Actuarial Studies involves financial and insurance risk analysis and the application of risk models to long term financial management in areas such as investment, finance, general insurance, superannuation and life insurance.

The Actuarial Studies major 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 Institute of Actuaries of Australia, the CT courses of The Institute of Actuaries (London) professional examinations and the VEE credit for the Society of Actuaries USA). Students can gain exemption from Part II of The Institute of Actuaries of Australia professional examinations and become an Associate member by completing an Honours year in Actuarial Studies, a fourth year in a combined degree, the Master of Actuarial Studies or non award enrolment at the required academic standard.

There is strong demand for graduates in Actuarial Studies. Employers in the financial services industry – including banks, insurers and consultants – value the rigorous quantitative risk training in the Actuarial Studies major.

Studying Actuarial Studies at UNSW

Actuarial Studies is offered as an undergraduate major by the Australian School of Business (www.business.unsw.edu.au) for students enrolled in commerce degrees. Actuarial Studies is a challenging but rewarding major, requiring a strong ability and interest in mathematics, probability and statistics and their application to business. The major is designed for students who wish to enter either the financial services industry in a quantitative role or the highly regarded actuarial profession.

A major in Actuarial Studies can be enhanced with a second major in Accounting, Economics or Finance, as well as Mathematics and Statistics in a combined degree with science.

Students with above average grades in their Actuarial Studies courses are invited to join the Honours program, requiring an additional year of study. An Honours year adds extra value to an undergraduate degree and is highly regarded by employers.