Best Actuarial Science Degree Programmes in Malaysia
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If you excel at mathematics, enjoy problem solving and are looking for a degree that will prepare you for a rewarding career – both intellectually and financially – Actuarial Science could be the programme for you.
A top actuarial science programme from a private university in Malaysia can enhance your ability to perform well on the rigorous demands of the actuarial professional exams and requirements.
In addition, exemptions from the professional papers will allow you to complete faster. The most common route to become an Actuary in Malaysia is taking the Professional Papers from the Society of Actuaries (SOA) – USA and the Institute and Faculty of Actuaries (IFoA) – UK.
Outstanding private universities in Malaysia for Actuarial Science or Actuarial Maths degree are Heriot-Watt University Malaysia, Asia Pacific University (APU), and Taylor’s University.
You might also be interested to read:
- 4 Top Private Universities in Malaysia Best for Actuarial Science Studies Courses
- Pathway to Become an Actuary in Malaysia through the Institute and Faculty of Actuaries (IFoA) Curriculum 2019
- Actuarial Science in Malaysia – Job, Salary, Education Pathway & Professional Papers
- Which are the Top Private Universities Best for Actuarial Science Malaysia
- Top Universities in Malaysia for Actuarial Science Best for Preparing You for the Society of Actuaries (SOA) Exams
- How to Become a Professional Actuary in Malaysia through the Institute and Faculty of Actuaries (IFoA)
- Studying Actuarial Science in Malaysia & the Best Pathway to Become a Professional Actuary
- Studying Actuarial Science in Malaysia can get you a High Salary Career
- Best Pathway to Becoming an Actuary in Malaysia through the Society of Actuaries (SOA) Professional Exams
- Best Actuarial Science Degree Courses in Malaysia
- Actuarial Science Degree at Malaysia’s Private Universities with VEE Exemptions
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Best Private Universities in Malaysia to Study Actuarial Science
Min En, Actuarial Science, Heriot-Watt University Malaysia
Choosing a university to study at is not easy. There are many private universities in Malaysia to pick from for actuarial science and all of them offer different experiences, different subjects and different courses. Choosing a university to study in Malaysia is one of the most important decisions you will make in your life. Your decision will be influenced by many criteria.
Every university and course in Malaysia is different and each student wants different things to fit their education and career goals. Students after SPM, O-Levels, STPM, UEC, A-Levels or other Pre-University programme will almost certainly need to decide what is most important to you. The best university is one that fits your career goals, your personality and can push you to a higher level of success.
Why Study at Top Private Universities in Malaysia for Actuarial Science?
Ye Lun, Actuarial Science at Asia Pacific University (APU)
Studying at the top ranking university or college in Malaysia gives you a lot of opportunities in your future professional life. Top universities provide a high standard of education that equips you well for your future career. Furthermore, a degree earned at a reputable university in Malaysia makes seeking employment much easier whether locally or globally.
The Actuarial Science degree at Asia Pacific University (APU) and Heriot-Watt University Malaysia have been awarded full accreditation from the Institute and Faculty of Actuaries (IFoA) (UK) This can significantly reduce the time taken to qualify as a Fellow of the Institute and Faculty of Actuaries. In addition, students will also receive credits for all the 3 Validated by Educational Experience (VEE) papers from SOA.
Furthermore, students will receive a UK dual award University of the West of England (UWE) degree at Taylor’s University for the BSc. (Hons) Actuarial Studies. Taylor’s University offers a 3-year and a 4-year Actuarial Studies degree programme. The 1-year internship is offered in the third year of the 4-year programme, students have the opportunity to broaden their knowledge and gain industry exposure that will help them excel in their final year of studies.
Best Education Pathway to an Actuarial Science Degree in Malaysia
Wei Zhe, Actuarial Science at Asia Pacific University (APU)
Students after SPM or O-Levels with at least 5 credits including the relevant subjects may enter the Foundation in Business or Foundation in Arts for 1 year before continuing on to the Actuarial Studies degree.
Pre-University graduates in Malaysia from programmes such as UEC, STPM, A-Levels, SAM, CPU, AUSMAT and others may enter directly into the Actuarial Science or Actuarial Studies degree providing they meet the minimum entry requirements.
