Bachelor of Science (Honours) in Actuarial Studies

Course Overview

This programme is specifically designed to provide students with:

• A course of study in Actuarial Science which has been awarded full accreditation by IFoA (UK).
• Competent teaching staff with professional or specialised academic qualification, possessing working experience from actuarial industries/academia.
• Course syllabus which is comprehensively structured in tandem and compliance with the 2 biggest actuarial bodies, the IFoA (UK) and the SOA (US).
• Comprehensive guidance to mould graduates to be industry-ready.

APU is one of the first universities to receive Full IFoA Accreditation with (maximum) exemptions from CS1, CS2, CM1, CM2, CB1 & CB2 in the new IFoA curriculum.

For more information, please click HERE.

APU is the first and the only Malaysian university that has all the six preliminary exams (P, FM, IFM, LTAM, STAM & SRM) and all the three VEE topics listed in its SOA UCAP profile. 

APU is also recognised by the Casualty Actuarial Society at the Silver Level of the CAS University Recognition Program. Our Bachelor of Science (Honours) in Actuarial Studies will not only prepare students for Exam 1, Exam 2, Exam MAS-I, Exam MAS-II and Exam 5 in the new CAS curriculum but also effectively prepare them for careers in the general insurance industry. With this achievement, APU joins a distinguished list of internationally recognised universities with exceptional actuarial studies programmes. 

Achievement

APU’s Bachelor of Science (Honours) in Actuarial Studies is a 3-year degree programme of full-time study. This programme is to develop students’ mathematical, statistical and analytical skills in addition to actuarial practices as preparation to become a qualified actuary.

Actuaries are highly regarded professional and they work across several industries including life and general insurance, commercial and investment banking, pensions and healthcare, consulting firms, and public sector. Actuaries are problem solvers and strategic thinkers with a deep understanding of risk management; they are one of the top paying professionals as they are usually in high demand worldwide.

APU’s Bachelor of Science (Honours) in Actuarial Studies offers Double the Advantage with a Dual Award from De Montfort University (UK), worldwide recognitions from IFoA, SOA and CAS to attain associateship and fellowship and enrich global community.

Curriculum

LEVEL 1

Equipping students with essential fundamentals of Mathematics, Statistics, Economics and Finance starts at Level 1. To complement the core knowledge, the students will also learn Business, Communication, and IT skills, before progressing to the Level 2 of Actuarial Science study.

Modules

• Probability Models
• Linear Algebra
• Business and Communication Skills
• Calculus
• Calculus II
• Financial Accounting
• Microeconomics
• Macroeconomics
• Introduction to R Programming
• Statistics

LEVEL 2

The core knowledge of Mathematics and Statistics now act as engine to drive the complex models of Economics and Finance in the actuarial industries. Those core knowledge are integrated to form actuarial tools and infrastructure, ready to be used for planning and managing purposes. Students will receive exposure and coaching which are actuarial centric, targeting at industrial applications. They are gradually groomed to be more independent in their study and research efforts.

Modules

• Advanced Probability Models
• Financial Statement Analysis
• Predictive Analytics
• Financial Mathematics
• Regression Analysis
• Financial Economics
• Financial Planning and Control
• Business Research Methods
• Financial Management
• Business Ethics & Governance
• Mathematics of Financial Derivatives
• Stochastic Processes

INTERNSHIP (16 WEEKS)

Students will undertake an Internship/Industrial Training for a minimum period of 16 weeks to prepare them for a smooth transition from the classroom to the working environment.

LEVEL 3

The students are now ready to merge their knowledge and industrial experience to forge ahead and put into action their acquired skills in planning, managing and analysing risk. At this level, emphasis is placed on evaluating financial performance of businesses from actuary’s perspectives. Students will have the opportunity to understand the critical roles played by actuaries, for example, in the development and pricing of insurance products. Risk Management, Actuarial Modeling and Ratemaking are some of a wide repertoire of skills to be used.

Modules

• Asset and Liability Valuations
• Life Contingencies
• Strategic Management
• Corporate Finance
• Risk Theory
• Investigation in Actuarial Studies
• Option and Bond Valuations
• Survival Analysis
• Life Contingencies 2
• Pension and Retirement Plans
• Project in Actuarial Studies

MQA Compulsory Subjects*

• Appreciation of Ethics and Civilisation (M’sian Students)
• Malay Communication Language (Int’l Students)
• Philosophy and Current Issues
• Workplace Professional Skills
• Integrity and Anti-corruption
• Co-Curriculum

(*All students are required to successfully complete these modules as stipulated by the Malaysian Qualification Agency)

Entry Requirements

Any qualification that APU accepts as equivalent to the above.

ENGLISH REQUIREMENTS

International Students

Please note that under Ministry of Higher Education regulations, only students who have achieved the minimum requirement in the English Language proficiency assessment as indicated above will be allowed to continue their studies in the main study programme. 

Students who do not have the required English Language achievement may apply for a student visa on conditional basis and are allowed to enrol in an English Language Certification programme at APU upon arrival in Malaysia and, subsequently, appear for the IELTS/TOEFL/PTE/MUET assessment.
 

Students who are unable to obtain the required level of English Competency during the maximum 12 months’ period, will not be allowed to pursue their studies in the main programme and will have to return to their home country.

Students from English speaking countries and those with qualifications taught in English (IGCSE, A-Levels, IB, American High School Diploma etc) are exempted from English requirements. Applications for exemption must be accompanied by supporting documents.

Note: The above entry requirements may differ for specific programmes based on the latest programme standards published by Malaysian Qualifications Agency (MQA).

The qualification and entry requirements for the programmes will be determined based on the "Comparison List of Equivalency of International Qualifications with SPM (O-Levels equivalent) and STPM (A-Levels equivalent)" published by Malaysian Qualifications Agency (MQA).

Career Prospects

• Actuary
• Data Analyst
• Risk Analyst
• Financial Analyst
• Business Analyst
• Financial Planning Advisor
• Investment & Portfolio Manager
• Regulator
• Statistician
• Mathematician
• Professor