Master's Degree in Actuarial and Financial Sciences

General

Read more about this program on the school's website

Program Description

  • Type of education: Face-to-face.
  • Number of new entry places offered: 40
  • Total credits: 120
  • Languages taught: Spanish.
  • Guide price: € 45.02 per credit.
  • Master's Scholarship: see relevant information here .

About

Basically, an actuary is a higher graduate specialized in the assessment and management of the risks borne by the different economic agents. The actuary's training allows him, among other things, to establish the solvency requirements that must be met by the Underwriters, in particular, and the Financial Entities, in general.

The Master in Actuarial and Financial Sciences of the Universidad Complutense de Madrid provides the knowledge, mainly in economics, mathematics and statistics, on which the profession of actuary is based and which together constitute the core of Actuarial Science. The contents of the different subjects studied in the master's degree are based on the guidelines established in the so-called Core Syllabus of the Actuarial Consultative Group, which aims to harmonize actuarial studies throughout the European Union. The graduates of the master's degree can be registered at the Institute of Spanish Actuaries and carry out their activity both at national and European level.

The Master in Actuarial and Financial Sciences of the Universidad Complutense de Madrid began its career in the 2010-11 academic year, replacing the former Bachelor of Actuarial and Financial Sciences.

Academic year 2020-21

Course 1

Code

Subject

Character

Credits

Offered

608976

Statistical expansion

Compulsory

6.0

Yes

608975

Mathematics expansion

Compulsory

6.0

Yes

608990

Extension of Mathematics of Life Insurance. Pension plans

Compulsory

7.0

Yes

608980

Accounting and Financial Statements

Compulsory

6.0

Yes

608979

Financial economics

Compulsory

6.0

Yes

608977

Computing and Numerical Calculation

Compulsory

6.0

Yes

608989

Mathematics of Life Insurance

Compulsory

4.0

Yes

608985

Variable Income Markets

Compulsory

7.0

Yes

608978

Microeconomics and Macroeconomics

Compulsory

6.0

Yes

608992

Probabilistic Models in Finance and Insurance

Compulsory

7.0

Yes

608987

Social Security I

Compulsory

4.0

Yes

608993

Markov Processes and Bayesian Inference

Compulsory

4.0

Yes

608981

Legal Regime of Private Insurance

Compulsory

6.0

Yes

608984

Fixed Income Financial Assets Valuation and Market Risk Analysis

Compulsory

4.0

Yes

Course 2

Code

Subject

Character

Credits

Offered

608996

Actuarial Mathematics Extension: Solvency II

Optional

4.0

Yes

608994

Multivariate Data Analysis

Compulsory

4.0

Yes

608982

Accounting of Insurance Entities

Compulsory

4.0

Yes

608999

Risk Management

Optional

4.0

Yes

609000

Financing Mathematics

Optional

4.0

Yes

608995

Advanced Mathematics of Financial Derivatives

Optional

4.0

Yes

608986

Mathematics of Risk Assessment and Coverage in Financial Derivatives

Compulsory

6.0

Yes

608991

Mathematics of Non-Life Insurance: Models, Risk Measurement and Solvency

Compulsory

6.0

Yes

608997

Statistical and Machine Learning Methods for Insurance Pricing

Optional

4.0

Yes

609003

Business practice

External Practices

13.0

Yes

608988

Social Security II

Compulsory

4.0

Yes

608983

Products and Taxation

Compulsory

4.0

Yes

609002

Final Master's Project

Final Master's Project

6.0

Yes

goals

An actuary is a higher graduate specialized in the assessment and management of risks borne by different economic agents. The actuary's training allows him, among other things, to establish the solvency requirements that insurance companies, in particular, and financial institutions, in general, must meet.

The Master's Degree in Actuarial and Financial Sciences provides the knowledge, mainly in Economics, Mathematics and Statistics, on which the profession of actuary is based and which together constitute the core of Actuarial Science.

Recipients

As a general rule, anyone who holds an official title of the European Higher Education Area (EHEA) or equivalent, who entitles them to access the Master's degree, may apply to enter the University Master's Degree, although Graduates or graduates in Economics, Business Administration and Management, Finance and Insurance, Mathematics, Statistics and Engineering.

Why study this master?

Actuaries have exclusive competence in certain professional activities and their work activity includes: private insurance companies, Social Security, consulting and auditing in matters of insurance and finance, banking, reinsurance entities, risk management applying financial-stochastic methodology in companies and institutions from non-financial economic sectors, etc. The actuary profession is a regulated profession (BOE November 20, 2008).

Admission requirements for masters

Non-enabling university masters

  • Be in possession of any of the following titles:
    • Spanish official university degree.
    • Title issued by an institution of the European Higher Education Area (EHEA) and empowering in the country of issue for access to Master's education.
    • Title of educational systems outside the EHEA that empowers in the country of issuance for access to Master's education, homologated or declared equivalent to the degree and academic level of Degree or Degree by the Ministry of Education and Vocational Training . In case of lacking the mentioned homologation or equivalency, it will be necessary to have authorization or access permission granted by this University.
  • Or be carrying out during the course in which you pre-enroll studies leading to the obtaining of any of the previous degrees and be in a position to prove the obtaining of the same before September 30, 2020 .
  • In addition, students from foreign educational systems, whose mother tongue is different from Spanish, must prove level B2 of the Spanish language (or higher) .
  • Specific requirements that any of the requested masters may have. You can consult it by accessing the website of the Master itself.
Last updated Apr 2020

About the School

La Universidad Complutense de Madrid (UCM) es una institución de larga trayectoria y amplio reconocimiento social que aspira a situarse entre las primeras universidades de Europa y a consolidarse como ... Read More

La Universidad Complutense de Madrid (UCM) es una institución de larga trayectoria y amplio reconocimiento social que aspira a situarse entre las primeras universidades de Europa y a consolidarse como centro de referencia para el continente latinoamericano. Read less