Programmes Detail

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offered at USIM

Master of Science (Actuarial Science)

PROGRAMME DETAILS

Programme Code: S306
Medium of instructions: English
Credit hours: 43
Programme Option: Mixed Mode

Background of the Programme

Actuarial Science applies probability and statistics to define, analyze, and solve the financial impact of uncertain future events. This program also applies mathematical and statistical methods to assess risk in insurance, pension, finance, and other industries. The program is designed to fullfil the growing demand of actuarial analyst in the fields of takaful and insurance industry, finance, banking, reinsurance, investment, business consultancy, risk management and big data. This programme was first introduced in the 2016/2017 academic year. The evolving curriculum embeds the usage of new technology to equip our students with analytical, communication, computer, interpersonal, mathematics and problem-solving skills. The research components allow students to explore emerging issues in the field of actuarial science.


Objectives of the Programme

The Master of Science (Actuarial Science) programme is designed to produce:

1. Actuarial practitioners who can apply knowledge and practical skills in the field of actuarial science to generate new knowledge while providing the best services to related sectors.

2. Actuarial practitioners who are able to lead, work independently and in a team in solving problems as well as provide new ideas and subsequently convey information effectively.

3. Actuarial practitioners who constantly strive to improve their knowledge and abilities by leveraging digital technology to solve problems in related sectors.

4. Actuarial practitioners who practice ethical and professional values in providing services to related sectors.

CAREER PROSPECTS

Actuarial Analyst, Risk Manager, Data Scientist, Broker (Insurance & Takaful), Insurance Analyst, Loss Control Representative, Insurance and Takaful underwriter

Admission to Master’s Degree by Mixed Mode

  1. A bachelor’s degree in the field or related fields with a minimum CGPA of 2.75/4.00 or equivalent, as accepted by the Senate; or
  2. A bachelor’s degree in the field or related fields or equivalent with a minimum CGPA of 2.50/4.00 and not meeting CGPA of 2.75/4.00, can be accepted subject to rigorous internal assessment.
  3. A bachelor’s degree in the field or related fields or equivalent with minimum CGPA of 2.00/4.00 and not meeting CGPA of 2.50/4.00, can be accepted subject to a minimum of 5 years working experience in the relevant field and rigorous internal assessment; or
  4. Candidates without a related qualification in the field/s or working experience in the relevant fields must undergo appropriate prerequisite courses determined by the University and meet the minimum CGPA based on (1) to (3) above.
  5. Other qualifications equivalent to a bachelor’s degree with honours AND relevant professional work experience.

           Note: 1-year work experience is equivalent to 0.05 CGPA

(1)  An applicant shall show evidence of proficiency in the English language based on the following criteria: 

  1. TOEFL minimum score of 180 (computer-based) or 64 (internet-based); or
  2. IELTS minimum score of Band 5; or
  3. MUET minimum score of Band 3; or
  4. graduated from institutions that use English as the main medium of instruction, AND will be required to seat for University English Proficiency Test (UEPT) with minimum score of Band 3; or
  5. graduated in the field of Teaching of English as a Second Language (TESL), English Language Studies (ELS) and equivalent from a university recognised by the Senate; or
  6. a native speaker of English.

(2)  Research-mode applicant who intends to write his/her thesis in Arabic will be required to fulfil the criteria as follows:

  1. TOEFL minimum score of 150 (computer-based) or 52 (internet-based); or
  2. IELTS minimum score of Band 4; or
  3. MUET minimum score of Band 2; or
  4. UEPT minimum score of Band 2.

(3)  An applicant who does not fulfil any of the criteria under (1) & (2) will be allowed to register conditionally and is required to fulfil any of the criteria under (1) or (2), within 12 months (for Master’s students) and 24 months (for Ph.D. students).

ProgrammeModeTotal Fees

Local Full Time

Local Part Time

International

Master of Science (Actuarial Science)

Mixed Mode

9,051.00 MYR

9,098.00 MYR

15,465.00 MYR

The fees that stated are subject to change from time to time without any prior notice by the University. Student are advised to check the CGS Website for any changes before the of each semester registration. All fees must be paid upon registration.

The university has the right to withdraw this offer or to terminate you from your study if you are found to suffer from or to be a carrier of contagious/infectious diseases, or to suffer from a medical condition requiring continuous medical care that will adversely affect your study at USIM.

(1) Communicable Disease

Type of Disease / Problem Example

Example

1

  • Contagious
  • Difficult and require prolonged treatment
  • Expensive treatment
  • HIV / AIDS
  • Hepatitis B
  • Hepatitis C

2

  • Infectious
  • Treatable within certain period of time.
  • Tuberculosis

3

  • Infectious
  • Treatable within short period of time.
  • Malaria
  • Typhoid
  • Syphilis (VDRL)

4

  • Communicable Disease defined as epidemic by MOH
  • Japanese encephalitis,
  • SARS
  • Avian flu


(2)   Chronic Non-communicable Disease 

Type of Disease / Problem Example

Example

1

  • Condition that can endanger to himself or others.

  • Recurring repeatedly and affecting his study

  • Epilepsy

  • Schizophrenia

2

  • Expected to be prolonged.

  • Obvious and serious symptoms.

  • Prolong treatment schedule.

  • Dialysis

  • Cancer

3

  • Addiction or drug abuse as stated in AUKU or Malaysian Law.

  • Drugs.

  • Drugs

4

  • Continuous medication.

  • No serious symptoms.

  • Treatment does not affect study

  • Hypertension

  • Diabetes Melitus

 

Applicants can apply via online at https://ipps2.usim.edu.my/ and fill the prescribed forms. Forms and supporting authenticated documents must then be submitted through online or mailed to the office.

For information related to visa and student pass, please refer to http://alamiyyah.usim.edu.my

Contact Us

Centre for Marketing and Student Admissions
Level 1, Chancellory Building
Universiti Sains Islam Malaysia
Bandar Baru Nilai, 71800, Nilai
Negeri Sembilan, MALAYSIA

Phone: +606 798 8057 / +606 798 6002 / +606 798 8055
WhatsApp: Web: https://wa.me/6067986002
Email: study@usim.edu.my