Actuarial Studies / Science - 3154
Program Summary
Faculty: UNSW Business School
Contact: UNSW Business School Student Centre
Campus: Sydney
Career: Undergraduate
Typical Duration: 4 Years 
Typical UOC Per Semester: 24
Min UOC Per Semester: 6
Max UOC Per Semester: 24
Min UOC For Award: 192
UAC Code: 424350
Domestic Entry Requirements: See Domestic Entry Requirements
International Entry Requirements: See International Entry Requirements
Award(s):
Bachelor of Actuarial Studies
Bachelor of Science
View program information for previous years
Program Description
If you are a prospective student researching your study options, please visit UNSW Business School website for more information.
The Bachelor of Actuarial Studies / Bachelor of Science is a 4 year dual degree program which will meet the needs of students wanting a program of study in science, complemented with a strong, focused actuarial studies program. As part of this program students will complete a major stream in science, and a sequence of actuarial studies courses within the UNSW Business School.
With approval, students with an appropriate academic record may also enrol in a separate 1 year Honours program in the field of actuarial studies, or a separate 1 year Honours program within UNSW Science.
Program Objectives and Graduate Attributes
On successful completion of the BActSt component, students will be able to:
- demonstrate business knowledge and apply that knowledge in businessproblems
- demonstrate critical thinking and problem solving skills
- present complex issues in coherent written statements and oral presentations
- demonstrate understanding of actuarial issues in a local or global context
- demonstrate understanding of the principles of working collaboratively in teams
- demonstrate understanding of the social and ethical dimensions in actuarial work.
The Bachelor of Science component has been designed to:
- develop a working knowledge of scientific methods of investigation
- encourage curiosity and creative imagination, and an appreciation of the role of speculation in the selection and solution of problems, the construction of hypotheses, and the design of experiments
- develop an appreciation of scientific criteria and a concern for objectivity and precision
- develop confidence and skill in formulating problems and in treating both qualitative and quantitative data
- develop the ability and disposition to think logically, to communicate clearly by written and oral means, and to read critically and with understanding
- develop the habit of seeking and recognising relationships between phenomena, principles, theories, conceptual frameworks and problems
- promote understanding of the significance of science, technology, economics and social factors in modern society, and of the contributions they can make in improving material conditions
- provide opportunities for the development of students' motivations and social maturity, and an awareness of their capabilities in relation to a choice of career which will be fruitful to themselves and to society
- provide an opportunity to study science in combination with other disciplines
Program Structure
Studies leading to the award of the Bachelor of Actuarial Studies/Bachelor of Science combined degree normally consist of 192 UOC or 32 courses to be completed over 4 academic years. Where the requirements for the two programs are completed in less than 192 UOC due to overlapping courses, students may satisfy the remaining units of credit from those offered by the UNSW Business School or from within UNSW Science.
Bachelor of Actuarial Studies component:
Students are required to complete at least 96 UOC consisting of:
Bachelor of Actuarial Studies component:
Students are required to complete at least 96 UOC consisting of:
- Compulsory first and second year courses
- Third year elective courses from Actuarial Studies
- Three elective courses (18 UOC) from Actuarial Studies or the UNSW Business School.
Compulsory courses (72 UOC):
- ACCT1501 Accounting & Financial Mgt 1A (6 UOC)
- ACCT1511 Accounting & Financial Mgt 1B (6 UOC)
- ACTL1101 Intro Actuarial Studies (6 UOC)
- ACTL2102 Foundation of Actuarial Models (6 UOC)
- ACTL2111 Financial Maths for Actuaries (6 UOC)
- ACTL2131 Probability & Math Stat (6 UOC)
- ECON1101 Microeconomics 1 (6 UOC)
- ECON1102 Macroeconomics 1 (6 UOC)
- FINS1613 Business Finance (6 UOC)
- MATH1151 Maths - Actuarial & Finance 1A (6 UOC)
- MATH1251 Maths - Actuarial & Finance 1B (6 UOC)
- MGMT1001 Managing Organisations&People (6 UOC)
Students may replace ACTL2131 with the two courses MATH2901 Higher Theory of Statistics and MATH2931 Higher Linear Models. If students make this replacement, the first of these courses (i.e. MATH2901) will count towards the compulsory course requirement, and the second course can be counted towards another major or minor or as an elective. Note that a minimum of 96 UOC must be completed in UNSW Business School courses for the Bachelor of Actuarial Studies.
