Pathway to become a professional actuary in Malaysia through the Society of Actuaries (SOA) USA
The journey to become a qualified actuary as outlined by the Society of Actuaries (SOA) - one of the most prominent
- Dr Toh Kian Kok, Actuarial Science professor at UCSI University
professional organisation for actuaries in the world - is divided into four stages.
The first is the Validated by Educational Experience (VEE) stage where students who receive grades of 70% and above for subjects in economics, corporate finance and applied statistics - will receive credit for these professional papers.
The second stage involves five preliminary exams that candidates must pass before proceeding to the penultimate stage, namely, the Fundamentals of Actuarial Practices course and the Associateship Professionalism Course (APC). This will qualify them as an Associate of the Society of Actuaries (ASA).
The final hurdle would be to qualify as a Fellow of the Society of Actuaries (FSA).
While UCSI University's Actuarial Science related programmes follow SOA guidelines, Dr Toh points out that the University has a trump card that separates it from the competition.
"Our focus on preparing the students for the professional examinations has helped them to familiarise themselves with the examinations and enabled them to perform well."
"As testament to our efforts, we have students who passed three out of five preliminary exams when they were still in their second year. This is a remarkable feat which we are proud of.
- Chong Kim Sin, a UCSI Actuarial Science student has completed 5 Society of Actuaries (SOA) Professional Papers before entering into the 3rd Year of his degree studies.
Chong Kim Sin, a UCSI Actuarial Science student has completed 5 Society of Actuaries (SOA) Professional Papers before entering into the 3rd Year of his degree studies.
There are very few students in the whole of Asia who have passed five SoA examinations before the third year. This makes Chong Kim Sin among Asia’s crème de la crème for actuarial science.
Currently, Chong Kim Sin has passed the Probability (P), Financial Mathematics (FM), Actuarial Models: Financial Economics (MFE), Actuarial Models: Life Contingencies (MLC), as well as the Construction and Evaluation of Actuarial Models (C) examinations.
He now has only two components left before qualifying as an Associate of the Society of Actuaries (ASA); the Fundamentals of Actuarial Practice (FAP) and Associateship Professionalism Course (APC).
The Best Actuarial Science Degree Programme at UCSI University
Actuaries are professional deal with the financial impact of risk and uncertainty. They use skills in mathematics, economic,
- "EduSpiral provides great advise to students to help them find the right university." Lim Khang Lun, UCSI University Business degree student.
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 at UCSI University 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 at UCSI University 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 of the BSc (Hons) Actuarial Science at UCSI University
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.
Year 1 Subjects for the BSc (Hons) Actuarial Science Degree at UCSI University
- UCSI University students Chew Pei Xin (second from left), Jasmine Lum (third from let), Lim Wai Hing (fifth from left), and Faculty of Business & Information Science lecturer Ms. Eva Lim (sixth from left) posing for a group photo after bagging the first runner-up prize at the MSC Malaysia- IHL Business Plan Competition (MIBPC).
- Mathematics 1
- Statistics
- Elective 1
- Managerial Accounting
- Mathematics 2
- Applied Probability
- Mathematics of Interest Rates
- Mathematics of Financial Derivatives
- Business Accounting
- Elective 2
- Elective 3
- University Life (MPU-U2)
- Extracurricular Learning Experience 1 (MPU-U4)
- Co-operative Placement 1
Year 2 Subjects for the BSc (Hons) Actuarial Science Degree at UCSI University
- Swimming pool at UCSI University
- Applied Statistical Models
- Life Contingencies 1
- Financial Management 1
- Intro to Stochastic Process
- Life Contingencies 2
- Loss Models
- Stat. Simulation for Fin. Modelling
- Macroeconomics
- Elective 4
- Microeconomics
- Elective 5
- Business Law- Malaysian Perspective (MPU-U3)
- Extracurricular Learning Experience 2 (MPU-U4)
- Co-operative Placement 2
Year 3 Subjects for the BSc (Hons) Actuarial Science Degree at UCSI University
- EduSpiral provides counseling that is supported by facts & evidence to help students make the best choice. Pic - Student, with his mother, registering at UCSI University after the tour
- Independent Project 1
- Stochastic Calculus for Ins. & Fin.
- Stat. Methods for Insurance
- Credibility Theory
- Actuarial Practices
- Elective 6
- Independent Project 2
- Extracurricular Learning Experience 3 (MPU-U4)
- Co-operative Placement 3
List of Electives (choose up to 6)
- Fundamental of Marketing
- Fundamentals of Management
- Introduction to Internet Technologies
- Accounting Information System
- Business Modelling with Spreadsheet
- Business Information System
- Java Programming 1
- Business Law
- Business Communications
- Corporate Finance
- Visual Basic .Net
- Numerical & Computing Method
Top Actuarial Science Degree Programme at UCSI University
To obtain the best people for the job, the actuary profession is one of the most
- Chan Min Zhuo, Actuarial Science degree student at UCSI University, is one of the few local students who passed three of the five preliminary exams required in 2 years
Chan Min Zhuo, Actuarial Science degree student at UCSI University, is one of the few local students who passed three of the five preliminary exams required in 2 years
regulated.
One must pass professional examinations and various on-the-job assessments, in addition to obtaining a degree. There are not many universities in Malaysia that offer the degree in Actuarial Science.
To study Actuarial Science in Malaysia, students should choose a university that best equips them with the knowledge and skills to succeed in actuaries.
Understanding the profession's stringent requirements, UCSI University sought the knowledge and experiences of Dr Ngerng Miang Hong and Dr Toh Kian Kok to manage and design its BSc (Hons) Actuarial Science.
