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.

Foundation Courses

 Accounting Economics Finance Finance and Risk Management Actuarial Science
ACC101
Introduction to Financial Accounting

ECO101
Principles of Microeconomics
ECO102
Principles of Macroeconomics
ECO304
Introduction to Econometrics

FIN201
Introduction to Business Finance
FIN406
Financial Econometrics
FIN503
Corporate Finance
FIN507
Portfolio Management
FIN509
Financial Derivatives
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
ARM201
Introduction to Actuarial Science
ARM501
Stochastic Process/Modeling
ARM601
Models of Financial Economics-I
ARM602
Models of Financial Economics – II
Language Communication Mathematics Statistic Marketing
LAN 10*
Foreign Language I
LAN 20**
Foreign Language II
*1 = Introduction to Arabic
*2 = Introduction to French
*3 = Introduction to Spanish
*4 = Introduction to German
*5 = Introduction to Japanese
*6 = Introduction to Italian
*7 = Introduction to Russian
*8 = Introduction to Chinese**1 = Intermediate Arabic
**2 = Intermediate French
**3 = Intermediate Spanish
**4 = Intermediate German
**5 = Intermediate Japanese
**6 = Intermediate Italian
**7 = Intermediate Russian
**8 = Intermediate Chinese
COM107
Academic English
COM203
Methods in Business Writing
MTH104
Calculus I
MTH105
Calculus II
MTH204
Linear Algebra
MTH209
Financial Mathematics I
MTH210
Financial Mathematics II
MTH211
Actuarial Mathematics
MTH403
Numerical Computing

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

MKT301
Principles of Marketing
MKT404
Methods in Business Research
LAW Management Religious studies Pakistan Studies Computer Sciences
LAW401
Business Law
MAN101
Principles of Management
REL101
Islamic Studies
PSC301
Pakistan Studies
CSC103
Structured Programming Language

Elective Courses

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

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
Project
Elective II