The pathway to become a professional actuary in Malaysia can be long. One must pass the actuarial professional examinations and various on-the-job assessments, in addition to obtaining a degree. A normal actuarial studies degree spans 3 years. Thereafter, completing the professional exams may take another 3-7 years (considering working full-time while studying). Students should choose the best university in Malaysia for actuarial science to prepare them well to face the professional exams.
Study the Actuarial Science Degree at the Top Ranked Heriot-Watt University Malaysia
Bryan Yap, Foundation in Business (Actuarial Science) at Heriot-Watt University Malaysia
Heriot-Watt University Malaysia Bachelor’s degree mirrors the highly successful BSc Actuarial Science degree offered in the UK, which is accredited by the UK Actuarial Profession. This can significantly reduce the time taken to qualify as a Fellow of the Institute and Faculty of Actuaries (IFoA).
The UK Actuarial Profession has a structure of 26 professional examinations. To become a qualified Actuary (Fellow), you must pass 15 of these professional exams plus relevant work experience. The Actuarial Science degree program at Heriot-Watt University Malaysia will give you 8 paper exemptions from the Core Technical Subjects which are CT1 to CT8.
This means that Heriot-Watt University Malaysia Actuarial Science graduates need to take 7 more of the professional examinations plus relevant work experience to become a qualified Actuary (Fellow) in Malaysia. Which means that this will be the fastest pathway to become an Actuary in Malaysia through Heriot-Watt University Malaysia’s Actuarial Science Degree.
Teaching and Assessment
Teaching is delivered through a combination of lectures, tutorials and project work. Course assessment is generally based on either coursework or an exam at the end of the semester, or a mixture of the two at the end of the semester or academic year.
Accreditation
Good performance in examinations means exemptions from all Core Technical subjects, CT1 to CT8, of the UK Institute and Faculty of Actuaries (IFoA) which can be converted to CS1 and 2, CM1 and 2 and CB1 and 2 under the new system of examinations, giving prospective actuaries an advantage over those in other mathematics programmes.
The degree is accredited by the Royal Statistical Society.
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.
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.
Accreditation & Recognition of the Actuarial Science Degree at Asia Pacific University (APU)
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.
Top Bachelor of Science (Hons) Actuarial Studies UK Dual Award degree programme at Taylor’s University Lakeside Campus
Chew Ling, Accounting & Finance at Taylor’s University
Students wanting a top rated business degree can go for theBachelor of Science (Hons) Actuarial Studies UK Dual Award degree at Taylor’s University. Students will receive a degree from Taylor’s University as well as the top ranked University of the West of England, UK. These are just some of the reasons that Taylor’s University is one of the best universities in Malaysia for you to study the degree in Actuarial Studies.
Actuarial Studies is the extensive study of mathematics, probability, statistics, finance and economics. Offered by Taylor’s Business School (TBS), the programme transforms students into skilled analytical problem solvers who are trained to calculate and manage financial risk for businesses.
Beyond providing a comprehensive programme, Taylor’s University further enrich the educational experience through various learning opportunities to help students get the most out of their studies.
3-Year and 4-Year Bachelor of Science (Hons) Actuarial Studies UK Dual Award degree programme at Taylor’s University in Malaysia
Designed to Suit Different Needs
The Actuarial Studies programme at Taylor’s University offers flexibility and allows students to choose how they wish to maximise their time at Taylor’s Business School. These options include:
A Semester Abroad
Students have the choice to complete a semester abroad in their second year. Credits gained during this semester will be recognised by Taylor’s University.
Short Internship
Offered in the final year of the 3-year programme, students have the opportunity to apply classroom lessons and gain industry experience from top companies.
Long Internship
Offered in the third year of the 4-year programme, students have the opportunity to broaden their knowledge and gain industry exposure that will help them excel in their final year of studies.
Flexible Learning
Students also have the option to transfer to another Taylor’s Business School programme during their course. Credits gained during their enrolment in Actuarial Studies will be credited to their new programme. Students have an option to take electives from other business programmes as well.