BSc (Hons) Actuarial Science
- Course code
- KPT/JPS (R/462/6/008) (FA4167) 06/24
- Delivery type
- 3 years
- Intake date
Our team of leading academics is internationally recognised for research, scholarship and teaching in mathematical and actuarial sciences.
Actuaries manage risk and uncertainty and evaluate the likely impact of future events. Heriot-Watt’s Actuarial Science programme is world-famous for its excellence. It contains all the courses that are essential for ensuring a flying start to a career as an actuary whilst at the same time fostering highly transferable mathematical skills.
If you excel at mathematics, enjoy problem solving and are looking for a degree that will prepare you for a rewarding career – both intellectually and financially – Actuarial Science could be the programme for you.
This Bachelor’s degree mirrors the highly successful BSc Actuarial Science degree offered in the UK, which is accredited by the UK Actuarial Profession. This can significantly reduce the time taken to qualify as a Fellow of the Institute and Faculty of Actuaries.
Teaching and Assessment
Teaching is delivered through a combination of lectures, tutorials and project work. Course assessment is generally based on either coursework or an exam at the end of the semester, or a mixture of the two at the end of the semester or academic year.
Good performance in examinations means exemptions from all Core Technical subjects, CT1 to CT8, of the UK Institute and Faculty of Actuaries (IFoA) which can be converted to CS1 and 2, CM1 and 2 and CB1 and 2 under the new system of examinations, giving prospective actuaries an advantage over those in other mathematics programmes.
The degree is also accredited by the Royal Statistical Society and by the Malaysian Qualifications Agency (MQA). Additionally, we are also recognised by the Society of Actuaries (SOA) under Universities & Colleges with Actuarial Programs - Advanced Curriculum (UCAP-AC) which is the highest level of recognition in Malaysia.
View or download full details of core, optional and elective courses/projects.
- Probability and Statistics A
- Probability and Statistics B
- Linear Algebra
- Actuarial and Financial Mathematics A
- Actuarial and Financial Mathematics B
- Multivariable Calculus and Real Analysis A
- Multivariable Calculus and Real Analysis B
- Algorithmic and Scientific Programming
Optional and elective courses available for Year 1 include:
- Finance and Financial Reporting
- Operations Management
- Life Insurance Mathematics A
- Life Insurance Mathematics B
- Stochastic Processes
- Survival Models
- Derivative Markets and Discrete-time Finance
- Statistical Models A
- Statistical Models B
- Portfolio Theory & Asset Models
Students typically take Introductory Economics, Continuous-time Finance, Risk Theory, and Time Series Analysis and can choose from a range of options such as Statistics for Social Science, Bayesian Inference and Computational Methods, Statistical Machine Learning and Optimisation.
Employment prospects are good, with excellent financial rewards. Our students readily find work as trainee actuaries and graduates are also well-equipped for more general careers like accountancy, banking, stockbroking or teaching. What’s more, actuarial skills are appreciated anywhere in the world.
- Heriot-Watt University Malaysia Foundation in Science: ABBC – A in Mathematics, B in Physics, B in Chemistry, C in Academic English/Study Skills
- Heriot-Watt University Malaysia Foundation in Business: ABBC – A in Mathematics, B in Accountancy and Finance, B in Business Management, C in Academic English/Study Skills
- A-Level/STPM: ABB including A in Mathematics
- UEC: 8 points or less including A1 in Mathematics and Advanced Mathematics (5 subjects not less than B grade)
- WACE/SACE: ATAR 90
- SMA 3 (Indonesia): 8
- IB Diploma: 28 points (Minimum 6 in HL Mathematics: analysis and approaches)
- Diploma with high level of attainment in mathematics recognised by the Malaysian Government, acceptable to the University.
- Any other relevant qualification with high level of attainment in mathematics recognised by the Malaysian Government, acceptable to the University.
15 points or less including A in Mathematics and Physics (5 subjects not less than B grade)
English language requirements
If English is not your first language, then evidence of proficiency equivalent to IELTS 6.5 is required.
If you do not have IELTS 6.5, we offer a Pre-Sessional English Programme (PSEP) prior to commencing your studies.