WPCS 2.1.2
Tuition Fees:$645 /year
Applications Begin:June 2021
Final Award:Bachelor of Science in Actuarial Science
Start Date:October 2021
Academic Unit:Faculty of Insurance and Social Protection
Campus:Main Campus
Application Deadline: September 2021
Programme Overview

This qualification is intended for a person who prepares and presents actuarial reports, analyze mathematical models in various actuarial applications, apply actuarial skills acquired in carrying out evaluations, risk assessments and forecasts under minimum supervision, implements any prevailing organization policies, apply mathematical and statistical expertise to aid decision making in actuarial environment.

Programme Objectives
At the end of the programme graduates are expected to:
i) Present fundamental actuarial ideas and arguments to non-actuaries;
ii) Prepare and present actuarial reports;
iii) Construct and analyze mathematical models in various actuarial applications;
iv) Apply the knowledge acquired to undertake any actuarial professional examinations; and
v) Apply actuarial skills acquired in carrying out evaluations, risk assessments and forecasts under minimum supervision.


First Semester:
– Introduction to Calculus
– Micro Economics
– Introduction to Actuarial Science
– Introduction to Statistics
– Introduction to Pension Mathematics
– Linear Algebra

Second Semester:
– Functions of Several Variables
– Macro Economics
– Differential Equations
– Principles of Accounting
– Numerical Methods
– Introduction to Computer

First Semester:
– Financial Mathematics
– Probability Theory
– Actuarial Risk Management
– Computer Programming
– Contingency I
– Operations Research
– Field Work Report I
– Time Series and Forecasting (Elective)
– Investment Analysis (Elective)

Second Semester:
– Introduction to Financial Economics
– Research Methodology
– I Introduction to Risk Theory
– Stochastic Processes
– Survival Models
– Demographic Methods
– Field Work Report II

First Semester:
– Risk Theory
–  Finance and Financial Reporting
– Contingency II
– Entrepreneurship
– Field Work Report II
– Strategic Management (Elective)
– Life Insurance (Elective)

Second Semester:
– Actuarial Practices
– Professionalism and Business Ethics
– Econometrics
– Financial Economics
– Statistical Inferences
– Health Care Modelling &Financing (Elective)
– None – Life Insurance Policies (Elective)
– Human Resource Management (Elective)

Admission Requirements

Entry Eligibility and Requirements
Direct Entry:
Two principal passes at A-level one of which must be in Mathematics.

Application Process
Application Fees for Tanzanian Students: $4
Application Fees for International Students: $4

Applicants wishing to have themselves enrolled in the Institute of Finance Management Tanzania, should take note of the following:
1. All applications and recommendations must be submitted via an online application system.
2. Each applicant is responsible for ensuring his/her application is complete and correct.
3. No online application will be successful if a non-refundable fee has not been paid.

4. IFM will not consider any additional materials or changes once an application has been submitted. However an applicant can ask for amendment of online submitted materials after announcement has been made and new round of online application has been allowed.
5. The completed application becomes the confidential property of IFM and is not returnable
6. Applicants are responsible for ensuring that all the information and accompanying material provided in connection with their application is authentic and accurate
7. The Institute may at any time require applicants to provide satisfactory verification of the information and documents submitted as part of the application. If an applicant is unable to do so, the Institute reserves the right to cease consideration of the application, to withdraw any offer of admission already made, and/or to terminate one’s status as a student
8. Applicants assume all costs for authenticating and verifying documents and information associated with their application
9. All applicants previously admitted but did not register in the admitted year, are required to re-submit a new completed online application
10. Once an application is submitted, the Institute reserves the right to request additional information from the applicant, including, but not limited to, an interview

11. All applicants who have been invited for an interview must fulfil the request in order to complete the application process
12. Communication for admission will be done to applicants who meet the admission requirements.
Career Opportunities

Career Opportunities for Bachelor of Science in Actuarial Science include:
– business analysts
– budget analysts
– analysts intelligence agencies
– research analysts
– financial analysts
– insurance underwriters or insurance claims adjusters

Tuition Fees Details
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Tuition Fees for Tanzanian Students: $645
Tuition Fees for International Students: $1,792

Tuition Fee per year for Tanzanian Students = 1,500,000 TZS
Tuition Fee per year for International Students = 4,165,560 TZS

The Institute of Finance Management (IFM) has made arrangement for instalment payment to ease the financial burden on its students. If one is unable to pay the amounts above at once, he or she can do it in two instalments:
**First Instalment = 60 percent
**Second Instalment = 40 percent

Relevant Contact

K Mashaushi
Dean, Faculty of Insurance and Social Protection
Admissions Office
Responsible for Admissions Enquiries