Course outline

After the successful accreditation of its undergraduate Actuarial Science programmes, UCSI University is launching the MSc in Actuarial Management. This elevates UCSI’s offerings in the field of Actuarial Studies to the Graduate-Education level (curriculum covers all topics on the first four CAS/SOA exams and programmes leads to a Master’s degree).

As a post-graduate programme, the MSc in Actuarial Management will have more emphasis on the theoretical fundamentals of the disciples involved. In addition, this Master’s programme offers two structures (C or B) to meet the different needs of learners with a first degree in the quantitative discipline.

  • Structure C is ideal for professionals such as mathematics teachers, engineers or economists who want a mid-career switch to the actuarial profession. Structure C will equip them with the essential technical knowledge to pursue the Society of Actuaries exams up to associate level. In addition, it provides essential management know-hows for technicists to succeed in ascending the corporate ladder.

Actuarial Science is an interdisciplinary programme, so inevitably, graduates from such programmes could lack theoretical depth.

  • Structure B is designed for those who already have a degree in or related to actuarial science and would like to boost their theoretical foundation and develop skills for research. It is ideal for those interested to venture into academia or a management role that conducts more rigorous investigative tasks.

Programme Details

The MSc in Actuarial Management can be pursued either part-time (2 years) or full-time* (1 year). Structure C will include a total of 41 credit hours while Structure B has a total of 42 credit hours. The various learning methods include case-based, project-based and simulation-based learning.

Assessment

The assessment includes a combination of examinations, project, presentations and a research thesis. Learners can expect to deepen their knowledge in the field of actuarial science and the management skills that are applicable to the insurance industry and corporate management. They can also enhance their understanding of both academic theoretical conceptualisation and the professional practices.

Career opportunities

Learners will be equipped with both theoretical knowledge as well as the management skills required to succeed in the local and global fields of actuarial science. Graduates of the MSc in Actuarial Management can be employed as actuaries, risk managers, risk analysts and investment analysts among others, in key fields such as:

  • Insurance and reinsurance companies
  • Banking and finance
  • Consulting firms
  • Service firms
  • Government agencies
  • Universities and educational institutions

Tuition fees

Tuition cost for 1 year which is minimum 3 semesters. This course has two different structure which is B and C. However, the course offered here is B & C, so the price below shown is added together.

Malaysian students total cost: RM 53, 350

  • Structure B: RM 25, 950
  • Structure C: RM 27, 400

International students total cost: RM 66, 425

  • Structure B: RM 33, 025
  • Structure C: RM 33, 400

Additional charges will be implemented as well,

  • Resources fee for Malaysian students (ICT, library, student activities, facilities): RM 600.00
  • Resources fee for International student (ICT, library, student activities, facilities, medical plan): RM 650.00

Special case for international students

  • First time payment after application: RM 24, 600 

Entry requirements

Master's Degree by Coursework (Structure C)

  • A Bachelor's degree with minimum CGPA of 2.50 out of 4.00 or its equivalent qualifications as accepted by the HEP Senate
  • A Bachelor's degree with CGPA below 2.50 out of 4.00 or its equivalent qualifications can be accepted, subject to a minimum of 5 years of working experience in relevant field

Master's Degree by Mixed Mode (Structure B)

  • A Bachelor's degree with minimum CGPA of 2.75 out of 4.00 or its equivalent qualifications as accepted by the HEP Senate
  • A Bachelor's degree not meeting CGPA of 2.75 but above the CGPA of 2.50 out of 4.00 or its equivalent qualifications may be accepted, subject to the HEP rigorous internal assessment (may include tests, interviews or portfolio)
  • A Bachelor's degree below a CGPA of 2.50 out of 4.00 or its equivalent qualifications may be accepted, subject to a minimum of 5 years of working experience in relevant field

English language requirements

Band 6.0 in IELTS, or a score of 213 (computer based) / 550 (written based) in TOEFL, or applicants holding a previous degree from a University where the medium of instruction is English, will be deemed to have fulfilled this criterion. 

Application process for Malaysian students

All students must complete the Online Registration Form.

