BACHELOR OF ACTUARIAL SCIENCE

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BACHELOR OF ACTUARIAL SCIENCE


Programme Overview

Bachelor of Actuarial Science in Universiti Malaya is a four years program design to prepare both, the industrial demand as well as the professional expert in the actuarial field. The program covers a wide range of areas including economics, finance, mathematics, statistics and risk modelling. The program also prepares the students with tools to kick start research that is inevitable in current world for the benefit of the wide society.


Duration: 4 Years (8 Semester), Full Time (Coursework)

Programme Structure

  1. English Courses (subject to MUET bands)
  2. Philosophy and Current Issues / Malay Language Communication*
  3. Basic Entrepreneurs Culture
  4. Basic Mathematics
  5. Calculus I
  6. Statistics
  7. Elective Courses: Student Holistic Empowerment (SHE): SHE Cluster 2 - Emotional & Spiritual Intelligence: Heart & Soul
    • Integrity and Anti-Corruption
  8. English Courses (subject to MUET bands)
  9. Appreciation of Ethics and Civilizations
  10. Co-Curriculum
  11. Introduction to Accounting
  12. Calculus II
  13. Probability and Statistics I
  14. Science, Technology and Society
  1. Structured Programming
  2. Microeconomics
  3. Financial Mathematics and Derivative
  4. Probability and Statistics II
  5. Foundations of Data Science
  6. Elective Courses: Student Holistic Empowerment (SHE): SHE Cluster 1 - Thinking Matters: Mind & Intellect
  7. Advanced Calculus
  8. Linear Algebra
  9. Appreciation of Mathematics
  10. Microeconomics
  11. Elective Courses: Elective Course 1
  12. Elective Courses: Elective Course 2
  1. Actuarial Mathematics I
  2. Portfolio Theory and Asset Models
  3. Life Insurance and Takaful
  4. Elective Courses: Elective Course 3
  5. Elective Courses: Elective Course 4
  6. Actuarial Mathematics II
  7. Mathematics of Financial Derivatives
  8. Risk Theory
  9. Elective Courses: Student Holistic Empowerment (SHE): SHE Cluster 3 - Technology / Artificial Intelligence and Data Analytics: i-Technie
  10. Elective Courses: Student Holistic Empowerment (SHE): SHE Cluster 4 - Global Issue and Community Sustainability: Making the World a Better Place
  11. Elective Courses: Elective Course 5
  • Elective Courses: Student Holistic Empowerment (SHE): SHE Cluster 3 - Technology / Artificial Intelligence and Data Analytics: i-Technie
  1. Industrial Training
  2. Elective Courses: Elective Course 6
  3. Elective Courses: Elective Course 7
  4. Elective Courses: Elective Course 8
  5. Elective Courses: Elective Course 9
  6. Elective Courses: Elective Course 10
  • Elective Courses: Student Holistic Empowerment (SHE): SHE Cluster 4 - Global Issue and Community Sustainability: Making the World a Better Place
  • Industrial Training in Biotechnology

SPECIAL SEMESTER

  1. Industrial Training in Biotechnology

Note:

*Only for international students.


ELECTIVE COURSES 


  1. Thinking Matters: Mind and Intellect
  2. Emotional, Physical and Spiritual Intelligence: Heart, Body and Soul
  3. Technology/Artificial Intelligence and Data Analytics: I-techie
  4. Global Issues and Community Sustainability: Making the World a Better Place

ELECTIVE COURSES 


  1. Fundamentals of Computing
  2. Fundamentals of Spreadsheets
  3. Ordinary Differential Equations
  4. Numerical Computation
  5. Basic Operations Research
  6. Mathematical Science Project
  7. Foundation of Islamic Finance
  8. Pension Mathematics
  9. Survival Models
  10. Business Finance
  11. Financial and Business
  12. Financial and Business Management
  13. Stochastic Models
  14. Further Mathematical Statistics
  15. Regression Analysis
  16. Stochastic Processes
  17. Computer Intensive Methods in Statistics
  18. Applied Stochastic Processes
  19. Time Series and Forecasting Methods
  20. Introduction to Multivariate Analysis
  21. Generalized Linear Models

Career Prospects

Actuary, Risk Analyst, Insurance Underwriter, Pension Consultant, Investment Analyst, Data Analyst, Financial Risk Manager, Actuarial Consultant, Insurance Broker, Risk Manager, Pricing Analyst, Claims Analyst, Quantitative Analyst, Corporate Finance Analyst, Reinsurance Analyst.

Tuition Fee

Local

RM 70,100

(Note: This fee is not applicable for UPU applicant)

International

RM 78,400

(Note: Not inclusive of 6% Sales and Service Tax (SST))

Intake

Semester 1 (October) Intake 

Semester 2 (March) Intake

Note: Subject to the availability of the programme offering.

