Accounting & Finance

Asia Pacific University (APU) Actuarial Studies Degree with SOA & IFoA Exemptions – Course Details, Entry Requirements, Fees & Intakes

Actuarial Studies Degree with SOA & IFoA Exemptions at Asia Pacific University (APU) and the Course Details, Entry Requirements, Fees & Intakes

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Actuarial Science is gaining popularity in Malaysia for students who are good in Maths to pursue. To become a professional actuary in Malaysia, one needs to attempt the professional papers after they graduate. Students may go for the Society of Actuaries (SOA) USA  or the Institute and Faculty of Actuaries (IFoA) (UK).

The Actuarial Science degree at Asia Pacific University (APU)  has been awarded full accreditation from the Institute and Faculty of Actuaries (IFoA) (UK) In addition, students will also receive credits for all the 3 Validated by Educational Experience (VEE) papers from SOA as long as they receive a minimum mark of 70% in the APU equivalent papers. Read on to find out more about the Course Details, Entry Requirements, Fees & Intakes for the Actuarial Studies degree at Asia Pacific University (APU).

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Course Information for the Actuarial Science degree course at Asia Pacific University (APU)

Actuarial Science at Asia Pacific University (APU)

I wasn’t sure of which university to join for actuarial science. EduSpiral shared with me about the scholarship and actuarial pathways clearly which helped me to decide. Wei Zhe, Actuarial Science at Asia Pacific University (APU)

After Foundation, students will enter the BSc. (Hons) in Actuarial Studies at APU.  The actuarial science degree programme at Asia Pacific University (APU) is specifically designed to provide:

  • The necessary knowledge and skills to provide advice to institutions like insurance or reinsurance companies, pensions funds and financial and investment institutions. The skills acquired by actuaries are not confined to the financial sector but are also transferable to any organisation that has to deal with risk and make financial sense of the future.
  • Opportunities to adapt to Insurance-related industries by providing them with assignments to mimic the actual decision making process and broad-based information pertaining to the industries.
  • Opportunities to develop their skills to solve a problem and model a solution using specialized statistical and actuarial methods.

Intake Dates

The duration for the BSc. (Hons) in Actuarial Studies at Asia Pacific University (APU) is 3 years with 2 semesters a year. Each semester is 6 months long.

Intakes for the degree programmes are in February, April, September and November of each year. For the exact dates, please WhatsApp 01111408838

Actuarial Science Programme Details at Asia Pacific University (APU)

Actuarial Science at UCSI University (APU)

I was confused what to study & which university. My cousin introduced me to EduSpiral who helped me to make the right choice. Ye Lun, Actuarial Science at Asia Pacific University (APU)

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.

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). APU is among the 7 universities in Asia to receive such worldwide recognition.
  • 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.

What are the Entry Requirements for the Actuarial Studies Degree at Asia Pacific University (APU)

Asia Pacific University (APU) is ranked Tier 5 or "Excellent" in the SETARA 2017 rating by MQA. APU is now operating at its new iconic campus at Technology Park Malaysia, Kuala Lumpur.

Asia Pacific University (APU) is ranked Tier 5 or “Excellent” in the SETARA 2017 rating by MQA. APU is now operating at its new iconic campus at Technology Park Malaysia, Kuala Lumpur.

  • Pass STPM with minimum 2 grade C+ ( CGPA 2.33 ) in 2 subjects and a credit in mathematics and pass English at SPM
  • Pass A Level with minimum grade C in 2 subjects and a credit in mathematics and pass English at O Level or equivalent
  • Pass matriculation / Foundation with minimum CGPA 2.50 and a credit in mathematics and pass English at SPM or equivalent
  • 5 Grade B’s in UEC including Mathematics and Pass in English at SPM or equivalent
  • Canadian Pre-University (CPU) with minimum average of 50%; or
  • South Australian Matriculation Certificate (SAM) with minimum of 65%; or
  • International Baccalaureate with minimum 24 marks;
  • Victorian Certificate of Education with minimum average of 50%;
  • Ontario Secondary School Diploma with minimum average of 50%;
  • A qualification that APU accepts as equivalent to the above.
  • International Students must possess a minimum score of 5.5 in IELTS or equivalent.

Education Pathway to the Actuarial Science Degree at Asia Pacific University (APU)

After chatting with EduSpiral on WhatsApp, he met me & my family to take us around the campus & provide further advise on the course. Zijun, Actuarial Science at Asia Pacific University (APU)

After chatting with EduSpiral on WhatsApp, he met me & my family to take us around the campus & provide further advise on the course. Zijun, Actuarial Science at Asia Pacific University (APU)

Students after SPM or O-Levels may go for the Foundation in Business & Finance at Asia Pacific University for 1 year before continuing on to the 3-year BSc. (Hons) Actuarial Studies degree.

