Bachelor of Science (Hons) Actuarial Science

The Actuarial Science programme integrates applied mathematics, statistics, and financial theory to address financial challenges. It focuses on assessing financial risks associated with uncertain future events, particularly in life assurance, property and casualty insurance, pension plans, and employee benefit programmes.

Designed to meet the evolving demands of the insurance and investment-related industries, the programme aligns its syllabi with professional examination requirements. It includes subjects approved by actuarial organisations for Validation by Educational Experience (VEE) credit, such as Economics, Accounting and Finance, and Mathematical Statistics.

The curriculum comprehensively covers topics from the CAS/SOA Probability (P) and Financial Mathematics (FM) actuarial examinations, along with over 12 semester hours dedicated to subjects relevant to the SOA Fundamentals of Actuarial Mathematics (FAM) and Statistics for Risk Modelling (SRM) exams. These include contingent payment models, frequency-severity and aggregate claims models, as well as advanced statistical methods such as linear and generalised linear models, principal component analysis, and cluster analysis.

Additionally, the UTAR Actuarial Science programme grants exemptions for CS1 (Actuarial Statistics I), CB1 (Business Finance), CB2 (Business Economics), and CM1 (Actuarial Mathematics I) from the Institute and Faculty of Actuaries (IFoA). Graduates who achieve the required marks set by the IFoA will be eligible for these exemptions upon completing the Bachelor of Science (Honours) degree.

• STPM: Grade C in 2 relevant subjects, including 1 Mathematics subject.
• A-Level: Grade D in 2 relevant subjects, including 1 Mathematics subject.
• UEC: Grade B in 5 relevant subjects, including 1 Mathematics subject.
• SAM: ATAR 70 and Grade B in 2 relevant subjects, including 1 Mathematics subject.
• CPU: Average of 70% in 2 relevant subjects and 4 other subjects, including 1 Mathematics subject.
• IB Diploma: Minimum of 24 points (excluding bonus points) and at least 4 points in Mathematics: Analysis and Approaches.
• Foundation in Arts, UTAR (Management and Accountancy Stream): Minimum CGPA of 2.00.
• Foundation in Science, UTAR: Minimum CGPA of 2.00.
• Matriculation / Foundation from other Institutions of Higher Learning (relevant field): Minimum CGPA of 2.00.
• Diploma (Level 4, MQF) in the relevant field: Minimum CGPA of 2.00.
• Other equivalent qualifications: Recognised by the Malaysian Government.

English Language Requirement:

• Malaysian Applicants (with STPM / UEC / qualifications not conducted fully in English): Credit in SPM English / Grade C in O-Level English / Grade B in UEC English / MUET Band 3 / IELTS Band 5.0 / TOEFL 40(iBT) / 7.5 (Essentials) / PTE 47 / Cambridge English 154 / OET 100 / ELS CIEP Level 107.
• Applicants with A-Level / SAM / CPU or entry qualifications fully conducted in English: Must have a pass in English at SPM level or equivalent.
• Applicants who do not meet the above English requirements but have a pass in English at SPM level/equivalent: Required to take the English Enhancement Programme and pass English Levels 7 & 8 before joining the Bachelor's degree programme.
• International Applicants: Minimum IELTS Band 5.0 / MUET Band 3 / TOEFL 40(iBT) / 7.5 (Essentials) / PTE 47 / Cambridge English 154 / OET 100 / ELS CIEP Level 107 / equivalent.
• International Applicants (with entry qualifications fully conducted in English or from countries where English is the official language): Must have a pass in English at SPM level or equivalent.

     Year 1

• Basic Mathematics​
• Calculus I​
• Calculus II​
• Financial Accounting I
• Financial Accounting II​
• MPU 1* 
• National Language / Other Language​
• Probability and Statistic I 
• Probability and Statistic I​I
• Programming Techniques for Data Processing​ 
• Theory of Interest

     Year 2

• AS Elective Group I 
• AS Elective Group III 
• Financial Economics I​
• Industrial Training​
• Introduction to Risk
• Management and Insurance​
• Introduction to Actuarial Mathematics​
• Macroeconomics I​
• Microeconomics I​

      Year 3

• AS Elective Group I 
• AS Elective Group III 
• AS Elective Group IV
• ​AS Elective Project
• Co-curriculum
• ​MPU 1**
• Sociology in Malaysian Context​
• Sun Zi’s Art of War and Business Strategies​

AS Elective Group I (Choose 8 course(s))

• Actuarial Mathematics
• ​Advanced Database Systems​
• Applied Nonparametric
• Statistics​
• Applied Regression Analysis​
• Credibility Theory​
• Database System
• Fundamentals​
• Financial Economics II​
• Introduction to Ratemaking and Reserving​
• Loss Models​
• Mathematical Statistics 
• Microeconomics II​
• Operations Research I 
• Predictive Modelling 
• Statistical Decisions 
• Statistical Simulation for Insurance and Finance​
• Stochastic Processes​ 
• Time Series Analysis 

AS Elective Group III (Choose 1 course)

• Business Finance 
• Financial Statement Analysis 
• Islamic Finance 
• Portfolio Management 

AS Elective Group IV (Choose 3 course(s))

• Academic Writing 
• Applications of Artificial Intelligence​
• Automation in the 4th Industrial Revolution​
• Basic Professional Writing 
• Communication in Interpersonal Relationship​
• Confucianism and Modern Society​
• Creative Thinking and Idea Generation​
• Critical Reading and Thinking
• Cross Cultural Management​ 
• Cross-Cultural Interactive Communication 
• Digital Economy​
• Electronic Commerce​
• Experiential Research Skills (ERS)​
• Oral Communication and Interpersonal Skills 
• Principles of International Business​
• Property Market Analysis​
• Public Speaking and Oral Presentation 
• Understanding Politics: State, Nation and Government​

AS Elective Project 
(Choose 2 course(s))

• Actuarial Expository Project​
• Actuarial Modelling​
• Case Study on Insurance Practice​
• Project I​
• Project I​I 

MPU 1* (Choose 1 course)

• Penhayatan Etika dan Peradaban - For Local Students
• Philosophy and Current Issues - For International Students

MPU 1** (Choose 1 course)

• Bahasa Melayu Komunikasi 2 - For International Students
• Falsafah dan Isu Semasa- For Local Students

​​​​​​​National Language/Other Language (Choose 1 course)

• Bahasa Kebangsaan (A) - For Malaysian only, without SPM-BM credit
• Communication Tamil For Health Sciences
• Introduction to French
• Introduction to German Language
• Introduction to Japanese
• Introduction to Korean
• Introduction to Tamil Language
• Introduction to Thai Language

Co-Curriculum (Choose 1 course)

• Art, Craft, and Design
• Arts and Cultural Performance
• Business Plan Writing and Preparation​
• Community Project​
• Critical Thinking, Creative Thinking and Problem Solving​
• Language, Culture and Social Study Abroad​
• Leadership and Teambuilding
• Management of Sports Activity
• Managing Personal Finance​
• Music Performance​
• Social Entrepreneurship Project
• Study Soft Skills and/or Life Skills Abroad
• Team Work and Collaborative Project
• Work Ethics and EQ​