Accounting & Finance

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

Best Private University in Malaysia for  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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The Best 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.

Actuarial Science Programme Details 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)

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)

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)

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.

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)

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.

The first year programme comprises modules from the areas of finance, economics and mathematics. The objective of the first year is to equip students with the basic tools of mathematical, financial, accounting and economic analysis which will be required for the modules to follow at Level 2

Statistical Investigation module forms the basis for later statistics options. Linear Algebra, Calculus, Discrete Mathematics, Probability Models and Statistical Inference are introductory level courses designed to prepare students for using mathematics & statistics in other contexts.

Economics will provide students with a better understanding of the Business Environment. Financial Accounting skills and the core principles underlying financial theory will be introduced in this level which will be enhanced in the higher level.

Business & Communication Skills will further equip students with the communication skills required to cope with academic demands of degree level study in all disciplines.

Modules

  • Business and Communication Skills
  • Business Economics
  • Calculus
  • Discrete Mathematics
  • Financial Accounting
  • Introduction to Visual Programming
  • Linear Algebra
  • Probability Models
  • Statistical Inference
  • Statistical Investigation
  • Three (3) MQA modules applicable only to Malaysian students

MQA Modules

  • Bahasa Melayu (Malay Language)
  • Pengajian Malaysia (Malaysian Studies)
  • Pendidikan Moral (Moral Studies); or Pendidikan Islam (Islamic Studies)

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)

This level looks at applications of mathematics and statistics in the Financial & insurance sectors. The modules offered will cover techniques for the analysis of results from experiments and surveys where students will be doing modules like Regression Analysis, Time Series & Forecasting, Life Contingencies as well as Linear Programming.

Modules such as Financial Mathematics, Financial Planning & Control, Financial Statement Analysis and Financial management will allow students to explore finance in greater depths, both at the planning and management aspect.

The Financial Economics module will introduce students to the necessary skills to construct asset liability models and to value financial derivatives whereas Life Contingencies module will provide students with a grounding in the mathematical techniques which can be used to model and value cashflows dependent on death, survival, or other uncertain risks.

Ethics & Corporate Governance will also be taught in this level to provide students with relevant knowledge, skills and professional judgment in which companies are directed and controlled.

Students may opt to undergo an optional period of practical training of about 3 months after the second level of study, which would enable students to experience the culture and ethos of a working environment and formal employment.

Students will benefit from seeing how the skills and knowledge acquired are applied in a practical setting.

Modules

  • Calculus II
  • Ethics and Corporate Governance
  • Financial Economics
  • Financial Management
  • Financial Mathematics
  • Financial Planning and Control
  • Financial Statement Analysis
  • Life Contingencies
  • Linear Programming
  • Regression Analysis
  • Research Methods
  • Time Series and Forecasting

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)

Corporate Finance, Risk Theory, Financial Derivatives, Macroeconomics Policy & Financial Markets, and Portfolio Management modules will further enhance the knowledge of an individual to plan, manage, and analyze the financial and monetary aspects and performance of business enterprises, banking institutions or other organisations.

Insurance Practice and Survival Analysis modules introduce students to a wide range of concepts and terminologies in insurance providing students with basic skills of calculating various insurance related items. Introduction to Stochastic Process will introduce students to a range of stochastic process which are used as modeling tools in diverse fields of applications.

Students will also carry out an individually researched project and their own investigations into areas related to investment, finance, commerce or insurance.

Modules

  • Corporate Finance
  • Financial Derivatives
  • Insurance Practice
  • Introduction to Stochastic Process
  • Investigation in Actuarial Studies
  • Macroeconomics Policy and Financial Markets
  • Pension Planning
  • Portfolio Management
  • Project in Actuarial Studies
  • Risk Theory
  • Survival Analysis

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