BSc (Hons) Actuarial Science

Approval Code R/462/6/0016; 04/2020
Accreditation Code A 11179
Classification BSc (Hons)
Subject Area Actuarial Science
Course Mode Full-time
Course Duration 3 Years
Course Location Kuala Lumpur
Intakes January, May and September

International Degree Pathways



Actuaries are professional deal with the financial impact of risk and uncertainty. They use skills in mathematics, economic, computer science, finance, probability and statistics, and business to assess the likelihood of occurrence of certain risky events formulate policies that minimize the cost of these risks. As such, actuaries are essential to the insurance and reinsurance industry. In addition, they can be consultants to other businesses, including sponsors of pension plans; and to government agencies such as bank Negara Malaysia. The 3-year BSc (Hons) Actuarial Science programme 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 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.


Assessments

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.

Qualification
Academic Requirements
 
UCSI Foundation year
Minimum CGPA 2.0 including Mathematics
 
STPM
Minimum 2 principals (C) (CGPA 2.0) including Mathematics
 
A-levels
Minimum 2 principals (E) including Mathematics
 
UEC
Minimum 5 credits (B6) including Mathematics
 
National Matriculation
Minimum CGPA of 2.0 including Mathematics
 
International Baccalaureate (IB)
Minimum score of 26 points in 6 subjects including Mathematics
 
Canadian Pre-U
Minimum average of 60% including Mathematics
 
SAM
Minimum average of 60% including Mathematics
 
Other qualifications deemed equivalent to STPM/A-Level by Malaysian Qualifications Agency
Minimum overall average of 60% including Mathematics
 
Diploma (Business-related)
Minimum CGPA of 2.0 Including Mathematics
 
Other equivalent qualifications
To be reviewed by the faculty on a case-to-case basis

 

ENTRY REQUIREMENTS FOR FOUNDATION YEAR
Qualification
Academic Requirements
 
SPM
Pass SPM with minimum 5 credits
 
O-Level
Minimum 5 credits (C)
 
UEC
Pass UEC with minimum 3 credits (B6)
 
Other qualifications deemed equivalent to STPM/A-Level by Malaysian Qualifications Agency
Minimum overall average of 50%
 
Other qualifications deemed equivalent to SPM/O-Level by Malaysian Qualifications Agency
Minimum overall average of 60%
 

English Language Requirements

  • A score of Band 5.5 in IELTS or its equivalent as stipulated by the Ministry of Education of Malaysia.
  • Applicants who have studied at least one year in a programme at an Institution of Higher Learning with minimum overall CGPA of 2.00 / average percentage of 50% where English is the medium of instruction. Applicants must produce a verification letter from the Institute of Higher Learning confirming the medium used in the delivery of the programme was in English.
 

Note / Legend:

Discretion is given to the Head of Department to deal with applicants who have results borderline to the Academic Requirements.

SPM Credit – 'A+' to 'C'
O-Level – 'A' to 'C'
UEC Credit – 'A1' to 'B6'
STPM principal – 'A' to 'C'
'A' Levels principal – 'A' to 'E'

Many corporations today have acknowledged the need for financial specialists with the skills to manage risk. Upon completion of this programme, graduates will be furnished with the proper understanding of management know-how and are prepared for the relevant professional examinations. Graduates can seek employment in key industry streams such as:

  • Actuarial Executive
  • Enterprise Risk Analyst
  • Bank Executive
  • Financial Analyst
  • Financial Planning Advisor
  • Entrepreneur
Year 1
  • Calculus and Analytical Geometry
  • Statistics and its Application
  • Business Accounting
  • Risk Management and Insurance
  • Mathematics 1
  • Probability Theory
  • Financial Management 1
  • Microeconomics
  • Managerial Accounting
  • Macroeconomics
  • Elective 1
  • Co-Operative Placement 1
Year 2
  • Mathematics 2
  • Mathematical Statistics
  • Introduction to Stochastic Process
  • Applied Statistical Models
  • Mathematics of Interest Rate
  • Life Contingencies 1
  • Mathematics of Financial Derivatives
  • Visual Basic. Net
  • Loss Models
  • Business Communications
  • Elective 2
  • Co-Operative Placement 2
Year 3
  • Life Contingencies 2
  • Independent Project 1
  • Stochastic Calculus for Insurance and Finance
  • Elective 3
  • Independent Project 2
  • Statistical Methods for Insurance
  • Credibility Theory
  • Statistical Stimulation for Financial Modelling
  • Co-Operative Placement 3
Electives
  • Electives 1 & 2
    • Fundamental of Marketing
    • Fundamentals of Management
    • Introduction to Internet Technologies
    • Accounting Information System
    • Business Modelling with Spreadsheet
    • Business Information System
    • Business Law
    • Corporate Finance
    • Numerical & Computing Method
  • Elective 3
    • Actuarial Practice
    • Investment Portfolio Management
General Courses (MPU) are compulsory for all students.
U1
– For Malaysian students:
  1. Ethnic Relations
  2. Islamic Civilisation and Asian Civilisation
– For foreign students:
  1. Malaysian Studies
  2. Communication in Bahasa Melayu 3

All information is correct at the time of upload and UCSI University reserves the right to make amendments without prior notice.
Society of Actuaries (SOA), USA
  • Obtain all three VEE (Validation by Educational Experience) credits before graduation – the equivalent of core subjects needed to attain a membership.
  • VEE credits may go towards other actuarial qualifications such as from the Casualty Actuarial Society and Canadian Institute of Actuaries.
  • UCSI is one of a few Malaysian private universities recognised as one of SoA’s UCAP (Universities and COLLEGES WITH Actuarial Programmes) schools.
  • UCSI provides the most comprehensive SoA exam coverage in Malaysia.
Institute and Faculty of Actuaries (IFoA), UKd
  • The Institute and Faculty of Actuaries (IFoA), UK has granted an Accreditation by Subject Agreement covering their CM1, CB1 and CB2 modules to UCSI University’s BSc. (Hons) Actuarial Science and BSc. (Hons) Actuarial Science and Finance programmes.
  • Students who have passed the necessary courses with the required marks/grade that are set by IFoA , are eligible to receive these exemptions. These exemptions are effective from the Jan-Apr 2019 semester onwards.
  • UCSI University is the first private institution in Malaysia recognised by IFoA, UK.
Remark: The CT1 exemption obtained previously no longer exists due to the revamping of the examination system of IFoA that took effect from July 2018.


International Degree Pathway (IDP) via BSc (Hons) Actuarial Science

IDP Programme Pathway University Country Fee
BSc Actuarial Science 1 + 2 University of Essex United Kingdom £ 13750

For enquiry, please contact us at geo@ucsiuniversity.edu.my or call us at +603 9101 8880 ext 2066.