Actuarial & Financial Mathematics - Common Entry
Want to use your love of and talent for mathematics to set yourself apart on the job market? If you’d like to qualify for in-demand quantitative roles in the insurance and financial industry, the Common Entry into Actuarial and Financial Mathematics programme (CAFM) might be for you. It’s especially ideal if you’d like the flexibility to explore different areas of maths before choosing how you’ll specialise.
| Award Name | Degree - Honours Bachelor (Level 8 NFQ) |
|---|---|
| NFQ Classification | Major |
| Awarding Body | Dublin City University |
| NFQ Level | Level 8 NFQ |
| Award Name | NFQ Classification | Awarding Body | NFQ Level |
|---|---|---|---|
| Degree - Honours Bachelor (Level 8 NFQ) | Major | Dublin City University | Level 8 NFQ |
Duration
2 years, (Years 1 & 2 only).
Specific Subjects or course requirements
General Entry Requirements
Applicants must present a minimum of 6 Leaving Certificate subjects at Grade O6/H7, which must include Mathematics and English or Irish. In addition, applicants must present at least 2 subjects at Grade H5.
Additional Requirements
Minimum of H3 in Mathematics
Leaving Certificate General Entry Requirements
Applicants wishing to undertake a Level 8 degree at DCU must be at least 16 years of age on 15 January of the year of entry.
Leaving Certificate Subject Combinations
Certain subjects will not be scored separately if they occur in combination with subjects that are similar in content. In each case, the highest individual grade will be scored. The following 6 groups of subjects are affected by this:
1 Music and Musicianship, Music A, Music B.
2 Economics, Agricultural Economics.
3 Physics with Chemistry - if combined with Physics and Chemistry; only 2 best scored - if combined with Physics or Chemistry; only best scored.
4 History, Economics and Economic History - if all 3 subjects are taken; only the best 2 will be scored.
5 Latin, Classical Studies.
6 Greek, Classical Studies.
Candidates who meet the points requirements but not the specific course requirements, for example H4 in English for the BA in Journalism, are permitted to repeat that subject only to meet the course requirements.
Bonus Points for Honours Mathematics
25 bonus points will continue to be awarded for higher level Mathematics, at grades H6 and above in the Irish Leaving Certificate or equivalent.
Leaving Certificate Mathematics Requirements
DCU does not award points for the subject of Mathematics at Leaving Certificate Ordinary Alternative or Foundation Level. However, these courses will be accepted for admission purposes for the following courses:
DC001 - Bachelor of Early Childhood Education
DC009 - Bachelor of Arts: Joint Honours
DC014 - BA in Jazz and Contemporary Music Performance
DC131 - BA in Communication Studies
DC132 - BA in Journalism
DC133 - BSc in Multimedia
DC155 - BA in Applied Language and Translation Studies
DC231 - BA in International Relations
DC232 - Bachelor of Civil Law and Society
DC235 - BSc in Education and Training
DC238 - BA in Social Sciences and Cultural Innovation
DC291 – Bachelor of Arts – Joint Honours (Media)
DC292 – Bachelor of Arts – Joint Honours (Law)
DC293 - Bachelor of Arts – Joint Honours (International Languages)
DC294 - BA in Climate and Environmental Sustainability
DC295 - Bachelor of Arts – Joint Honours (Politics)
Leaving Certificate Vocational Progamme LCVP
Distinction 66
Merit 46
Pass 28
Please note that LCVP link modules cannot be used as a subject for general or specific course entry requirements, but can be used for the calculation of points.
QQI FET Applicants General Information
DCU welcomes applicants with appropriate QQI-FET (Level 5/6) qualifications. Applicants who have a full National Framework of Qualifications Level 5 award in appropriate qualifications and modules can be admitted on a competitive basis to certain DCU courses.
QQI-FET (Level 5) entry route is a competitive entry route with a limited number of places. A quota of places are offered based on the CAO ranked order of applicants based on performance. For courses with a QQI-FET (Level 5) entry route, approximately 10% of places are retained for QQI-FET (Level 5) applicants. Application is made through the CAO.
