Study Actuarial Science in Malaysia- Actuarial Science Fees, Admission
A person who loves Mathematics as well as Statistics and loves difficult courses related to numbers. Well, we have listed information you require to gain knowledge on studying Actuarial Science in Malaysia.
What is Actuarial Science
Through probability, statistics and business knowledge the money related risk calculation is done by Actuarial Science. This is always used in the field of Insurance and Finance to Calculate and manage risk and make budgetary Decisions.
Like the Insurance plan , once always thinks how does the Insurance company make money if you receive the premium more than you have invested in the Insurance plan. Well this is where the work of Actuary falls into. They evaluate the financial impact and learn how likely an event may occur to calculate, they make calculations to be sure the exact total amount of premiums
collected exceeds and the claims for the amount has been made. In the event of something bad happening, that is when the Insurance company is able to make a payment of the claimed Insurance
Duration of Actuarial Science Degree in Malaysia
A Degree Course in Actuarial Science from University in Malaysia is of 3 Years
However, you cannot be called a Qualified Actuary until you study by taking up Professional exams with Professional bodies like the Society of Actuaries or Institute and Faculty of Actuaries (IFoA) which might take 3-7 long years for you to become a qualified Actuary. To accomplish the professional status as an Actuary you will need to clear the Professional studies.
Entry Requirement
To study Actuarial Science in Malaysia you will need the required subject for SPM or equivalent is Mathematics.
For A-Level , STPM or Equivalent the needed subject is of course Mathematics, however, if you have covered advanced Mathematics , Economics and or Physics will help you in the long run.
- A-Level: Minimum of 2Es including Mathematics
- STPM: Minimum of 2Cs including Mathematics
- Australian Matriculation: Minimum of ATAR 60 with an average of 60% in Mathematics
- Foundation in Arts or Science: Minimum CGPA of 2.00
- Diploma: Minimum CGPA 2.00
In addition to the above requirement, you will also need a minimum of 5c’s in SPM including Mathematics to study Actuarial Science Degree from Malaysian University. Few Universities may also require you to score well in English Proficiency tests such as IELTS.
The Entry requirement for Actuarial Science in Malaysia differs from University to University hence, it is recommended to do your research before you apply in Malaysian Universities.
Career
Job opportunity once you complete the Professional Exam in Actuarial Science in Malaysia
Once you are a Graduate in Actuarial Studies from University in Malaysia and also have cleared the Professional Exams as given above you can work as an Actuary with different careers
- Risk Analyst
- Insurance Actuarial Analyst
- Actuarial Consultant
- Business Analyst
- Investment Analyst
- Underwriter
- Data Scientist
