Program

Actuarial Studies - 8411

Program Summary

Faculty: UNSW Business School

Contact:  UNSW Business School Student Centre

Campus: Sydney

Career: Postgraduate

Typical Duration: 1.5 Years  

Typical UOC Per Semester: 24

Min UOC Per Semester: 6

Max UOC Per Semester: 24

Min UOC For Award: 72

Award(s):

Master of Actuarial Studies (Specialisation)

View program information for previous years

Program Description

The handbook provides you with information on the degree structure you would need to follow for the year you commence your study.

If you are a prospective student researching your study options, please visit UNSW Business School website for more information.


The Master of Actuarial Studies is suitable if you have a strong background in actuarial studies, economics, mathematics or statistics. The program will prepare you for an actuarial career.

If you have completed an undergraduate degree in Actuarial Studies, the Master of Actuarial studies will allow you to complete courses equivalent to the Part I professional courses that you have yet to complete. You can also complete the Part II courses of the Institute of Actuaries of Australia and includes optional courses to assist with later professional Fellowship examinations. You can also broaden your actuarial training by including relevant courses in the Business School at postgraduate level in other disciplines through a selection of elective courses.

The Master of Actuarial Studies allows you to obtain and develop the required competencies to enter an actuarial career and provides quantitative risk management training for entry into the financial services industry. The program covers the professional actuarial subjects and includes options in actuarial studies, quantitative risk management, and other related disciplines.

Program Objectives and Graduate Attributes

Learning goals and associated learning outcomes for the Master of Actuarial Studies:
  1. Knowledge: Our graduates will have current Actuarial knowledge applicable in local and global contexts.
  2. Critical thinking and problem solving: Our graduates will have critical thinking and problem solving skills applicable to business and/or management practice or issues.
  3. Communication: Our graduates will be effective communicators in professional contexts.
  4. Teamwork: Our graduates will be effective team participants.
  5. Ethical, social and environmental responsibility: Our graduates will be aware of ethical, social, cultural and environmental implications of business issues and practice.

Program Structure

The Master of Actuarial Studies is a 1.5 year (full-time) or 3 year (part-time) degree program consisting of 12 courses (72 UOC): 4 core courses, plus 8 elective courses.

Core courses

Elective courses
Choose 8 elective actuarial courses from the following list:
Note: You have the ability to choose a maximum of 4 non actuarial courses to complete the program. Enrolment into the courses, are subject to approval from the School of Risk & Actuarial and the disciplinary school offering the course.

A list of approved courses (approved by the School of Risk and Actuarial Studies) is listed below.

Recommended Study Plan
These are provided to illustrate the Master of Actuarial Studies program structure for sample candidates. It is important to realize that every student entering the Master of Actuarial Studies usually has a different background, has completed varying courses and usually will often require an individually recommended study programs. They should contact the Student Centre or the School of Risk and Actuarial Studies for advice if needed.

8411 - Full time student - Semester 1 entry with no exemptions or advanced standing wishing to complete Part I of The Institute of Actuaries Professional Syllabus.

Students with no actuarial background wishing to complete only Part I professional courses should enroll in 8411 Master of Actuarial Studies. If they wish to complete both Part I and Part II and also the Part III ERM courses then they should enroll in 8416 Master of Actuarial Studies (Extension).

Students who have completed the Part I (at least 6 of the 8 CT courses) should enroll in 8411 Master of Actuarial Studies.
Semester 1
Semester 2
Semester 3
ACTL5101
ACTL5102
ECON5103*
ACTL5108*
ACTL5103
ACTL5106
ACTL5109
ACTL5302 (or other elective)
ACTL5104
ACTL5105
ACTL5301
ACTL5002 (or other elective)

*Students with exemptions/credits from these core courses need only complete 3 courses in 2 of the semesters. They should include ACTL5002 Superannuation and Retirement Benefits (or other elective) in the first session of the program.


8411 Part-Time student - completed Part I - studying Part II Part III ERM module courses (ACTL5301 and ACTL5302) and aiming to complete the 3 Modules of the Part III Fellowship of the Australian professional actuarial syllabus. Exemptions granted from the Core.
Semester 1
Semester 2
Semester 3
Semester 4
 
ACTL5100
ACTL5302
ACTL5200
ACTL5302
ACTL5002
ACTL5301
ACTL5303
RISK5009
(or other elective)


Academic Rules

  1. A Master of Actuarial Studies may be awarded by the Council to a candidate who has satisfactorily completed an approved program of study having completed 12 courses (72 UOC) (includes credits transferred)
  2. Complete 4 core courses and 8 elective courses
  3. A candidate for the degree shall be required to undertake such formal courses and pass such
  4. assessment as is prescribed.
  5. If you require a progression check for your degree, complete an online request at
  6. www.unsw.business.unsw.edu.au/onlineforms"
  7. If you require a progression check for your degree, complete an online request form: www.business.unsw.edu.au/onlineforms

Fees

For information regarding fees for UNSW programs, please refer to the following website:  UNSW Fee Website.

Entry Requirements

To be eligible for the program, you must have:
A recognised bachelor degree (or equivalent qualification) with a credit average as determined by the UNSW Postgraduate Coursework Entry Calculator; and
A major (at least seven courses) in actuarial studies; or
A major (at least seven courses) in econometrics; or
A major (at least seven courses) in mathematics or statistics

Recognition of prior learning or professional recognition

Up to 4 courses credits (24 UOC) may be granted (towards the 4 core courses) based on your previous studies in actuarial studies (bachelor or higher). Additional course credits (up to 2 courses) may be awarded based on an incomplete postgraduate degree and/or professional examinations for the Fellowship of the Institute of Actuaries of Australia, the Institute of Actuaries (UK) or the Society of Actuaries

Professional Accreditation

The Institute of Actuaries of Australia

The Master of Actuarial Studies is fully accredited by the Institute of Actuaries of Australia for both Part I and Part II subjects and recognised for exemptions by the Institute of Actuaries (London) for the Core Technical subjects. For more details please refer to the Professional Recognition of Programs in the Online Handbook or by contacting The Institute of Actuaries of Australia.

Further Information

Please note that these requirements may be subject to change.

The rules and program structures relevant to you are directly related to those outlined in the year when you commenced your program. Please refer to the previous handbook editions for these structures and rules.

If you are a current student seeking support from the program coordinator please refer to the Program Coordinators list on the UNSW Business School Website:

Current Students

Contact the UNSW Business School Student Centre for advice.
Tel: + 61 2 9385 3189
Location: Level 1, room 1028, Quadrangle Building

Forms, policies and procedures
Frequently asked questions

Prospective Students

Contact UNSW Business School Student Recruitment Team for program advice:
Tel: +61 2 9385 3507
Email: studybusinessinfo@unsw.edu.au