Actuarial Science at Victoria University of Wellington: A Guide for Malaysian Students
Good with maths and want one of the world’s best-paid, most in-demand careers? Actuarial science could be your path, and Victoria University of Wellington (VUW) is the place to study it in New Zealand.
Actuarial science is the discipline of using maths, statistics and finance to measure and manage risk. VUW is the only university in New Zealand to offer it as a full major, and its degree comes with a rare bonus: professional exam exemptions that save you time and money.
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The Actuarial Science Degree at VUW
At Victoria University of Wellington, you study Actuarial Science as a major in either a Bachelor of Science (BSc) or a Bachelor of Commerce (BCom). Both are three-year degrees based in Wellington, New Zealand’s capital, and VUW is the only New Zealand university that offers this major.
The two options let you angle your degree in actuarial science the way you want:
- BSc Actuarial Science: leans into the maths, statistics and modelling side.
- BCom Actuarial Science: pairs the maths with finance, economics and commerce.
Either way, you build the maths-and-finance toolkit insurers, banks and consultancies hire for. If you decide to specialise later, VUW also offers a postgraduate Diploma in Actuarial Science and a Master of Actuarial Science.
Earn Professional Exam Exemptions
VUW is accredited by the Actuaries Institute (Australia), so your university courses can count toward the professional actuarial exams. That means fewer exams to sit after you graduate, saving you time and money.
To become a qualified actuary, you typically need to pass a series of professional exams. At VUW, strong academic results can earn you exemptions from the Institute’s Foundation Program subjects.
How it works:
- Score a B+ or better in the relevant VUW courses, and you can earn an exemption from that exam.
- The Foundation subjects you can be exempted from include CB1, CB2, CS1, CS2, CM1 and CM2.
- Fewer professional exams later means you qualify as an actuary sooner, and it costs you less to get there.
Exam codes and the exact courses tied to them change over time, so always check the current list before you plan your papers.
Why Study in Wellington?
Wellington is New Zealand’s capital, and it’s also where a lot of the country’s big financial decisions get made. It is also home to the Reserve Bank, major insurers, superannuation funds and consulting firms — all places that employ actuaries. This means you’ll be studying close to the businesses where you could one day work.
That matters for two reasons:
- Internships and graduate roles in insurance, superannuation and consulting are close by, not a flight away.
- You build a local network while you study. This is handy when you start applying for actuarial jobs.
Entry Requirements and Costs
The actuarial science requirements at VUW start with a strong maths background, especially calculus and statistics. Victoria University of Wellington assesses your A-Level, STPM or IB results for entry, so your maths grades carry weight.
VUW also publishes the full BSc Actuarial Science entry requirements online. For students from Malaysia, the minimum academic requirements are:
- A-Level: three A-Level passes at grade C or better
- STPM: three passes at grade C or higher
- IB Diploma: at least 24 points
You’ll also need to meet VUW’s English requirement, which is IELTS (Academic) 6.0 overall with no band below 5.5.
As for costs:
- International tuition for 2027 averages about NZD 42,900 (~RM 101,000) a year for the BSc Actuarial Science major, and about NZD 39,800 (~RM 93,000) for the BCom. Your exact fee depends on the courses you pick.
- Wellington living costs run about NZD 2,200-3,600 (~RM 5,200-8,500) a month over a full year, in line with VUW’s own estimate of roughly NZD 26,000-42,900 a year for 52 weeks.
- For your New Zealand student visa, you must show NZD 20,000 (~RM 47,400) of living-cost money for the year, on top of tuition and travel. The application fee is NZD 850 (~RM 2,000).
Plan Your Actuarial Path With Selset
If you want to pursue an actuarial science degree in New Zealand, reach out to us. We check your grades against VUW’s entry, map out your likely exemptions, and handle your application and visa.
Our services are free for Malaysian students. Book a free chat with us, and we’ll plan your path to becoming an actuary.
Frequently Asked Questions
Where can I study actuarial science in New Zealand?
Victoria University of Wellington (VUW) is the only place in New Zealand where you can study Actuarial Science as a major. You can take it within a Bachelor of Science (BSc) or a Bachelor of Commerce (BCom), both three-year degrees, and continue to a postgraduate Diploma or Master of Actuarial Science if you want to specialise.
Is VUW’s actuarial science degree accredited?
Yes. VUW’s actuarial science degree is accredited by the Actuaries Institute (Australia). With strong results, you can earn exemptions from the Institute’s Foundation Program exams (subjects CB1, CB2, CS1, CS2, CM1 and CM2), which means fewer professional exams to sit after you graduate.
What grades do you need for actuarial exam exemptions at VUW?
You generally need a grade of B+ or better in the relevant Victoria University of Wellington courses to earn an exemption from a Foundation actuarial exam. The exact course-to-exam list changes over time, so check the current exemptions page before choosing your papers, and aim high in your maths and statistics courses.
How much does an actuarial science degree at VUW cost?
For 2027, international tuition at Victoria University of Wellington is about NZD 42,900 (~RM 101,000) a year for the BSc Actuarial Science major; the BCom version is about NZD 39,800 (~RM 93,000). On top of that, budget around NZD 1,700-2,200 (~RM 4,030-5,210) a month to live in Wellington, plus NZD 850 (~RM 2,000) for your student visa application fee.