Actuarial Studies - 3586
Program Summary
Faculty: UNSW Business School
Contact: UNSW Business School Student Centre
Campus: Sydney
Career: Undergraduate
Typical UOC Per Semester: 24
Min UOC Per Semester: 6
Max UOC Per Semester: 24
Min UOC For Award: 144
UAC Code: 424300
Domestic Entry Requirements: See Domestic Entry Requirements
International Entry Requirements: See International Entry Requirements
Award(s):
Bachelor of Actuarial Studies
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.
Actuarial Studies involves the application of statistical and financial analysis and risk models to management in general, life and health insurance, superannuation, investment and finance.
The Actuarial Studies program serves as a foundation for students who wish to enter the actuarial profession. Students must achieve the required academic standard in their Actuarial Studies courses to gain exemption from Part I of the Actuaries Institute in Australia, the CT courses of The Institute and Faculty of Actuaries (UK) professional examinations or the VEE credit for the Society of Actuaries (USA). Students can also potentially gain exemption from Part II of the Actuaries Institute professional examinations and become an Associate member by completing the designated fourth year courses at the required academic standard.
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. Employers in the financial services industry – including banks, insurers and consultants – value the rigorous quantitative risk training in the Actuarial Studies degree.
Program Objectives and Graduate Attributes
- demonstrate business knowledge and apply that knowledge in business problems
- 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
- understand the social and ethical dimensions in actuarial work.
Program Structure
- Compulsory first and second year courses
- Third year elective courses from Actuarial Studies
- Elective course from Actuarial Studies or the UNSW Business School.
- Free Electives
- General Education courses (12 UOC)
Note: A maximum of 60 UOC of Level 1 courses (excluding General Education requirement) are able to be counted towards a Bachelor of Actuarial Studies degree.
- 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)
The 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)
Breadth component (48 UOC)
- Free electives (36 UOC) (may be UNSW Business School courses, or courses within any Faculty) - GEN coded courses cannot be counted as Free Electives
- 12 UOC of General Education.
- The compulsory courses and third year electives in Actuarial Studies (90 UOC) plus an UNSW Business School minor (30 UOC), containing at least 6 UOC at level 3, plus 12 UOC from General Education options and 12 UOC Free Electives, OR
- The compulsory courses and third year electives in Actuarial Studies (90 UOC) plus a major of at least 48 UOC from an approved disciplinary stream within the UNSW Business School, and 12 UOC from General Education options (Note that some UNSW Business School majors may require additional study above the minimum 144 UOC stipulated for the Bachelor of Actuarial Studies.), OR
- The compulsory courses and third year electives in Actuarial Studies (90 UOC) plus a major of at least 60 UOC from the School of Mathematics and Statistics (of which 12 UOC are already in the compulsory core actuarial courses), plus 6 UOC UNSW Business School courses, OR
- The compulsory courses and third year electives in Actuarial Studies (90 UOC), plus 6 UOC UNSW Business School courses, plus any other combination of 48 UOC of courses, made up of 12 UOC General Education options and 36 UOC of Free Electives.
Table A: Approved Majors from within the UNSW Business School:
- Accounting
- Actuarial Risk Management and Analytics
- Business Economics
- Business Strategy and Economic Management
- Business Law
- Finance
- Financial Economics
- Human Resource Management
- Information Systems
- International Business
- Management
- Marketing
- Real Estate Studies
- Taxation
- Mathematics
- Quantative Data Science
- Statistics
General Education Requirements
Please note that students enrolled in programs within the UNSW Business School cannot take General Education courses offered by the UNSW Business School. These restrictions also apply to the following courses:
- GENL2015 The World of Work
- GENL2021 An Introduction to the Australian Legal System
- GENL2032 Cyberspace Law 2.0
- GENL5021 Business Law Basics
Honours
Academic Rules
To be awarded a degree at Pass level, the BActSt must contain (as a standalone degree):
1. 144 units of credit (UOC).
2. 96 units of credit in compulsory and elective courses. These include 72UOC of compulsory courses, and at least 18UOC of elective Level 3 actuarial studies courses.
3. A minimum of 84 UOC of courses offered by the UNSW Business School.
4. 12 UOC of courses from outside the UNSW Business School to fulfil the University’s General Education requirement. The courses (with the exception of the core) undertaken for a Mathematics Major can therefore be used to satisfy General Education requirements.
5. Maximum of 60 UOC of Level 1 courses, excluding Level 1 courses completed as part of the General Education requirement.
Majors and Minors
6. A Major in the UNSW Business School is a sequence of at least 48 UOC courses in a single discipline or area of study. A Major in the School of Mathematics and Statistics comprises at least 60 UOC.
7. Students completing a Major in the School of Mathematics and Statistics may treat MATH 1151 as equivalent to MATH1141, and MATH1251 as equivalent to MATH1241 for the purposes of completing major requirements.
8. 18 UOC of an UNSW Business School Major must be at Level 3.
9. If a student chooses to complete a UNSW Business School Minor, it will consist of 30UOC, with a minimum of 18UOC at Level 2 and Level 3.
Progression rules
10. A minimum of 24 UOC courses must be completed before enrolling in Level 2 courses.
11. A minimum of 72 UOC courses must be completed before enrolling in Level 3 courses.
Awarding degree
12. 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.
Fees
Professional Recognition
Further Information
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
Related Program(s)
3589 Actuarial / Science (Adv Math)
3587 Actuarial Studies (Co-op)
3155 Actuarial Studies / Commerce
3588 Actuarial Studies / Economics
3154 Actuarial Studies / Science
Area(s) of Specialisation