Third year elective courses from Actuarial Studies (18 UOC) are to be selected from:
Third year elective courses from Actuarial Studies (18 UOC) are to be selected from:
- ACTL3141 Actuarial Models & Statistics (6 UOC)
- ACTL3142 Actuarial Data and Analysis (6 UOC)
- ACTL3151 Life Contingencies (6 UOC)
- ACTL3162 General Insurance Techniques (6 UOC)
- ACTL3182 Asset-Liability & Derivatives (6 UOC)
- ACTL3191 Super and Retirement Benefits (6 UOC)
- ACTL3192 Retirement Saving and Spending (6 UOC)
Three additional Elective courses (18 UOC) from the School of Actuarial Studies, or from courses offered by another school in the UNSW Business School, must be completed to satisfy the depth component.
Click here to view the Progression Plan for your Actuarial Studies program
Bachelor of Science component:
Students are required to complete at least 96 UOC for the Bachelor of Science component, consisting of:
Click here to view the Progression Plan for your Actuarial Studies program
Bachelor of Science component:
Students are required to complete at least 96 UOC for the Bachelor of Science component, consisting of:
- BSc Major requirements
- Science Electives courses
BSc major requirements: Completion of the required courses for a major in one approved Science discipline. Majors in the Bachelor of Science range from 60 UOC to 90 UOC. Please refer to the majors available in the 3970 Bachelor of Science program page.
Science elective courses: These will typically account between 6 and 36 UOC in ‘science’ courses to ensure a student completes 96 UOC for the BSc component. The exact number of additional 'science' courses to be completed will depend on the major chosen. For details of what courses constitute ‘Science’ courses, please see the 3970 Bachelor of Science program page.
Other requirements: Students may not include more than 96 UOC of level I courses overall.
Science elective courses: These will typically account between 6 and 36 UOC in ‘science’ courses to ensure a student completes 96 UOC for the BSc component. The exact number of additional 'science' courses to be completed will depend on the major chosen. For details of what courses constitute ‘Science’ courses, please see the 3970 Bachelor of Science program page.
Other requirements: Students may not include more than 96 UOC of level I courses overall.
Honours
BActSt
High achieving students may apply to undertake honours. Honours is a separate 1 year program of full-time study which provides students with advanced knowledge of their chosen field and develops research and communication skills. Students will need to complete advanced courses/seminars and a thesis.
B Science
Candidates for Honours in the Science component of the combined degree program will need to consult the relevant School in which they wish to undertake the separate 1 year program of full time studies prior to their third year of study.
High achieving students may apply to undertake honours. Honours is a separate 1 year program of full-time study which provides students with advanced knowledge of their chosen field and develops research and communication skills. Students will need to complete advanced courses/seminars and a thesis.
B Science
Candidates for Honours in the Science component of the combined degree program will need to consult the relevant School in which they wish to undertake the separate 1 year program of full time studies prior to their third year of study.
Academic Rules
Requirements for the Bachelor of Actuarial Studies in dual degree mode
(96 UOC):
Content of Program
To be awarded a degree at Pass level, the BActSt must contain (as a dual degree):
1. 96 UOC in compulsory and elective courses. These include 72 UOC of compulsory courses, and at least 18 UOC of elective Level 3 actuarial studies courses.
2. A minimum of 84 UOC of courses offered by the UNSW Business School.
Progression rules
3. A minimum of 24 UOC courses must be completed before enrolling in Level 2 courses.
4. A minimum of 72 UOC courses must be completed before enrolling in Level 3 courses.
Awarding degree
5. A Pass degree with Distinction may be awarded if a student achieves a minimum of 75 WAM across the program and completes a minimum of 72 UOC at UNSW.
Academic rules relating to the Bachelor of Science in dual mode are as
follows:
1. Students must complete a minimum of 96 units of credit;
2. Students must complete at least one approved Bachelor of Science major, and this must be declared before enrolling in Level II courses (see the 3970 Bachelor of Science page for approved majors). Information about how to declare a major can be found on the Science Student Centre website.
