Actuarial and Financial Sciences
Sapienza University of Rome, Rome
Tuition, per year
€300
Unverified. Not yet verified. A person has not opened the source for this cycle. Read off the institution own programme page on 13 September 2026 by a single research pass. It has NOT been independently re-checked: the verification stage of that run was stopped before it reached this record, so the record renders as unverified rather than claiming a receipt it does not have. The English requirement is held at unverified unless a per programme source URL was found. Figures here are a starting point for a reader, not a checked claim. Open questions: 1) The call requires a certified B1 in English but names no accepted test and prints no score. Confirm with didattica-dss@uniroma1.it which certificates satisfy B1, and what IELTS or TOEFL score they map to it. 2) No minimum grade or GPA is published anywhere for this degree. 3) The call does not describe how the personal preparation check is carried out. It points to the Regolamento didattico of the course, which was not located on the department site. 4) The Sapienza fee page carrying the 300 euro Band A figure and the 2,924 euro bracket maximum shows payment deadlines of 6 November 2025 and 26 March 2026, and does not name the academic year. Confirm both figures hold for 2026-2027. 5) The catalogue marks the course as Italian and English but does not say which modules are taught in which language. Whether the Quantitative finance curriculum can be completed without Italian is not stated. 6) Universitaly pre-enrolment for 2026-2027 closed on 30 June 2026, before the 15 September 2026 requirements check date. It is unclear whether a Pakistani applicant can still obtain a visa for a September 2026 start. 7) The professional opportunities, objectives and study plan pages all carry a banner saying the 2026-2027 catalogue content is still being updated, so this content may change. Sapienza University of Rome course catalogue
Application deadline
closed on 15 September 2026
English requirement
IELTS required
The university’s exact wording
“The degree's own call for applications, a.y. 2026-2027, point 2 item 4, states the requirement as: "conoscenza della lingua inglese, in forma scritta e orale, di livello certificato B1 o superiore del CEF (Common European Framework) per la lingua inglese." Point 4 repeats it: the personal preparation check is carried out for candidates who have met the curricular requirements and "abbiano inoltre certificato una conoscenza della lingua inglese di livello B1 o superiore del CEF." The call sets B1, not B2, names no test and prints no IELTS or TOEFL score. It contains no waiver clause of any kind. Separately, the same call requires Italian at level B2, by test or certificate, for non-EU applicants who need a study visa and enrol on a course delivered in Italian.”
Unverified. Not yet verified. A person has not opened the source for this cycle. Read off the institution own programme page on 13 September 2026 by a single research pass. It has NOT been independently re-checked: the verification stage of that run was stopped before it reached this record, so the record renders as unverified rather than claiming a receipt it does not have. The English requirement is held at unverified unless a per programme source URL was found. Figures here are a starting point for a reader, not a checked claim. Open questions: 1) The call requires a certified B1 in English but names no accepted test and prints no score. Confirm with didattica-dss@uniroma1.it which certificates satisfy B1, and what IELTS or TOEFL score they map to it. 2) No minimum grade or GPA is published anywhere for this degree. 3) The call does not describe how the personal preparation check is carried out. It points to the Regolamento didattico of the course, which was not located on the department site. 4) The Sapienza fee page carrying the 300 euro Band A figure and the 2,924 euro bracket maximum shows payment deadlines of 6 November 2025 and 26 March 2026, and does not name the academic year. Confirm both figures hold for 2026-2027. 5) The catalogue marks the course as Italian and English but does not say which modules are taught in which language. Whether the Quantitative finance curriculum can be completed without Italian is not stated. 6) Universitaly pre-enrolment for 2026-2027 closed on 30 June 2026, before the 15 September 2026 requirements check date. It is unclear whether a Pakistani applicant can still obtain a visa for a September 2026 start. 7) The professional opportunities, objectives and study plan pages all carry a banner saying the 2026-2027 catalogue content is still being updated, so this content may change. Sapienza University of Rome course catalogue
- LevelMaster's degreeLaurea Magistrale
- SubjectBusiness and economics
- Taught inTaught in Italian and English
- Length2 years
- DeliveryOn campus
- StartsSeptember
- AdmissionOpen access
- Minimum markNot yet read
The money
What you pay, and what you must prove you have.
Two different things, kept apart on purpose: a bill you pay, and a balance a visa officer needs to see that never gets spent.
What you pay
Tuition, per year
€300
about PKR 96,000
Why this figure, and not a lower one
Italian state fees usually scale with an assessed household indicator. Where the call states one figure it appears above; where it states a scale, this page says so rather than averaging it.
