Actuarial Science Degree at Top Rank Asia Pacific University (APU) Malaysia

Study the Bachelor of Science (Hons) Actuarial Studies Degree Course at the Best University in Malaysia at Asia Pacific University (APU)

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Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. It includes a number of interrelating subjects, including probability, mathematics, statistics, finance, economics, and computer programming. Historically, actuarial science used deterministic models in the construction of tables and premiums.

Actuarial Science is gaining popularity in Malaysia for students who are good in Maths to pursue. This pathway leads to an excellent career with high salary should one complete all the professional papers to become a professional actuaries in Malaysia.

Students after SPM or O-Levels may go for the Foundation in Business 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.

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.

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Actuarial Science Degree Programme at Asia Pacific University (APU) in Malaysia

Asia Pacific University (APU) is a top ranked university in Malaysia with its new campus at Technology Park Malaysia. An impressive 95% of APU's graduates obtain jobs before graduation

Asia Pacific University (APU) is a top ranked university in Malaysia with its new campus at Technology Park Malaysia. An impressive 95% of APU’s graduates obtain jobs before graduation

Actuaries build and use mathematical models based on statistical data to calculate the appropriate amount of premiums to charge policyholders. This will require projections of how events will unfold in the future. In calculating the right amount of premiums, the actuary will need to project how large potential claims will be and when they will occur.

Such projections are incorporated into the models to calculate the premium required. At the same time, judgement, business acumen and experience are required to understand and logically interpret the results of the model before finally coming up with a solution to the problem. Actuarial science is a combination of science and art!

Calculation of premiums is only one of the many contributions of actuaries to insurance companies.

In addition to pricing decisions, actuaries are involved in designing insurance products, formulating investment strategies,

Lecturers at Asia Pacific University are highly experienced and qualified

Lecturers at Asia Pacific University are highly experienced and qualified

determining reserves to be set up to meet future claims and recommending distribution of profits to shareholders after taking into account the insurance company’s future obligation to policyholders.

Actuaries also estimate the amount of future claims by analysing past data or experience to assign probabilities to events such as death, sickness, disability, loss of property or even loss of business profits.

Actuaries provide solutions to today’s insurance and financial problems that properly take into account the financial impact of future events. With the actuaries’ expert knowledge in financial matters, they are often key advisors to the Board of Directors.

There are only a few universities in Malaysia offering the degree in Actuarial Science. It is important for students not only to obtain the best actuarial science education but to get the necessary communication skills in English to succeed.

As you will work in multinational companies, banks, financial institutions, insurance, etc., you will need to have a strong command of the English language to succeed in your job.

One university that students can consider is Asia Pacific University, famous for IT courses and excellent for accounting and business as well. With an international environment and exposure to students from over 90 countries, students can improve their communication skills and build a global network.

Students need to choose the best university or college in Malaysia to study Actuarial Science so that they can gain the necessary knowledge and skills to succeed in the competitive world of actuaries. 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 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.

What you will study in the Bachelor of Science (Hons) in Actuarial Studies 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 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.

In APU, 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.

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.

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.

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

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)

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

An excellent study environment at Asia Pacific University (APU)

An excellent study environment 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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