Why Actuarial Science at UCSI?
Picture this. For your whole life, you’ve always
been good with numbers. Not only can you easily grasp new concepts, theories
and symbols, you can also recognise the relationships between them and come up
with creative solutions fairly quickly. Solving problems from different
perspectives just comes naturally to you.
And since mathematics is basically about pattern
finding and logical thinking, you excelled in subjects such as Mathematics and
Additional Mathematics, and sometimes Physics too.
You grow to love it. After all, numbers just
made more sense to you.
Does any of the above relate to you? If it does,
then we are probably quite similar.
As someone who loved mathematics, the most
popular suggestion from my teachers and peers was Actuarial Science.
It is a common misconception that Actuarial
Science is all about mathematics, when in reality it consists of a combination
of mathematics, finance, statistics and probability. It focuses more on the
practical side of mathematics, which basically means applying mathematical and
financial concepts in solving real problems in risk management, insurance and
business.
Being an Actuary has been gaining popularity in
recent years. It is not surprising, given that it is consistently rated as one
of the top jobs worldwide in terms of pay, job security and work-life balance.
However, you should also be prepared to put in
much time and effort in passing a number of preliminary papers (depending on the Actuarial organization of your choice) in order to get your certification. Even with proper preparation and discipline, Actuarial exams can still be quite difficult to pass. If you’re not willing to say goodbye to your social life, then this is probably not the best path for you.
So, after getting to know more about Actuarial
Science, we’ll get back to the second part of the question: why UCSI
University?
After some research, I’ve found that only a few
universities offer Actuarial Science in Malaysia, one of them being UCSI
University. In fact, UCSI University is considered as one of the best
private universities for Actuarial Science for a few reasons:
- UCSI University is the first
private university to be recognised by both the Society of Actuaries (SoA)
and the Institute and Faculty of Actuaries (IFoA).
- UCSI University has the most
comprehensive SoA exam coverage in Malaysia.
- UCSI University provides several exemptions for both SoA and IFoA. (For more details, you should feel free the click this link.)
Besides, after almost a year of study, I feel
that UCSI University has given me a basic understanding in mathematics,
probability, finance and business that is required for some of the preliminary papers, namely Exam P and Exam FM for SoA. Personally, I feel that my
Probability Theory course has helped me tremendously in my preparation for Exam
P.
Not only that, I’ve noticed that many of my
peers have passed several papers while still attending classes at the same
time, and a handful of them even managed to complete all papers before
graduation. This shows that becoming a certified Actuary before graduation is
definitely doable, and it all depends on how much time and effort you are
willing to put in.
So far, I think I made the right choice!
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