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Master
Actuarial Science and Mathematical Finance
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Entry requirements

The Admissions Office will evaluate your application for this programme based on 2 specific entry requirements:

  • 1. Your academic Bachelor’s degree

    You need to have an academic Bachelor's or Master’s degree in a field that ensures a high level of mathematical proficiency (e.g. Mathematics, Physics or Econometrics), particularly in the fields of calculus, linear algebra, statistics and probability.

    Additionally, you need to be familiar with the following topics:

    • Linear regression models
    • Mathematical and empirical finance
    • Actuarial science, in particular risk theory and elementary life insurance

    Please note that a Bachelor's degree from a University of applied sciences will not be taken into consideration. 

    Educational systems differ around the world. International degrees are evaluated based on the guidelines provided by the NUFFIC.  Are you unsure whether your academic background is considered equivalent to a Dutch Bachelor's degree? Find a list of equivalent degrees here.

    If your previous education does not fulfill this programme’s requirements:

    • Students with previous EU academic education and an EU/EEA nationality might be eligible to apply for a pre-master’s programme.
    • Students with previous non-EU education and a non-EU nationality may wish to consider applying for a Master’s-qualifying programme at the Cambridge Education Group.
  • 2. Your English language proficiency

    Our Master’s programmes are in English. Good English skills are essential for successful class participation and understanding. To ensure this, we'll assess your English skills through specific proficiency tests listed below.

    Tests and required scores 

    • TOEFL iBT Test: minimum total score of 92 with a minimum of 22 per subscore. You can use the institution code 9011 to have your score report sent to us. 
    • IELTS Academic: overall band score of 6.5 with a minimum of 6.0 per subscore. Please note that the IELTS Indicator test is not allowed. 
    • Cambridge C1 Advanced or C2 Proficiency: overall score of 180 and a minimum of 180 per skill. 

    Validity of scores 

    • Test scores may not be older than two years, counting back from the start of the programme. For example, if you are applying for the September 2024 intake we do not accept English proficiency tests taken before September 2022.
    • Scores older than 2 years are only valid in combination with certain study programmes (check the exemptions). 
    • Sufficient test scores received after the application deadline are accepted, as long as your English proficiency test was taken before the application deadline. 

    Exemptions  

    Did you obtain your previous education in the Netherlands, Australia, Canada (except Quebec), Ireland, Malta, New Zealand, South Africa, United Kingdom, United States of America? Or are your English proficiency test results older than 2 years and did you obtain an academic degree or exchange?  

Selection 

Meeting the entry requirements alone is not a guarantee for admission. Besides the entry requirements you need to meet the selection criteria. This means that your application will be compared with other applicants. The selection is based on your GPA, GRE (GMAT) score, and motivation letter.  

  • 1. Your Grade Point Average (GPA)

    We are looking for students who have shown academic potential to keep up with the high level and workload of the programme.

    Therefore, one of the criteria on which your application will be assessed is the Grade Point Average (GPA). We do not require a specific minimum GPA for this programme, but we will compare and assess the performance on all selection criteria to make an informed decision regarding placement into the programme.

  • 2. Your GRE score

    Good analytical writing and quantitative reasoning skills are crucial for starting in this Master’s programme. To ensure this, you need to provide a sufficient Graduate Record Examinations (GRE) General Test result. And in some cases, a Graduate Management Admission Test (GMAT) score is accepted. 

    GRE test required scores 

    GRE: Minimum score: 155 and preferably 158 in the Quantitative Reasoning section.

    • Please note that completion of all sections of the exam is required. 
    • You can use the institution code 7878 U Amsterdam School of Economics to have your score report sent to us. 
    • The GRE at home test is allowed for the September 2024 intake. 

    GMAT test required scores 

    Instead of a GRE, a GMAT test score may be accepted if you have already obtained a GMAT score, or it is difficult to take the GRE test on short notice in your country. 

    GMAT Focus Edition: Minimum score: 585 with 79 points in the Quantitative Reasoning section and preferably 595 with 82 points in the Quantitative Reasoning section 

    GMAT test (old edition): Minimum score: 620 with 45 points in the Quantitative Reasoning section and preferably 640 with 48 points in the Quantitative Reasoning section 

    • Please note that completion of all sections of the exam is required. 
    • You can use the institution code 0500 to have your score report sent to us. 
    • The GMAT (Focus) Online Exam is allowed for the September 2024 intake. 

    Deadline of handing in test scores 

    Your test scores should be submitted before your application deadline. Please keep in mind that receiving these results can take up to two weeks. 

    Exemptions 

    Based on mutual agreements with certain universities, you might be exempted from taking a GMAT or GRE test. Check the list of universities to see whether this applies to you.

  • 3. Your motivation letter

    Your motivation letter (max. one A4) can contribute to your admission if your academic results are in the lower regions of the requested entry requirements and selection criteria. It allows you to explain why you would be a good fit for the Master’s programme.