The following information is intended for students with foreign academic qualifications only. For information about application and admission procedures for students with Dutch degrees, follow the link below.

Tuition fee and scholarships

The tuition fee for the 2011-2012 academic year is:

• EU/EEA students appr. € 1,700 per year
• Non-EU/EEA students: € 12,000 per year 

Huygens scholarship
The Dutch government has allocated a vast amount for excellent students coming to the Netherlands under the HSP Huygens Programme. The Nuffic is administrating the Huygens scholarship. Please find all all necessary information about application and selection on their website.

! The Faculty deadline for receiving Huygens scholarship requests is: 31 December 2010. On the online application form please mention the Huygens scholarship request by thicking the relevant box.

The International Office will make a first selection of most excellent students. For this students we will write a nomination letter. Applicants that are part of this selection will receive the nomination letter by e-mail before 1 February 2011 which is the Nuffic deadline for application.

Amsterdam Merit Scholarship
For information on the Amsterdam Merit Scholarship please refer to the link below.

Colfuturo Scholarship
Students from Columbia can apply for this scholarship through their website. See the link below.

Ford Foundation Scholarship
Scholarships are provided for students from a selection of countries worldwide. For more information see the Nuffic website. 

Netherlands Fellowship Programmes
This programme provides funding for women and members of priority groups or marginalized regions. For more information see the Nuffice website.

Other scholarships
Further information on scholarships can be obtained from Nuffic, please refer to their website. Click on the link 'Grantfinder' to search for Dutch scholarships for foreign students.

Studentgrant
In certain cases it is possible for EU students to receive a monthly studentgrant from the Dutch government (i.e. IB Group). Please check their website for further information.

Specific entry requirements

The Master in Actuarial Science and Mathematical Finance builds on the UvA's Dutch Bachelor in Actuarial Science (Actuariële Wetenschappen). Students holding this degree are automatically admitted to the Master's programme in Actuarial Science and Mathematical Finance. 

Students holding a foreign academic degree should basically have the same knowledge to enter the MSc programme successfully. Typically, a BSc in mathematics or physics gives the required level of calculus and linear algebra. But also a rather thorough knowledge of probability and mathematical statistics is required. To give some examples: students entering the MSc should be familiar with moment generating functions, maximum likelihood estimation, sufficient statistics and multinormal distributions.

Knowledge of the linear regression model is also required, e.g. through an econometrics course or included in the statistics course. As for economics, we assume knowledge of finance, for instance a course in Investment and Portfolio Theory.

A degree in quantitative economics (or econometrics) also qualifies a student, provided some finance is included. Note that the mathematics and statistics level acquired in a typical economics programme is simply not sufficient.

Additionally, we assume the student to be familiar with actuarial science. In particular, risk theory (the expected utility model and compound Poisson ruin and portfolio models), as well as elementary life insurance.

To give an idea about the level of knowledge required, we list the following books used in the BSc Actuarial Science:

• Bodie, Kane & Marcus, "Investments"
• Bain & Engelhardt, "Introduction to Probability and Mathematical Statistics"
• Kaas, Goovaerts, Dhaene & Denuit, "Modern Actuarial Risk Theory"
• Promislow, "Fundamentals of Actuarial Mathematics"

General entry requirements

In addition to the specific requirements, applicants must meet the English language proficiency requirement. 

Applicants should take one of the following English tests:

• Test of English as a Foreign Language (TOEFL)
  A minimum score of 95 is required for the internet-based test (232 computer-based/580 paper-based test)
• IELTS-test for non-native speakers of English
  A minimum score of 6.5 is required of which at least 6 should be obtained for each test results 
• Cambridge International Examinations
  Minimum scores are:
  First Certificate in English (FCE): A
  Certificate in Advanced English (CAE): A/B
  Certificate of Proficiency in English (CPE): B

Applicants who took English at the Dutch pre-university secondary education (VWO) level or at the German secondary education (Abitur) level are exempt from the English language proficiency test requirement.

Apply to the programme

Applications for the 2011-2012 academic year can be submitted as of November 2010 through the online application system.The academic year starts in September, we don't offer a February intake.

Application deadline:

Non-EU-students: 1 March 2011
EU students: 1 April 2011

The following documents need to be uploaded: 

1. Letter of motivation
2. Curriculum Vitae
3. Two letters of recommendation from lecturers
4. Copy of your secondary school diploma and English translation
5. Copy of your bachelor diploma and English translation (if already obtained)
6. Copy of your bachelor list of grades and English translation
7. Copy of TOEFL, IELTS or Cambridge score certificate
8. Copy of your passport
9. Copy of GMAT (optional)

At the end of the online application you will be asked to pay our €100 handling fee. Payment by creditcard only.

Follow-up:

• After receiving your complete application the Admissions Committee will evaluate your profile.
• Within 3 weeks you will receive a final decision by e-mail. If for some reason the evaluation takes longer we will inform you.
• If you are accepted we will ask you to see or receive your original documents or certified copies of your documents by regular mail (i.e. diplomas, transcripts, English proficiency score etc).
• After receiving your documents we will send you our acceptance offer and you will be asked to sign the contract in order to secure your place in the programme.
• After you secured your place in the programme we will arrange your housing and study visa (if needed).