BS in Actuarial Science and Risk Management program is intended to provide students with the tools of risk analysis, transfer, and financing that are critical to the operation of private and public institutions, and to prepare them for careers in risk management and insurance. As a risk management major, student will gain a broad business background with an emphasis in accounting, finance and law, as well as a thorough knowledge of all types of insurance. BS in Actuarial Science and Risk Management is a four year degree program. It requires completion of 144 credit hours of course work and 2 credit hours of internship of at least six weeks in an organization approved by the Institute. Students graduating with a CGPA of 2.5 on the scale of 4 are eligible to apply for MBA program offered by the Institute.

Required Courses

Area  Course Code/Title
Accounting ACC101 Introduction to Financial Accounting
Communication COM107 Academic English
COM205 Persuasive & Analytical Writing for Bus. Com
Economics ECO101 Principles of Microeconomics
ECO102 Principles of Macroeconomics
ECO304 Introduction to Econometrics
Finance and Risk Management FRM201 Principles of Risk Management
FRM202 Life and Other Contingencies
FRM204 Enterprise Risk Management
FRM206 Institutional Investments
FRM302 Computational Methods in Risk
FRM304 Risk Financing Techniques
FRM310 Project
Management MAN101 Principles of Management
Marketing MKT301 Principles of Marketing
MKT404 Methods in Business Research
Actuarial Science ARM201 Introduction to Actuarial Science
ARM501 Stochastic Process/Modeling
ARM601 Models of Financial Economics-I
ARM602 Models of Financial Economics - II
Finance FIN201 Introduction to Business Finance
FIN406 Financial Econometrics
FIN503 Corporate Finance
FIN507 Portfolio Management
FIN509 Financial Derivatives
Language LAN 10* Foreign Language I
LAN 20** Foreign Language II
*1 = Introduction to Arabic
*2 = Introduction to French
*4 = Introduction to German
*6 = Introduction to Italian
*8 = Introduction to Chinese
**1 = Intermediate Arabic
**2 = Intermediate French
**4 = Intermediate German
**6 = Intermediate Italian
**8 = Intermediate Chinese
LAW LAW401 Business Law
Mathematics MTH104 Calculus I
MTH105 Calculus II
MTH204 Linear Algebra
MTH209 Financial Mathematics I
MTH210 Financial Mathematics II
MTH211 Actuarial Mathematics
MTH405 Numerical Analysis
Statistics STA203 Probability Theory and Statistics
STA205 Probability Theory and Statistics II
STA210 Sampling Theory
STA301 Model and Inferences
STA302 Methods of Data Analysis
STA303 Time Series Analysis and Forecasting
STA305 Applied Regression Analysis
STA307 Decision Theory
STA309 Loss Models I
STA310 Loss Models II
Political Sciences PSC301 Pakistan Studies
Religious Studies REL101 Islamic Studies

*Indicates MBA level courses

Elective Courses

Area  Course Code/Title
Finance and Risk Management FRM503 Corporate Risk Management
FRM504 Theory of Risk and Insurance
FRM505 Corporate Treasury and Risk Management
FRM506 Financial Regulation for Risk Management
FRM508 Financial Market Issues and Crisis
FRM510 Energy Risk Management
FRM512 International Risk and Financial Reporting
FRM513 Project Risk Management
FRM514 Takaful and Risk Management in Islamic Products
FRM516 International Financial Reporting and Standards
FRM517 Property Risk Management
FRM518 Management of Insurance Institutions
Computer Sciences CSC103 Structured Programming Language


Course Structure

Semester One Semester Two Semester Three Semester Four
Academic English
Principles of Microeconomics
Foreign Language I
Probability Theory and Statistics
Calculus I
Islamic Studies
Introduction to Financial Accounting
Probability Theory and Statistics II
Calculus II
Principles of Macroeconomics
Financial Mathematics I
Introduction to Actuarial Sciences
Principles of Marketing
Linear Algebra
Model and Inferences
Introduction to Business Finance
Methods in Business Writing
Financial Mathematics II
Numerical Computing
Business Law
Introduction to Econometrics
Principles of Management
Pakistan Studies
Method of Data Analysis
 Semester Five Semester Six Semester Seven Semester Eight
Financial Derivatives
Actuarial Mathematics
Principles of Risk Management
Stochastic Processes
Financial Econometrics
Corporate Finance
Portfolio Management
Life and Other Contingencies
Enterprise Risk Management
Sampling Theory
Models in Financial Economics I
Methods in Business Research
Institutional Investments
Models in Financial Economics II
Applied Regression Analysis
Computational Methods in Risk Mgmt.
Loss Models I
Elective I
Decision Theory
Loss Models II
Risk Financing Techniques
Time series Analysis &forecasting
Elective II