Read off the institution own programme page on 13 September 2026 by a single research pass. It has NOT been independently re-checked: the verification stage of that run was stopped before it reached this record, so the record renders as unverified rather than claiming a receipt it does not have. The English requirement is held at unverified unless a per programme source URL was found. Figures here are a starting point for a reader, not a checked claim. Open questions: 1) The call requires a certified B1 in English but names no accepted test and prints no score. Confirm with didattica-dss@uniroma1.it which certificates satisfy B1, and what IELTS or TOEFL score they map to it. 2) No minimum grade or GPA is published anywhere for this degree. 3) The call does not describe how the personal preparation check is carried out. It points to the Regolamento didattico of the course, which was not located on the department site. 4) The Sapienza fee page carrying the 300 euro Band A figure and the 2,924 euro bracket maximum shows payment deadlines of 6 November 2025 and 26 March 2026, and does not name the academic year. Confirm both figures hold for 2026-2027. 5) The catalogue marks the course as Italian and English but does not say which modules are taught in which language. Whether the Quantitative finance curriculum can be completed without Italian is not stated. 6) Universitaly pre-enrolment for 2026-2027 closed on 30 June 2026, before the 15 September 2026 requirements check date. It is unclear whether a Pakistani applicant can still obtain a visa for a September 2026 start. 7) The professional opportunities, objectives and study plan pages all carry a banner saying the 2026-2027 catalogue content is still being updated, so this content may change.
Unverified. Not yet verified. A person has not opened the source for this cycle. Read off the institution own programme page on 13 September 2026 by a single research pass. It has NOT been independently re-checked: the verification stage of that run was stopped before it reached this record, so the record renders as unverified rather than claiming a receipt it does not have. The English requirement is held at unverified unless a per programme source URL was found. Figures here are a starting point for a reader, not a checked claim. Open questions: 1) The call requires a certified B1 in English but names no accepted test and prints no score. Confirm with didattica-dss@uniroma1.it which certificates satisfy B1, and what IELTS or TOEFL score they map to it. 2) No minimum grade or GPA is published anywhere for this degree. 3) The call does not describe how the personal preparation check is carried out. It points to the Regolamento didattico of the course, which was not located on the department site. 4) The Sapienza fee page carrying the 300 euro Band A figure and the 2,924 euro bracket maximum shows payment deadlines of 6 November 2025 and 26 March 2026, and does not name the academic year. Confirm both figures hold for 2026-2027. 5) The catalogue marks the course as Italian and English but does not say which modules are taught in which language. Whether the Quantitative finance curriculum can be completed without Italian is not stated. 6) Universitaly pre-enrolment for 2026-2027 closed on 30 June 2026, before the 15 September 2026 requirements check date. It is unclear whether a Pakistani applicant can still obtain a visa for a September 2026 start. 7) The professional opportunities, objectives and study plan pages all carry a banner saying the 2026-2027 catalogue content is still being updated, so this content may change. Sapienza University of Rome course catalogue
To be considered, once
€10
about PKR 3,000
Paid to the university when you submit. Non-refundable, and separate from anything the visa itself costs.
Unverified. Not yet verified. A person has not opened the source for this cycle. Read off the institution own programme page on 13 September 2026 by a single research pass. It has NOT been independently re-checked: the verification stage of that run was stopped before it reached this record, so the record renders as unverified rather than claiming a receipt it does not have. The English requirement is held at unverified unless a per programme source URL was found. Figures here are a starting point for a reader, not a checked claim. Open questions: 1) The call requires a certified B1 in English but names no accepted test and prints no score. Confirm with didattica-dss@uniroma1.it which certificates satisfy B1, and what IELTS or TOEFL score they map to it. 2) No minimum grade or GPA is published anywhere for this degree. 3) The call does not describe how the personal preparation check is carried out. It points to the Regolamento didattico of the course, which was not located on the department site. 4) The Sapienza fee page carrying the 300 euro Band A figure and the 2,924 euro bracket maximum shows payment deadlines of 6 November 2025 and 26 March 2026, and does not name the academic year. Confirm both figures hold for 2026-2027. 5) The catalogue marks the course as Italian and English but does not say which modules are taught in which language. Whether the Quantitative finance curriculum can be completed without Italian is not stated. 6) Universitaly pre-enrolment for 2026-2027 closed on 30 June 2026, before the 15 September 2026 requirements check date. It is unclear whether a Pakistani applicant can still obtain a visa for a September 2026 start. 7) The professional opportunities, objectives and study plan pages all carry a banner saying the 2026-2027 catalogue content is still being updated, so this content may change. Sapienza University of Rome course catalogue
What you must prove you have
Funds you must show, per year
€10,179.85
Health cover, minimum
€30,000
How these two are decided
Funds you must show: in your own account, or evidenced by a sponsor or an award. Cash is refused.
Health cover: emergency treatment and repatriation, across the Schengen area, for as long as the visa lasts.