Careers / Further progression
Future Careers
Investment Analysis
Trading
Risk Management
Information Technology
Actuary Consultancy
Statistical Analysis
Research
Data Analytics
Further Study - Teaching
In these areas
Industry
Financial Sector
General and Health Insurance
Pensions
Banking
Further information
Mature applicants are those aged 23 years, or above, on 1 January in the year of entry. All candidates (presenting with EU/Non EU qualifications) applying on the grounds of mature years should apply ONLY through the CAO by 1 February.
For many DCU courses, mature application assessment is based on the CAO application and in some instances, an assessment and/or interview. ‘Other’ experience, apart from performance in examinations, may be taken into consideration - this may be work experience, further studies, or other such experience deemed to be relevant to the application. Interviews will take place in April either in person or remotely.
For more information, please contact the Mature Student Officer, orla.stafford@dcu.ie or dcu.ie/mature-students
For general and admission enquiries, please visit dcu.ie/registry/ug-admissions
25
Entry 2024
Early online application (discounted): Fee €30 Closing Date: 20 January 2024 at 5pm
Normal online application: Fee €45 Closing Date: 1 February 2024 at 5pm
Late online application - restrictions apply (see page 3 2024 CAO Handbook): Fee: €60 Closing Date: 1 May 2024 at 5pm
Change of Mind - restrictions apply (see page 3 2024 CAO Handbook): Fee: Nil Closing Date: 1 July 2024 at 5pm
Exceptional online late application (see page 34 of the 2024 CAO Handbook): Fee €60 Closing Date: 22 July 2024 at 5pm
Be sure to complete any action well in advance of closing dates. You should avoid making an application close to a closing date. No extensions to closing dates will be allowed and all application fees are non-refundable.
LATE APPLICATIONS
Late Applications are those which are received after 5pm on 1 February 2024. The closing date for late applications is 5pm on 1 May 2024, subject to the restrictions listed on page 3 of the 2024 CAO Handbook. The online facility for late applications opens on the 5 March 2024 at 12:00 noon - a fee of €60 applies.
Exceptional Late Applications (Exception to the timetable)
The exceptional closing date of 22 July at 5pm applies only to applicants who are registered as an undergraduate student on 1 May 2024 in any year in any one of the participating HEIs (subject to the exclusions listed below). In order to avail of the Exceptional Late Application facility you must have entered the HEI through the CAO system. This is an exceptional late closing date and all steps must be completed by 5pm on 22 July. No changes may be made after this date.
If you did not enter your current course through the CAO system, you must first contact the Admissions Office of the HEI to which you wish to apply and they will inform you if you may submit an application direct to the institution.
Exclusions:
You may submit a late application only for entry to courses other than your existing course. If you wish to repeat the year in the same course you must arrange this within your HEI.
Mary Immaculate College Limerick, Marino Institute of Education, Trinity College Dublin, University of Limerick and Maynooth University have special procedures in place in the case of current or previous students who wish to apply for entry to another course in the same HEI. Such applicants must contact their Admissions Office to determine the application procedure. However, if you are a student in another HEI and you wish to apply to any of these five HEIs, you should apply through CAO.
Refer to page 34 of the 2024 CAO Handbook on how to make an Exceptional Late Application.
Restrictions
As a CAO applicant you may experience one or more of the following restrictions based on your course choices, your category of application, or restrictions imposed by the HEIs that you wish to apply to. Please read the section on 'Restrictions' on page 3 of the 2024 CAO Handbook carefully. This section includes information on:
General Restrictions
1. Making a late application
2. Making changes to your course choices
Restricted Courses
3. Applying for a restricted course
Mature Applicants
4. Mature applicants
Supplementary Admissions Routes
5. Applying for DARE and/or HEAR
Why DCU?
