Actuarial Science is a discipline that uses statistical and mathematical methods to assess risks.

Actuarial Science is applied to analyse and plan for any potential undesirable occurrences in businesses (particularly in the banking and insurance industry). This enables businesses to prepare for any future events and plan strategically for the future.

A Degree in Actuarial Science will teach you the in-depth knowledge on assessing risks and how you can minimise costs associated with such risks. It will also lay a strong foundation for you to prepare for your professional exams to become an Actuary (with a few paper exemptions too!).

To pursue a Degree in Actuarial Science, the typical entry requirements are:

• A-Level: Minimum 2Cs with credit in Mathematics; or

• STPM: Minimum 2Cs with credit in Mathematics; or

• Australian Matriculation: Minimum of ATAR 60 with credit in Mathematics; or

• Foundation: Minimum CGPA of 2.5 with credit in Mathematics; or

You also need to have credit in Mathematics or Additional Mathematics at SPM, O-Level or equivalent.

That said, the entry requirements may vary depending on the university, so be sure to do your research!

To pursue a Degree in Actuarial Science, you need to have an SPM qualification or equivalent and a Pre-U qualification. You must also meet the minimum entry requirements of the university.

A Degree in Actuarial Science is usually 3 years long.

Upon completing a Degree in Actuarial Science, you will have several options:

• Enter the workforce immediately; or
• Work and pursue your studies for professional exams at the same time; or
• Pursue postgraduate studies in the relevant fields

Once you complete a Degree in Actuarial Science, you can consider the following job options:

• Actuarial Executive
• Bank Executive
• Financial Risk Analyst
• Financial Planning Advisor
• Enterprise Risk Analyst

Different students may have different preferences when it comes to choosing the right university. Here are some questions to consider when making a decision.

• Is the institution’s Degree in Actuarial Science accredited by the Malaysian Qualifications Agency (MQA)?
• Does the institution’s Degree in Actuarial Science give you any exemptions for professional actuarial exams, such as SOA, IFoA or CAS?
• Do you understand the fees of the course, and are the costs affordable to you?
• Are you comfortable with the location of the university?
• Have you visited the campus, and do you like the campus environment and facilities?
• What support services does the institution have to help you in and beyond university?

If you’re not sure if a Degree in Actuarial Science is right for you, here are some articles that may help you:

• Your Guide to an Actuarial Science Course in Malaysia
• 5 Practical Tips When Applying for College
• The Ultimate Guide to Choosing the Best College Programme (Part 1, Part 2, Part 3)

Alternatively, explore our list of course guides to see which speaks out to you.

If you are an SPM leaver and you’re deciding which Pre-University or Foundation course to study, check out our comprehensive pre-university course guides. Alternatively, take our Course Recommender Quiz and get suggestions on which pre-university course you should take!