The Australian School of Business' actuarial program is accredited by the Actuaries Institute in Australia and recognised for exemptions for core technical subjects of the Institute and Faculty of Actuaries in the UK.
Our programs are also recognised for Validation by Educational Experience (VEE) by the North American Society of Actuaries and Casualty Actuarial Society.
The profession of actuary is one of the oldest in the financial world. It is highly regarded and requires the completion of, or exemption from, examinations set by the professional bodies.
The Actuaries’ Institute, the Institute and Faculty of Actuaries (UK), the Society of Actuaries (North America) and the Actuarial Society of South Africa have mutual recognition arrangements that allow qualified Fellows to practise as fully qualified actuaries in their respective countries – with appropriate experience requirements. Qualified actuaries can also practise in many other countries without taking any additional examinations.
To qualify as an actuary in Australia requires the completion of, or exemption from, subjects in the professional syllabus of the Actuaries Institute. Qualification as a Fellow of the Institute of Actuaries of Australia (FIAA) requires the completion of subjects in Parts I, II and III of the professional examinations, and completion of a professionalism course. Qualification as an Associate of the Institute of Actuaries of Australia (AIAA) is attained on completion of the subjects in Parts I and II, three years practical experience and completion of a Professionalism Course.
Part I - covered by the relevant subjects in the Bachelor of Actuarial Studies or Master of Actuarial Studies
Part II - covered by ACTL4001, ACTL4002 and ACTL4303 in fourth year or ACTL5100, ACTL5200 and ACTL5303 in the Masters courses
Part III - consists mostly of modules completed by distance education through the Actuaries Institute usually on a part-time basis after completing the Part I and Part II subjects.
Applications to Enter Part II - Professional Examinations of the Actuaries Institute in 2013
At UNSW, students will need to complete the following courses and obtain an average of 75% to be recommended for Part II exemption:
- ACTL4001 or ACTL5100 Actuarial Theory and Practice A, and
- ACTL4002 or ACTL5200 Actuarial Theory and Practice B, and
- ACTL4303 or ACTL5303 Asset Liability Management
- You need to have gained exemption from all part I courses, or have completed 6 of the courses with an average mark of at least 70%
- You need to gain at least 70% in ACTL4001 or ACTL5100 to be admitted to ACTL4002 or ACTL5200
Applications and information can be downloaded for:
- Continuing students for enrolment in current PG & UG programs
- Prospective students for enrolment in MActSt or MActSt Extn program
For further information please contact the ASB Student Centre
Find out more on the relationship between the UNSW and Actuaries Institute courses on the Applying for exemption recommendation page.