Actuarial Studies (Co-op) - 3587

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: 424620

Domestic Entry Requirements: See Domestic Entry Requirements

International Entry Requirements: See International Entry Requirements


Bachelor of Actuarial Studies (Co-op)

View program information for previous years

Program Description

The handbook provides you with information on the degree structure you would need to follow for the year you commence your study.

If you are a prospective student researching your study options, please visit UNSW Business School website for more information.

Please note: Entry into this program is open to domestic students only.
The Bachelor of Actuarial Studies (Co-op) (BActSt (Co-op)) is a highly valued and unique business qualification. It provides high-achieving students with a strong, 4-year academic program, integrated with fully assessable industry placement experiences that enable students to work with some of Australia's leading employers.

The BActSt(Co-op) combines the requirements of the degree with 15 months of coordinated industrial experience at three different sponsoring organisations. Industrial training extends outside university semesters.

A scholarship is payable from funds donated by the sponsoring organisations, and entry to the program is limited to students awarded a scholarship through the BActSt(Co-op) selection procedures administered by the Co-op Program Office. For baseline requirements to the UNSW Co-op program visit the future students page.

Program benefits:

• Highly regarded by industry
• Provides students with the fundamentals of business and the option to explore their interests
• Prepares students academically, technically and professionally
• Equips students with the skills and knowledge to pursue a variety of career options
• Allows students to qualify for professional accreditation in a range of areas.

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 also have the opportunity to 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 quantitative 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 major.

Program Objectives and Graduate Attributes

On successful completion of the BActSt (Co op), graduates will be able to demonstrate:
  • 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

The program comprises 192 UOC to be completed over 4 academic years, and comprises of:

Depth component
  • Compulsory core courses (96 UOC)
  • Industrial Training courses (36 UOC)
  • Free Elective (48 UOC)
  • General Education courses (12 UOC)
Compulsory core courses (96 UOC) include:
The 48 UOC of Free Elective can consist of 48 UOC of courses from any Faculty.

Note that a minimum of 132 UOC of courses offered by the UNSW Business School (including the 36 UOC in Industrial Training courses).

Industrial Training Experience

These courses account for 36 UOC. Students complete 3 industrial training experience courses within the area of their co-op scholarship, with each course worth 12 UOC:

Table A: Approved Majors from within the UNSW Business School:
  • Accounting
  • Actuarial Risk Management and Analytics
  • Business Economics
  • Business Strategy
  • Business Law
  • Finance
  • Financial Economics
  • Information Systems
  • International Business
  • Human Resource Management
  • Management
  • Marketing
  • Real Estate Studies
  • Taxation
Note that some UNSW Business School majors may require additional study above the minimum stipulated for the Bachelor of Actuarial Studies (Co-op).

Table B: Approved majors from other Faculties:
  • Mathematics
  • Quantitative Data Science
  • Statistics
Note that, for Bachelor of Actuarial Studies students completing a Major from the School of Mathematics and Statistics: MATH1151 replaces MATH1141 in any stream that requires either of the latter courses. Similarly, MATH1251 replaces MATH1241 in any stream.

General Education Requirements

General Education requirements account for 12 UOC (2 courses) and are to be taken outside the UNSW Business School. These courses allow you to select either courses that were developed especially for the General Education Program (beginning with GEN) or to choose 'mainstream' courses that are offered in the degree programs of other faculties. For further information about General Education Requirements please refer to the UNSW Online Handbook.

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
If students are unsure of their General Education requirements they should contact the UNSW Business School Student Centre (Level 1, room 1028, Quadrangle Building).


High achieving students may apply to undertake honours. Honours is an additional year 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.

Academic Rules

Academic Rules for Bachelor of Actuarial Studies (BActSt) (Co op)

Content of Program

To be awarded a degree at Pass level, the BAct St (Co op) must contain (as a standalone degree):

1. 192 units of credit (UOC).

2. 96 units of credit in compulsory courses.

3. A minimum of 132 UOC of courses offered by the UNSW Business School (including the 36 UOC in Industrial Training courses).

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 compulsory courses) undertaken for a Mathematics Major can therefore be used to satisfy General Education requirements.

5. Maximum of 72 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 a Major must be at Level 3.

9. If a student chooses to complete a Minor, it will consist of 30 UOC, with a minimum of 18 UOC 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. Students must maintain a minimum WAM of 65 and at least a mark of 65 for each of the compulsory core courses to remain within the program. If these requirements are not fulfilled, students may be either transferred to 3586 B Actuarial Studies or one of the related programs (3155 B Actuarial Studies / Commerce, or 3588 B Actuarial Studies / Economics, or 3589 B Actuarial / Science (Adv Math), or 3154 B Actuarial Studies / Science). The exact program will be dependent on the student's WAM.

13. 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.


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

Related Program(s)

3154 Actuarial Studies / Science
3155 Actuarial Studies / Commerce
3586 Actuarial Studies
3588 Actuarial Studies / Economics
3589 Actuarial / Science (Adv Math)

Area(s) of Specialisation