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Actuarial Science: Principles & Practice

CPD Accredited | Interactive Learning Materials | Free PDF Certificate | Tutor Support | Lifetime Access

Cambridge Open Academy


£14 inc VAT
Study method
7 hours · Self-paced
Access to content
Lifetime access
No formal qualification
10 CPD hours / points
  • Certificate of Completion (PDF) - Free
  • Certificate of Completion (Hard Copy) - £9.99
Additional info
  • Exam(s) / assessment(s) is included in price
  • Tutor is available to students

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Enter the world of Actuarial Science: Principles & Practice, a thorough course created to shed light on the complex world of actuarial theories and procedures and set off on an intellectual voyage. Discover the intricate web of actuarial calculations, risk evaluation, and financial stability through absorbing lessons, each painstakingly designed to give you a thorough grasp of the topic.

Explore the subtleties of premium computation and multiple decrement theory as you delve into the fascinating worlds of life annuities, insurance, and probabilistic models. Explore this maze of information at your speed while immersing yourself in a motivating learning environment free of distractions and centred only on the theoretical foundations of the actuarial profession.

Emerge from this academic adventure with a newfound mastery of actuarial principles and practices, equipped with the theoretical acumen to excel in a dynamic and ever-evolving field. So Enrol now and set sail on a journey of discovery as you unlock the secrets of Actuarial Science: Principles & Practice and forge a path towards a rewarding and fulfilling career.

Learning outcomes:

  • Comprehend the roles and responsibilities of actuaries within various environments
  • Evaluate cash flows and perform valuations using deterministic and stochastic models
  • Analyse life tables and apply life annuity calculations
  • Understand the impact of taxation and inflation on actuarial practices
  • Utilise probabilistic models for uncertain payment and profit testing
  • Apply individual risk models and premium calculation principles
  • Gain insight into multiple decrement theory and its applications


10 CPD hours / points
Accredited by CPD Quality Standards

Course media


Venture into the captivating world of actuarial science, where you'll uncover the intricate principles and practices that govern the profession. This meticulously structured course will guide you through diverse topics, from life tables and annuities to probabilistic models and risk assessment.

As you progress through the curriculum, you'll delve into complex concepts such as cash flow valuation, premium calculation, and multiple decrement theory, fostering a deep understanding of the theoretical foundations that underpin actuarial work.

Here is the curriculum breakdown of the Actuarial Science: Principles & Practice course below:

  • Module 01: Introduction to Actuary
  • Module 02: Actuaries and Their Environment
  • Module 03: The Valuation of Cash Flows
  • Module 04: The Basic Deterministic Model
  • Module 05: The Life Table
  • Module 06: Life Annuities
  • Module 07: Life Insurance
  • Module 08: The Stochastic Life Contingencies Model
  • Module 09: The Stochastic Approach to Insurance and Annuities
  • Module 10: Taxation and Inflation
  • Module 11: Probabilistic Models, Uncertain Payment and Profit testing
  • Module 12: Individual Risk Models
  • Module 13: Principles of Premium Calculation
  • Module 14: Multiple Decrement Theory

Our Specialised Delivery Method:

Interactive Learning Materials: The course modules were created using an EdTech industry-recognised tool to keep you engaged at all times. With this tool, you get interactive, engaging and top-notch course contents. In our courses, you can take advantage of features like—

  • Drop Down Menu
  • Drag and Drop
  • Flash Card
  • Label Graphic
  • Timeline View

Responsiveness: In light of contemporary mobile and point-of-need learning trends, our courses are designed to be intrinsically dynamic and provide you with the ultimate eLearning solution. These courses will adapt to any gadget without any extra software.

Learner Friendly Navigation: Our courses are also quite simple to navigate for any learner. These courses are designed with simplicity and a modern flow that appeals to a wide range of learning audiences, regardless of their technological background and gadgets.

Elegant Outline: Our courses are visually appealing, where you can —

  • track your progress on the left-side navigation toolbar.
  • engage in drag-and-drop sorting activities and
  • use the multiple response question to test your understanding of course topics.

Who is this course for?

  • Aspiring actuaries seeking a robust theoretical foundation
  • Professionals in finance, insurance, or risk management looking to broaden their knowledge
  • Students studying mathematics or statistics with an interest in actuarial applications
  • Academics or researchers in fields related to actuarial science
  • Individuals interested in understanding the underlying concepts of actuarial practice

Career path

  • Actuarial Analyst: £30,000 - £50,000
  • Actuarial Consultant: £40,000 - £70,000
  • Pensions Actuary: £60,000 - £100,000
  • Life Insurance Actuary: £60,000 - £110,000
  • Health Insurance Actuary: £55,000 - £95,000
  • Chief Actuary: £90,000 - £180,000

Questions and answers

Currently there are no Q&As for this course. Be the first to ask a question.


Certificate of Completion (PDF)

Digital certificate - Included

Once you have successfully completed the course, you will receive a CPD Accredited PDF certificate completely free of cost as a proof of your accomplishment.

Certificate of Completion (Hard Copy)

Hard copy certificate - £9.99

Note: Delivery of hardcopy certificate is free within the United Kingdom. However, to obtain a hardcopy certificate, international students have to pay £19.99 for the shipment to their designated address.


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