- Length 3 years full-time
- Minimum 144 Units
- Which applies to me?
Are you a maths whiz who wants stimulating work, limitless potential and an ever growing salary? This is the esteemed degree that will make you a thought leader in financial fields. With an ANU Bachelor of Actuarial Studies you will excel your career literally anywhere in the world.
Risk is all around us - in investment markets, on the roads, from our health and the climate. This degree will teach you how to apply your mathematical talent in understanding, measuring and managing the risks.
Graduates will apply mathematical, statistical, financial, economic and other skills to untangle the most complex and difficult problems facing the commercial world.
There are many attractive career opportunities for fully qualified actuaries in Australia. Some of the job titles associated with actuarial studies are listed below:
A financial expert trained to analyse the activities and future prospects and earnings of companies and securities for the purpose of investment.
Fund administrator/investment manager
A person employed by an organisation that specialises in the investment of a portfolio of securities on behalf of individuals and/or organisations subject to the guidelines and directions of the investor.
A professional person engaged by holders of liabilities, such as banks or industry superannuation funds, to advise on appropriate payment strategies and organisational structures to meet a stream of obligations.
Actuarial insurance broker
An independent agent who values life, fire, accident and other forms of insurance for a range of insurance companies.
Offer their professional services for a fee, provide a wide range of services, including; advice on financial decisions, independent valuations, design of insurance funds, and future financial planning strategies.
In addition to the roles described above, many actuaries successfully move into high-level administrative and management positions. Their broad training reflects the strong interdisciplinary nature of the actuarial profession, which mixes the need for strong theoretical skills with the need for sound practical intuition.
- To develop a grounding in financial mathematics and applications, including the time value of money, annuities, bond and loan calculations
- To develop the ability to interpret the accounts and financial statements of companies and financial institutions.
- To develop a grounding in mathematical statistics and regression modeling
- To develop a grounding in stochastic processes, survival models and their application in actuarial contexts
- To develop a grounding in the mathematical techniques used to model and value cashflows dependent on death, survival, illness, retirement, and other contingencies.
- To develop a grounding in the advanced mathematics which has particular relevance to financial work, including risk theory, bayesian statistics, generalized linear modeling, and time series techniques.
- To develop a grounding in the fundamental concepts of micro and macroeconomics.
To meet Part I of the professional requirements of the Actuaries Institute you must complete eight Core Technical (CT) subjects that correspond with 14 to 15 ANU courses which are accredited by the Institute. An average grade of 60 per cent must be achieved across the ANU courses corresponding with each CT subject in order to be recommended for the Part I exemptions. Further information on the ANU Part I exemption policy can be found here. Part II requirements of the Institute can be met by an additional fourth year of study in the College, usually in the form of an honours year. Interested students should contact the ANU College of Business and Economics. For further information about the Actuaries Institute visit: www.actuaries.asn.au.
Further InformationStudents commencing this program in Semester 2 can see the study plan here
Admission to all programs is on a competitive basis, taking into account all relevant academic qualifications. If you hold more than one qualification, admission will be based on your overall record. Tertiary qualifications are generally weighted more heavily than secondary. If you have completed an approved tertiary preparation course or alternative entry scheme, you will be assessed on the results of that scheme alone, unless you have undertaken subsequent study.
Click HERE for further information about domestic admission pathways.
The table below is a guide to the entry level required for domestic applicants. Exact entry level will be set at time of offer.
- QLD Band:
- International Baccalaureate:
Domestic applicant entry requirements
From 2010, the UAI/ENTER/TER will be referred to as ATAR (Australian Tertiary Admission Rank) for admission. See http://www.uac.edu.au/undergraduate/atar/ for further information.
Queensland Band equivalents are a guide only - selection is made on a UAI equivalent that is not available to students.
International applicant entry requirements
International applicants may view further information on admissions requirements at Entry Requirements for International Undergraduate Applicants
The University reserves the right to alter or discontinue its programs as required.
