Actuaries are professionals who are qualified in this field through education and experience. They evaluate the likelihood of those events, design creative ways to reduce the likelihood and decrease the impact of adverse events that actually do occur. The insurance industry cannot function without actuaries.
Actuaries measure the risk, estimate the costs and determine the premiums for policyholders. Private corporations also need actuaries that they should rely on risk evaluations to frame their strategic management decisions. Moreover; actuaries could be employed as professionals to design pension and benefit plans, evaluate assets and liabilities, and reduce the risk factors companies exposed to.
Actuarial Science is a newly emerging field of science with full of potential for career growth and plenty of promises for high profile career opportunities. Actuarial Science is already considered as one of the top five potential job fields according to categories work environment, employment outlook, job security, growth opportunity, and salary in the USA. In Turkey, there is a high demand to produce knowledge for actuarial analysis and to have well-educated actuaries to deal with modeling real life data problem of actuarial sciences.
The objectives of this Actuarial Science program from METU Middle East Technical University are:
- To educate our graduates so that they can make significant contributions to the financial security of individuals through the ability to identify, quantify, assess and manage risk uncertainty;
- To provide students with the knowledge and skills necessary for comprehending and applying actuarial techniques;
- To produce theoretically sound and practical research, which contributes to the advancement of actuarial sciences and practice;
- To conduct research in practical applications of actuarial, insurance, risk management and risk analysis.
- Risk Management and Insurance
- Actuarial Risk Theory
- Life Insurance Mathematics
- Research Methods and Ethics
- Pension Fund Mathematics
- Elements of Statistics and Probability
- 24 months
Start dates & application deadlines
- Apply before , International
DisciplinesMathematics Applied Mathematics Actuarial Science View 7 other Masters in Actuarial Science in Turkey
We are not aware of any academic requirements for this programme.
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- a Bachelor's degree must be hold or expected by the end of the term of application
- METU-EPE≥ 64.5 or TOEFL ≥79 (see Equivalence Table for Recognised Exams)
- ALES-quant. ≥70
- or GRE-quant. ≥155 (GRE-quant.≥696)
- At least two (2) reference letters
- Letter of intention (included in the online form)
International278 USD/yearTuition FeeBased on the tuition of 139 USD per semester during 24 months.
National18 USD/yearTuition FeeBased on the tuition of 9 USD per semester during 24 months.
- Resident: 154 TL/semester
- Non-Resident: 2500 TL/Semester
Living costs for Ankara
The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.
Studyportals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.
Apply and win up to €10000 to cover your tuition fees.