Entry Requirement

STPM (Science Stream)
  • Malaysian citizen
  • Obtain a minimum CGPA of 3.50
  • Obtained at least a Grade B- in ONE (1) of the following subjects at STPM level: Mathematics / Additional Mathematics
  • Obtain at least a Grade B- in any ONE (1) of the following subjects at STPM level: Biology / Physics / Chemistry
Matriculation / Foundation (Science Stream)
  • Malaysian citizen
  • Obtain a minimum CGPA of 3.50
  • Obtain at least a Grade B- in the following subjects at Matriculation/Foundation level: Mathematics
  • Obtain at least a Grade B- in any ONE (1) of the following subjects at Matriculation/Foundation level: Biology / Physics / Chemistry
STAM
  • Not Offered
Diploma / Equivalent (science stream)
  • Malaysian citizen
  • Possess a Diploma from a Public University (IPTA) / ILKA / Polytechnic /IPTS or other qualifications recognized by the Government of Malaysia and approved by the Senate of the University Malaya, with a minimum CGPA of 3.50.
  • Obtain a minimum of grade B- in Mathematics / Equivalent Subjects 
  • Obtain a minimum of grade B- in any ONE (1) other subject that has not yet been taken
UM (SATU) Foundations
  • Malaysian citizen
  • Obtain a minimum CGPA of 3.50
  • Obtain at least a Grade B- in the following subjects at UM SATU Foundation level: Mathematics
  • Obtain at least a Grade B- in any ONE (1) of the following subjects at UM SATU Foundation level: Biology / Physics / Chemistry
GCE A-Level
  • Malaysian citizen
  • Obtain a recognized GCE A-Level qualification
  • Obtain at least a Grade B in the following subjects at GCE A-level: Mathematics / Further Mathematics
  • Obtain at least a Grade B in any ONE (1) of the following subjects at GCE A-level: Biology / Physics / Chemistry
International Baccalaureate (IB)
  • Malaysian citizen
  • Obtain a minimum score of 34 points
  • Obtain at least Grade 6 (HL) in subject Mathematics / Further Mathematics
  • Obtain at least Grade 5 (HL) / 6 (SL) in any ONE (1) of the following subjects: Biology / Physics / Chemistry
AUSMAT
  • Malaysian citizen
  • Obtain a minimum score of 85 in the Australian Tertiary Admissions Rank (ATAR).
  • Obtained at least a Grade B in the following subjects at AUSMAT level: Mathematics
  • Obtain at least a Grade B in any ONE (1) of the following subjects at AUSMAT level: Biology / Physics / Chemistry
STPM (not from the current year)
  • Malaysian citizen
  • Obtain a minimum CGPA of 3.50
  • Obtain at least a Grade B in ONE (1) of the following subjects at STPM level: Mathematics  / Additional Mathematics 
  • Obtain at least a Grade B- in any ONE (1) of the following subjects at STPM level: Biology / Physics / Chemistry
Matriculation/Foundation (not from the current year)
  • Malaysian citizen
  • Obtain a minimum CGPA of 3.50
  • Obtain at least a Grade B- in the following subjects at Matriculation/ Foundation level: Mathematics
  • Obtain at least a Grade B- in any ONE (1) of the following subjects at Matriculation / Foundation level: Biology / Physics / Chemistry
Senior High School Certificate
  • Pass with a minimum average of 75%
  • Obtain a minimum of 60%/grade B- in Mathematics
  • Obtain a minimum of 60%/grade B- in any ONE (1) of the following subjects: Biology / Physics / Chemistry
Matriculations/Foundations
  • Obtain a minimum CGPA of 3.50 from a recognized institution approved by UM Senate
  • Obtain a minimum of grade B- in Mathematics
  • Obtain a minimum of grade B- in any ONE (1) of the following subjects: Biology / Physics / Chemistry
Diploma
  • Obtain a minimum CGPA of 3.50 from a recognized institution approved by UM Senate
  • Obtain a minimum of grade B- in Mathematics
  • Obtain a minimum of grade B- in any ONE (1) other subject that has not yet been taken
GCE A-Level
  • Obtain a recognized GCE A-Level qualification
  • Obtain a minimum of grade B in Mathematics/Further Mathematics
  • Obtain a minimum of grade B in any ONE (1) of the following subjects: Biology / Physics / Chemistry / Mathematics / Further Mathematics
International Baccalaureate (IB)
  • Obtain a minimum score of 34 points
  • Obtain at least Grade 5 (HL) / 6 (SL) in Mathematics/Further Mathematics
  • Obtain at least Grade 5 (HL) / 6 (SL) in any ONE (1) of the following subjects: Biology / Physics / Chemistry / Mathematics / Further Mathematics
AUSMAT
  • Obtain a minimum score of 85 in the Australian Tertiary Admissions Rank (ATAR)
  • Obtain a minimum of grade B in Mathematics/Further Mathematics
  • Obtain a minimum of grade B in any TWO (2) of the following subjects: Biology / Physics / Chemistry / Mathematics / Further Mathematics

Additional Requirement

  • Candidates who apply must be physically fit, not suffering from any mental or physical illness and able to follow the program of study designed for this course.

English Language Requirements

  • Obtain a minimum of Band 3.0 in MUET for examinations starting from Session 1 of the year 2021, or Band 3.0 for examinations up to the year 2020, according to the validity period on the date of application
  • Applicants without MUET but with the following results may be considered for conditional admission, provided they fulfil MUET requirement within ONE (1) academic session:
    • Obtain at least Band 4.5 (Academic) in IELTS; or
    • Obtain a minimum score of 33 in TOEFL iBT (Centre-based)
  • MUET 4.0
  • IELTS (Academic) 5.5
  • TOEFL iBT (Centre-based) 46
  • TOEFL Essentials (Online) 8.0
  • Pearson Test of English (PTE Academic) 51
  • Cambridge English Qualifications & Tests B1 Preliminary, B2 First, C1 Advanced, C2 Proficiency 160