Universitaly (MUR)checked
Who may hold the money, and the refusal of cash, are the embassy’s own rules for a study visa rather than the university’s.
Embassy of Italy, Islamabadchecked
Rent, food and travel are in none of the figures above. What a month actually costs in Italy.
Amounts are in euro, as published. €1 = PKR 321.43, 30 August 2026.
Entry requirements
What this call asks of you.
The admission model first, because it is the one that closes a degree for a year. Everything below it is quoted from the university's call for applications for this cycle, in its order.
How it admits
Open access
accesso libero
The university's own wording
“The Italian catalogue entry prints "Modalita di accesso: Verifica dei requisiti e della preparazione personale" (with the grave accent on Modalita as printed). The official call is headed "Modalita di ammissione al Corso di laurea magistrale con verifica dei requisiti e della preparazione personale in: Scienze attuariali e finanziarie". Neither document uses the phrase accesso programmato, caps the number of places, or mentions a graduatoria or ranking list. Access is therefore open, conditional on passing both checks.”
Entrance tests
The university's own test
What the call asks for
A three year degree or university diploma, or another qualification obtained abroad and recognised as suitable
At least 60 university credits (CFU) across the subject areas the call lists: Area 01 INF/01 and MAT/*; Area 02 FIS/01, FIS/02, FIS/07; Area 09 ING-IND/35, ING-INF/05; Area 10 IUS/01, IUS/05, IUS/09; Area 13 SECS-P/* and SECS-S/*
Graduates of the Italian class L-41 (Statistica) are recognised as holding the knowledge needed to continue; the call also admits degrees in other classes, typically with an economic, financial or mathematical orientation
Adequate knowledge of Mathematics, Probability, Statistics, Financial mathematics and Actuarial mathematics, which is what the personal preparation check assesses
Certified knowledge of English, written and spoken, at CEFR level B1 or higher
Applicants who have not yet graduated may request the requirements check, provided they graduate by 19 December 2026 if their degree is from another Italian or an international university, or by 23 January 2027 if it is from Sapienza
Non-EU applicants who need a study visa and enrol on a course delivered in Italian must pass the Italian language test at a level not below B2, or hold an Italian certificate at B2 or higher
The English rule
IELTS required
“The degree's own call for applications, a.y. 2026-2027, point 2 item 4, states the requirement as: "conoscenza della lingua inglese, in forma scritta e orale, di livello certificato B1 o superiore del CEF (Common European Framework) per la lingua inglese." Point 4 repeats it: the personal preparation check is carried out for candidates who have met the curricular requirements and "abbiano inoltre certificato una conoscenza della lingua inglese di livello B1 o superiore del CEF." The call sets B1, not B2, names no test and prints no IELTS or TOEFL score. It contains no waiver clause of any kind. Separately, the same call requires Italian at level B2, by test or certificate, for non-EU applicants who need a study visa and enrol on a course delivered in Italian.”
The application file
- Self certification of the qualification obtained, stating the degree class, and of the exams passed, stating credits (CFU) and subject area (SSD) for each, together with any language certificates
- Copy of the payment of the 10,00 euro contribution
- Copy of an identity document
- For a foreign qualification: a detailed syllabus of the degree programme, giving lecture hours and theoretical and practical activities, carrying the original university stamp and translated into Italian or English
- For non-EU applicants resident abroad: the study visa for University Enrolment and the residence permit request receipt, which may be sent at a later stage
English, accepted proofs
- IELTS
- TOEFL
- PTE Academic
Only what this call names. A proof another degree at the same university accepts is not on this list unless this call says so too.
Before any of it counts
Start the legalisation chain first
A degree awarded outside Europe has to be attested and legalised before an Italian university reads it. That chain is decided by the country you apply from, and no office on it publishes a turnaround.
The degree
About this degree.
A two year master's degree in actuarial science and mathematical finance, run by the Department of Statistical Sciences in Rome. It suits graduates of a quantitative first degree who want to qualify as an actuary or work in financial risk.
The Master's Degree Programme in Actuarial and Financial Sciences trains specialists in actuarial science, mathematical finance and other quantitative methods. Sapienza places it in degree class LM-83. It runs for two years. The Department of Statistical Sciences teaches it, inside the Faculty of Information Engineering, Computer Science and Statistics. Lessons are conventional and in person, in Rome. The catalogue lists the language of instruction as Italian and English.
The university's full description
The degree has two curricula for 2026/2027. They are Scienze attuariali and Quantitative finance. Both open with the same first semester: Statistical methods for finance and insurance, Mathematical Models For Financial Markets, and Insurance and banking law. Scienze attuariali then moves to non-life insurance mathematics, life assurance techniques and pension work. Quantitative finance moves to asset pricing, forecasting models and financial risk management. Both end with a final exam worth 21 credits. The full module list, with credits, is published on the study plan page.