With 3 credits in SPM or O-Levels including Maths, students may go for the 2-year Diploma in Accounting and then enter into Year 2 of the Actuarial Studies degree at top rank Asia Pacific University (APU).

Pre-University students with the relevant results in STPM, A-Levels, SAM, CPU, AUSMAT, etc. can enter directly into Year 1 of the BSc. (Hons) Actuarial Studies degree.

What you will study in the Bachelor of Science (Hons) in Actuarial Studies at Asia Pacific University (APU)

An excellent study environment at Asia Pacific University (APU)

An excellent study environment at Asia Pacific University (APU)

APU BSc (Hons) in Actuarial Studies is a 3 years degree programme of full-time study. This programme is designed not only to provide students with knowledge and skills to enter the actuarial profession but also prepare them for the professional examinations that will lead them to a qualified actuary.

During their undergraduate studies, students can attempt the examinations conducted by professional bodies such as Society of Actuaries (SOA) or Institute and Faculty of Actuaries (IFoA) and upon graduation, they can embark on careers as an actuarial assistant.

While working, they continue to sit and pass the remaining professional exams, eventually becoming qualified actuaries in their chosen specialisation in various areas such as Corporate Finance and Enterprise Risk management, Individual Life and Annuities, Group and health Insurance, Retirement Benefits, Quantitative Finance and Investment, and General Insurance.

APU 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.

Accreditation & Recognition of the Actuarial Science Degree at Asia Pacific University (APU)

Institute and Faculty of Actuaries (IFoA) UK

Institute and Faculty of Actuaries (IFoA) UK

The Actuarial Science degree at Asia Pacific University (APU)  has been awarded full accreditation from the Institute and Faculty of Actuaries (IFoA) (UK). APU is among the 7 universities in Asia to receive such worldwide recognition.

APU graduates who perform to the required standard can be eligible for exemption from CS1, CS2, CM1, CM2, CB1 and CB2. This is a 6-paper exemption out of 7 papers of the Core Principles Professional Papers for the new IFoA Curriculum 2019, which is the maximum paper exemptions.

In addition, the university has competent teaching staff with professional or specialized academic qualification, possessing working experience from actuarial industries/academia.

APU’s Actuarial Science course syllabus is comprehensively structured in tandem and compliance with the 2 biggest actuarial bodies, the IFoA (UK) and the SOA (US).

At Asia Pacific University, Bachelor of Science (Hons) Actuarial Studies students will also receive credits for all the 3 Validated by Educational Experience (VEE) papers from SOA as long as they receive a minimum mark of 70% in the APU equivalent papers.

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.

The Actuarial Science degree at Asia Pacific University (APU)  has been awarded full accreditation from the Institute and Faculty of Actuaries (IFoA) (UK)

The Actuarial Science degree at Asia Pacific University (APU)  has been awarded full accreditation from the Institute and Faculty of Actuaries (IFoA) (UK)

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).

What You Will Study

Actuarial Science at UCSI University (APU)

I was confused what to study & which university. My cousin introduced me to EduSpiral who helped me to make the right choice. Ye Lun, Actuarial Science at Asia Pacific University (APU)

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.

Year 1 Subjects for the BSc (Hons) in Actuarial Studies at Asia Pacific University

Asia Pacific University (APU) is ranked Tier 5 or "Excellent" in the SETARA 2013 rating by MQA. APU is now operating at its new iconic campus at Technology Park Malaysia, Kuala Lumpur.

Asia Pacific University (APU) is ranked Tier 5 or “Excellent” in the SETARA rating by MQA.

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

Year 2 Subjects for the BSc (Hons) in Actuarial Studies at Asia Pacific University

Library at Asia Pacific University (APU)

Library at Asia Pacific University (APU)

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

  • 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.

Year 3 Subjects for the BSc (Hons) in Actuarial Studies at Asia Pacific University

Top lecturers teach at Asia Pacific University (APU)

Top lecturers teach at Asia Pacific University (APU)

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.

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

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

2020 Course Fees:

Malaysian Students International Students
Year 1: RM 25,400
Year 2: RM 25,800
Year 3: RM 26,800
Total: RM 78,000
Year 1: RM 28,600 (USD 7,150)
Year 2: RM 29,700 (USD 7,430)
Year 3: RM 29,900 (USD 7,480)
Total: RM 88,200 (USD 22,060)

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

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