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SPM 2017 REVISION GUIDE

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Your guide to studying Actuarial Science in Malaysia

Course Duration

3 Years

Average Fees

MYR 10,000 - 60,000

Average Salary

MYR 37,000 - 55,000

Job Demand

What is Actuarial Science?

Actuarial Science is a discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries.

As a profession, you are awarded a working environment that is intellectually stimulating and challenging with continuous growth in technical skills and ability.

Do you like helping people? Do you want to help them get good health care and maybe protect themselves in old age? Do you want to create economic growth? Do you like taking calculated risk because you’re good at analysing one before going through with it? Lastly and most importantly, do you know what who an actuar...

As a profession, you are awarded a working environment that is intellectually stimulating and challenging with continuous growth in technical skills and ability.

Do you like helping people? Do you want to help them get good health care and maybe protect themselves in old age? Do you want to create economic growth? Do you like taking calculated risk because you’re good at analysing one before going through with it? Lastly and most importantly, do you know what who an actuary is? (Hint: They’re not people who act) Well then, it’s time to get serious and join us as we explain the world of actuarial science to you.

Insurance companies and other businesses employ actuaries to help them make informed financial decisions and minimize risk. An agency that offers car insurance, for example, must decide how much to charge different people for their insurance. An actuary will use math, statistics, and financial theory, plus tools like databases and statistical software, to determine the risk involved in insuring someone based on their age, driving history and the type of car they own. The actuary can then use these risk calculations to design various insurance plans and set costs.

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What are the subjects covered under Actuarial Science?

Additional Maths

Mathematics

Bahasa Malaysia

Probability and Statistics A

Probability and Statistics B

Linear Algebra

Finance and Financial Reporting

What you need to get on a Actuarial Science course?

Diploma in Actuarial Science

SPM : Minimum of 5 credits, with good grades in Mathematics & Additional Mathematics

O-Levels : Minimum of 5 credits, with good grades in Mathematics & Additional Mathematics

Degree in Actuarial Science

A-Level : ABB including A in Mathematics

STPM : ABB including A in Mathematics

UEC : 6A including A1 in Mathemathics and Advanced Mathematics

SAM : ATAR 90

SMA 3 (Indonesia) : 8

IB Diploma : 28 points

Master in Actuarial Science

Master’s Degree : A relevant first or second class Honours degree, or a degree qualification, or equivalent qualification recognised by the Malaysian Government, acceptable to the University.

Doctor of Philosophy (PhD) : English proficiency with either 600 in TOEFL or with a minimum score of 6 in IELTS Bachelor’s degree in a relevant field of study with a first class honours Completed Master of Mathematics Master’s degree in a relevant field of study

How does your education pathway look like?

What skills do you need for a Actuarial Science course?

Logical

You know that 1+1 = 2. You know that if you had to take 3 things with you to a deserted island, one of them would be a boat. You know the chicken came before the egg. You don’t know all this because you’re smart, you know these things because it’s simple logic.

Good communicator

You have no issues conveying a complicated assignment to the rest of the class because you’ve mastered the art of simplifying complicated information into simple terms everyone can understand, without skimping on the details.

Good with Numbers

While everyone else dreaded the day the Additional Mathematics exam fell on, that was your easiest paper. You didn’t really have to study much either, because by just listening in class, you were able to pick up all the skills needed. While some may have been born with a silver spoon in their mouths, you were born with a calculator in yours.

Who are all the top recruiters in Malaysia?

Below mentioned are the few of the top firms recruiting Actuarial Science degree holders in Malysia.

Where can you study Actuarial Science in Malaysia?

For a start, here are some of the most popular Actuarial Science schools in Malaysia.

Ask our experts

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