Dual Degree Award: Asia Pacific University, Malaysia and Staffordshire University, UK
This programme is specifically designed to provide:
- Graduates with high quality education in actuarial science in order to prepare them for professional exams leading to recognised actuary status or specialist in the financial risk and insurance industries
- Graduates the ability to analyze data from an application in a business context, determine a suitable model including parameter values, and provide measures of confidence for decisions based upon the model.
- Graduates with comprehensive knowledge in actuarial science in order to prepare them to pursue a successful career as an actuary.
- Principal Passes at STPM level and with 4 Credit Passes at SPM including Mathematics; or
- 2 Passes with at ‘A’ Levels and with a Credit Pass at ‘O’ Levels / GCSE including Mathematics; or
- The APIIT/APU Foundation or equivalent with CGPA of 2.0 and Credit in Mathematics at SPM/O-Level; or
- 5 Grade B's in UEC including Mathematics; or
- Canadian Pre-University (CPU) with minimum average of 50%; or
- Australian Matriculation (AUSMAT) with minimum average of 60%; or
- South Australian Matriculation Certificate (SAM) with minimum of 60%; or
- International Baccalaureate with minimum 24 marks;
- Victorian Certificate of Education with minimum average of 50%;
- Ontario Secondary School Diploma with minimum average of 50%; or
- A qualification that APU accepts as equivalent to the above.
- Students must possess a minimum score of 6.0 in IELTS or 550 in TOEFL to join this programme.
APU BSc (Hons) in Actuarial Studies is a 3 years degree programme of full-time study. This programme 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
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), Casualty Actuarial Society (CAS), Canadian Institute of Actuaries (CIA) and upon graduation, they can embark on careers as an actuarial assistant. In APU, 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. 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.
Our B.Sc (Hons) in Actuarial Studies programme is also approved to prepare students for the following SOA actuarial exams. You can read more about this at https://www.soa.org/Institutions/Asia-Pacific-University-of-Technology-Innovation.aspx
- Exam P - Probability
- Exam FM - Financial Mathematics
- Exam MFE - Models for Financial Economics
- Exam MLC - Models for Life Contingencies
- Exam C - Construction and Evaluation of Actuarial Models
Our 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. They also work for:
- Colleges and Universities
- Public accounting firms
- Statisticians & Mathematicians
- Employee benefits of large companies
- With many emerging new risks, the list is endless
Degree Course Structure:
This level comprises modules from the areas of finance, economics and mathematics.
The objective of the first year is to equip students with the basic tools of mathematics, financial accounting, and economic analysis which will be required for the modules to follow at the next level.
Linear Algebra, Calculus, Discrete Mathematics, Statistics, Probability Models and Advanced Probability Models are designed to prepare students for using mathematics and statistics in other contexts.
Microeconomics will provide students with a better understanding of the business environment. Financial Accounting skills and the core principles underlying financial theory will be introduced in this level which will be enhanced in the higher level. Business and Communication Skills will further equip students with the communication skills required to cope with academic demands of degree level study in all disciplines.
- Probability Models
- Linear Algebra
- Business and Communication Skills
- Financial Accounting
- Discrete Mathematics
- Introduction to Visual Programming
- Advanced Probability Models
In addition to the above, all students are also required to successfully complete General Studies modules as stipulated by the Malaysian Qualification Agency, as well as fulfill credit requirements for Co-Curricular Activities
This level looks at applications of mathematics and statistics in the financial & insurance sectors. The modules offered will cover techniques for the analysis of results from experiments and surveys where students will be doing modules like Regression Analysis, Time Series & Forecasting, Life Contingencies as well as Linear Programming.
Modules such as Financial Mathematics, Financial Planning & Control, Financial Statement Analysis and Financial management will allow students to explore finance in greater depths, both at the planning and management aspect. The Financial Economics module will introduce students to the necessary skills to construct asset liability models and to value financial derivatives whereas Life Contingencies module will provide students with a strong grounding in the mathematical techniques which can be used to model and value cashflows dependent on death, survival, or other uncertain risks.
Business Ethics and Governance will also be taught in this level to provide students with relevant knowledge, skills and professional judgment in which companies are directed and controlled.
At this level, all students are introduced to the Business Research Methods which exposes them to how to write research proposals and conduct research.
- Linear Programming
- Financial Statement Analysis
- Time Series & Forecasting
- Financial Mathematics
- Calculus II
- Regression Analysis
- Financial Economics
- Financial Planning and Control
- Business Research Methods
- Financial Management
- Business Ethics & Governance
- Life Contingencies
At APU, we encourage our students to be entrepreneurial and innovative. After the completion of Level 2, students will undertake a short internship/industrial training of a minimum of 12 weeks. This will provide our students opportunities to engage with realworld business problems both in our programmes and in our renowned Professional Training placements.
Corporate Finance, Risk Theory, Financial Derivatives, Macroeconomics Policy & Financial Markets, and Portfolio Management modules will further enhance the knowledge of an individual to plan, manage, and analyze the financial and monetary aspects and performance of business enterprises, banking institutions or other organisations.
Insurance Practice and Survival Analysis modules introduce students to a wide range of concepts and terminologies in insurance providing students with basic skills of calculating various insurance related items. Introduction to Stochastic Process will introduce students to a range of stochastic process which are used as modeling tools in diverse fields of applications.
Life contingencies 2 is introduced in this level where students will learn how to calculate various types of insurance contracts contingent upon two lives, profit testing and pension plans.
All students at Level 3 will have to undertake an investigation module and project related to investment, financial, commerce or insurance.
- Introduction to Stochastic Process
- Financial Derivatives
- Corporate Finance
- Risk Theory
- Investigation in Actuarial Studies
- Macroeconomics Policy & Financial Markets
- Portfolio Management
- Survival Analysis
- Life Contingencies 2
- Insurance Practice
- Project in Actuarial Studies
With highly specialized skills primarily for the Insurance industry, but also extending to other sectors, graduates may work as Actuarial Executives, Risk Analysts, Consultants, Statisticians, Mathematicians, Insurance Industry Specialists in Life and Health Insurance or Property and Casualty Insurance, Credit Manager, Policy Makers, Bank Executives, Financial Analysts, Financial Planning Advisors or even as Administrator and Entrepreneurs.