FAQ about Actuaries, studying Actuarial Science in the Faculty of Science, and Actuarial Exams.

FAQ regarding Actuaries, studying Actuarial Science in the Faculty of Science, and Actuarial Exams.

This post compiles answers to various common questions. If anyone has additional questions, please feel free to ask!

1. What is it like studying Actuarial Science in the Faculty of Science at Mahidol University? Is it difficult?

The program at Mahidol is a 3.5-year course. In terms of difficulty, it is neither too easy nor too hard. Some students receive F grades, some don't finish the program, and some get a 4.00 every semester. If you have enough focus and effort, I believe anyone can graduate. Additionally, when entering your 3rd year, you can choose whether to study your remaining year and a half at Curtin University in Perth, Australia, or stay and continue your studies in Thailand. On average, about 15 students go each year.

2. What is it like studying at Curtin University? Is it difficult?

Studying at Curtin is considered very difficult compared to studying at Mahidol. The academic standards at Curtin University are very high. In my batch (SCAS), about 35% of the students who went ended up failing a class (resulting in graduating a year later than their peers).

3. What does the entrance exam for Actuarial Science at Mahidol University cover?

The entrance exam consists of two subjects: English and Mathematics.

4. What are the criteria if you choose to continue your studies at Curtin University in your 3rd year at Mahidol?

• English Proficiency Score: An IELTS score of 6.5 or higher, with no individual band score below 6.0.

• GPA: Must be 3.00 or higher.

• Note: These criteria may change in the future.

  
  

5. Approximately how much does it cost if you choose to study at Curtin University in your 3rd year at Mahidol?

The total expense is roughly 1.5 to 2 million Baht, depending on:

• Room Rent: Prices range from 100 to 250 AUD per week.

• Food: Cooking your own meals is much cheaper than frequently eating out at restaurants.

• Airfare: Choosing a direct flight with Thai Airways is more expensive than flying with a layover via low-cost carriers like Scoot or Malindo.

• Part-time Work: Working part-time—for example, at a restaurant—pays around 13 to 20 AUD per hour. This can help recoup some of your expenses, and if you work a lot, you might even return home with some savings.

  
  

6. If you study Actuarial Science at Mahidol and then continue at Curtin University, will you have passed all 6 exam papers by graduation?

If your grade meets the 73% threshold in the required course, it is counted as an immediate exam pass. For example, if you score 73 or higher out of 100 in the Theory of Interest course, you immediately pass Exam FM. If your grades meet the threshold in every required course, you will pass all 6 exams. However, this policy is subject to change in the future.

7. Is passing 2 exam papers by graduation considered enough?

Yes, it is enough. I recommend that anyone pursuing an actuarial career pathway set a goal to pass 2 exams within the 4 years of their bachelor's degree. However, if you can pass more than that, it's a great advantage, and you should try to pass as many as possible to lighten your exam burden once you start working.

8. What is the student community like in Actuarial Science at Mahidol University?

Each batch has a mix of high-achieving and average students. For the most part, students form groups to study for exams and tutor each other. The top students readily help teach others. It is a collaborative community where students help each other learn rather than compete.

9. Are there on-campus dormitories for students?

There are no on-campus dorms, but you can find off-campus housing near the university. I recommend looking around Petchaburi Road Soi 5 and Soi 7, or Rama VI Road Soi 22.

10. Are there scholarships available for students?

Yes, there are. Most of them are scholarships sponsored by insurance companies, such as SCB Life. Upon graduation, you are required to work for the company to fulfill the scholarship bond.

11. If you don't want to work for an insurance company, what other jobs can you do? Apart from insurance companies, you can look for roles at consulting firms like PwC. Consulting firms often offer higher starting salaries compared to insurance companies.