Risk Management , Acturial Science and quantitative Finance

From Ac, RMS to QFN
They have many things that are similar
especially during the first year (or even second year)

All three subjects can be regraded as using mathematical and statistical method
to solve problem in business and finance(mainly finance actually)

First, discuss about Actuarial Science.
Both HKU, CUHK have this subject, the major difference is that
HKU have it in the Statistics and AS department, and
CUHK have it in the Business Fac (Finance Department) as IFA (insurance, finance and actuarial analysis)
Actually, both have a similar syl.
Both need a high admission grade to get in, and CU count more CE, HKU more AL.
Some people also compare the internship and the relationshop with the industry,
but since I do not know much about this, I canot say much.
Only thing can be said is that, HKU Ac have more ppl than CU IFA, though many are from EAS and mainland.
Actuarial Science mainly concern with using of mathematical and statistical(more) to solve problem in the insurance file, may be like perium and reserve computation, managment of the liability and asset, financial risk like interest rate.

Second about Risk Management Science.
In HKU, appear as one of the major of 6901, without quote.
CUHK as an individaul program, around 20 ppl each year.
Again, the syl doesn't differ much,
but CUHK have the RMS code course.....though in HKU also have STAT X8XX.
Risk Management Science mainly consist of the study of mathematical and statistical to deal with the risk of finanical institution like banks, funds and etc.
Mainly issue like capaticla reserve for bank, credit risk and market risk management by mathematical method and etc.

Third about Quantitative Finance.
Only CUHK, UST have this program.
CUHK about 50 EAS last year, 27 JUPAS; UST around twenty-something....
Again the syl is similar.
QFN is mainly about use of mathematical and statistical model to solve problem in derivative pricing, portfolio managment, when many financial institution need these technique.

2008-05-25 20:49:30 補充：
Comparing the syl. between the programs, I suggest you better go to the websites of these University for details, PLEASE DO NOT BE SO LAZY. IF you are not able to do such simple, university is not for you. So I will here rather talk about this issue briefly.

2008-05-25 20:52:31 補充：
Both Ac, RMS, QFN, need student to have rigor math and sta technique, and need basic knowledge about account, economics and finance to understand the probelm arise; in addition, since in practise lots of computation is needed, programming in C/C++ is also needed.

2008-05-25 20:52:41 補充：
Most likely all these is in year 1 as core course.
Of course, course like investment analysis, derivatives pricing, regression(econometrics), stochastic modeling are also a must and will be in 2nd year, but some may be core and others as elective.

2008-05-25 20:53:17 補充：
For Ac, need Actuarial Mathematics, loss model, survival and etc.
For RMS, need derivative pricing, modern financial theory, may be computation method and etc.
For QFN, need ....actually to RMS, but RMS concern more on statistical simulation, risk analysis and quantitative analysis,

2008-05-25 20:53:40 補充：
QFN will focus more on pricing and portfolio management by quant method. Actually for ug, these difference(i mean between Q&R) is not significant, since it is too difficult for an oridinary undergrad to handle all these; only senior ug and pg will consider these problems.

2008-05-25 20:53:49 補充：
The mainly problem should be of concern are the difficulties of enteing the program, the career/internship chance of the department, the future career path/research propects, the teaching quatatily, the acadmically enviornment of the department; and of course, the syllbus of the program.

2008-05-25 20:54:02 補充：
CUHK, UST QFN not differ by much, in both entry difficulties and syl.
HKU 6901 is much easier than CUHK RMS, but most ppl consider CUHK RMS as much better than HKU one, in both career/research and syllbus.

2008-05-25 20:56:50 補充：
CUHK IFA was heard that having better industry relationship than HKU Ac, but HKU Ac seems have more coverage on the SOA examination.

作死佢, 居然限我字數, 搞到要做咁鬼多剪貼...
For further problem, www.discuss.com.hk 問啦...Yahoo knowledge好鬼乜

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