Handbook

There is a more recent version of this academic item available.

Overview

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 the Foundation Program of the Actuaries Institute professional examinations, and the Validation by Educational Experience (VEE) credit for the Society of Actuaries (USA) and Casualty Actuarial Society (USA). Students (esp. Actuarial Studies (Co-op) students and dual degree students) may also be eligible to gain exemption from the university accreditation components of the Actuary Program of the Actuaries Institute professional examinations. Students who wish to complete their studies with the Institute and Faculty of Actuaries (UK) may be eligible to receive credit for subjects for which they have credit with the Actuaries Institute via Transfer of Prior Learning (TPL).

Learning Outcomes

Business knowledge: Students will make informed and effective selection and application of knowledge in a discipline or profession, in the contexts of local and global business.

Professionals
Global citizens
Leaders
Scholars

Problem solving: Students will define and address business problems, and propose effective evidence-based solutions, through the application of rigorous analysis and critical thinking.

Professionals
Global citizens
Scholars
Leaders

Business communication: Students will harness, manage and communicate business information effectively using multiple forms of communication across different channels.

Global citizens
Leaders
Professionals
Scholars

Teamwork: Students will interact and collaborate effectively with others to achieve a common business purpose or fulfil a common business project, and reflect critically on the process and the outcomes.

Global citizens
Leaders
Scholars

Responsible business practice: Students will develop and be committed to responsible business thinking and approaches, which are underpinned by ethical professional practice and sustainability considerations.

Global citizens
Professionals

Global and cultural competence: Students will be aware of business systems in the wider world and actively committed to recognise and respect the cultural norms, beliefs and values of others, and will apply this knowledge to interact, communicate and work effectively in diverse environments.

Global citizens
Leaders

Leadership development: Students will develop the capacity to take initiative, encourage forward thinking and bring about innovation, while effectively influencing others to achieve desired results.

Leaders
Scholars

Graduate Capabilities

For more information on Graduate Capabilities please click on this link

Program Structure

Students must complete 144 UOC when taken as a standalone program.

These UOC are made up of:

Level 1 Actuarial Studies Core Courses (48 UOC)
Level 2 Actuarial Studies Core Courses (24 UOC) (Please note: ACTL2131 may be substituted by MATH2901 and MATH2931, please see below)
Level 3 Actuarial Studies Electives (24 UOC)
Free electives (36 UOC)
General Education (12 UOC)

For single and related double degrees please see Progression Plan

Disciplinary Component96 Units of Credit:

Students must complete 96 UOC of the following to satisfy the core requirements of this degree

Level 1 Core Courses48 Units of Credit:

Students must take 48 UOC of the following courses.

ACTL1101

6 UOC

Introduction to Actuarial Studies

Organisational Resources

Mathematics for Actuarial Studies and Finance 1A

MATH1251

6 UOC

Mathematics for Actuarial Studies and Finance 1B

Level 2 Core Courses24 Units of Credit:

Students must take 24 UOC of the following courses.

Students may replace ACTL2131 with the two courses MATH2901 Higher Theory of Statistics and MATH2931 Higher Linear Models. If students make this replacement, MATH2901 will count towards ACTL2131, and MATH2931 will be counted towards a major where this course is required or as a Business elective.

ACTL2102

6 UOC

Foundations of Actuarial Models

ACTL2111

6 UOC

Financial Mathematics for Actuaries

ACTL2131

6 UOC

Probability and Mathematical Statistics

COMM2501

6 UOC

Data Visualisation and Communication

Level 3 Actuarial Electives24 Units of Credit:

Students must complete 24 UOC of the following courses.

