of the time in the labs, passed first semester computers, second semester came along - and though it was going grand, obv not as i failed it in the summer, spent the summer studying it - and actually got to the stage that i really like it. One tip i would have is to get java installed on your laptop - will help loads, from what i can remember the rest where ok. ecomonics is the only exemption.

Second year, exemption subjects are accounting and stats,

you could teach a moneky in 2 days to get the exemption in stats, exams are the same questions every year, accouting one is grand, accoutning 2 - is more theory based but was ok as far as i can remember, other sujects - probability is hard - mainly due to lecturer imo, but you should pass them with some work.

Third year - exemption subjects are Stochastic modelling, Actuarial modelling, and risk theory, imo stochastic lecuter- emmual was really good - explained everything, act mod and risk theory- well not explained well(same lecuter, won't name him)- more learn urself - again exams handy enough - mainly cause he pratically tells you whats coming up. One thing i miss was the 3 day week we had - yes thats right - we had thursday and friday off - SWEETNESS

intra - o the joys of intra - 5 months into it and working away - from the sounds of it - some do little work and some like me are snowed under(10 hour work day yesterday), it does give ya a good insight into a 7 hour work day.

Lectuers: First year - Tom brady probably the best lecuter i've had so far, can't really remember the others, as already said emmual in third year is also really good.

Edit - u may notice my spelling is gone to the dogs..... i'm studying maths not english....

Stats was an exemption this year for first years. Paper was made harder as a result

SimpleLogic

tinkerbell wrote: »

I don't think the course has changed ... it's up on the website:

http://www.dcu.ie/prospective/deginfo.php?classname=FM&mode=full&originating_school=41

I think they have just ADDED the common entry course where you can specialise in one of the three areas, think the standalone courses are still there though.

This is all taken from the site.

"DC127 is a common entry route to four B. Sc. programmes in the areas of Actuarial, Financial and Mathematical Sciences: they areB. Sc. in Actuarial Mathematics B. Sc. in Financial Mathematics B. Sc. in Applicable Mathematics B. Sc. in Quantitative FinanceTwo of these programmes, the B. Sc. in Actuarial Mathematics and the B. Sc. in Quantitative Finance, also have direct entry. The name of our highly successful Financial and Actuarial Mathematics programme is renamed in 2008, and its core becomes the new Actuarial Mathematics programme. Prospective students wishing to directly enter the Actuarial Mathematics programme in 2008 should apply to DC126. In 2008, we are introducing the two new programmes in Applicable Mathematics and Financial Mathematics: access to these is exclusively through the DC127 gateway.One great advantage of common entry into four programmes is that, after a year's study,students will be better placed to know which of the four options they will enjoy most. You don't have to understand now the detailed differences between the four exit programmes:students will have a wide and genuine choice. ."

So its just re-named its saying but is the dropping of financial significant? But you can see on the link you pasted Tinkerbell, the information is still old as the old name is still mentioned below title, so does it need to be updated ?. then this bit also from the website " If you are certain that you want to pursue an actuarial carreer, apply for DC126. ". Would make me feel the course has changed because it seems like the course is now just mostly for student actuaries?

Could be wrong , just a bit off putting....

jennyq

From the research I've done about the course over the last year or so & from what they said at the open day explaining the new course & all, the Actuarial Mathematics (formerly Financial & Actuarial) is the exact same course as it always was but I think numbers are reduced. Now there's also the other Common Entry course & people from that course eventually end up in the Actuarial course in 3rd & 4th year or one of the other options on it. I think what the head of the course basically said was it gives people who might not have been able to get the points (say if you were good at Maths but dire at other subjects) more of a chance to do an actuarial degree & also it's got the other maths options if you're not so sure whether you want do go down the actuarial route or not. But it hasn't changed the Actuarial Mathematics DC126 course at all as far as I know.

Also big question for anyone who's done first year- is it best to have a laptop from day 1?

carlowboy

I had a laptop for first year but by no means is it a necessity. You'll have programming projects to do and a stats project for the second semester. It does help having it though.

Ace2007

tbh except for computer programming at home - laptop is useless

Ace2007

carlowboy wrote: »

Stats was an exemption this year for first years. Paper was made harder as a result

yea i forgot we did stats in first year as well for part of the exemption - its just that stats in second year is so easy to get the exemptin - makes no difference what you got in first year in theory...

carlowboy

Ace2007 wrote: »

yea i forgot we did stats in first year as well for part of the exemption - its just that stats in second year is so easy to get the exemptin - makes no difference what you got in first year in theory...

You better be right! I barely passed it!

jennyq

Just out of interest how many places are there on the course each year?

carlowboy

jennyq wrote: »

Just out of interest how many places are there on the course each year?

Roughly 50.