Actuarial Studies (Honours) - 4520
Program Summary
Faculty: UNSW Business School
Contact: UNSW Business School Student Centre
Campus: Sydney
Career: Undergraduate
Typical Duration: 1 Years 
Typical UOC Per Semester: 24
Min UOC Per Semester: 6
Max UOC Per Semester: 24
Min UOC For Award: 48
Domestic Entry Requirements: See Domestic Entry Requirements
International Entry Requirements: See International Entry Requirements
Award(s):
Bachelor of Actuarial Studies (Honours)
View program information for previous years
Program Description
The Bachelor of Actuarial Studies (Honours) is a one year advanced undergraduate degree for high-achieving students which may be undertaken upon completion of the requirements of an undergraduate pass degree. The program enables students to expand and deepen their understanding of actuarial studies and develop highly sought after analytical, problem solving and research skills through undertaking a significant independent research thesis. The program may be a pathway into a PhD.
Program Benefits:
Competitive advantage, higher chances of immediately getting employed upon completion, increased career options - either in academia, business, government or applied research through gaining:
- Advanced analytical and problem solving skills required for specialist careers in business and government.
- Highly sought after research, project management and communication skills in as well as advanced knowledge of the relevant discipline.
Program Objectives and Graduate Attributes
On completion of the Bachelor of Actuarial Studies (Honours) students will have the ability to:
- Apply a highly developed understanding of the theoretical concepts and body of knowledge in one or more disciplines to address a research topic.
- Reflect critically on existing knowledge, ideas and practice with the relevant field to address a research topic.
- Plan and execute a piece of research with some independence.
- Communicate research ideas effectively in oral presentations and in writing.
Program Structure
The B Actuarial Studies (Honours) is a 48 UOC degree normally completed over 1 year of study. The 48 UOC consists of:
- 24 UOC (4 courses) of advanced coursework in the relevant discipline.
- 24 UOC thesis.
Coursework (24 UOC)
Compulsory course:
Compulsory course:
PLUS three elective courses (18 UOC) from
- Any relevant course at Honours or Masters level in, e.g., RISK, ECON, FINS or MATH.
Thesis (24 UOC)
The thesis, ACTL4000 is an independent piece of research which can either be empirical, theoretical or computational and will be worth 24 UOC. The thesis is completed under the supervision of academic(s) within the School of Risk and Actuarial Studies. In addition to the written thesis, students will be required to give oral presentations throughout the honours year in which they will outline and defend their thesis proposal or their finished research to a group of their peers and school academics.
The thesis will be marked by two independent examiners who are appointed by the Honours Co-ordinator in consultation with the HoS / School Honours Committee. The final thesis mark will normally be the average of the examiners’ recommendations.
The thesis, ACTL4000 is an independent piece of research which can either be empirical, theoretical or computational and will be worth 24 UOC. The thesis is completed under the supervision of academic(s) within the School of Risk and Actuarial Studies. In addition to the written thesis, students will be required to give oral presentations throughout the honours year in which they will outline and defend their thesis proposal or their finished research to a group of their peers and school academics.
The thesis will be marked by two independent examiners who are appointed by the Honours Co-ordinator in consultation with the HoS / School Honours Committee. The final thesis mark will normally be the average of the examiners’ recommendations.
Honours Mark and Classes of Honours
The Honours mark for the awarding of the class of Honours is based on all components of the program, with weighting of 50% coursework and 50% thesis in line with their UOC.
Honours will be awarded in the following classes:
- Class 1: WAM of 85 and over
- Class 2(1): WAM of 75 to less than 85
- Class 2(2): WAM of 65 to less than 75
- Class 3: WAM of 50 to less than 65
University Medal
An honours student may be nominated for a University Medal in line with the University Medal Policy and University Medal Procedure.
An honours student may be nominated for a University Medal in line with the University Medal Policy and University Medal Procedure.
Academic Rules
To be awarded the degree, the BActSt (Hons) program must contain:
1. A minimum of 48 units of credit (UOC).
2. A minimum of 24 UOC of coursework
3. A 24 UOC of thesis.
1. A minimum of 48 units of credit (UOC).
2. A minimum of 24 UOC of coursework
3. A 24 UOC of thesis.
Mid-year review
In some circumstances students will be required to undertake a formal mid-year review of their progress. This will be initiated if:
- They have a weighted average mark (WAM) for Session 1 of less than 70; and/or
- They have a mark for ACTL4003 Research Methods in Actuarial Studies of less than 70; and/or
- They have a fail mark in any of their Session 1 courses; and/or
- Their supervisor requests such a review.
