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Course Overview

Actuarial science applies mathematics, statistics and financial theory to assess financial risks associated with uncertain future events. It is commonly used in areas such as life assurance, property and casualty insurance, pension plans and employee benefit programmes.

The Bachelor of Science (Honours) Actuarial Science is designed to address the changing needs of the insurance, investment and financial services industries. Its syllabus is aligned with selected professional actuarial examination requirements and includes approved Validation by Educational Experience subjects in economics, accounting and finance, and mathematical statistics.

The programme covers the topics assessed in the Casualty Actuarial Society and Society of Actuaries Probability and Financial Mathematics examinations. It also includes substantial coverage of topics for the Society of Actuaries Fundamentals of Actuarial Mathematics and Statistics for Risk Modelling examinations, including contingent payment models, claims models, linear and generalised linear models, principal component analysis and cluster analysis.

Achievement

Professional Recognition

• Society of Actuaries (SOA)
• Institute and Faculty of Actuaries (IFoA)

Eligible students who achieve the required marks may receive IFoA exemptions for CS1 (Actuarial Statistics), CB1 (Business Finance), CB2 (Business Economics) and CM1 (Actuarial Mathematics).

The programme also includes subjects approved for Validation by Educational Experience credit in economics, accounting and finance, and mathematical statistics.

Entry Requirements

• UTAR Foundation Programme
• STPM: Grade C/C+ in 2 relevant subjects depending on the programs (except M.B.B.S. and Quantity Surveying)
• A-Level: Grade D in 2 or 3 relevant subjects
• UEC: Grade B in 5 relevant subjects
• SAM: ATAR 70 and Grade B in at least 2 relevant subjects
• CPU: An average of 70% in 6 relevant subjects (depending on programs)
• Matriculation Certificate, Ministry of Education
• Foundation/Diploma in the relevant fields
• Other recognized equivalent qualifications

Career Prospects

• Actuarial Analyst
• Pricing Analyst
• Tax Analyst
• Portfolio Manager
• Business Development Manager

Study Abroad Pathway

No