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Quick Facts
| Medium Of Instructions | Mode Of Learning | Mode Of Delivery |
|---|---|---|
| English | Self Study | Video and Text Based |
Course Overview
The Introduction to Actuarial science online certification program is apt for those learners who have a mathematical background looking for a promising career. The online course is offered by edX, a popular online education provider in association with the Australian national university (ANU). The Introduction to Actuarial science training will be both self-paced with instructor-led video lectures led by Professor Adam Butt. The Introduction to Actuarial science certification offers two learning ways: free audit sessions with limited benefits and verified sessions with complete benefits which include certification, graded assignments, and unlimited access.
The Introduction to Actuarial science syllabus includes the basic level Data analysis and science-based course mainly highlights and introduces the students to the concept of Actuarial science and its flexible applications across different areas of banking, finance, insurance, and investments; covering important concepts such as valuing cash flows and its applications such as Annuity certain, State transitions, Life tables, Valuing uncertain cash flows, detailing about working setup of and issues faced by Life insurance company and so on.
There are two pathways in which enrolling in this course of edX is possible. One is the verified track, and the other is the audit mode. During the audit mode, the candidates shall have limited time access to the course, but access becomes unlimited during the verified track.
The Highlights
- The course provided by edX
- Course length of 8 weeks with 2-4 hours/week
- Presented in association with ANU
- Introductory course on Data analysis and science
- Online and self-paced classes
- Lectures from experienced ANU instructor
- Official and shareable course completion certificate
- Free audit sessions for limited time
Programme Offerings
- video lectures
- Extension questions
- Final examination
- Discussion Forums
- Online Classes
- Resource links
- Instructor-led
- Online Class
- assessments
- Practise questions
Courses and Certificate Fees
| Fees Informations | Certificate Availability | Certificate Providing Authority |
|---|---|---|
| INR 4919 | yes | Australian National University |
- The verified track users are to pay the Introduction to Actuarial science fees in order to get the certification and claim complete benefits for the course.
- The audit sessions need not require any additional payments and are available to all enrolled students.
- The up-gradation fee that the students need to pay to become a verified track user is priced at ₹4,919
Fee category | Amount in INR |
Base fee | Nil |
Certification fee | ₹4,919 |
Eligibility Criteria
Education
Students applying for an Introduction to Actuarial science course are required to have a basic ( high-school level) knowledge in fundamental mathematical concepts of Probability, Algebra, and Calculus.
Certification qualifying details
The course certificate of completion for the Introduction to Actuarial science certification course will only be provided to those students who have purchased the upgrade for the given amount and become a verified track user. The students should also score an overall grade for the course at least B grade which requires a least of 40% marks in the Introduction to Actuarial science certification syllabus
What you will learn
As interesting as the course name suggests, the Introduction to Actuarial science by edX certification program provides enrichment of knowledge and skills like:
- Students will grasp a fundamental knowledge of Actuarial science and its applications in the Introduction to Actuarial science online course.
- Students will acquire practical skills in applying various concepts such as valuing series of cash flows.
- The in-depth understanding of how mortality and investment incorporate uncertainty into cash flows.
- Students are provided training in Excel or any other spreadsheet tool about Monte-carlo simulation in the Introduction to Actuarial science certification
- A skill-based training of applications of actuarial techniques on different life insurance schemes is taught to the students.
- Students study elaborately several ways for predicting the life expectancy of humans during the Introduction to Actuarial science training.
- Exploring different mediums such as banking, finance, insurance, and investments; to know the far-reaching applications of actuarial science.
- Students will investigate various company projects to understand the financial conditions in order to choose correct strategies using simulations as the Introduction to Actuarial science certification benefits.
- Students will learn how to implement statistical and mathematical methods to assess the problems and risks involved in various industries involving actuarial science.
- Students are provided with a close study on life insurance companies by providing scenarios and strategies based on simulations during the course.
Who it is for
The students mentioned below can find Introduction to Actuarial science by edX training, useful:
- Learners with an intention of building a career in this field with getting a keen knowledge of Actuarial science and its applications can choose the Introduction to Actuarial science benefits.
- Candidates with a strong mathematical background can work with this course.
Admission Details
The certification course provides an online registration process that is only a few clicks dependent.
The students can follow the given steps for course registration:
Step: 1- Direct to the course homepage- https://www.edx.org/course/introduction-to-actuarial-science and create a new edX account or link any of your prevailing social media accounts.
Step: 2- Verify the mail id that you have provided by clicking on the confirmation link sent to that ID and after verification, enrol in the course of choice.
Step: 3- After course enrollment, select whether you want to continue on the regular audit version or upgrade to a verified version. The students can choose to audit and pay later if they wish.
Step: 4- If you want to go for direct payment, proceed towards fee payment.
Step: 5- Using any of the given and comfortable payment options, complete the payment procedure and become a verified track user.
The Syllabus
- Time Value of Money
- Present Value
- Accumulated Value
- Valuing Multiple Regular Payments
- Equations of Value
- Example – Annuity Certain
- Application in Spreadsheets
- Introduction to State Transitions
- Two State Model (Active/Dead)
- Calculating Probabilities using the Two State Model
- Introduction to the Life Table
- Calculating Probabilities using the Life Table
- Expected Present Value
- Accumulated Value and Uncertainty
- The Life Insurance Company Scenario
- A Single Projection
- Simulations
- Analysing the Simulation Output
- Reserves
- Adjustments to Reserves
- Additional Scenarios
Instructors
Australian National University Frequently Asked Questions (FAQ's)
The Introduction to Actuarial science training makes a specification of using Excel or any spreadsheet supporting software. The default software is Microsoft excel. A suggestion of an alternative made is Open office.
Since this is a large online class, direct feedback from the tutors are not provided. The queries can be raised in the forum and the common ones will be answered.
The students are provided with UTC timing for standardizing the common classes and submissions. This timeline is provided to the students right after class enrollment for the course.
The students can access the complete Introduction to Actuarial science certification content even in an audit session but have limited access and extend the access by switching to a verified track.
The students are provided with complete benefits of the verified certificate of completion, graded assignments, and unlimited access to the Introduction to Actuarial science certification benefits if they become a verified track user.
If the students can manage multiple Introduction to Actuarial science courses by proper scheduling and time management, they can opt for any number of courses simultaneously. There is no limitation for course intakes.
Since this is a self-paced program, students are allowed to shift the submission dates with the ‘Shift due dates’ option as it is only provided to pace their studies.
The students should apply for financial aid within the date which is given as the deadline for upgrading the account into a verified track account.
If the students unenroll from the Introduction to Actuarial science program within the refund eligibility period of fourteen days from the class commencement date or purchase date, they can claim a full amount refund.
This is a self-paced course and hence, students should schedule their studies accordingly. They can resume the Introduction to Actuarial science online course after taking leave with the ‘Resume course’ provided within the course.