First Major Advantages
1. Sino-US Cooperation
The major of Mathematics and Applied Mathematics (Sino-US Cooperative Actuarial Science and Risk Management) jointly organized by NBU and Middle Tennessee State University USA, which is a strong cooperation between Chinese and American public universities. It was officially approved by the MOE in September 2013 to start undergraduate enrollment education program (referred to as actuarial program). The actuarial program is jointly developed by the School of Mathematics and Statistics of NBU and the School of Basic and Applied Sciences of
Middle Tennessee State University in the United States to formulate training programs and teaching plans, jointly organize teaching and management, and supervise the quality of schooling.
Cultivation Targets: The major aims to cultivate senior application-oriented talents with international version, good mathematical ability, outstanding statistical application ability, solid actuarial basic theories and professional knowledge, and be able to serve the insurance, fund, securities investment, banking and government related departments, and serve modern insurance and finance investment, social security and other industries with intellectual support such as product design, risk management, and decision-making consulting.
The actuarial program relies on the mathematics discipline of Ningbo University. In December 2017, the Ministry of Education announced the results of the fourth round of subject evaluation, and Ningbo University's mathematics subject ranked in the top 40% nationwide. In January 2018, the mathematics subject was approved for a first-level doctoral program. Mathematics and applied mathematics major is a national first-class undergraduate major. It was awarded as the Provincial 13th Five-Year Key Discipline, and the first group of International Discipline of NBU. Among the faculty are a group of key teachers including 1 winner of the National Outstanding Youth Fund, 2 winners of New Century Outstanding Talents of MOE, 1 winner of Provincial Outstanding Youth Fund, 1 Famous National Teaching Teacher, and 1 winner of Famous Provincial Teaching Teacher, 3 Outstanding Provincial New Teachers, 1 professor of Sir Yue-Kong Pao lecture and 10 foreign teachers.
2. Advanced Teaching Introduction and Broaden International Horizons
The actuarial program aims to introduce high-quality educational resources for actuarial science majors in the United States, and cultivate students' international vision based on China and looking at the world. The school invites well-known professors and experts from famous overseas universities to give lectures and teaches at Ningbo University, and regularly appoint actuarial project teachers to visit and exchange related majors in well-known universities at home and abroad. The school fully promotes the use of English or bilingual teaching in professional courses, in line with international education methods, so that every student can enjoy high-quality education. In August 2017, courses such as mathematical statistics passed the VEE (Validation by Educational Experience) certification of the Society of Actuaries (SOA). Based on this, in November 2017, Ningbo University successfully joined SOA's UCAP-AC (Universities & Colleges with Actuarial Programs Advanced Curriculum) program, becoming the sixth university in China to pass UCAP certification.
3. The first domestic targeted cultivation school
Actuarial science and risk management are applied cross-disciplines based on statistics and finance. They are trained to provide product design, risk management, consulting and
decision-making for social insurance, financial investment, social security, population analysis, economic forecasting, and business operations. Actuary is a high-paying professional talent in short supply at home and abroad, and is touted as one of the most promising professions. The professional program is the first Chinese-foreign cooperative actuarial science undergraduate education project in China.
Second Major Highlights
1. Both Chinese and US degrees, great advantages for further postgraduate study
Those who have completed the actuarial project courses specified in the project ’ s talent
training program and passed the assessment will be awarded the undergraduate diploma of ordinary colleges and universities issued by NBU in accordance with the Working Rules for Granting Bachelor Degrees to General Full-time Undergraduates of NBU and the Renewal Agreement for the Undergraduate Education Program of Mathematics and Applied Mathematics in Cooperation between NBU of China and Middle Tennessee State University of the United States. Those who meet the grade qualifications of NBU will be awarded a bachelor degree of science; those who have completed the required credits of Middle Tennessee State University in the United States and meet the degree requirements, you can obtain a bachelor of science degree from Middle Tennessee State University in the US, and you can directly apply to continue studying for a master's and doctoral degree in the US. Compared with the domestic application after graduation, it has a huge advantage.
2. High scholarships up to US$16,000
While studying in China, students enjoy the same national, provincial and university scholarships as other students did in NBU. When students are studying abroad, they have the opportunity to enjoy a maximum of RMB 12,000 for undergraduates from NBU to study and exchange abroad.
During the period of studying abroad, the applicant can receive a scholarship of up to 16,000 US dollars per year according to the GPA of the applicant's domestic course, the passing of the actuarial examination and the language ability. Among the five batches of 95 students who went to study in the United States, 34 students received the highest scholarship, accounting for 36%, and some students received scholarships ranging from US$8,000/year to US$4,000/year.
3. One-stop service for going abroad without additional cost
For studying abroad, there are professional teachers who provide one-stop services such as early-stage contact, preparation of materials for studying abroad, and record-keeping for the later stage of studying abroad without additional cost. For the preparation of English scores abroad, in addition to the English courses in the training program, it also hires well-known domestic
education and training institutions to provide high-quality group training services for tuition fees lower than the regular price, with a passing rate of over 80%.
Third. Employment After Graduation
1. Financial institutions: A. Banks, securities investment, funds, trusts and other financial institutions; B. Management institutions (including civil servants); C. Local government related financial departments.
2. Insurance: A. Insurance company, high-tech actuarial department; B. Social security agency, product development department; C. Enterprise, risk management department.
3. Statistics department: A. Data mining and data analysis; B. Forecast decision-making and management optimization; C. Enterprise consultant.
4. Go abroad for further studies, engage in high-tech research, and postgraduate entrance examinations (postgraduate studies include insurance actuarial, financial economics and statistics, etc.).
Among the students who graduated from previous years, 3 were admitted to the University of Waterloo, which is ranked first in the world for actuarial science and is known as the "Cradle of Actuaries in North America", and received full scholarships; other students also received admission notices from Columbia University (2017USNEWS World University) Ranked 9th, the same below), Johns Hopkins University (ranked 24), Boston University (ranked 32), Ohio State University (ranked 43), University of Illinois (ranked 47), University of Miami (ranked 158) in the United States and the University of Delaware, University of Toronto in Canada and other world-renowned universities. The rate of further study in foreign universities of the class is 56.7%. In 2020, the Actuarial Program sponsored students to participate in the North American Actuarial Qualification Examination, with a total of 305 people, of which 53 people passed the FM, P, LTAM, IFM, STAM and other exams that year. So far, 2 graduates of this program have
passed the North American Associate Actuary Examination (only 1021 in 2018).
Contacts: Professor Li & Professor Wang
Phone Number: 13056964500 ( Li ) , 13586826149 ( Wang )