24 September 2014

Sunway’s Actuarial Student Clears All Five Preliminary SOA Exams

Simon Eng Fwu Huey, who is currently only in his second year pursuing the Bachelor of Science (Hons) Actuarial Studies at Sunway University, recently cleared all five Preliminary Society of Actuaries (SOA) exams. His achievement is certainly outstanding as these exams are usually attempted only after one has completed their studies. “I wish to finish as many exams as possible before graduating, to ease the burden of studying for them while holding a job,” said Eng when questioned on what made him take the exams before completing his degree.

Eng, having passed all five exams in Probability, Financial Mathematics, Models for Financial Economics, Models for Life Contingencies and Construction and Evaluation of Actuarial Models, has taken a big step in his path in achieving qualified actuary status and is marching towards a rewarding career upon his graduation.

“With each exam passed I felt myself closer to qualifying as an actuary, this was what motivated me in the first place. It also serves as a testament that my study methods work and that my dedication has paid off”, said Eng who aspires to be an actuary in the traditional insurance business. His motivation to succeed does not stop here, Eng plans to work on the next qualifying requirement-Fundamentals of Actuarial Practice, a series of modules which encompasses a new online system introduced to expose actuarial students towards applying actuarial knowledge in real life situations. This requirement is essential for one wishing to attain the Associate of the Society of Actuaries (ASA) designation. Eng also plans to improve his computer and soft skills to enhance his employability.

“Sunway University invites practicing actuaries to come to campus regularly to give talks about the actuarial profession. Attending these talks provided me a better perspective on the opportunities and challenges of becoming an actuary. On the other hand, there are workshops on business awareness and computer software conducted by Sunway University’s in-house actuary Mr. Seow Fan Chong, to supplement our theoretical understanding with sought-after technical skills to prepare us for our internship and future employment”, says Eng. He looks forward to his upcoming 12-week internship, “As an exposure to the future work environment and opportunity to put knowledge learnt into practice.”

Citing his study at Sunway University as an enjoyable experience, he says “The lecturers here have a lot of experience, are approachable and supportive in helping me understand the course materials. I also have the freedom to engage in more than just the academic side of life. I was privileged to be one of the committee members of a newly established student society, the Sunway University Actuarial Society. We arranged an academic trip to Bank Negara and have held a mathematics competition among other things despite starting out fresh. The society has met the aim of organising fun and educational events for students. I am glad, and having rewarded with a sense of fulfilment, to be able to contribute to the student body and enriching myself at the same time.”

Time management and self-motivation skills are definitely Eng’s strong points, essential in this fast-changing world where emerging risks abound and a need for more creative ways in tackling these risks.

The 3-year Bachelor of Science (Hons) in Actuarial Studies programme at Sunway University aims to equip students both with academic and soft skills that will help them to be industry-ready by the time they graduate.

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