Submit by post the Online Registration Form and the following documents to the Student Enrolment Centre:

  • A certified true copy of actual / forecast / trial examination results. For instance: SPM / 'O'- Levels, STPM / A-Levels, UEC, SAM, CPU or other equivalent qualifications.
  • For exemption purposes - Diploma students (completed or currently still studying) must provide a certified transcript and Diploma Certificate (if applicable), together with the course syllabus.
  • A photocopy of your Identification Card (IC), both sides.
  • Three (3) copies of passport-size colour photograph.
  • Other supporting documents for your application (if any), eg. TOEFL, IELTS, MUET etc.

For Postgraduate Applications, kindly include:

  • Curriculum Vitae (CV) or Resume
  • A 2-3 page essay (i.e. your personal statement) in relation to your goals and objectives and how this programme will meet or enhance those objectives

A crossed cheque or bankdraft or Telegraphic Transfer (TT) for registration should be made payable to UCSI Education Sdn. Bhd. The Registration Fees are as follows:

  • RM400 (All programmes in UCSI University, Kuala Terengganu Campus)
  • RM650 (Postgraduate Programmes)

Application process for international students

Register online through the official website.

Important documents:

1. Academic Qualifications (PDF format)

For Postgraduate Applications, kindly include:

  • Curriculum Vitae (CV) or Resume
  • 2-3 page essay (i.e. your personal statement) in relation to your goals and objectives and how this programme will meet or enhance those objectives

2. Passport copy (Multipage PDF format)

  • Passport validity must not be less than 18 months from the date of admission/submission to the university.
  • All pages of the passport – including the cover pages – are required (in colour).
  • Kindly make sure that the page numbers of the passport are clearly visible.

3. Passport-sized photograph 

  • Coloured, with white background
  • Photograph measurement: Height (45mm) and Width (35mm)

4. Medical Report Form (PDF format)

5. Accommodation Application Form (if required)

  • Enclosed with non-refundable booking fee of RM1,000 (USD 340)

6. Additional Documents

  • Declaration Letter: discrepancy of name on passport & academic transcripts; to be issued by home country’s Ministry of Education OR by home country's commissioner of oath.
  • No Objection Certificate (NOC - Sudan): for students with Sudanese passport. To be issued by Sudan Embassy in Kuala Lumpur, Malasyia.
  • Eligibility Letter (EL - Iran): for students with Iranian passport. To be issued by Iran Embassy in Kuala Lumpur, Malaysia.

7. Telegraphic Transfer (TT) receipt of the Application Fee

  • Fee for this course: RM 2,790

Telegraphic Transfer (TT) receipt of the Application Fee (inclusive of EMGS payment) (receipt copies are to be uploaded during online registration or emailed to ao@ucsiuniversity.edu.my and finance@ucsigroup.com.my).

Then, Conditional Letter of Offer (CLO) is required after meeting the entry requirements and receiving the payment (Applications Fee and EMGS Visa Processing Fee), the University will email a scanned copy of the Conditional Letter of Offer (CLO). Then, UCSI University will proceed to apply for the Visa Approval Letter on behalf of the student. This process will take approximately 8-10 weeks.

When remittance of the Initial Fees and Miscellaneous Fees (as stated in the LoA including total rental and deposit for staying at the Residential Hall) have been credited into UCSI University's bank account via Telegraphic Transfer (refer to Step 1), UCSI University will courier the original LoA and the Original Visa Approval Letter (VAL) to the student upon request only.

Additonal notes

  1. Fees are subjected to change, for international student may have to refer to latest exchange rates.
  2. Additional cost my incurred depending on situation (Accommodation, laboratories equipment/materials, etc.)
  3. Encourage to study and research laws in Malaysia, as Malaysia is a majority muslim country. It is advisable for international students to understand the country's strict rules and culture. 
  4. English is used as a teaching medium and a widely spoken language in Malaysia, if the requirements are not stated in the university webpage, advisable to contact the university's authority for further information about English requirements or English Entry Requirements.
  5. For scholarship opportunities, please browse through our webpage postgradasia.com to find out local and international opportunities. 
  6. Encourage to visit https://www.ucsiuniversity.edu.my/ for deeper and more information.

Contact

UCSI University Kuala Lumpur Campus

  • No. 1, Jalan Menara Gading, UCSI Heights (Taman Connaught), Cheras 56000 Kuala Lumpur, Malaysia
  • Tel: (+603) 9101 8880
  • Fax: (+603) 9102 2614
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