Mumbai University approved program:

M.Sc. in Actuarial and Quantitative Finance

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Class room learning
Practical training
Application of knowledge & skills
Projects & internships


M.Sc in Actuarial and Quantitative Finance is a dynamic undergraduate program that facilitates one to learn and know-how the banking, financial services and insurance (BFSI) industry operates at an early stage of his/her career. The programme offers individuals (even from non-finance backgrounds), an inimitable opportunity to gain a comprehensive foundation and ensuing depth in the field of BFSI. This in-depth knowledge matches the requirements of finance industry in terms of domain expertise.


Industry Faculty
Real-Life projects
Mandatory internships
100% placement assistance
Choose core Actuarial field or Finance & investment field
International internship opportunities
International University Tie-ups
Student exchange program
International curriculum
Case studies
Develop job-necessary software skills
Learn on bloomberg terminal or similar software
Professional courses like Actuarial, CFA, FRM


  • Students with keen interests in Mathematics, Statistics, Finance, Investment, Risk, and Data Analysis
  • Appeared for Graduation or any other equivalent examinations (Science/ Commerce/ Arts)
  • Have successfully cleared QAT/ACET/any Actuarial Paper and interview


To master the necessary skills, gain comprehensive foundation and ensuring depth in the field of Banking, Financial Services and Insurance (BFSI) industry.


You will graduate with Mumbai university’s bachelors degree and fully competent and fitted for job roles in following fields:
  • Actuarial
  • Investment Banking
  • Risk Management
  • Data Science
  • `Financial Analysis
  • Economics


  • Quantitative Aptitude Test (QAT) is an online entrance test for Bachelor’s and Master’s program in Actuarial and Quantitative finance.

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  • This semester dwells deep in understanding the statistical methods, financial analysis and aims to introduce the students to the world of cash-flow models and time value of money which forms the basis of financial mathematics. It familiarizes the students with the concepts of Actuarial models and provides a bird’s eye view of the workings of a life insurance company. One will also learn about risk modelling, mortality tables and how one can make the mortality tables fit for use.

  • This semester equips one with understanding of various concepts required for model building. It introduces one to the primary and secondary market. Students will also develop understanding of the workings of competitive markets, behaviour of consumers and macro side of the economy. It provides an overview of the workings of a non-life insurance company.

  • At the beginning of the semester, students are given an option to choose electives of their choice with the aim of specialization. This semester revolves around developing and honing the soft skills of the students to make them befit for the professional world. It acquaints one with Fixed income products and introduces one to the macro side of the economy.

  • This semester extends as per the specialisation chosen by the individual at the start of the 3rd year. Additionally, it is also aimed at providing individuals a hands-on Bloomberg terminal or similar softwares.

About us

IAQS is a premier education institute for aspirants planning to enter Banking, Financial services and Insurance (BFSI) space. Our vision is to nurture our students, expose them to some of the most real-time complex situations and offer them a distinctive platform to learn the smart ways of risk management.

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Contact Us
  • Address : Institute of Actuarial and Quantitative Studies,
    GICED, University of Mumbai,
    Vidyanagri, Santacruz (East), Mumbai-400 098.
  • Mobile : 9372777615 / 9372777617
  • Mail :