Bachelor Of Science (Honours) In Actuarial Studies | Asia Pacific University (APU)

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Bachelor Of Science (Honours) In Actuarial Studies

Duration:
3 Years (6 Semesters)

Award:
APU, Malaysia

Intakes:
25 Feb 2020
​28 Apr 2020

22 Sep 2020

Embracing the Wave of Industry Revolution 4.0


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.

  

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.


This programme is specifically designed to provide students with:

  • A course of study in Actuarial Science which has been awarded full accreditation from the IFoA (UK).
  • Competent teaching staff with professional or specialized 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.

Admission Requirements:

ProgrammesGeneral Requirements
DIRECT ENTRY TO LEVEL 1 OF THE DEGREE:
STPM • Successful completion of STPM with 2 full passes or equivalent with minimum CGPA of 2.33  and completion of SPM or equivalent with credit in Mathematics and pass in English.
A-LEVEL• Successful completion of A-Level with 2 full passes or equivalent and completion of O-Level/SPM or equivalent with credit in Mathematics.
UEC• Credit passes (Grade B) in 5 Subjects including Mathematics.
MATRICULATION/ FOUNDATION• Successful Completion of APU Foundation / Matriculation with a minimum CGPA of 2.5 and completion of SPM/O-Level or equivalent with credit in Mathematics and pass in English.
DIRECT ENTRY TO LEVEL 2 OF THE DEGREE:
DIPLOMA IN ACCOUNTING / DIPLOMA IN FINANCE• Successful completion of the APU/APIIT Diploma or
• Successful completion of Studies in another recognised institute with academic credits equivalent to Level 1 of an Honours Degree

Any qualification that APU accepts as equivalent to the above.

ENGLISH REQUIREMENTS

Malaysian Students 

Band 4 in Malaysian Unified English Test (MUET) or IELTS 6.0 or TOEFL 550 or equivalent is required for Malaysian Students. Applicants who do not possess the above will be required to sit for the APU English Placement Test, and based on the outcome of the test may be required to attend APU Intensive English Programme (IEP) prior to commencement of the Degree Programme.

International Students

ProgrammesGeneral Requirements
FOUNDATION AND DIPLOMA PROGRAMMES • IELTS : 4.0 
• TOEFL PBT : 397 
• TOEFL IBT : 30-31 
• Pearson (PTE) : 30 
• MUET : Band 2
BACHELOR (HONS) DEGREE PROGRAMMES• IELTS : 5.0 (5.5*) 
• TOEFL PBT : 410-417 (450-497*)
• TOEFL IBT : 35-45 (46-59*) 
• Pearson (PTE) : 36 (42*) 
• MUET : Band 3 (Band 4*)

*Only applicable for Actuarial Studies and Banking and Finance programmes.

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 (IGCE, 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).


Did You Know?

INSTITUTE AND FACULTY OF ACTUARIES (IFoA), UK

APU's BSc (Hons) Actuarial Studies is Fully Accredited by the Institute and Faculty of Actuaries (UK). Our graduates who perform to the required standard can be eligible for Block Exemption from CS1, CS2, CM1, CM2, CB1 and CB2 in the new IFOA curriculum.

For more information, please visit https://www.actuaries.org.uk/studying/exam-exemptions/how-apply-exemption/university-courses-exemptions/asia-pacific-university-malaysia

SOCIETY OF ACTUARIES (SOA), USA

APU is also recognized by the Society of Actuaries (US) that our BSc (Hons) Actuarial Studies will prepare students for all the six preliminary exams (P, FM, IFM, LTAM, STAM, and SRM) in the new SOA curriculum. This is in addition to the approved coursework for all the three VEE topics (Accounting & Finance, Economics, and Mathematical Statistics).

For more information, please visit https://www.soa.org/institutions/Asia-Pacific-University-of-Technology-Innovation.aspx


What You Will Study:

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.

Our graduates will also acquire the essential leadership qualities, work in teams, communication skills, problem solving abilities, critical thinking, as well as entrepreneurial and managerial skills that will enable them to face the challenging and exciting world today.

Actuaries usually work primarily for the insurance industry. They are also highly sought after by other sectors such as private corporations, banks, financial institutions and investment firms, brokerages and even government department such as Bank Negara also requires actuaries in risk management and financial consulting services. They also work for:

  • Colleges and Universities
  • Public accounting firms
  • Statisticians & Mathematicians
  • Employee benefits of large companies
  • Hospitals
  • With many emerging new risks, the list is endless

DEGREE 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
  • Financial Accounting
  • Microeconomics
  • Macroeconomic
  • Introduction to R Programming
  • Advanced Probability Models
  • Statistics

In addition to the above, all students are also required to successfully complete General Studies modules as stipulated by the Malaysian Qualification Agency, as well as fulfill credit requirements for Co-Curricular Activities.

DEGREE 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.

Common Modules

  • Asset and Liability Valuations
  • Financial Statement Analysis
  • Predictive Analytics
  • Financial Mathematics
  • Calculus II
  • Regression Analysis
  • Financial Economics
  • Financial Planning and Control
  • Business Research Methods
  • Financial Management
  • Business Ethics & Governance
  • Mathematics of Financial Derivatives

INTERNSHIP (16 WEEKS)

At APU, we encourage our students to be entrepreneurial and innovative. After the completion of Level 2, students will undertake a short internship/industrial training of a minimum of 16 weeks. This will provide our students opportunities to engage with realworld business problems both in our programmes and in our renowned Professional Training placements.

DEGREE 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 analyzing 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.

Common Modules

  • Stochastic Processes
  • Life Contigencies
  • 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

 Note: The specialism will only appear in the academic transcript.

MQA Compulsory Subjects*

  • Ethnic Relations (M’sian Students)
  • Islamic & Asian Civilisation (M’sian Students)
  • Malaysian Studies (Int’l Students)
  • Malay Communication Language (Int’l Students)
  • Workplace Professional Communication Skills
  • Employee & Employment Trends
  • Co-Curriculum

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


Career Options:

  • Actuary
  • Risk Analyst
  • Financial Analyst
  • Financial Planning Advisor
  • Regulator
  • Statistician
  • Mathematician
  • Professor

Course Fees:

Malaysian Students

International Students

Year 1: RM 24,700
Year 2: RM 25,500
Year 3: RM 26,400
Total: RM 76,600

Year 1: RM 27,600 (USD 6,900)
Year 2: RM 28,900 (USD 7,230)
Year 3: RM 29,900 (USD 7,480)
Total: RM 86,400 (USD 21,610)

* Fees stated above do not include Deposits and other Miscellaneous Fees. Please refer to Fee Guide for details.

(R/462/6/0003) (07/22) (MQA/FA1327)

All information is correct at the time of publication, but is subject to change in the interest of continuing improvement.