Assoc Prof Dr Toh Kian Kok is also the Deputy Vice-Chancellor, Quality Assurance and Enhancement at UCSI University with a B.Sc. (Actuarial Science), M.Sc. (Applied Mathematical Science), and Ph.D (Statistics)
The result: A course that provides students with a world-class degree in line with the requirements of the Society of Actuaries
- UCSI University located in Taman Connaught, Cheras, Kuala Lumpur
(SOA) - the largest professional organisation for actuaries in the world. On top of that, the course also grooms students to have the rigorous capacity to ace the professional examinations they are required to sit for.
"Students require only three years of full-time study to prepare them for the professional examinations and on-the-job assessments during the span of their careers," says Dr Toh, who is the Dean of UCSI University's Faculty of Business and Information Science.
"It is a heavy responsibility for us as we want to ensure that within their three years with us, we prepare them for the next 30-years or more of their career."
Study at the Top Ranked UCSI University in Malaysia
UCSI University is a vibrant community of learning and scholarship. With more than 10,000 students from 80 different countries,
- EduSpiral helped Alvin Chai, Jen Hui, Paul Kit, and Wen Hao from Poi Lam High School Ipoh providing course counseling and campus tour. They are now studying in various programmes at UCSI University
the University stands out as a melting pot of diversity and learners will supplement their pursuit of knowledge with a keen sense of cultural appreciation – a vital trait in today’s borderless world.
As one of Malaysia’s first private universities,UCSI University has long impacted the national higher education landscape and the University continues to do so with its wide range of undergraduate and postgraduate programmes.
UCSI University is ranked as Excellent or Tier 5 in the SETARA 2013 rating system by MQA.
The University’s academic staff are at the forefront of their disciplines and their views are highly sought after on major issues; from business to political science.
Many of their academics have extensive experience working overseas and some play advisory roles in public bodies and various committees. By bringing their experiences into the classroom, UCSI's academics cater to an exhilarating learning environment and learners will thrive as they balance academic mastery with industrial application.
Since its inception in 1986, UCSI University has been committed to further the discovery and celebration of knowledge.
Co-Operative Education Training Programme for Every Year of Degree Studies at UCSI University
- During my Co-Op at Ogilvy and Mathers, I gained great work experience and insight into what working is like. UCSI University has about 1000 companies partnered with them where I can choose to do my Co-Op.
Paul Kong, UCSI Graduate
With its innovative academic curriculum, UCSI University students also enjoy the unique benefits of its Co-Operative Education Training Programme (Co-Op) that enhances their employability by integrating classroom learning with workplace training in Co-Op employer organisations.
Completing two months' work experience for every study year, a UCSI University student would have six to eight months' work experience to stand ready for full-time employment upon their graduation.
Currently, UCSI University has more than 1,000 employer organisations registered as heir Co-Op employers.
With the number rising annually, these partnerships create job opportunities for students to be job-ready upon their graduation.
State-of-the-Art Facilities at UCSI University
Situated on a 19-acre piece of land, the Campus is located in Cheras, Kuala Lumpur with convenient access to numerous
- Chemistry lab at UCSI University
facilities including banks, restaurants, transportation services, entertainment, and accommodation. Fully wireless, it is equipped with the latest cutting-edge technology to access the world of e-learning and e-resources.
Housing 7 different blocks, the Campus includes the Student Centre (Menara Gading), the Resource Centre, the Academic Blocks and Residential Halls to comfortably accommodate a student population of more than 15000.
Sporting facilities in this Campus include: basketball, badminton and squash courts, as well as a gymnasium, a football field, and a swimming pool.
Other facilities include the four-level library, an auditorium, a recital hall, a multi-purpose hall, computer laboratories, residential halls, bookstores and cafeterias. Also available on Campus is an Apple Experience Centre.
The Campus faculty-centric facilities include: the Anatomy & Pathology Museum, Clinical Skills Laboratories, Petrochemical
- UCSI students playing basketball at the Multipurpose Hall with the Gym in the background.
Laboratory, Physiology & Pharmacology Laboratory, Molecular Biology Laboratory, and Microbiology Laboratory, fashion design workshops, Psychology Laboratory, as well as drafting and design studios.
The University is also constantly working with the industry to set up specialised labs which ensure students are updated with the latest industrial practices. Currently, the University has established laboratories jointly with National Instruments and RICOH under the School of Engineering and the School of Information Technology, respectively.
Due to its rapid expansion, an additional 48-storey building will be built on the existing Campus that will include a 5-Star hotel, twelve floors of parking bays and hostel accommodations for UCSI University students, administrative offices, restaurants, a ballroom and also a clubhouse.
Sports Facilities at UCSI University
- Students get value for money at UCSI University with access to excellent sports facilities
- Badminton Courts
- Basketball Courts
- Football Field
- Futsal Court
- Gymnasium
- Pool Tables
- Squash Courts
- Swimming Pool
- Table Tennis
- Volleyball Court
EduSpiral Consultant Services- Your Personal Online Education Advisor
Established since 2009, EduSpiral Consultant Services helps provide information and counselling on courses and universities in Malaysia. EduSpiral Consultant Services also represents MDIS Singapore and Hong Kong Polytechnic University.
EduSpiral Consultant Services represents the best colleges and universities in Malaysia offering a wide range of choices for
- EduSpiral arranged for us to meet the Head of School to explain the course to us to help us compare which university would be the best.
Chee Wey (middle) full scholarship for Actuarial Science at UCSI University
students to choose from. These colleges and universities offer value for money in the quality of education and excellent facilities that you get.
These universities and colleges are chosen by EduSpiral because they represent the best in their fields in Malaysia and affordable. EduSpiral provides in-depth information and counseling on their courses so that students are able to make the right choice.
If you are still not sure what to study, please contact us and we will send you a free EduSpiral Career Assessment Form.
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