Bachelor of Science (Honours) Actuarial Science

Course Overview

Actuarial Science is the application of mathematics, statistics, and financial theory to solve financial problems. It is a study of the financial risks associated with uncertain future events, with a focus on assurance, property and casualty insurance, pension plans, and employee benefit programmes.

The UTAR Bachelor of Science (Honours) Actuarial Science is designed to meet the evolving needs and challenges of the insurance and investment-related industries by aligning its syllabi with the professional examination requirements. The Bachelor of Science (Honours) Actuarial Science offers relevant courses that have approved by international renown actuarial organisation in the USA for Validation by Education Experience (VEE) credit and exemption in the Core Principles subjects by Institute and Faculty of Actuaries in United Kingdom.  This programme also provides students with IT skills, which will help them find work.

Programme Strengths: Strong focus on the mathematical aspect of actuarial science with specialisation in Insurance and Risk Management, Data Analytics and Financial Reporting. 

Achievement

The UTAR Bachelor of Science (Honours) Actuarial Science is officially recognised by the following actuarial organisation.

• Society of Actuaries (SOA)
• Institute and Faculty of Actuaries (IFoA)

Curriculum

Year 1

Basic Mathematics​Calculus I​Calculus II​Financial Accounting IFinancial Accounting II​MPU 1* National Language / Other Language​Probability and Statistic I Probability and Statistic I​IProgramming Techniques for Data Processing​ Theory of Interest
 

Year 2

AS Elective Group I AS Elective Group III Financial Economics I​Industrial Training​Introduction to Risk Management and Insurance​Introduction to Actuarial Mathematics​Macroeconomics I​Microeconomics I​
 

Year 3

AS Elective Group I 
AS Elective Group III 
AS Elective Group IV​AS Elective Project Co-curriculum​MPU 1**Sociology in Malaysian Context​Sun Zi’s Art of War and Business Strategies​
 

AS Elective Group I (Choose 8 course(s))

Actuarial Mathematics​Advanced Database Systems​

Applied Nonparametric

Statistics​Applied Regression Analysis​Credibility Theory​Database System

Fundamentals​Financial Economics II​Introduction to Ratemaking and Reserving​Loss Models​Mathematical Statistics Microeconomics II​Operations Research I Predictive Modelling Statistical Decisions Statistical Simulation for Insurance and Finance​Stochastic Processes​ Time Series Analysis 
 

AS Elective Group III (Choose 1 course)

• Business Finance 
   
• Financial Statement Analysis 
• Islamic Finance 
• Portfolio Management 

AS Elective Group IV (Choose 3 course(s))

• Academic Writing 
   
• Applications of Artificial Intelligence​
• Automation in the 4th Industrial Revolution​
• Basic Professional Writing 
• Communication in Interpersonal Relationship​
• Confucianism and Modern Society​
• Creative Thinking and Idea Generation​
• Critical Reading and Thinking
• Cross Cultural Management​ 
• Cross-Cultural Interactive Communication 
• Digital Economy​
• Electronic Commerce​
• Experiential Research Skills (ERS)​
• Oral Communication and Interpersonal Skills 
• Principles of International Business​
• Property Market Analysis​
• Public Speaking and Oral Presentation 
• Understanding Politics: State, Nation and Government​

AS Elective Project 
(Choose 2 course(s))

• Actuarial Expository Project​
   
• Actuarial Modelling​
• Case Study on Insurance Practice​
• Project I​
• Project I​I 

MPU 1* (Choose 1 course)

Penhayatan Etika dan Peradaban - For Local StudentsPhilosophy and Current Issues - For International Students




 

MPU 1** (Choose 1 course)

Bahasa Melayu Komunikasi 2 - For International StudentsFalsafah dan Isu Semasa- For Local Students




 

National Language/Other Language (Choose 1 course)

• Bahasa Kebangsaan (A) - For Malaysian only, without SPM-BM credit
   
• Communication Tamil For Health Sciences
• Introduction to French
• Introduction to German Language
• Introduction to Japanese
• Introduction to Korean
• Introduction to Tamil Language
• Introduction to Thai Language

Co-Curriculum (Choose 1 course)

• Art, Craft, and Design
   
• Arts and Cultural Performance
• Business Plan Writing and Preparation​
• Community Project​
• Critical Thinking, Creative Thinking and Problem Solving​
• Language, Culture and Social Study Abroad​
• Leadership and Teambuilding
• Management of Sports Activity
• Managing Personal Finance​
• Music Performance​
• Social Entrepreneurship Project
• Study Soft Skills and/or Life Skills Abroad
• Team Work and Collaborative Project
• Work Ethics and EQ​

Entry Requirements

Career Prospects

Graduates with a degree in Actuarial Science can find employment in a variety of industries, including insurance, banking, and financial services.

• Actuary Analyst 
• Pricing Analyst 
• Tax Analyst 
• Portfolio Manager 
• Business Development Manager