Dear Vishu, Acturial Science is a field of study that applies Mathematical and Statistical methods to assess risk in Finance, Insurance and other industries and professions. It involves the process of identifying any risks in the process and then evaluate tje situation and come up with a solution to minimise the risk. B.Sc Acturial Science is a 3 year Undergraduate programme  and the admissions are conducted based on Acturial Science Entrance Examination. This test is conducted by Institute of Actuaries of India. The registration has started and will go on until April 30th. The exam pattern is pretty simple with 70 questions asked in MCQ format with Mathematics, Statistics and Data Interpretation covering 55% and English and Logical Reasoning taking over the remaining 45%. Based on the city you are from, you might have coaxhing centres. However, you can do it on your own by focussing on few topics.

• Mathematics: Notation and Standard Functions, Numerical Methods, Algebra, Differentiation, Integration, Vectors and Matrices.
• Statistics: Permutations and Combinations, Types of data, Measures of location, Measures of speed, Probabilities, Advanced Probabilities, Discreet random variables, Continous random variables, Discrete distributions, Correlation, Regression, etc. 
• Data Interpretation: Tables, Column graphs, Bar graphs, Line Charts, Pie Chart, Venn Diagrams and Caselets.