1. What are the similarities and differences between “quantitative
finance” and “risk management”?
Both studies of "risk management" and "quantitative finance" require solid training in mathematics and statistics. While "risk management" and "quantitative finance" have some overlap in coverage, they should really be considered as distinctive subjects. "Risk management" is one of the topic areas in our quantitative finance curriculum. Indeed, "quantitative finance" includes other areas such as financial engineering, asset valuation, asset securitization, quantitative investment, and financial management, as we have in our programme.
A "risk management" programme covers risks that arise in a variety of settings, while the risk management part of our quantitative finance programme focuses on risks that arise from the financial markets. To be concrete, our BSc(QFin) programme has two courses that cover all three types of financial risks, i.e. market risk, credit risk, and operational risk.
2. What are the similarities and differences between “quantitative
finance” and “actuarial science”?
"Actuarial science" is the discipline that applies mathematical and statistical methods to assess mortality and other event risks in the insurance industry and the design of pension schemes. Graduates of actuarial science mainly work for life, health, and casualty insurance companies. "Quantitative finance" also relies on mathematical and statistical methods, but it applies them mainly to financial problems, such as development and valuation of financial assets, investment strategy, portfolio management, asset trading, and risk management of those decisions. Graduates of quantitative finance mainly work for financial institutions such as commercial banks, investment banks, and fund management firms.
3. Are there any interviews for applicants?
Selected JUPAS and non-JUPAS applicants may be invited for interviews. Please note, however, that interviews are not a mandatory requirement for admission.
4. What is the admission quota for BSc(QFin)?
The admission quota is 30.