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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 4034	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 ₹4,034

Fee category	Amount in INR
Base fee	Nil
Certification fee	₹4,034

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

Financial knowledge

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)

1: Is there any specifications for any software for this course?

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.

2: Can the students directly contact the instructor for feedback?

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.

3: Is there any common timing recommended for students?

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.

4: Can the students access the complete course content in an audit session?

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.

5: What benefits are provided to the students in a verified track account?

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.

6: Can students choose and study multiple courses at the same time?

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.

7: Can the deadlines for assignments be shifted?

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.

8: Is there any last date for applying to financial aid?

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.

9: Can the students get full amount as a refund after cancelling the course?

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.

10: Is there any option for taking a leave in between the course?

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.