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Actuarial Studies - ACTLBH3502
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Plan Outline
Plan Structure
Academic Rules
Entry Requirements
How To Apply
Professional Recognition

Plan Summary

 
Faculty: COMM - Faculty of Commerce & Econ
 
 
School: 
 
 
Contact: http://www.actuarial.unsw.edu.au
 
 
Program: 3502 - Commerce
 
 
Award(s):
 
 
Bachelor of Commerce (Honours)
 
 

Plan Outline

The B.Com (Honours) program in Actuarial Studies allows students who have achieved above average grades in their B.Com degree to complete an additional year during which they
  • Develop research skills and complete courses in an advanced area of Actuarial Studies
  • Research, write and present a thesis, and
  • Complete the Part II professional subjects of the Institute of Actuaries of Australia.
Completing the B.Com (Honours) will allow students to specialise their knowledge of an area of Actuarial Studies through research.

This will allow students who achieve high grades in the Honours program to meet the requirements to enrol in a PhD research degree.

Plan Structure

  • For a single major complete 48UOC comprising of the four required actuarial studies courses and four courses from List A
  • For double major, complete 42UOC comprising of the four required actuarial studies courses and three courses from List A.
  • For a minor, students must complete the four required actuarial studies courses.
Note: The actuarial studies major requires students to substitute the below approved Mathematics courses in place of core required courses ECON1202 Quantitative Methods A and ECON1203 Quantitative Methods B
  • MATH1131 Mathematics 1A OR MATH1151 for Actuarial Studies and Finance 1A
  • MATH1231 Higher Mathematics 1B OR MATH1251 Maths for Actuarial Studies & Finance 1B
Please note that to obtain maximum professional actuarial course exemptions, all four ACTL options in List A should be completed and ACCT2542, ECON2101/ECON2102 and FINS1613 from List B.

Required Courses

List A

List B

Required Courses in Year 4
PLUS one other course from the Options list below:

Options

Academic Rules

Rule 4

4 For the Honours degree, a student must complete a further 48 units in an approved disciplinary stream.

4.1 Honours may be taken in one disciplinary stream only

4.2 The additional units, comprising specified courses from the relevant disciplinary stream and a thesis, must be completed in two sessions following the completion of the Pass degree component.

4.3 Honours degree will not be awarded if academic performance is below the prescribed level.

4.4 Except when recommended to the contrary by the relevant Head of School, a student intending to enter the Honours year must:

4.4.1 satisfy the Pass degree requirements and obtain a minimum average of 70% in Level 2 and Level 3 courses of the relevant disciplinary stream in the Pass degree component,

4.4.2 pass all courses in the Pass degree component at first attempt.

4.5 Except with the special permission of the program authority on the recommendation of the relevant Heads of School, a person on whom the Pass degree of Bachelor of Commerce or equivalent has been conferred shall not be admitted to candidature for the Honours degree of Bachelor of Commerce.

Entry Requirements

Students applying for the Actuarial Honours Program must have obtained a minimum average of 71% in their year 2 and 3 courses in the Actuarial major.

How To Apply

Students who are interested in the Honours program in Actuarial Studies should contact the Actuarial Studies Office before Session 2 of their final year of the B.Com to discuss their program:

Actuarial Studies Office
Ground Floor, John Goodsell Building, Rm G31
Faculty of Commerce and Economics
The University of New South Wales
Sydney NSW 2052
Australia
Tel: +61 2 9385 1886

For further information contact

Honours Coordinator for Actuarial Studies
Dr Ji-Wook Jang
Ground Floor, John Goodsell Building, Rm G35
Tel: + 61 2 9385 3360
E-mail: j.jang@unsw.edu.au

Professional Recognition

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, professional examinations. Fellows of The Institute of Actuaries of Australia, the Institute of Actuaries or Faculty of Actuaries (UK), or the Society of Actuaries (North America) can practise as actuaries in Australia.

Students intending to enter the actuarial profession should normally have completed 4-unit mathematics or obtained a high mark in 3-unit mathematics and should be aiming to obtain at least an average 70% mark in their University studies. Experience has shown that the higher your UAI or equivalent, the better your chances of success in meeting the standard for exemption from the professional actuarial examinations (95 and above is often recommended).

To qualify as an actuary in Australia requires the completion of, or exemption from, subjects in the professional syllabus of the Institute of Actuaries of Australia.

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.

Qualification as an Associate of The Institute of Actuaries of Australia (AIAA) is attained on completion of the subjects in Parts I and II.
  • Part I is covered by the relevant subjects in the actuarial disciplinary stream in the Bachelor of Commerce.
  • Part II is studied after graduating or in an honours year and is made up of a full year subject which covers actuarial principles and actuarial practice.
  • Part III consists of two subjects completed by distance education through The Institute of Actuaries of Australia usually on a part-time basis after completing the Part I and Part II subjects. Students select these two subjects from the five practice areas of Investment Management, Life Insurance, General Insurance, Superannuation and Finance
The following courses at UNSW correspond to the Part I and Part II subjects of the IAAust professional examinations:
UNSW Course
Professional Subject
CT3 Probability and Mathematics Statistical
CT1 Financial Mathematics
None
CT4 Models
CT5 Contingencies
CT6 Statistical Methods
CT7 Economics
CT2 Finance and Financial Reporting
CT8 Financial Economics
Part II
Part II


 
 
 
 
 

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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.