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.

Students wishing to complete a major in Actuarial Studies should complete

instead of ECON1202 Quantitative Methods A and ECON1203 Quantitative Methods B

Students must also complete ACTL2002 Prob & Stat for Actuaries to meet requirements for the statistics component of the Bachelor of Commerce program.

Please note that to obtain maximum professional actuarial course exemptions, the first four ACTL options in List A should be completed and FINS1613.

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.

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.

Please note that these requirements may be subject to change. Students are advised to follow requirements according to the year they commenced. Current students are to refer to previous editions of the Online Handbook for program requirements.

Please contact the Business Student Centre for advice.

Business Student Centre
e-mail: ugbusiness@unsw.edu.au
tel: + 61 2 9385 3189
location: Ground Floor, West Wing, Australian School of Business Building