2011-2012 | ||||
| Faculty information | ||||
| Master of Science in Financial and Actuarial Engineering | ||||
Master of Science in Financial and Actuarial Engineering (full-time/part-time)
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Language : E | ||||
Prerequisites | |||||
Students dispose of a sound mathematical background. In particular, they master the topics covered by the following international handbooks and are able to use the corresponding concepts in practice: - Ross, S. (2009) A first course in probability. (8th edition). Prentice Hall. (Or a similar textbook appropriate for an undergraduate course in probability). - Ross, S.M. (2004). Introductory statistics. Elsevier Academic Press. (Or a similar textbook appropriate for an undergraduate course in statistics). - Bowers, N.L; Gerber, H.U.; Hickman, J.C.; Jones, D.A.; Nesbitt, C.J. (1986). Actuarial Mathematics, The Society of Actuaries, Itacsa, Illiniois. Chapters 3,4,5,6 and 7.
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Admission requirements | |||||
PRIOR EDUCATION REQUIREMENTS * Applicants holding the degree of Master of Science in de verzekeringen from the K.U.Leuven are immediately admitted. * Other applicants with one of the following degrees have to submit a complete application file, which is reviewed by the Admissions Board on the basis of information provided by the applicant, including certified copies of diploma and transcripts etc (see below): o Master of Science in de statistiek o Master of Science in de wiskunde o Master of Science in de fysica o Master of Science in de economische wetenschappen o Master of Science in de toegepaste economische wetenschappen o Master of Science in de toegepaste economische wetenschappen: handelsingenieur o Master of Science in de handelswetenschappen o Master of Science handelsingenieur o Master of Science in de ingenieurswetenschappen (except architecture) o Master of (Science in) Insurance o Master of Science in Statistics o Master of Science in Mathematics o Master of Science in Physics o Master of Science in Economics o Master of Science in Business Economics o Master of (Science in) Applied Economics o Master of (Science in) Business Engineering o Master of (Science in) Business Engineering: Information Systems Engineering o Master of (Science in) Engineering o Master of (Science in) Civil Engineering o Another university degree in Economics, Business Studies or Mathematics requiring at least four years of study * Candidates are supposed to be thoroughly acquainted with the material considered in : o Bowers, N.L.; Gerber, H.U.; Hickman, J.C.; Jones, D.A.; Nesbitt, C.J., (1986). Actuarial Mathematics. The Society of Actuaries, Itacsa, Illinois. Chapters 3,4,5,6,7. o Ross, S.M. (2004). Introductory statistics. Elsevier Academic Press. (Or a similar textbook appropriate for an undergraduate course in statistics). o Ross, S.M. (2009). A first course in probability (8th edition). Prentice Hall. (Or a similar textbook appropriate for an undergraduate course in probability). Further, also operational knowledge of differential and integral calculus for one and several variables, as well as linear algebra and matrix calculations is required. PROOF OF PROFICIENCY IN ENGLISH Applicants who are non-native speakers of English must provide evidence of English language proficiency. * Applicants with a K.U.Leuven degree: Applicants that already successfully completed an English-taught programme at K.U.Leuven, do not have to take an English proficiency test. * Applicants with a university degree earned in Australia, Canada, Ireland, New Zealand, United Kingdom or the USA: the certified diploma and transcripts suffice, provided they confirm that the entire university study was completed in English. Absolutely no other diplomas will be accepted as evidence even if the applicant has followed an exclusively English-taught programme. * Other applicants should submit a satisfactory score on an internationally recognized test of English language proficiency: TOEFL (minimum score 575 paper-based, 233 computer-based, 90 internet-based) or IELTS (minimum score 7). No other proficiency tests will be accepted, and absolutely no application will be considered without such a test certificate. ADDITIONAL CREDENTIALS Next to certified copies of diplomas and transcripts, all applicants must provide * a GMAT- or GRE-score. A GRE- or a GMAT-test result above the 90th percentile on the quantitative part (or on average) normally entails immediate admission, provided all other requirements are met as well, but this is not an absolute minimum. * two recommendation forms, downloadable here, filled out and signed, and mailed in a closed envelope signed over the lid by the referee to the Faculty of Business and Economics. Forms not provided in a closed envelope signed across the lid by the referee will be regarded as void. The recommendation forms can also be mailed directly by the referee to fbe@econ.kuleuven.be. * a letter of motivation written and signed by the applicant, explaining the choice for Leuven and for this particular programme The Admissions Board evaluates all applications and has the final say on the admissibility of the student, taking into account the relevant information.
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Master of Science in Financial and Actuarial Engineering
The courses D0V56A 'Stochastic Finance in Insurance', D0V58A 'Health Insurance', D0V55A 'Reinsurance' and D0V57A 'Asset and Liability Management' are taught at the Université Catholique de Louvain.
Core Course
| G0L56A |
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Advanced Topics in Risk Management | 6 pt. | 26,0 h. | N. subst.:T. Hoedemakers | ||||||||||||||
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| G0Q14A |
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Advanced Non-life Insurance Mathematics | 6 pt. | 26,0 h. | coordination: K. Antonio K. Antonio |
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| G0Q20A |
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Fundamentals of Financial Mathematics | 6 pt. | 39,0 h. | W. Schoutens subst.:P. Leoni N. | |||||||||||||||||||||||
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| D0V56A |
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Stochastic Finance in Insurance | 5 pt. | 30,0 h. | N. | ||||||||||||||
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| G0Q18A |
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Advanced Life Insurance Mathematics | 6 pt. | 39,0 h. | K. Antonio | |||||||||||||||||||||||
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| G0Q24A |
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Statistics for Finance and Insurance | 6 pt. | 39,0 h. | T. Verdonck | |||||||||||||||||||||||
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Master's Thesis
| G0Q26C |
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Master's Thesis Financial and Actuarial Engineering | 15 pt. | coordination: K. Antonio K. Antonio J. Beirlant J. Dhaene W. Schoutens T. Verdonck N. |
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Electives
| D0V73A |
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Financement des pensions | 5 pt. | 45,0 h. | N. | ||||||||||||||
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| G0Q16A |
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Actuarial Models | 6 pt. | 39,0 h. | J. Dhaene | |||||
| D0V55A |
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Reinsurance | 5 pt. | 30,0 h. | N. | ||||||||||||||
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| D0V57A |
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Asset and Liability Management | 5 pt. | 30,0 h. | N. | ||||||||||||||
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| D0V58A |
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Health Insurance | 5 pt. | 30,0 h. | N. | ||||||||||||||
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| G0Q22A |
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Financial Engineering | 6 pt. | 39,0 h. | coordination: W. Schoutens W. Schoutens subst.:P. Leoni W. Schoutens N. |
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