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What will I learn?

Program Features

The BBA Program in Insurance, Financial and Actuarial Analysis (IFAA), offered by the Department of Finance of the CUHK Business School, was started in September 2002. The program provides an in-depth education in insurance, finance, and actuarial science to students who wish to be actuaries, financial analysts, risk managers in insurance companies, banks, and other financial institutions. Since its inception, the program has attracted among the most outstanding and academically accomplished students in Hong Kong.

Elementary courses in the IFAA program focus on fundamental business, economics, mathematics and statistics, and provide students with the necessary grounding for advanced courses that follow. Subsequent insurance, and finance courses further broaden students’ knowledge in related areas by introducing insurance products, financial markets and derivative securities as well as basic principles in financial risk management. Specialized actuarial science courses cover the mathematics in pricing, valuation and hedging of a variety of products to prepare students for careers as actuaries in both the life insurance and the non-life insurance sectors. They also help them master material included in professional actuarial exams administered by international actuarial associations such as the Society of Actuaries in the US and the Institute and Faculty of Actuaries in the UK.

In sum, students who complete the IFAA program will be in a strong position to begin exciting and rewarding careers in the insurance industry and related fields.

Learning Goals

By completion of the Program, our graduates will have:

• Effective business communication skills;
• Effective analytical and problem solving skills which support them to make business decisions;
• The ability to integrate business knowledge in a business environment;
• The ability to propose strategies in a global environment;
• The ability to be aware of the ethical issues in a business context;
• Specific knowledge in actuarial science and insurance, including life and non-life insurance product design, pricing, and risk management.

Accreditation

The Insurance, Financial and Actuarial Analysis (IFAA) program under the CUHK Business School is recognized by the Society of Actuaries in the US as the Center of Actuarial Excellence. This is the highest award bestowed upon an actuarial program, and so far only 31 world-renowned universities worldwide have received such recognition. Our program has excelled in a wide range of areas, including curriculum design, teachers’ professional qualification, connection with the insurance industry and graduates’ prospects. CUHK is among the first batch of Asian universities to receive this honor.

Our program has also been granted full accreditation by the Institute and Faculty of Actuaries in the United Kingdom. The Institute of Actuaries in the UK was established in 1848, and is one of the oldest professional bodies in the world. Qualified students from our program can get exemptions of the first 8 core technical subjects offered by the Institute and Faculty of Actuaries.

Which department am I in?

CUHK Business School

Study options

Full Time (4 years)

Tuition fees
HK$145,000.00 (14,72,978) per year
Start date

Expected September 2022

Venue

The Chinese University of Hong Kong

Shatin,

Sha Tin, Hong Kong, New Territories

Entry requirements

For students from United States

Applicants must have obtained SAT Reasoning Test; and preferably with 2 SAT Subject Tests/ 2 Advanced Placement (AP) Tests. Mature applicants should be aged 23 or above on 1 September in the year in which admission is sought, provided they are able to show either by publication or by other acceptable evidence that they have achieved sufficient competence in their chosen field of study to justify admission; or have shown exceptional ability in appropriate academic or professional fields. English Language Requirements: IELTS: 6.0; TOEFL (iBT): 80; SAT Reasoning Test (Old): Essay - 8; SAT (New) Evidence-Based Reading and Writing: 590; ACT combined English/ Writing or English Language Arts (ELA): 23; GCSE/ IGCSE/ GCE-OL: C; GCE-AL/AS: E; IB: 4; HKDSE: Level 3; HKALE/ HKCEE: E/Level 2; Australian State or Territory High School Certificate Grade 12 English: 80%; Canadian Grade 12 English: 70%; Indian Central or State Board Exam Grade 12 English: 80%; Malaysian UEC-Senior English Language: B4; Singapore GCE A-Level H1 General Paper: C.GCSE/IGCSE/GCE-OL.

For international students

You are eligible to apply for admission if, by 1 September of the year in which admission is sought, you possess any of the following qualifications:

1. GCE-AL/International-AL/IB/Other high school qualifications

  • GCE-AL/International-AL: 3AL/ 2AL+2AS in one sitting (All grades must be obtained from examinations taken within a twelve-month period.)
  • International Baccalaureate Diploma
  • A recognised non-local qualification which qualifies them for admission to a university in the country/region where such qualification is originated (e.g. high school diploma plus SAT/ ACT and SAT Subject Tests/ AP Tests in USA, UEC/ STPM in Malaysia, ATAR in Australia, OSSD/ BC diploma in Canada, GSAT/AST in Taiwan, AISSCE (CBSE)/ ISC in India, SMA in Indonesia, etc.)

2. Post-secondary qualifications

  • Completed at least one year of undergraduate study at a recognised university
  • Completed at least one year of study leading to the qualification of associate degree/higher diploma or its equivalent

3. Mature Applicants

  • Mature persons aged 23 or above on 1 September in the year in which admission is sought, provided they are able to show either by publication or by other acceptable evidence that they have achieved sufficient competence in their chosen field of study to justify admission; or have shown exceptional ability in appropriate academic or professional fields.

English Language Requirements:

  • IELTS: 6.0
  • TOEFL (iBT): 80
  • Other English language requirements equivalent to HKDSE: Level 3 or HKALE/ HKCEE: E/Level 2.

*There may be different IELTS requirements depending on your chosen course.

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