The study of Actuarial Science involved risk calculation through mathematics, probabilities and statistics. It is common for insurance and finance companies to evaluate and manage the risk in order to ensure financially stable now and in the near future. The field of Actuarial Science is considered as newly industry in Malaysia, thus, the majority of the people do not fully understand the professional field of actuarial science.
Studying actuarial science will help you to enhance your mathematical, statistical and analytical skills. You will be calculate how likely an event will occur and measure the financial impact, it is important for actuaries to have the right tools and knowledge to calculate all these complex mathematics.
After finishing your degree, you are able to pursue to becoming a professional actuary and you are required to pass a set of exams through these professional actuarial organizations:
- Institute of Actuaries of Australia
- Canadian Institute of Actuaries, Canada
- Society of Actuaries (SOA), USA
- Institute and Faculty of Actuaries (IFoA), UK
- Casualty Actuarial Society (CAS), USA
What skills do you need to study Actuarial Science?
Excel at Mathematics and Calculation
Actuaries must be sensitive towards numbers, able to do basic arithmetic quickly and correctly. Actuarial science contains statistics, calculus, and probability, which is a definite requirement for being an actuary in order to calculate the risk and determine the probable likelihood of certain events.
Analytical Problem Solving Skills
Actuaries are tasked to deal with complex data and study the patterns, and trends in order to understand the driving factors that directly cause a specific outcome, therefore, being able to be an analytical problem solver is crucial for an actuary.
Interested in Programming
In the information age, actuaries will need to analyze and evaluate large amounts of data with the help of computers and a variety of statistical modeling software. You will need to understand the basic computer skills and knowledge of programming which is essential to become an actuary in the future.
Subjects of Actuarial Science
- Corporate Finance
- Risk Theory
- Probability Theory
- Calculus
- Mathematical Statistic
- Simulation and Credibility Finance
- Corporate Finance
- Project
General Qualifications
| Programmes | Requirements |
| Bachelor’s Degree (3-Years) |
|
Career Options for Actuarial Science
- Actuarial Executive
- Enterprise Risk Analyst
- Bank Executive
- Financial Analyst/Budget Analyst
- Financial Planning Advisor
- Entrepreneur
- Auditors
- Economist
- Statistician
- Forensic Accountant
- Chartered Accountant
1. Heriot-Watt University
Campus: Putrajaya, Wilayah Persekutuan Putrajaya
BSc (Hons) Actuarial Science
General Intake: September
Indicative fee of 3-years (Full-time) (2019): RM131,760
2. Sunway University
Campus: Bandar Sunway, Petaling Jaya
BSc (Hons) in Actuarial Studies
General Intake: January, March & August
Indicative fee of 3-years (Full-time) (2019): RM90,500
3. Taylor’s University
Campus: Subang Jaya, Selangor
Bachelor of Science (Hons) Actuarial Studies
General Intake: March & August
Indicative fee of 3-years (Full-time) (2019): RM83,400
4. Asia Pacific University (APU)
Campus: Taman Teknologi Malaysia, Kuala Lumpur
Bachelor of Science (Hons) in Actuarial Science
General Intake: September & November
Indicative fee of 3-years (Full-time) (2019): RM76,600
5. UCSI University
Campus: Taman Connaught, Kuala Lumpur
BSc (Hons) Actuarial Science
General Intake: January, May & September
Indicative fee of 3-years (Full-time) (2019): RM59,480
International Student enquiries:
Phone: +60182414802
Email: info.my@exceleducation.com.au
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About Post Author
Nicky Yap
I am a freelance commercial content writer and student of SEGI College studying Bachelor of Business with a major in Marketing. I love to travel and enjoy ‘Me’ time with a cup of coffee in a quiet cafe.
