Admissions
To apply for our MSc Actuarial and Risk Analytics (MARA) programme, you need to meet the following minimum admission requirements:
Admission Requirements
- A good undergraduate degree in any discipline
- GMAT or GRE score is optional
- A good IELTS/ TOEFL score if your undergraduate degree was not taught exclusively in English language
- Work experience is not required
The institution codes for the following tests are:
- GMAT: V24-ZV-40
- GRE: 3123
- TOEFL: 9705
Unsure whether to take the GRE or GMAT? Start with a mock test.
Total of 10 questions:
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Total of 9 questions:
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We accept these online tests only if they're taken no later than 31 Dec 2023:
- GMAT Online Exam
- GRE Test at Home
- TOEFL iBT Special Home Edition
- TOEFL ITP Plus for China students
- IELTS Indicator
Application Deadlines:
The MARA programme will start in July. The application for the July 2026 intake will start in September 2025. Applications are reviewed on a rolling basis, and early application improves your chances of being shortlisted sooner.
Round 1: 30 November 2025
Round 2: 31 January 2026
Round 3: 31 March 2026
Application Process
Candidates must meet our Admission Requirements in order to join the MARA programme. Only completed applications will be assessed. An application is considered complete when the online application is completed, required supporting documents are uploaded, and application fee is paid.
Get Started In 6 Simple Steps
Apply for the programme via our online application system. You may also login to the system to check your application status after submission.
Your application should demonstrate:
- Strong intellectual capability
- Solid career progression
- Professional achievements
- Leadership potential
- Cultural sensitivity
The essay questions are compulsory and you should articulate your thoughts clearly, using good judgement with respect to the word limit.
No separate application for scholarships is required – simply tick on the box relating to the scholarship you are applying for in the online application form and complete the essay for scholarship consideration.
Fill in the application form and upload the following supporting documents:
CV or Resume
Concise document no more than 3 pages, briefly describing your responsibilities and accomplishments
Educational Documents
Degree scroll/certificate(s) and academic transcripts of each university attended (official English translation is required for non-English certificates and transcripts)
Passport Photo
Coloured photo (taken within the last 3 months) in hi-resolution jpeg format
Passport or NRIC
For all international applicants, please have your valid passport on hand, as you will be required to complete a video identification within the application. For Singapore Citizens and SPR, please use your NRIC to complete the video identification.
Your device must be equipped with a working camera and microphone. You are also required to upload a scanned copy of your passport or NRIC.
GMAT/GMAT Focus or GRE Score (Optional)
You may upload your unofficial or test taker copy if you do not have your official test scores on hand. Please arrange to have your official test scores sent to Nanyang Business School. Our GMAT
institution code is V24-ZV-40 and our GRE ID code is 3123.
Important: We no longer accept GMAT/GRE online test scores taken after 31 December 2023. Only in-person test results are considered valid.
TOEFL or IELTS score report
Applicants are required to take the TOEFL or IELTS if English was not the medium of instruction used during your undergraduate or bachelor’s degree.
Applicants who have yet to take the TOEFL/IELTS may still proceed to submit their application and indicate the test dates in the online application form.
Important: We no longer accept TOEFL/IELTS online test scores taken after 31 December 2023. Only in-person test results are considered valid.
Referee Reports
Applicants are required to nominate two referees in the online application form. Upon nomination, an online referee report form will be sent to them for their completion.
All referee reports must be submitted from an official institution or organisational email address. Submissions from personal email addresses will not be accepted.
Professional Membership Certificates, if any
Upon submitting your application, you will be required to pay an application fee of S$100 via VISA or Mastercard.
After assessment of your application is completed, we will shortlist candidates for the interview. The interview is by invitation only and you will be informed via e-mail if you have been shortlisted.
The announcement of shortlisted candidates will be made after the deadline of the application round and is not a one-time exercise – subsequent announcements will also be made as warranted.
Admissions interviews for shortlisted candidates will be recorded as part of our selection process.
Candidates who have successfully completed the interview will move to the final selection stage whereby the Admissions Committee will meet for deliberation and candidates for admission are selected. Accepted candidates will be notified via an email from the Admissions Office.
