Master of Science (Actuarial Science)
PROGRAM DETAILS
Programme Code: S306Medium 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
- A bachelor’s degree in the field or related fields with a minimum CGPA of 2.75 or equivalent, as accepted by the Senate; or
- A bachelor’s degree in the field or related fields or equivalent with a minimum CGPA of 2.50 and not meeting CGPA of 2.75, can be accepted subject to rigorous internal assessment; or
- A bachelor’s degree in the field or related fields or equivalent with minimum CGPA of 2.00 and not meeting CGPA of 2.50, can be accepted subject to a minimum of 5 years working experience in the relevant field and rigorous internal assessment.
- Candidates without a related qualification in the field/s or working experience in the relevant fields must undergo appropriate prerequisite courses determined by the Senate and meet the minimum CGPA based on (1) to (3).
- 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:
- TOEFL minimum score of 180 (computer-based) or 64 (internet-based); or
- IELTS minimum score of Band 5; or
- MUET minimum score of Band 3; or
- 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
- 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
- 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:
- TOEFL minimum score of 150 (computer-based) or 52 (internet-based); or
- IELTS minimum score of Band 4; or
- MUET minimum score of Band 2; or
- 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).
USIM POSTGRADUATE MASTER BY MIXED MODE FEES STRUCTURE: LOCAL STUDENTS - FULL TIME
PROGRAMME | 1st SEMESTER | 2nd – 3rd SEMESTER | 4th AND SUBSEQUENT SEMESTER | TOTAL CREDIT AND FEE | STUDY COST FOR 1.5 YEARS | |
|---|---|---|---|---|---|---|
NO. OF CREDIT | FEE PER CREDIT | |||||
MASTER OF SCIENCE (ACTUARIAL SCIENCE) | 3,177.00 | 2,437.00 | 287.00 | 43 | 150.00 | 8,051.00 |
USIM POSTGRADUATE MASTER BY MIXED MODE FEES STRUCTURE: LOCAL STUDENTS - PART TIME
PROGRAMME | 1st SEMESTER | 2nd – 4th SEMESTER | 5th AND SUBSEQUENT SEMESTER | TOTAL CREDIT AND FEE | STUDY COST FOR 2 YEARS | STUDY COST FOR 3 YEARS | |
|---|---|---|---|---|---|---|---|
NO. OF CREDIT | FEE PER CREDIT | ||||||
MASTER OF SCIENCE (ACTUARIAL SCIENCE) | 2,579.50 | 1,839.50 | 227.00 | 43 | 150.00 | 8,098.00 | 8,552.00 |
USIM POSTGRADUATE MASTER BY MIXED MODE FEES STRUCTURE: INTERNATIONAL STUDENTS
PROGRAMME | 1st SEMESTER | 2nd – 3rd SEMESTER | 4th AND SUBSEQUENT SEMESTER | TOTAL CREDIT AND FEE | STUDY COST FOR 1.5 YEARS | |
|---|---|---|---|---|---|---|
NO. OF CREDIT | FEE PER CREDIT | |||||
MASTER OF SCIENCE (ACTUARIAL SCIENCE) | 5,315.00 | 4,575.00 | 275.00 | 43 | 300.00 | 14,465.00 |
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.
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NOTICE ON APPLICATION PROCESS TO THE FACULTY OF SCIENCE AND TECHNOLOGY MASTER'S OF MIXED MODE PROGRAMMES
July 19, 2022
Dear Sir/Madam
Please be informed that the 98th Meeting of the Jawatankuasa Pengajian Siswazah Universiti (JKPSU) Edition. 8/2021 has agreed to tighten the application process for the Faculty of Science and Technology (FST) Mixed Mode programmes to the following:
a) One (1) offering in a year (only for Semester II).
b) Minimum of five (5) eligible candidates for each cohort before the issuance of offer letter.
Coordination with the Centre for Graduate Studies (PPS) and the Centre for Marketing and Student Admission (PPKP) has subsequently agreed:
To set a specific period for the application process of FST postgraduate programmes.
Accordingly, all prospective candidates are advised to contact the FST Postgraduate Managing Officer by joining the following Telegram Group: https://t.me/+AxT8TnBqOCMyZDU1, or by submitting their personal details and Bachelor qualifications via the following email: fstpg.admission@usim.edu.my.
FST team will then be in contact with you to provide more information on the application process.
Your attention is greatly appreciated. Thank you.
Contact Us
Centre for Academic Management
Division of Graduate Studies
Universiti Sains Islam Malaysia
Bandar Baru Nilai, 71800, Nilai, Negeri Sembilan, MALAYSIA
Phone: +606 797 8683 / +606 797 8684
Email: pg@usim.edu.my /study@usim.edu.my
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