Best Private Universities in Malaysia Offering the Best Actuarial Science Degree Programmes
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The path to becoming an actuary in Malaysia for students after high school involves going through a structured education plan. First, students will obtain university-level education and then post-university examinations, as well as other requirements. One must pass the actuarial professional examinations and various on-the-job assessments. 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.
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The Best Universities in Malaysia to Study Actuarial Science
Heriot-Watt’s Statistics & Operational Research course (Actuarial Mathematics and Statistics) was placed the world’s top 200. The best university in Malaysia for Actuarial Science would be Heriot-Watt University Malaysia where students can get 8-paper exemptions out of 15 needed to qualify as a Fellow at the Institute and Faculty of Actuaries (FIA), UK. This degree is one of only a few to be accredited by the UK actuarial profession. Good performance means exemptions from professional examinations (CT1-CT8), giving prospective actuaries an advantage over those on other mathematics programmes.
Graduates who go on to qualify as actuaries with the Society of Actuaries in North America can get credit from some of the SOA examinations on the basis of exemptions from the IfoA examinations.
Heriot-Watt University is recognised as a Center of Actuarial Excellence by the Society of Actuaries (SOA), North America. Heriot-Watt University is the only Center of Actuarial Excellence in Europe and one of only 30 other schools worldwide with this designation. With roots dating back to 1889, the Society of Actuaries (SOA) is the world’s largest actuarial professional organization with more than 28,000 actuaries as members.
The Actuarial Science degree programme at Heriot-Watt University Malaysia also provides a good foundation for the later Core Technical subjects. By obtaining the full set of exemptions available during your degree, you could considerably reduce the time it takes you to qualify as an actuary.
In addition, students will receive a dual award University of the West of England, UK 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 at Taylor’s University 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.
UCSI University is one of the pioneers for actuarial science in Malaysia and offers a top rated actuarial science degree that’s affordable.
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.
Top Ranked UK Degree in Actuarial Science at the Heriot-Watt University Malaysia
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. This will be the fastest pathway to become an Actuary in Malaysia.
Actuaries manage risk and uncertainty and evaluate the likely impact of future events. Heriot-Watt’s Actuarial Science
programme is world-famous for its excellence. It contains all the courses that are essential for ensuring a flying start to a career as an actuary whilst at the same time fostering highly transferable mathematical skills.
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.
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, something only a handful of programmes in the UK have achieved.
Students who obtain a first class or good upper second class (2:1) Honours degree automatically obtain exemptions from the CT1-8 subjects for which they have studied relevant material in their degree. In addition, exemptions are still available on an individual subject basis
It is expected that the Actuarial Science programme in Malaysia will also offer exemptions from all Core Technical subjects, CT1 to CT8, for students performing sufficiently well. This can significantly reduce the time taken to qualify as a Fellow of the Institute and Faculty of Actuaries.
Accreditation of the Actuarial Science Programme at Heriot-Watt University Malaysia
In accordance with Heriot-Watt University’s normal practice, their professionally orientated programmes are designed to meet the educational requirements for membership of relevant professional institutions.
In addition to recognition within Malaysia, the university seeks accreditation by the relevant UK or international professional bodies in accordance with their standard procedures.
This Bachelor’s degree mirrors the highly successful BSc Actuarial Science degree offered in the UK, which is accredited by the UK Actuarial Profession. It is expected that the programme in Malaysia will also offer exemptions from all Core Technical subjects, CT1 to CT8, for students performing sufficiently well.
This can significantly reduce the time taken to qualify as a Fellow of the Institute and Faculty of Actuaries.
Students interested in registering at Heriot-Watt University Malaysia, please go to this link. For information on hostel accommodation at Heriot-Watt University Malaysia, go to this link. Scholarships are available to deserving Malaysian students who have achieved high results in their SPM, STPM, A-Levels or UEC examinations.
Best Actuarial Science Degree Course in Malaysia at Award Winning Asia Pacific University (APU)
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.
After completing the Foundation in Business & Management, 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)
Asia Pacific University’s BSc (Hons) in Actuarial Studies is a 3 years degree programme of full-time study. The actuarial studies degree programme at APU 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.
The Best Actuarial Science Degree Programme at UCSI University
The 3-year BSc (Hons) Actuarial Science programme at UCSI University 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.
Students at UCSI University will be furnished with the essential leadership qualities, communication skills, problem-solving abilities, critical thinking, as well as entrepreneurial and managerial skills that will enable them to face the challenging yet exciting world, where risks can be turned into opportunities.
Students after SPM or O-Levels will need at least 5 credits including Maths to enter the Foundation in Arts at UCSI University for one year before continuing on to the Actuarial Science degree course. Scholarships are available to deserving students for the Foundation and degree programmes at top ranked UCSI University. Students interested to join UCSI University may apply online to register.
The assessment includes a combination of examinations, projects and assignments, and finally a requirement to complete a dissertation in Independent Project in the final year. Students will acquire up-to-date vocational skills that are relevant and competitive. This reflects the complex and challenging nature of the accounting, finance and business realms.
As testament to UCSI University’s efforts, they have students who passed three to five preliminary exams during their degree studies when they were still in their second year. This is a remarkable feat.
Top Bachelor of Science (Hons) Actuarial Studies UK Dual Award degree programme at Taylor’s University Lakeside Campus
Students wanting a top rated business degree can go for the Bachelor 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.
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.
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.
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.