BSc (Hons) Actuarial Science
The course
- Programme code
- KPT/JPS (R/462/6/0008) (MQA/FA4167) 06/24
- Delivery type
- Full-time
- Duration
- 3 years
- Intake date
- September
- Location
- Malaysia
Our team of leading academics is internationally recognised for research, scholarship and teaching in mathematical and actuarial sciences.
Contact
Got questions about this programme?
Contact our enquiries team.
Overview
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.
Accreditation
This programme is one of the few in Malaysia which is fully accredited by the UK Institute and Faculty of Actuaries (IFoA). Good performance means exemptions from the Core Principles subjects (CS1, CS2, CM1, CM2, CB1, CB2), giving prospective actuaries an advantage over those in other mathematics based 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.
Course content
View or download full details of core, optional and elective courses/projects.
Year 1
- Probability and Statistics A & B
- Actuarial and Financial Mathematics A & B
- Multivariable Calculus and Real Analysis A & B
- Linear Algebra
- Algorithmic and Scientific Programming
Optional and elective courses available for Year 1 include:
- Finance and Financial Reporting
- Database Management Systems
Year 2
- Life Insurance Mathematics A & B
- Stochastic Processes
- Survival Models
- Derivative Markets and Discrete-time Finance
- Statistical Models A & B
- Portfolio Theory & Asset Models
Year 3
Students typically take Introductory Economics, Continuous-time Finance, Risk Theory, and Time Series Analysis. They can also
choose from a range of options such as Statistics for Social Science, Bayesian Inference and Computational Methods, Statistical
Machine Learning, and Optimisation.
Students take a total of 8 or 9 core/optional courses per year. For full details of the optional and elective courses, please refer to our
website.
Career
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.
Entry requirements
- A-Level / STPM: ABB
- UEC: 8 points including A1 in Mathematics and Advanced Mathematics, A2 in English
- ATAR (WACE/SACE): WACE : 90 including 80% in Mathematics Method / Specialist | SACE : 90% including 17 in Mathematics Method / Specialist
- Canada Year 12 High School Diploma: CPU is not acceptable
- International Baccalaureate Diploma: 28 points with 6 in HL AA Mathematics (HL Analysis and Approaches Mathematics)
- Foundation: CGPA 3.5 (further assessment is required)
- Diploma: Diploma with CGPA 3.5 (further assessment is required)
- Foundation in Business / Foundation in Science (from Heriot-Watt University Malaysia): Grade C average including A in Mathematics and C in English
- SMA 3 (Indonesia): 8.0
- Year 12 State Board High School Examination (India): 75%
- Senior High School Graduation Certificate (China): 80%
Note:
In addition to the entry requirements listed above, applicants must have grade A in Mathematics at SPM/ IGCSE or equivalent. This requirement can be waived if applicants have obtained at least grade pass in Mathematics at a higher level.
We highly urge all prospective students to submit their applications. Our students comprise of individuals with a wide array of qualifications. The most comprehensive way for us to assess eligibility is by receiving a completed application comprising of academic qualification.
Entry requirements in the prospectus and website may not always apply and individual offers may vary.
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.
Fees
View our tuition fees for this course.
Scholarships and bursaries
See our range of scholarships and sponsored scholarships.