Actuarial courses require a sound knowledge of mathematics and statistics. Since actuaries measure and analyse the financial impact of risk and uncertainty, the courses are based on developing an understanding of the application of mathematical models based on insurance and financial mathematics. Actuaries aim to evaluate the likelihood of future events and to evaluate the risks that insurers, superannuation funds, banks, businesses and individuals face.
As a broad based business discipline, Actuarial Studies combines studies in mathematics, statistics, accounting, economics, finance and their application to financial management in general insurance, health insurance, life insurance, superannuation, funds management, banking and finance.
Risk management aims to provide a framework for risk decision making and the required tools and knowledge of the business environment.