Admission is not by ranking and no number of places is published. You must pass a check of your curricular requirements, then a check of your personal preparation. The curricular requirement is a three year degree, or a foreign qualification recognised as suitable, plus at least 60 university credits in the subject areas the call lists. The call asks for certified English at CEFR level B1 or higher. That is lower than the B2 Sapienza sets for its fully English taught degrees. This degree is not listed in Sapienza's 2026-2027 pre-selection catalogue of English taught programmes, so it carries no minimum GPA and no medium of instruction waiver clause.
Fees depend on whether you can file an Italian ISEE income declaration. If you earn income abroad and cannot file one, you pay a fixed yearly contribution set by country band. Pakistan sits in Band A, which is 300 euro a year. A regional tax of 140 euro and stamp duty of 16 euro are added on top. A student who files an ISEE and qualifies for no reduction pays up to 2,924 euro a year, which is the maximum standard rate for this faculty's contribution bracket.
Lessons for 2026-2027 begin on Wednesday 23 September 2026 and the second teaching block begins on 22 February 2027. The requirements check opened on 2 July 2026 and costs 10 euro, paid on Infostud under course code 33638. For a non-EU applicant who needs a study visa, 15 September 2026 is the only closing date that counts. Pre-enrolment on the Universitaly portal for this cycle closed on 30 June 2026.
Where it leads
As the university states it on its own page. Not a placement rate and not a promise.
- ACTUARY (SUBJECT TO PASSING THE STATE EXAMINATION AND REGISTRATION IN SECTION A OF THE REGISTER OF ACTUARIES)
- EXPERT IN FINANCIAL METHODOLOGIES
- Operational and management roles in insurance and reinsurance companies (non-life actuaries, life actuaries, pension funds, actuarial functions, risk management, etc.)
- Positions in supervisory institutions, with particular reference to insurance supervision
- Consulting and auditing firms
- IT companies developing administrative and management software and calculating solvency requirements for insurance companies
- Operational and management positions in financial institutions, banks, and financial management offices of non-financial companies
- Business analyst in auditing or consulting firms, described by the institution as a highly sought-after position in this field
- Valuation of complex financial instruments, such as derivative contracts, for private and public institutions
- National and international supervisory or regulatory authorities
- Securities brokerage firms and asset management companies
- Access to PhD programmes in actuarial sciences and risk management
- Access to PhD programmes in quantitative methodologies for finance and risk management
Asked about this programme
The questions this one gets.
Do I need IELTS for this degree?
You need a certificate of English at CEFR level B1 or higher. The programme's own call sets B1, not the B2 that Sapienza asks for its fully English taught degrees, and it names no test. Sapienza's accepted certificate list is fixed university wide and includes IELTS Academic, TOEFL iBT, Cambridge FCE, CAE and CPE, Pearson PTE General Level 3 and PTE Academic. Duolingo is not accepted for a degree.
Is the course taught in English?
Not entirely. The catalogue lists the language as Italian and English. The Quantitative finance curriculum carries most of the English teaching. Because part of the course is delivered in Italian, a non-EU applicant who needs a study visa must also show Italian at CEFR level B2, by test or by certificate.
What does it cost per year?
If you earn your income abroad and cannot file an Italian ISEE declaration, you pay a fixed yearly contribution set by country band. Pakistan is in Band A, which is 300 euro a year, paid in three instalments of 90, 105 and 105 euro. A regional tax of 140 euro and stamp duty of 16 euro are added. The requirements check costs a separate 10 euro.
Is there a minimum grade or GPA?
The call publishes none. This degree is not in Sapienza's 2026-2027 pre-selection catalogue, which is where the per programme minimum GPA figures are printed. Your first degree is judged on its credits and subject areas, then on the personal preparation check.
When do I have to apply?
The requirements check opened on 2 July 2026. For a non-EU applicant who needs a study visa, 15 September 2026 is the only usable closing date. Applicants who do not need a visa may also choose 15 October 2026, 17 November 2026 or 17 December 2026.
Do I go through the Sapienza pre-selection?
No. This degree has no entry in the 2026-2027 online pre-selection catalogue, so the 30 euro pre-selection fee and its procedure do not apply. You follow the route for master's degrees with a requirements and personal knowledge assessment, without pre-selection and without a pre-acceptance letter.
One programme, one university, once a year.
That is what Universitaly allows. Three questions tell you where you stand before you spend that choice: the degree level, what the visa wants in the bank, and how much calendar is left.
Universitaly (MUR)checked
The shortlist is a conversation
An advisor reads your documents against what this call asks for and tells you whether the file will clear, and if it will not, what to fix.
Tuition a year€300
Check Pakistan eligibility