Actuarial Finance

The Bachelor of Actuarial Finance program at Birzeit University seeks to provide high quality actuarial education, which addresses financial and social uncertainties relevant to individuals, corporations and society, in addition to graduating actuaries who can compete at both the local and the international levels.

The bachelor of Actuarial Finance program aims to:

  1. Provide students with Finance, Economics, Statistics, and Mathematics knowledge necessary for the Actuarial Science.
  2. Equip graduates with analytical and professional skills to solve emergent financial and social problems.
  3. Reinforce ethical values, commitment, as well as personal and academic integrity.
  4. Produce globally recognized actuaries who contribute to the development of actuarial science and practice.

A.Knowledge and Understanding

On successful completion of the program a graduate will be able to:

  • Demonstrate knowledge of finance related to risk and return, portfolio and corporate theories.
  • Explain the theory of interest and its application to the pricing of derivative products.
  • Recognize the economic reasoning relevant to actuarial problems.
  • Understand statistical and mathematical methods to account for uncertainties in economics, finance, insurance, investment and pension.

B.Intellectual and Cognitive skills

On successful completion of the program a graduate will be able to:

  • Synthesize relevant data from multiple sources to address actuarial issues.
  • Identify and select appropriate tools and techniques based on mathematics and statistics to manage risk in insurance, investment and pension.
  • Apply quantitative approaches to a problem in order to find effective solutions.
  • Assess tools and techniques needed to solve actuarial problems and acknowledge their limitations.

C.Subject-Specific and Practical Skills

On successful completion of the program a graduate will be able to:

  • Build financial models to accommodate big data.
  • Simulate life contingency models.
  • Use computer algorithm to solve actuarial problems.
  • Identify assumptions and document computations to verify recommendations.

D.General and Transferable Skills

On successful completion of the program a graduate will be able to:

  • Prepare written reports, present and defend results to relevant audience.
  • Develop interpersonal and teamwork skills and enhance ability to respond to change.
  • Pass the professional exams organized by international actuarial institutions.
  • Adhere to highest standards of ethical and professional behavior.
  1. Actuarial insurance broker: Actuaries are able to develop life insurance products and pricing strategies based on risk assessment.
  2. Investment analyst: Actuaries are trained to analyze financial performance, evaluate risk prospects, and identify potential investments.
  3. Data/Business analyst: Actuaries analyze data to help business make better decisions in relation to financial, marketing and operational strategies.
  4. Fund administrator / manager: Actuaries are able to manage investment portfolios.
  5. Liability manager: Actuaries are able to establish strategies to manage obligations in financial institutions.
  6. Consultant: Actuaries provide advice on financial decisions and valuation. Actuaries also design insurance funds, retirement plans and future financial planning strategies.
  7. Financial manager: Actuaries has strong theoretical background and solid analytical skills needed for high profile positions.
Advisory plan

Student must successfully complete 134 credit hours distributed as follows:

Requirements

Credit Hours

University Requirements

21-22

Faculty of Business and Economics Requirements

25

Major Requirements

81

Elective Courses

7-6

Total

134

,
Major requirements (81 credit hours)

a. Compulsory courses: 72 credit hours which include the following courses:

Course No.

Course Title

Prerequisite(s)

ACCT230

Financial Accounting 2

ACCT130

ACFI331

Interest Theory

MATH2311

ACFI430

Practical Training in Actuarial Science

Department’s Chair approval

ACFI431

Life Contingencies 1

ACTS331 and STAT3321

ACFI434

Risk Theory

STAT3321

ACFI435

Survival Models

STAT3331

ACFI439

Seminar in Actuarial Science

Department’s Chair approval

ECON3311

Intermediate Microeconomics 1

ECON132, MATH1411

ECON3321

Intermediate Macroeconomics 1

ECON132, MATH1411

ECON432

Introduction to Econometrics

STAT2361

FINN2300

Principles of Financial Management

FINN1300 and ACCT230

FINN233

Principles of Insurance

FINN2300

FINN3300

Corporate Finance

FINN2300

FINN331

Corporate Financial Analysis

FINN3300

FINN431

Investment Management

FINN3300

FINN434

Financial Derivatives and Future Markets

FINN3300

MATH2311

Calculus 3

MATH1321

MATH234

Introduction to Linear Algebra

MATH1321

STAT3311

Statistics 2

STAT2311 

STAT3321

Probability Theory

STAT3311 and MATH2311

STAT3331

Statistical Inference

STAT3321 and MATH234

STAT3341

Regression Analysis

STAT3321 and MATH234

STAT435

Time Series Analysis

STAT3321 and MATH234

STAT436

Stochastic Processes

STAT3321 and MATH234

B. Elective courses: select any 6 credit hours from the following level 300 and above:

Finance courses

FINN

Economics courses

ECON

Mathematics courses

MATH

Statistics courses

STAT

Actuarial finance courses

ACFI