Asia Pacific University (APU) Actuarial Studies Degree with SOA & IFoA Exemptions – Course Details, Entry Requirements, Fees & Intakes
Asia Pacific University (APU) Actuarial Science Degree Course Information
Actuarial Studies Degree with SOA & Full IFoA Exemptions at Asia Pacific University (APU) and the Course Details, Entry Requirements, Fees & Intakes
- Accreditation & Recognition of the Actuarial Science Degree at Asia Pacific University (APU)
- Intake Dates, Fees, Entry Requirements, and Programme Outline for the Bachelor of Science (Hons) Actuarial Studies 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.
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.
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. Students who are under Bachelor’s Degree Programme will have the option to opt-in for the APU-DMU Dual Degree Scheme. Under this Scheme, students will receive 2 Degree Certificates & Transcripts upon graduation: 1 from Asia Pacific University (APU), Malaysia and 1 from De Montfort University (DMU), UK.
Other than the Actuarial Science degree, APU also offers the degree with 2 specialisms that students can consider:
- BSc (Hons) in Actuarial Studies with a Specialism in Financial Technology (Fintech)
- BSc (Hons) in Actuarial Studies with a Specialism in Data Analytics
Malaysian students after high school or Pre-University wanting to find out more about the Bachelor of Science (Hons) Actuarial Studies course, intake dates & tuition fees at Asia Pacific University (APU), Malaysia have come to the right place. We will provide detailed information for the course and counseling is available.
Established in 1993, Asia Pacific University (APU) is famous in Malaysia for its technology courses and is one of the first private universities to offer the actuarial science degree programme. 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. In addition, 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.
Read on to find out more about the Course Details, Entry Requirements, Fees & Intakes for the Actuarial Studies degree at Asia Pacific University (APU).
Actuarial Science Degree Programme at Asia Pacific University (APU) in Malaysia
Students after SPM or IGCSE/O-Levels will join the Foundation in Business & Finance at APU and subsequently upon successful completion will continue into the BSc. (Hons) in Actuarial Studies at APU.
The actuarial science degree programme at Asia Pacific University (APU) is specifically designed to provide:
- A course of study in Actuarial Science which has been awarded full accreditation by IFoA (UK) with maximum exemptions.
- 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 3 biggest actuarial bodies, the IFoA (UK), the SOA (US) and the CAS (US).
- Comprehensive guidance to mould graduates to be industry-ready.
Why Study Actuarial Science at Asia Pacific University?
- 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 mold graduates to be industry-ready.
- According to the latest Graduate Tracer Study 2018 by Ministry of Education Malaysia, 100% of APU graduates are employed by graduation. This is not just a number, but a significant symbol of APU’s success and pride in nurturing professionals for global careers.
- The university has more than 12,000 students coming from over 100 countries. 60% of its students are international students giving the campus a very international flavour. This is advantageous to Malaysian students who want to learn in a global environment in order to compete in the multinational work force of the future. In addition, it forces Malaysian students to improve their English while communicating with the international students.
Actuarial Science Programme Details 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.
Education Pathway to the Actuarial Science Degree at Asia Pacific University (APU)
Students after SPM or IGCSE/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 IGCSE/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.
Entry Requirements for the Actuarial Studies Degree at Asia Pacific University (APU)
| GENERAL REQUIREMENTS | |
| DIRECT ENTRY TO LEVEL 1 OF THE DEGREE: | |
| STPM | • 2 Passes in STPM with a minimum Grade C+ (GP 2.33) and a Credit in Mathematics and a Pass in English at SPM Level or its equivalent. |
| A-LEVEL | • 2 Passes (Grade A-D) in A-Level in any 2 subjects, and a Credit in Mathematics and a Pass in English at SPM/O-Level/ IGCSE or its equivalent. |
| UEC | • 5 Grade B’s in UEC including Mathematics with a Pass in English. |
| MATRICULATION/ FOUNDATION | • Passed Foundation programme (minimum CGPA of 2.5) with a Credit in Mathematics and a Pass in English at SPM/O-Level/IGCSE or equivalent. |
What you will study in the Bachelor of Science (Hons) in Actuarial Studies 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)
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), maximum exemptions from IFoA and SOA to attain associateship and fellowship and enrich global community.
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.
| 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 in the Bachelor of Science (Honours) in Actuarial Studies
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
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
Year 2 Subjects for the BSc (Hons) in Actuarial Studies at Asia Pacific University
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 a short Internship/ Industrial Training for a minimum period of 16 weeks to prepare them for a smooth transition from the classroom to the working environment.
Year 3 Subjects for the BSc (Hons) in Actuarial Studies at Asia Pacific University
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)
Career Options for Graduates of the BSc. (Hons) in Actuarial Studies at Asia Pacific University (APU)
- Actuary
- Data Analyst
- Risk Analyst
- Financial Analyst
- Business Analyst
- Financial Planning Advisor
- Investment & Portfolio Manager
- Regulator
- Statistician
- Mathematician
- Professor
CASUALTY ACTUARIAL SOCIETY (CAS), USA
CAS University Recognition Program
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.
For more information, please visit: https://www.casact.org/university-programs/cas-university-recognition-list
About the CAS
With 10,000+ members working in more than forty countries, the CAS is the global leader in the credentialling and education of general insurance actuaries.
CAS members work in a vast array of settings, including insurance companies, educational institutions, state insurance departments, federal government agencies, independent consulting firms, and many other organizations that require management of risk. Learn more at http://www.casact.org.
