Where to Study Actuarial Science in Malaysia?
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 reputable private university in Malaysia can enhance your ability to perform well on the rigorous demands of the actuarial professional exams and requirements.
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, IGCSE/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.
In addition, exemptions from the professional papers will allow you to become a Fellow 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.
You might also be interested to read:
- 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
Why Study at Top Private Universities in Malaysia for Actuarial Science?
Min En, Actuarial Science, Heriot-Watt University Malaysia
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. The years of experience garnered in offering the Actuarial programme gives you an advantage in preparing for the professional papers during your degree studies as well as networking opportunities within the industry. Furthermore, a degree earned at a reputable university in Malaysia makes seeking employment much easier whether locally or globally.
Having exemptions from the professional bodies such as IFoA is advantageous as it allows you to complete the professional papers quicker. Only a few private universities in Malaysia have the full exemptions from IFoA. There are no special exemptions from the SOA for the Actuarial Science degree. All degree holders are exempted from the VEE papers in SOA.
An undergraduate degree in actuarial science will provide you with a solid foundation level of knowledge in the areas of finance and probabilities, before exploring the more complex ideas and concepts.
Actuarial Science is a very comprehensive course in the way that it covers Mathematics, Finance, Economics, Accounting, Business Models, Computer Programming and Risk Management. As such, a high aptitude in Mathematics is highly required. With this fundamental Mathematical knowledge graduates will be able to solve complex actuarial problems.
Actuarial science includes a number of interrelated subjects, including mathematics, probability theory, statistics, finance, economics, and computer science. Historically, actuarial science used deterministic models in the construction of tables and premiums. The science has gone through revolutionary changes during the last 30 years due to the proliferation of high speed computers and the union of stochastic actuarial models with modern financial theory.
What is the Education Pathway to an Actuarial Science Degree in Malaysia?
Wei Zhe, Actuarial Science at Asia Pacific University (APU)
Students after SPM or IGCSE/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, 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.
After completing your degree, you can continue on to two of the more popular professional papers in Malaysia which are the Society of Actuaries (SoA) USA and the Institute and Faculty of Actuaries (IFoA) (UK).
Malaysian insurance regulator, Bank Negara Malaysia and the Actuarial Society of Malaysia (ASM) recognize Fellows from SOA and IFoA as qualified actuaries in Malaysia.
Where is Best to Study Actuarial Science?
Chun Tim, Foundation in Business into Actuarial Science, Taylor’s University
The Actuarial Science degree programme has a heavy mathematical and statistical component. The path to becoming an actuary in Malaysia involves going through a well-structured education plan. This involves university-level education and Professional exams, as well as other requirements. The first step after SPM or IGCSE/O-Levels, students will need to consider a private university in Malaysia that has a solid Actuarial Science degree programme that will help you prepare well for the professional papers.
Students should have excellent overall results including Maths in order to tackle the academic rigours of the actuarial science programme.
The 3-year actuarial science degree programme at a top university in Malaysia provides a solid grounding in mathematics, accounting, finance and statistic to integrate theories with actual experience and build a foundation for students to pursuit professional career in the financial risk management industry.
After completing your degree, you can continue on to two of the more popular professional papers in Malaysia which are 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)
- University of Southampton Malaysia (UoSM)
- Taylor’s University.
- UCSI University
Please contact us to see which university would be the best fit for you.