Asia Pacific University of Technology & Innovation (APU)

Bachelor of Science (Honours) in Actuarial Studies

Program outline

This program is specifically designed to provide students with:

• A course of study in Actuarial Science has been awarded full accreditation from the IFoA (UK).
• Competent teaching staff with a professional or specialized academic qualification, possessing working experience from actuarial industries/academia.
• The course syllabus is comprehensively structured in tandem and compliance with the 2 biggest actuarial bodies, the IFoA (UK) and the SOA (US).
• Comprehensive guidance to mold graduates to be industry-ready.

Degree level 1

Equipping students with essential fundamentals of Mathematics, Statistics, Economics, and Finance start at Level 1. To complement the core knowledge, the students will also learn Business, Communication, and IT skills, before progressing to the Level 2 of Actuarial Science study.

Common modules

• Probability Models
• Linear Algebra
• Business and Communication Skills
• Calculus
• Calculus II
• Financial Accounting
• Microeconomics
• Macroeconomics
• Introduction to R Programming
• Statistics

Degree level 2

The core knowledge of Mathematics and Statistics now acts as an engine to drive the complex models of Economics and Finance in the actuarial industries. Those core knowledge are integrated to form actuarial tools and infrastructure, ready to be used for planning and managing purposes. Students will receive exposure and coaching which are actuarial-centric, targeting industrial applications. They are gradually groomed to be more independent in their study and research efforts.

Common modules

• Advanced Probability Models
• Financial Statement Analysis
• Predictive Analytics
• Financial Mathematics
• Regression Analysis
• Financial Economics
• Financial Planning and Control
• Business Research Methods
• Financial Management
• Business Ethics & Governance
• Mathematics of Financial Derivatives
• Stochastic Processes

Internship (16 weeks)

Students will undertake a short Internship/ Industrial Training for a minimum period of 16 weeks to prepare them for a smooth transition from the classroom to the working environment.

Degree level 3

The students are now ready to merge their knowledge and industrial experience to forge ahead and put into action their acquired skills in planning, managing, and analyzing risk. At this level, emphasis is placed on evaluating the financial performance of businesses from an actuary’s perspective. Students will have the opportunity to understand the critical roles played by actuaries, for example, in the development and pricing of insurance products. Risk Management, Actuarial Modeling, and Ratemaking are some of a wide repertoire of skills to be used.

Common modules

• Asset and Liability Valuations
• Life Contingencies
• Strategic Management
• Corporate Finance
• Risk Theory
• Investigation in Actuarial Studies
• Option and Bond Valuations
• Survival Analysis
• Life Contingencies 2
• Pension and Retirement Plans
• Project in Actuarial Studies

MQA compulsory subjects*

• Ethnic Relations (M’sian Students)
• Islamic & Asian Civilisation (M’sian Students)
• Malaysian Studies (Int’l Students)
• Malay Communication Language (Int’l Students)
• Workplace Professional Communication Skills
• Employee & Employment Trends
• Co-Curriculum

(*All students are required to successfully complete these modules as stipulated by the Malaysian Qualification Agency.)

Career options

• Actuary
• Risk Analyst
• Financial Analyst
• Financial Planning Advisor
• Regulator
• Statistician
• Mathematician
• Professor

Professional recognitions

APU’s Bachelor of Science (Honours) in Actuarial Studies is a 3-year degree program of full-time study. This program is to develop students’ mathematical, statistical, and analytical skills in addition to actuarial practices as preparation to become qualified actuary.

Actuaries are highly regarded professionals and they work across several industries including life and general insurance, commercial and investment banking, pensions and healthcare, consulting firms, and the public sector. Actuaries are problem solvers and strategic thinkers with a deep understanding of risk management; they are one of the top-paying professionals as they are usually in high demand worldwide.

Institute and Faculty of Actuaries (IFoA), UK

APU - Among Top 4 in Asia to obtain Full Accreditation by IFoA

APU's BSc (Hons) Actuarial Studies is Fully Accredited by the Institute and Faculty of Actuaries (UK).

Our graduates who perform to the required standard can be eligible for Block Exemption from CS1, CS2, CM1, CM2, CB1, and CB2 in the new IFoA curriculum.

IFoA Foundation Scholarship

APU is one of a few IFOA’s partner universities in Asia to secure major IFOA scholarships for its students pursuing actuarial studies. Every year, the top five graduates will receive the Foundation’s Scholarships (worth £4490) awarded by the IFOA. In addition, the best among the five will also receive the Sir Edward Johnston Prize (worth £250) awarded by the IFOA. Click HERE to read more information.

Society of Actuaries (SOA), USA

APU is also recognized by the Society of Actuaries (US) that our BSc (Hons) Actuarial Studies will prepare students for all the six preliminary exams (P, FM, IFM, LTAM, STAM, and SRM) in the new SOA curriculum. This is in addition to the approved coursework for all the three VEE topics (Accounting & Finance, Economics, and Mathematical Statistics).