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Actuarial Studies - ACTLAD3502

Plan Summary

Faculty: COMM - Australian School of Business
Program: 3502 - Commerce
Bachelor of Commerce (Double Major)

Plan Outline

Actuarial studies involves the application of quantitative, economic and financial models and analysis to long term financial management particularly in life insurance, general insurance, health insurance, and superannuation as well as in other financial services.

The actuarial courses cover the models used to quantify and manage risks such as survival, birth, marriage, sickness, retirement, accident, fire, flood, asset default and asset value fluctuations and to study their financial effect on the obligations of insurance companies, benefit plans and other financial security systems. The courses provide the foundations for actuarial practice in the pricing, reserving, investment, and financial management of life insurance, general insurance superannuation and pension funds.

The actuarial program of study also aims to develop the use of judgement and to provide the necessary combination of mathematical, statistical, accounting, economic, financial, demographic, analytical and modelling skills for a rewarding career in the financial services industry.

There is a strong demand for quantitatively trained commerce graduates with an actuarial studies major. There is also a growing demand for commerce graduates who combine specialist actuarial training with majors in other fields.

Plan Structure

  • For a double major, 42 UOC (7 courses) must be completed.
  • A minor consists of 24 UOC (4 courses) containing at least 6 UOC at level 3. The minor does not form part of the nominated major.
Where the requirement to complete ECON1203 Quantitative Methods B exists, Actuarial Studies students should complete the following courses instead:

Compulsory courses
ACTL2002 Prob & Stat for Actuaries is required to meet the statistics component of the Bachelor of Commerce program.

Elective courses
Please note that to obtain maximum professional actuarial course exemptions, the compulsory ACTL courses should be completed and FINS1613 Business Finance .


Honours level study is available in Actuarial Studies.

Students interested in studying at Honours Level should refer to the relevant Honours plan record for entry requirements.

Professional Recognition

The Institute of Actuaries of Australia

The UNSW actuarial program is fully accredited by the Institute of Actuaries of Australia 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.
Students are advised to follow requirements according to the year they commenced. Please refer to previous editions of the Online Handbook for your program requirements.

Contact the Business Student Centre for advice.
tel: + 61 2 9385 3189
location: Ground Floor, West Wing, Australian School of Business Building

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© The University of New South Wales (CRICOS Provider No.: 00098G), 2004-2011. The information contained in this Handbook is indicative only. While every effort is made to keep this information up-to-date, the University reserves the right to discontinue or vary arrangements, programs and courses at any time without notice and at its discretion. While the University will try to avoid or minimise any inconvenience, changes may also be made to programs, courses and staff after enrolment. The University may also set limits on the number of students in a course.