ACTL3141

6 UOC

Modelling and Prediction of Life and Health Related Risks

ACTL3142

6 UOC

Statistical Machine Learning for Risk and Actuarial Applications

ACTL3143

6 UOC

Artificial Intelligence and Deep Learning Models for Actuarial Applications

ACTL3151

6 UOC

Actuarial Mathematics for Insurance and Superannuation

ACTL3162

6 UOC

General Insurance Techniques

ACTL3182

6 UOC

Asset-Liability and Derivative Models

ACTL3191

6 UOC

Superannuation and Retirement Benefits

ACTL3192

6 UOC

Retirement Saving and Spending Over the Lifecycle

ACTL3301

6 UOC

Quantitative Risk Management

Optional Specialisations

Students may choose to complete an optional Actuarial Studies major or Business major / minor using the elective space in their program.

Actuarial Studies Majors

Students may elect to complete ACTLE1 or MATHE1 in addition to their Actuarial Studies program requirements.

Students completing these majors will still need to complete the program requirements such as Level 1 and 2 core course as well as Level 3 electives.

These majors will require UOC to be taken from the Business Electives, Free elective and/or General Education courses depending on a students program rules and courses completed. It may also require completion of additional UOC above the minimum required for a student's program. Please see the Progression Plans and consult the Business School Student Centre if you are interested in completing either of these majors.

ACTLE1

48 UOC

Actuarial Risk Management and Analytics

MATHE1

66 UOC

Quantitative Data Science

Business Majors / Minors

Students may elect to complete a maximum of one major/minor listed below in addition to their Actuarial Studies program requirements.

Notes for Single-Degree students: Completion of one of the following non-Actuarial Studies Majors within the single Actuarial Studies degree may result in more UOC required for degree completion.

Notes for Double-Degree students: Completion of an additional major/minor within the combined Actuarial Studies degree may result in more UOC required for degree completion.

Behavioural Economics

International Business

Human Resource Management

MGMTJ1

48 UOC

Innovation, Strategy and Entrepreneurship

TABLC1

48 UOC

Taxation

Note for students choosing to complete an Actuarial Studies major

Note for students choosing to complete a School of Mathematics and Statistics major

Free Electives36 Units of Credit:

Student must complete 36 UOC of Free electives. These courses can be offered by the Business Faculty or outside of Business but cannot be GEN coded.

Please be mindful of the Level 1 limit when selecting Free Electives.

Students are encouraged to select a Work-Integrated Learning course as a Free Elective course to help students pursue a career after graduation, as well as a host of global, mentoring and networking opportunities, e.g. COMM2244, COMM3020, COMM2222, COMM2233.

any course

General Education12 Units of Credit:

Students must complete 12 UOC of General Education courses.

Please note: Students enrolled in programs within the UNSW Business School cannot take General Education courses offered by the UNSW Business School (i.e. GENC code). These restrictions also apply to the following courses:

GENL2021 An Introduction to the Australian Legal System
GENL2032 Cyberspace Law 2.0

any General Education course

Program Constraints

Limit Rule

Maturity Rule

Enrolment Disclaimer

Please note that this Handbook is a comprehensive catalogue of our offerings and includes courses that can be taken to satisfy program requirements irrespective as to their availability for a particular year. Availability of courses is best checked using filters on this site or on the class timetable site.

You are responsible for ensuring that you enrol in courses according to your program requirements and by following the advice of your Program Authority. myUNSW enrolment checks that you have met enrolment requirements such as pre-requisites for individual courses but not that you are enrolling in courses that will count towards your program requirements.

Program Requirements

Progression Requirements

Progression rules are in accordance with university policy.