Please note that only successful candidates will be notified. Applicants are advised to check the online application system for their application status. We are unable to confirm or release information via phone.
Should you receive an admission offer via email, you are required to complete the acceptance of the offer within the stipulated time or the offer will lapse automatically. The acceptance must be accompanied by a non-refundable enrolment fee of S$21,800 (inclusive of GST) which is deductible from the total tuition fees payable.
Fees
AY2026 (August 2026 Intake) | Enrolment Fee1 | Instalment 1 Payable by Aug | Instalment 2 Payable by Oct | Instalment 3 Payable by Jan | Total (inclusive of GST)2 |
Tuition Fee | $21,800.00 | $725.94 | $22,527.03 | $22,527.03 | $67,580.00 |
Note:
The application fee is S$100 and is strictly non-refundable and transferable.
A one-time miscellaneous fee of $555.20 (including GST) will be billed. This fee is subject to revision at the discretion of the University and final fee payable may differs slightly from the above.
1 The enrolment fee is payable upon acceptance of offer and is non-refundable and transferable. It will be deducted from the full tuition fee.
2 GST is subject to revision at the discretion of the Singapore Government. The current GST rate in Singapore is 9%.
Scholarships
MSc Actuarial And Risk Analytics Merit Scholarship
NBS offers partial scholarships to stellar candidates, on a competitive basis. Only applicants who have been offered a place in MSc in Actuarial and Risk Analytics programme are eligible for the scholarships. The partial scholarship will go towards off-setting the fees of the programme, and does not cover the living expenses in Singapore, travel, and accommodation.
Eligibility Criteria
- Possess excellent academic credentials
- Performed well in the admission interview
- Granted admission to the MSc in Actuarial and Risk Analytics programme
How to Apply
- Please complete the scholarship part of the online application, including the scholarship essay.
- Applicants who wish to be considered for the scholarship should ensure that their scholarship applications are completed (including submission of all supporting documents) by round 1 deadline.
- Scholarship application will only be considered when it is submitted together with the application.
ASEAN Development Scholarship
This partial scholarship is awarded to nationals of ASEAN member countries (excluding Singapore) as part of NBS’s effort to accelerate economic and social progress in the Member States of ASEAN. Recipients may receive up to 90% funding towards their tuition fees.
Eligibility Criteria
Scholarship applicants must possess strong academic records, demonstrated leadership qualities and potential, and for working professionals, a strong career progression.
How to Apply
A complete online application including the scholarship section, and required supporting documents must be submitted by the first round application deadline to be eligible for the ASEAN Development Scholarship.
Diversity Scholarship
The Diversity Scholarship aims to cultivate a vibrant community by supporting individuals who bring unique perspectives and experiences to the programme and the NBS community. Diversity encompasses a broad range of dimensions, including but not limited to ethnicity, gender, and cultural heritage. Scholarship applicants are encouraged to define diversity in a way that reflects their personal journeys and experiences. Each scholarship awarded covers 40% of the tuition fees.
Eligibility Criteria
Applicants must showcase a distinctive background, demonstrate how it enhances the broader understanding of diversity, and possess a track record of success in initiatives or activities that promote diversity within their communities or workplaces.
How to Apply
A complete online application including the scholarship section, and required supporting documents must be submitted by the first round of application deadline to be eligible for the Diversity Scholarship.
Funding
NTU Alumni Grant
NTU alumni who have completed a bachelor’s or post-graduate degree at NTU are eligible for an alumni grant of 10% of the tuition fees. The subsidy can only be used to offset the tuition fee and cannot be used to offset other costs
such as student service fees or miscellaneous fees.
Singapore Citizen & Singapore PR Grant
Singapore Citizens and Singapore Permanent Residents are eligible for a grant of S$5,000, with those awarded financial aid getting up to S$10,000. The subsidy can only be used to offset the tuition fee and cannot be used to offset other costs such as student service fees or miscellaneous fees.
To be eligible for financial aid, applicants must have a monthly PCI of less than S$2,500 or a gross household income of less than S$10,000. Financial aid is subject to a successful application.