The review is conducted by the School Research Committee in consultation with the supervisor(s). If the outcome of the review is negative, students may be removed from the Honours year and either graduate with Pass (not Honours) degree, or transfer some completed Honours courses to a suitable Masters, if possible.
Fees
For information regarding fees for UNSW programs, please refer to the following website: UNSW Fee Website.
Entry Requirements
To be admitted into the Bachelor Actuarial Studies (Honours) program, a student must have completed a pass degree, normally the Bachelor of Actuarial Studies degree or equivalent. A student in a dual degree may gain entry to the Bachelor Actuarial Studies (Honours) prior to completing the requirements for the dual degree program if they have completed 144 UOC including all requirements for the relevant major. Students who have completed a non-business degree with a major in one of the specified business areas, or a specified cognate area, may be eligible to complete honours within this program.
In addition to the above requirements set by the UNSW Business School for enrolment in the program, the School of Risk and Actuarial Studies expects applicants to:
In addition to the above requirements set by the UNSW Business School for enrolment in the program, the School of Risk and Actuarial Studies expects applicants to:
- Be eligible for exemption from all Part I courses from the Actuaries Institute;
- Have a weighted average mark (WAM) of at least 80 in all core actuarial courses (the core courses are the ones that are considered for the purpose of exemption from the Part I examinations of the Actuaries Institute) in the degree in which they are currently enrolled;
- Have a weighted average mark (WAM) of at least 80 in the degree in which they are currently enrolled.
Students who have failed a course within their pass degree will not gain entry to the Bachelor of Actuarial Studies (Honours) program.
The availability and willingness of a supervisor to work with the candidate is another important criterion for successful admission to the program. The number of students accepted to the Bachelor of Actuarial Studies (Honours) program is dependent on the availability of supervisors in the school. If there are more applicants than the school can accommodate, admission will be determined according to students' academic merit. Hence meeting the academic requirements of the program does not guarantee a place in the program. Mid-year entry is not permitted.
The availability and willingness of a supervisor to work with the candidate is another important criterion for successful admission to the program. The number of students accepted to the Bachelor of Actuarial Studies (Honours) program is dependent on the availability of supervisors in the school. If there are more applicants than the school can accommodate, admission will be determined according to students' academic merit. Hence meeting the academic requirements of the program does not guarantee a place in the program. Mid-year entry is not permitted.
How to Apply
Students intending to apply to the Honours programs must first discuss their eligibility and study program with the Honours Coordinator in the the School of Risk and Actuarial Studies prior to submitting an application.
Domestic applicants:
Internal domestic applicants should forward a completed application form to the Honours Coordinator. This application is to be accompanied with the required supporting documents as detailed below:
1. A 4-6 page pre-proposal. This document must outline:
a. The topic of the proposed research project;
b. A motivation for this research project (this may be included in d. or e. as appropriate);
c. A short review of the relevant literature;
d. An outline of the proposed research questions and expected contributions;
e. A discussion of the importance and significance of those expected outcomes.
2. An up-to-date curriculum vitae;
3. For non-UNSW applicants only:
a. A full transcript of all completed courses to date;
b. Proof of Part I completion or exemption eligibility;
c. Any other document as requested by the Honours Coordinator.
International applicants:
Internal international applicants should contact the Business School Student Centre for details of the application process.
External international applicants should apply directly through UNSW Apply Online attaching all relevant additional documentation.
For more information about the application procedure, applicants should contact the Risk and Actuarial Studies Honours Coordinator.
Domestic applicants:
Internal domestic applicants should forward a completed application form to the Honours Coordinator. This application is to be accompanied with the required supporting documents as detailed below:
1. A 4-6 page pre-proposal. This document must outline:
a. The topic of the proposed research project;
b. A motivation for this research project (this may be included in d. or e. as appropriate);
c. A short review of the relevant literature;
d. An outline of the proposed research questions and expected contributions;
e. A discussion of the importance and significance of those expected outcomes.
2. An up-to-date curriculum vitae;
3. For non-UNSW applicants only:
a. A full transcript of all completed courses to date;
b. Proof of Part I completion or exemption eligibility;
c. Any other document as requested by the Honours Coordinator.
International applicants:
Internal international applicants should contact the Business School Student Centre for details of the application process.
External international applicants should apply directly through UNSW Apply Online attaching all relevant additional documentation.
For more information about the application procedure, applicants should contact the Risk and Actuarial Studies Honours Coordinator.
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