- Choose between two qualifications
- At the end of Year 2, you decide between Actuarial Mathematics and Financial Mathematics
- BSc in Actuarial Mathematics may offer exemptions from the Core Principles examinations of the Institute and Faculty of Actuaries (IFoA) UK - CS1, CS2, CM1, CM2, CB1 and CB2
- BSc in Financial Mathematics opens up a wide range of financial careers and may offer exemptions from the Core Principles examinations of the Institute and Faculty of Actuaries (IFoA) UK - CS1, CM2, CB2
- Employers value the high-level mathematical training we offer
About You
You have an interest in and aptitude for high-level mathematics and enjoy the challenge of problem solving. If you want flexibility in deciding on your eventual career path, choose Common Entry. It gives you the choice of two BSc degree courses: Actuarial Mathematics and Financial Mathematics.
Understanding: Actuarial and Financial Mathematics
DC127 is a Common Entry route to 2 BSc courses in the areas of actuarial and financial mathematics. After 2 years of study via (DC127) Common Entry route you are better placed to know which of the 2 options you enjoy most.
They are:
- BSc in Actuarial Mathematics
- BSc in Financial Mathematics
Entry to Actuarial Mathematics is on a competitive basis, and is subject to performance in Years 1 and 2 and to availability of places. The BSc in Actuarial Mathematics also has a direct entry route. If you wish to directly enter the Actuarial Mathematics course, you should apply to the BSc in Actuarial Mathematics (www.dcu.ie/DC126).
Access to Financial Mathematics is exclusively via the Common Entry (DC127) only.
A report on the future of the international financial services sector in Ireland by Deloitte concludes that, “It is imperative that Ireland builds its pool of mathematically literate skill sets as they will be a key enabler to a successful, high-value financial centre.” These BSc courses address this imperative.
Course Structure
Both of the courses emerging from Common Entry last for 4 years in total. At the end of Year 2, you choose which course to follow. The structure allows you to make an informed decision about which stream to specialise in after studying fundamental courses such as analysis, algebra and probability, together with computing and statistics. In light of this, we offer the following advice:
− If you are certain that you want to pursue an actuarial career, apply for the DC126 BSc in Actuarial Mathematics
− If you wish to keep your options open with the actuarial/financial range, apply for DC127 Common Entry
− If you wish to maximise your chances of accessing an actuarial or financial course, you should apply for both DC127 Common Entry and DC126 BSc in Actuarial Mathematics in the order that reflects your priorities
You will have the opportunity to undertake a placement in the actuarial or financial industry. INTRA placement offers you paid, relevant work experience. It gives you a wonderful opportunity to experience a real work environment, make more informed decisions about your career choice and make useful contacts with prospective employers.
If you elect the BSc in Financial Mathematics, you will study how random processes can develop over time, and apply these mathematical methods to examine how financial phenomena can evolve. You will also learn how to employ sophisticated statistical techniques to investigate large quantities of financial data and develop cutting-edge and data-driven models of the stock market. You will study high-level modern probability, and apply it to designing and pricing complex financial products such as derivatives and swaps. You will also learn how to make the large-scale computer simulations needed to price exotic financial securities.
What Will I Study?
Year 1
Analysis | Calculus | Probability | Computing for Mathematics | Linear Mathematics | Microeconomics | Sequences and Series | Macroeconomics | Financial Modelling with Excel
Year 2
Statistics | Calculus | Linear Algebra | Numerical Methods | Analysis | Differential Equations | Probability | Accounting
Year 3
(Financial Mathematics) Stochastic Modelling | Financial Mathematics | Partial Differential Equations | Financial and Actuarial Models | INTRA
Year 4
(Financial Mathematics) Financial Economics | Probability and Finance | Stochastic Finance | Simulation for Finance | Fixed Income Securities | Optimisation Year 4 Options Deep Learning | Time Series | Financial Economics
Additional Information
Graduates of Actuarial and Financial Mathematics are well placed to undertake a postgraduate qualification in teaching, and have completed at least 50 of the 60 credits of mathematics required for Teaching Council of Ireland recognition.
Contact Details
Tel: +353 (0) 1 700 5386
E: martin.venker@dcu.ie
E: studenthelp@dcu.ie
Visit Us Online dcu.ie/DC127