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BSC (HONS) IN ACTUARIAL STUDIES

BSC (HONS) IN ACTUARIAL STUDIES

This programme is specifically designed to provide:




Admission required:




COURSE ADVANTAGES




PROGRAMME DESCRIPTION


APU BSc (Hons) in Actuarial Studies is a 3 years degree programme of full-time study. This programme is designed not only to provide students with knowledge and skills to enter the actuarial profession but also prepare them for the professional examinations that will lead them to a qualifiedactuary


Our graduates will also acquire the essential leadership qualities, work in teams, communication skills, problem solving abilities, critical thinking, as well as entrepreneurial and managerial skills that will enable them to face the challenging and exciting world today


Actuaries usually work primarily for the insurance industry. They are also highly sought after by other sectors such as private corporations, banks, financial institutions and investment firms, brokerages and even government department such as Bank Negara also requires actuaries in risk management and financial consulting services. They also work for:




Level 1


This level comprises modules from the areas of finance, economics and mathematics


The objective of the first year is to equip students with the basic tools of mathematics, financial accounting, and economic analysis which will be required for the modules to follow at the next level


Linear Algebra, Calculus, Discrete Mathematics, Statistics, Probability Models and Advanced Probability Models are designed to prepare students for using mathematics and statistics in other contexts


Microeconomics will provide students with a better understanding of the business environment. Financial Accounting skills and the core principles underlying financial theory will be introduced in this level which will be enhanced in the higher level. Business and Communication Skills will further equip students with the communication skills required to cope with academic demands of degree level study in all disciplines


Modules


Probability Models

Linear Algebra

Business and Communication Skills

Calculus

Financial Accounting

Microeconomics

Discrete Mathematics

Introduction to Visual Programming

Advanced Probability Models

Statistics


In addition to the above, all students are also required to successfully complete General Studies modules as stipulated by the Malaysian Qualification Agency, as well as fulfill credit requirements for Co-Curricular Activities


Level 2


This level looks at applications of mathematics and statistics in the financial & insurance sectors. The modules offered will cover techniques for the analysis of results from experiments and surveys where students will be doing modules like Regression Analysis, Time Series & Forecasting, Life Contingencies as well as Linear Programming.


Modules such as Financial Mathematics, Financial Planning & Control, Financial Statement Analysis and Financial management will allow students to explore finance in greater depths, both at the planning and management aspect. The Financial Economics module will introduce students to the necessary skills to construct asset liability models and to value financial derivatives whereas Life Contingencies module will provide students with a strong grounding in the mathematical techniques which can be used to model and value cashflows dependent on death, survival, or other uncertain risks.


Business Ethics and Governance will also be taught in this level to provide students with relevant knowledge, skills and professional judgment in which companies are directed and controlled.


At this level, all students are introduced to the Business Research Methods which exposes them to how to write research proposals and conduct research.


Modules


Linear Programming

Financial Statement Analysis

Time Series & Forecasting

Financial Mathematics

Calculus II

Regression Analysis

Financial Economics

Financial Planning and Control

Business Research Methods

Financial Management

Business Ethics & Governance

Life Contingencies



Internship


At APU, we encourage our students to be entrepreneurial and innovative. After the completion of Level 2, students will undertake a short internship/industrial training of a minimum of 12 weeks. This will provide our students opportunities to engage with realworld business problems both in our programmes and in our renowned Professional Training placements.



Level 3


Corporate Finance, Risk Theory, Financial Derivatives, Macroeconomics Policy & Financial Markets, and Portfolio Management modules will further enhance the knowledge of an individual to plan, manage, and analyze the financial and monetary aspects and performance of business enterprises, banking institutions or other organisations.


Insurance Practice and Survival Analysis modules introduce students to a wide range of concepts and terminologies in insurance providing students with basic skills of calculating various insurance related items. Introduction to Stochastic Process will introduce students to a range of stochastic process which are used as modeling tools in diverse fields of applications.


Life contingencies 2 is introduced in this level where students will learn how to calculate various types of insurance contracts contingent upon two lives, profit testing and pension plans.


All students at Level 3 will have to undertake an investigation module and project related to investment, financial, commerce or insurance.


Modules


Introduction to Stochastic Process

Financial Derivatives

Corporate Finance

Risk Theory

Investigation in Actuarial Studies

Macroeconomics Policy & Financial Markets

Portfolio Management

Survival Analysis

Life Contingencies 2

Insurance Practice

Project in Actuarial Studies



CAREERS IN ACTUARY


With highly specialized skills primarily for the Insurance industry, but also extending to other sectors, graduates may work as Actuarial Executives, Risk Analysts, Consultants, Statisticians, Mathematicians, Insurance Industry Specialists in Life and Health Insurance or Property and Casualty Insurance, Credit Manager, Policy Makers, Bank Executives, Financial Analysts, Financial Planning Advisors or even as Administrator and Entrepreneurs.

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