For more information on university policy on progression requirements please visit Academic Progression

Associated Programs

Similar Program

Bachelor of Actuarial Studies (Co op) - BActSt (Co-op)3587 - Actuarial Studies (Co op)

Related Double Degree

Bachelor of Actuarial Studies - BActSt
Bachelor of Science - BSc3154 - Actuarial Studies / Science

Bachelor of Actuarial Studies - BActSt
Bachelor of Commerce - BCom3155 - Actuarial Studies / Commerce

Bachelor of Actuarial Studies - BActSt
Bachelor of Economics - BEc3588 - Actuarial Studies / Economics

Bachelor of Actuarial Studies - BActSt
Bachelor of Science (Advanced Mathematics) (Honours) - BSc(AdvMath)(Hons)3589 - Actuarial Studies / Advanced Mathematics (Honours)

Bachelor of Actuarial Studies - BActSt
Bachelor of Information Systems - BIS3671 - Actuarial Studies / Information Systems

Bachelor of Actuarial Studies - BActSt
Bachelor of Science - BSc3674 - Actuarial Studies / Computer Science

Bachelor of Actuarial Studies - BActSt
Bachelor of Laws - LLB4737 - Actuarial Studies / Law

Professional Outcomes

Accreditations

Institute of Actuaries of Australia

Graduates are eligible to apply for membership of various professional organisations according to the area of specialisation completed. For further information regarding the Institute of Actuaries Australia, please see https://www.actuaries.asn.au/
For information on application for exemption recommendation, please see: https://www.unsw.edu.au/business/our-schools/risk-actuarial/student-life/professional-recognition/application-exemption-recommendation-2020-2021-rules

Professional Recognition

Graduates are eligible to apply for membership of various professional organisations according to the area of specialisation completed. For further information on professional recognition please contact UNSW Business School [https://www.unsw.edu.au/business/about-us/accreditation] 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 Foundation Program courses of the Actuaries Institute in Australia or the VEE credit for the Society of Actuaries (USA). Students also have the opportunity to gain exemption from two university accreditation components for the Actuary Program of the Actuaries Institute. Students who wish to complete their studies with the Institute and Faculty of Actuaries (UK) may be eligible to receive credit for subjects for which they have credit with the Actuaries Institute via Transfer of Prior Learning (TPL).

Career Opportunities

Actuarial analyst, asset management trainee, business consultant, credit analyst, insurance analyst, risk assessment officer, superannuation adviser, wealth management analyst.

Recognition of Achievement

University Medal

Award of Pass with Distinction

The Award of Pass with Distinction is awarded when a weighted average mark (WAM) of at least 75% has been achieved and at least 50% of the requirements of the award completed at UNSW. All eligible programs will award Pass with Distinction except in special circumstances where approval of Academic Board has been given for a program to opt out.

For more information, please visit:

Current Students Pass With Distinction

Additional 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

Program Fees

At UNSW fees are generally charged at course level and therefore dependent upon individual enrolment and other factors such as student's residency status. For generic information on fees and additional expenses of UNSW programs, click on one of the following:

Domestic Students

Commonwealth Supported Students (if applicable)

International Students

Additional Expenses and Resources

As for current B ActSt

Pre-2019 Handbook Editions

Access past handbook editions (2018 and prior)

Pre-2019 Handbook Editions

Faculty
Faculty: The primary academic unit in which related disciplines of teaching and research are conducted.

UNSW Business School

Campus

Sydney

Study Level
Study Level refers to the academic level of a program, specialisation or course.

Undergraduate

Typical duration:

3 Year(s)

Delivery Mode

Face-to-face (includes blended)

Intake Period

Term 1, Term 2, Term 3

Academic Calendar

Minimum Units of Credit

144

AQF Level

Level 7

Award Type

Bachelor

Award(s)
Award(s): Qualification upon completion (all awards offered by UNSW are accredited by UNSW and align with the Australian Qualifications Framework).

Bachelor of Actuarial Studies - BActSt

UAC Code

424300

CRICOS Code

077428B

Actuarial Studies

3586

144 Units of Credit

Overview

Learning Outcomes

Graduate Capabilities

Program Structure

Program Constraints

Enrolment Disclaimer

Program Requirements

Progression Requirements

Associated Programs

Similar Program

Related Double Degree

Professional Outcomes

Accreditations

Professional Recognition

Career Opportunities

Recognition of Achievement

Additional Information

Program Fees

Additional Expenses and Resources

Pre-2019 Handbook Editions