3. Students may choose to complete an optional minor using their Science electives (see the 3970 Bachelor of Science page for the list of approved minors).
Students cannot complete a minor with the same name as their nominated major, and Level II and III courses cannot be double-counted between majors and minors. More than one minor may be completed subject to the limit on double-counting. Students must declare their minor(s) before their final semester.
4. In addition to the courses required for a student's chosen major, students must take 'Science' courses so that the major plus 'Science' courses total 96 UoC. ‘Science’ courses are listed in Table 1 on the 3970 Bachelor of Science page.
5. Students must complete at least 24 UoC of Level I ‘Science’ courses. ‘Science’ courses are listed in Table 1 of the 3970 Bachelor of Science page.
6. Students may not enrol into Level II courses until at least 30 UoC of Level I courses have been successfully completed.
7. Students may not enrol into Level III courses until at least 72 UoC of courses have been successfully completed.
(96 UOC):
Content of Program
To be awarded a degree at Pass level, the BActSt must contain (as a dual degree):
1. 96 UOC in compulsory and elective courses. These include 72 UOC of compulsory courses, and at least 18 UOC of elective Level 3 actuarial studies courses.
2. A minimum of 84 UOC of courses offered by the UNSW Business School.
Progression rules
3. A minimum of 24 UOC courses must be completed before enrolling in Level 2 courses.
4. A minimum of 72 UOC courses must be completed before enrolling in Level 3 courses.
Awarding degree
5. A Pass degree with Distinction may be awarded if a student achieves a minimum of 75 WAM across the program and completes a minimum of 72 UOC at UNSW.
Academic rules relating to the Bachelor of Science in dual mode are as
follows:
1. Students must complete a minimum of 96 units of credit;
2. Students must complete at least one approved Bachelor of Science major, and this must be declared before enrolling in Level II courses (see the 3970 Bachelor of Science page for approved majors). Information about how to declare a major can be found on the Science Student Centre website.
3. Students may choose to complete an optional minor using their Science electives (see the 3970 Bachelor of Science page for the list of approved minors).
Students cannot complete a minor with the same name as their nominated major, and Level II and III courses cannot be double-counted between majors and minors. More than one minor may be completed subject to the limit on double-counting. Students must declare their minor(s) before their final semester.
4. In addition to the courses required for a student's chosen major, students must take 'Science' courses so that the major plus 'Science' courses total 96 UoC. ‘Science’ courses are listed in Table 1 on the 3970 Bachelor of Science page.
5. Students must complete at least 24 UoC of Level I ‘Science’ courses. ‘Science’ courses are listed in Table 1 of the 3970 Bachelor of Science page.
6. Students may not enrol into Level II courses until at least 30 UoC of Level I courses have been successfully completed.
7. Students may not enrol into Level III courses until at least 72 UoC of courses have been successfully completed.
Double Majors and Minors in Dual Degrees
Students who intend to complete a double major or a major combined with a minor in the Bachelor of Science when taken as part of a dual degree should be aware that it may be difficult to complete these combinations within 96 UoC. This may involve extra time and cost to complete, and may have visa implications for international students.
Fees
For information regarding fees for UNSW programs, please refer to the following website: UNSW Fee Website.
Professional Recognition
For further information, please refer to the Professional Recognition of Programs in the UNSW Online Handbook.
Further Information
Please note that these requirements may be subject to change. Students should always follow the program requirements according to the year they started their degree. For more information please visit Previous UNSW Online Handbooks
Contact the UNSW Business School Student Centre for advice.
tel: + 61 2 9385 3189
location: Level 1, room 1028, Quadrangle Building
Forms, policies and procedures
Frequently asked questions
UNSW Science
e-mail: sso@unsw.edu.au
tel: + 61 2 9385 6125 / 9385 7788
location: Robert Webster Building, Room 128
Contact the UNSW Business School Student Centre for advice.
tel: + 61 2 9385 3189
location: Level 1, room 1028, Quadrangle Building
Forms, policies and procedures
Frequently asked questions
UNSW Science
e-mail: sso@unsw.edu.au
tel: + 61 2 9385 6125 / 9385 7788
location: Robert Webster Building, Room 128
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