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Actuarial Studies (Extension) - 8416
Actuarial lecture
Program Description
Program Objectives
Program Structure
Academic Rules
Fees
Entry Requirements
Professional Accreditation
Further Information
Area(s) of Specialisation

Program Summary

 
Faculty: Australian School of Business
 
 
Contact:  Australian School of Busi
 
 
Campus: Kensington Campus
 
 
Career: Postgraduate
 
 
Typical Duration: 2 Years
 
 
Typical UOC Per Semester: 24
 
 
Min UOC Per Semester: 6
 
 
Max UOC Per Semester: 24
 
 
Min UOC For Award: 96
 
 
Award(s):
 
 
Master of Actuarial Studies (Specialisation)
 
 

Program Description

Need information on our business programs? Start your search at the Australian School of Business website.

The Master of Actuarial Studies (Extension) enables students from a wide range of academic and professional backgrounds to study an advanced program in actuarial studies covering the syllabus of the actuarial profession. The MActSt (Ext) lengthens the MActSt allowing students to include an additional 4 courses (24UOC) from the more advanced postgraduate actuarial studies courses or to include course options from related disciplines in the university such as economics, finance, or statistics.

Graduates in mathematics, engineering and science disciplines who are interested in applying their mathematical skills in business can study courses to prepare them for an actuarial career. Graduates from commerce and economics disciplines can also study courses to allow them to enter the actuarial profession in the program. Commerce and economics graduates will be required to have a strong mathematical background, such as would be obtained from studying econometrics, mathematical economics or mathematical finance.

For graduates of an undergraduate program in Actuarial Studies, the Master of Actuarial Studies allows them to complete courses equivalent to the Part I professional courses that they have yet to complete. They can also complete the Part II courses of the Institute of Actuaries of Australia and include optional courses to assist with the later professional Fellowship examinations. They can also broaden their actuarial training by including relevant courses in the Faculty at postgraduate level in other disciplines through selection of electives.

The Master of Actuarial Studies allows graduates 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 Learning Outcomes

On successful completion of the MActSt (Extension), students will have the ability to:
  • demonstrate an understanding of the key concepts in actuarial studies and related fields
  • demonstrate a broad understanding of topics relevant to actuarial studies beyond the stipulated courses
  • apply actuarial techniques to address specific business situations
  • apply critical thinking and analytical skills to solve actuarial problems
  • communicate concisely, accurately, and confidently to a range of audiences in written and oral format

Program Structure

The MActSt (Extension) program is taught on-campus. The typical duration is 2 years full-time or 4 years part-time.

The program requires 16 courses each of 6 units of credit to be completed, 4 core courses and 12 electives selected from the courses offered in actuarial studies.

Core courses

Elective courses
Twelve elective courses will be selected from the following actuarial courses:

Academic Rules

  • Please refer to Program Structure for the Academic requirements relating to this program.
  • Postgraduate courses offered by the Australian School of Business or by other Faculties within the University may be substituted for up to 6 courses (either in the core or as elective courses) with the approval of the Director of the Program.
  • Advanced standing may be granted for similar courses already completed but not used for another award up to a maximum of six courses including any exemptions.
  • Courses covered in a completed undergraduate program equivalent to those in the core may be granted exemption from the corresponding core courses up to a maximum of 4 core courses.
  • Students completing the examinations for the Fellowship of the Institute of Actuaries of Australia, the Institute of Actuaries (UK) or the Society of Actuaries through the professional examinations may receive up to two exemptions in addition to those granted for the core courses (up to 4). They will be required to complete at least 10 courses in the program.

Fees

For information regarding fees for UNSW programs, please refer to the following website:  https://my.unsw.edu.au/student/fees/FeesMainPage.html

Entry Requirements

Applicants without a strong mathematical background may be advised to complete the Institute of Actuaries Foundation course, and demonstrate adequate mathematical performance on the self-assessed test.

Session 2 courses in Actuarial Studies assume that students have the required background knowledge from previous studies. Prospective students who plan to commence in Session 2 should consult the Actuarial Studies School office prior to application in order to determine if they have the required background. Students who have a very strong background in Mathematics, Statistics, Econometrics or Finance and Financial Mathematics may be allowed to enrol in the 2nd session Actuarial Studies courses. Approval must be obtained from Actuarial Studies before enrolling in these courses.

Please refer to the Australian School of Business website for further detail.

Professional Accreditation

The Institute of Actuaries of Australia

The UNSW actuarial program 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.
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 Australian School of Business Student Centre for advice.
tel: + 61 2 9385 3189
location: Ground Floor, West Wing, Australian School of Business Building
Forms, policies and procedures
Frequently asked questions

Area(s) of Specialisation

URL for this page:

© 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.