In 2019, the Bachelor of Science (Hons) in Actuarial Science programme from the Faculty of Computer and Mathematical Sciences (FSKM), Universiti Teknologi Mara (UiTM) has received recognition from the Institute and Faculty of Actuaries (IFoA), United Kingdom. The recognition awarded enables UiTM Actuarial Sciences students to be exempted for a total of five (5) IFoA’s Actuarial Science Professional Modules, namely the Actuarial Mathematics (CM1), Financial Engineering and Loss Reserving (CM2), Risk Modelling and Survival Analysis (CS2), Business Finance (CB1), and Business Economics (CB2).
The reputable accreditation process involves the appointment of an Internal Examiner of IFoA to oversee the examinations, vetting, and validation processes for the exemptions. The minimum grades eligible for the exemptions is an average GPA of 3.50/4.00, hence the list of eligible students must first be vetted and endorsed by the IFoA’s Internal Examiner before being submitted to the IFoA for approval.
August 8th, 2022 was a historical date as UiTM presented the first batch of the IFoA’s syllabus graduating students with exemptions. Ten academically excellent students managed to receive the maximum number of exemptions (5 exemptions), while a total of 90 students achieved several exemptions according to “By Subject” of the professional papers. 15 students exempted for CM1, 38 students exempted for CM2, 58 students exempted for CS2, 75 students exempted for the CB1, and finally 56 students exempted for CB2. The students’ efforts were proven through their outstanding achievements despite the pandemic outbreak, and online distance learning challenges. The faculty would like to wish congratulations, and all the best to all these outstanding students.