Department of Actuarial Science

The Actuarial Science Programme is designed primarily to support the vision and mission of the University. It is a science that applies mathematical and statistical methods to finance and insurance, particularly to risk assessment to help reach more informed decisions in those areas. Actuaries are professionals who apply mathematical models to improve financial decision-making by evaluating the financial implications of uncertain future events.

Four decades after the establishment of the University of Jos, Actuarial and insurance Science Programme was incubated and hatched by the University’s Senate, which was hitherto headed by Dr. H. Bulus. By 2014, on the directive of NUC, the University Senate decided to split the two programmes in B.Sc. Actuarial Science and B.Sc Insurance, and Dr. Yohanna G. Jugu was appointed the pioneer Programme Coordinator in May 26, 2014 to head the former, with Dr Bulus heading the later. Other pioneer core staff (academic) include, Mr. Kamsen M. Dapim, Mr. Ajita S. Ishaku, Miss Ikeobi N. Rosemary and Mr. Adamu Daniel K. While Dr. Kenneth N. Korve and Prof. M.N. Maiturare were visiting lecturers. Mrs. Lydia Stephen Kyakya was the Confidential Secretary I.

Following the formal approval of the National Universities Commission in 2014, the university admitted 25 UTME candidates as pioneer students for the programme in the 2014/2015 academic session. During the 2015/2016 academic session, students enrollment increased with 53(UTME) and 31(DE) registered students. Currently, 85 UTME and 20 DE candidates were admitted into the Department for the 2016/2017 academic session, which might bring the total number of students for the programme up to 214.

The philosophy of the programme is to teach students how to use scientific tools in managing risks. The programme is primarily designed for students to study and understand the operations of Insurance, Finance, and Investment Companies such as risk and risk management processes, insurance contracts and their kinds.

There are two entry requirement categories: Direct Entry (3-year programme) and UTME (4-year programme)
UTME:
  • Candidates are required to possess at least five WAEC, NECO or NABTEB ‘O’ level credits in English Language and Mathematics and any three subjects from: Principles of Accounts, Commerce, Business Methods, Statistics, Government, or Economics at not more than two sittings to be eligible for registration.

  • Candidates are required to select English Language and Mathematics and any other two subjects from the following: Principles of Accounts, Commerce, Business Methods, Statistics, Government or Economics for the entrance examination.
Direct Entry: Candidates are required to possess:
Five WAEC, NECO or NABTEC ‘O’ Level Credit in English Language and Mathematics and three subjects from any of the following: Principles of Accounts, Commerce, Business Methods, Statistics, Government or Economics at not more than two sittings with any of the following:
  • Principal passes at IJMB Examinations in at least two subjects, one of which must be Accounting, Business Management or Economics.
  • Diploma in Accounting, Finance Studies or Business Administration of the University of Jos or any other recognized University with a pass at not less than Lower Credit;
  • National Diploma (Accounting, Financial Studies, Business Administration, Banking and Finance, Insurance or any other business course) with a pass at not less than Lower Credit from any recognized Polytechnic or Technical Institutions
  • N.C.E (Accounting or Business Studies) with very good passes from recognised College of Education or Technical Institutions
  • Professional Certificates of ICAN, ANAN, CIBN, ACCA, ACIS or any other relevant professional bodies approved by the Senate of the University of Jos
  • Higher National Diploma (HND) in any field of Business with a pass at not less than Lower Credit from any recognized Polytechnic or Technical Institute
COURSE CONTENT

COURSE CODE

COURSE TITLE

SEMESTER

CREDIT UNIT/HOURS

 

ACS  111

Elementary Mathematics

1st

3

 

ACC 111

Introduction to Accounting I

1 st

3

 

ACS 112

Business Mathematics I

1st

3

 

ACS 113

Elements of Economics I

1st

3

 

ACS 121

Business Mathematics II

2nd

3

 

ACS 122

Elements of Economics II

2nd

3

 

ACC 124

Introduction to Computer Science

2nd

3

 

ACC 121

Introduction to Accounting II

2 nd

3

 

GST 101

Use of English

 

4

 

GST 102

Introduction to logic and Philosophy

 

2

 

GST 103

Nigerian People and Culture

 

2

 

GST 104

History and Philosophy of Science

 

3

 

 

TOTAL

 

38

 

 

ELECTIVES

 

 

 

ACC 125

Legal Methods

2nd

3

 

POL  123

Introduction to African Politics

2nd

2

 

 

TOTAL

 

5

COURSE CODE

COURSE TITLE

SEMESTER

CR. UNIT/HRS

 

ACS  211

Introduction to Actuarial Science

1st

3

 

ACC 211

Introduction to Financial Accounting I

1st

3

 

ACC 212

Introduction to Finance

1st

3

 

ACS 212

Advanced Mathematics

1st

3

 

ACS 213

Economic Theory

1st

3

 

ACS 214

Business Statistics 1

1st

3

 

BUS 214

Introduction to Business

1st

3

 

INS 212

Introduction to Insurance

1st

3

 

ACC 222

Introduction to Cost and Mgt. Accounting

2nd

3

 

 

 

 

 

 

ACS 221

Business Statistics 1I

2nd

3

 

ACS 222

Applications of Computer

2nd

3

 

BUS 222

Business Communication

2nd

2

 

GST 222

Conflict Management

2nd

2

GST 223

Entrepreneurship Study I

2nd

2

 

TOTAL

 

39

 

ELECTIVES

 

 

PSY 214

Industrial Psychology

1st

2

BAF 216

Elements of Banking and Finance

1st

2

POL 225

Foundation of Political Economy

2nd

2

 

TOTAL

 

6

COURSE CODE

COURSE TITLE

SEMESTER

CREDIT UNIT/HOURS

 

ACS 311

Probability and Mathematical Statistics

1st

3

 

ACS 312

Operations Research

1st

3

 

ACS 313

Commercial Law

1st

3

 

ACS 314

Elements of Management

1st

3

INS 311

Theory of Interest

1st

3

INS 312

Elements of Risk Management

1st

3

ACS 321

Research Methods

2nd

3

ACS 322

Life Contingencies

2nd

3

ACS 323

Financial Economics

2nd

3

ACS 324

Actuarial Computing

2nd

3

INS 322

Life and Health Insurance

2nd

3

POL 321

Elements of Government

2nd

3

ESP 321

Entrepreneurship Studies II

2nd

2

 

TOTAL

 

38

 

ELECTIVES

 

 

ACC 317

Public Finance

1st

2

BUS 325

Business Ethics

2

2

 

TOTAL

 

4

COURSE CODE

COURSE TITLE

SEMESTER

CREDIT UNIT/HOURS

 

ACS  411

Research Project

1st and 2nd

6

 

ACS  412

Actuarial Statistics & Mortality Analysis I      

1st

3

 

ACS  413

Further Life Contingencies

1st

3

 

ACS 414

Numerical Analysis I

1st

3

 

ACS 415

Business Policy

1st

3

 

INS  411

Risk Theory and Insurance

1st

3

 

INS  412

Pension Funds and Social Insurance

1st

3

ACS  421

Quantitative Analysis for Business Decisions

2nd

3

 

ACS  422

Actuarial Statistics & Mortality Analysis II

2nd

3

 

ACS  423

Theory and Practice of Investment                       

2nd

3

ACS 424

Numerical Analysis II

2nd

3

ACS  425

Valuation of Liabilities in Insurance

2nd

3

ACC 421

Financial Management

2nd

3

 

TOTAL

 

42

 

ELECTIVES

 

 

INS  414

Reinsurance

1st

3

INS  422

Insurance Brokerage

2nd

3

 

TOTAL

 

6