ACT: Advanced Mathematics Extended major/minor at least 160 (recommended – Advanced Mathematics Extended double major)
NSW: HSC Mathematics Extension 1 with a minimum performance band of E3
QLD: Mathematics B and Mathematics C, with a grade of 'H' in each
SA/NT: Mathematics 1 (Double) and Mathematics 2 with a score of at least 15/20 in both subjects
TAS: Mathematics Stage 2 and Mathematics Stage 3 with a score of at least 15/20 in both subjects
VIC: Mathematical Methods 3&4 and Specialist Mathematics 3/4 with at least 36/50 in each subject
WA: Applicable Mathematics and Calculus with a score of at least 72/100
IB: Mathematics (HL) with at least 6
The National Access Scheme 2014
ANU offers bonus points for nationally strategic senior secondary subjects, and in recognition of difficult circumstances that students face in their studies. Please note that Bonus Points do not apply to the Bachelor of Medicine and Bachelor of Surgery program.
Bonus points are applied to all applicants with an ATAR at or above 70. Points are awarded in accordance with the approved schedule, and no more than 10 points (maximum 5 academic points and maximum 5 equity points) will be awarded.
Bonus points do not apply to programs with an ATAR cutoff of 98 or higher.
Bonus Points are only awarded to domestic applicants applying for admission through UAC who have not previously attempted tertiary study.
How to apply
Academic Bonus Points: senior secondary students do not need to apply for ANU academic bonus points. They are automatically added in accordance with the schedule.
Educational Access Scheme: senior secondary students do not need to apply if their school is part of the Priority School Funding Program or Country Areas Program. All other applicants should refer to www.uac.edu.au/undergraduate/eas for more information.
- Annual indicative fee for international students
ANU offers a wide range of scholarships to current and future students to assist with the cost of their studies. The University is committed to enabling all students, regardless of their background, to achieve their best at ANU and realise their potential.
Eligibility for ANU scholarships varies depending on the specifics of the scholarship and can be categorised by the type of student you are. Specific scholarship application process information is included in the relevant scholarship listing.
For further information see the Scholarships website.
The Bachelor of Actuarial Studies requires completion of 144 units, of which:
A maximum of 60 units may come from completion of 1000-level courses
The 144 units must include:
72 units from completion of the following compulsory courses:
BUSN1001 Business Reporting and Analysis
ECON1101 Microeconomics 1
STAT1008 Quantitative Research Methods
STAT2001 Introductory Mathematical Statistics
STAT2008 Regression Modelling
STAT2032 Financial Mathematics
STAT3004 Stochastic Modelling
STAT3032 Survival Models
STAT3035 Risk Theory
STAT3036 Credibility Theory
STAT3037 Life Contingencies
STAT3038 Actuarial Techniques
6 units from completion of a course from the following list:
ECON1100 Economics 1 (H)
ECON1102 Macroeconomics 1
6 units from completion of a course from the following list:
ECON2102 Macroeconomics 2 (P)
ECON2112 Macroeconomics 2 (H)
12 units from the completion of courses on List 1 of the ANU College of Business and Economics.
48 units from completion of elective courses offered by ANU
The below study plan will meet the Actuaries Institute Part 1 requirements.
Students may choose to take two MATH courses instead of MATH1113. The options are MATH1013 / MATH1014 or MATH1115 / MATH1116. MATH1013 / MATH1014 is recommended for students with the bare minimum of mathematical background for the Bachelor of Actuarial Studies or for those not confident in their mathematical ability. MATH1115 / MATH1116 is a higher level of MATH1013 / MATH1014 and is recommended for those who are considering further mathematical study. Should two MATH courses be chosen, one of ECON1101, BUSN1001 or STAT1008 would need to move to the “Elective Course” position in the second semester of Year 1 above to make room for a MATH course in the first semester of Year 1.
The minor in Business and Economics Essentials will not be listed on transcripts for students completing the Bachelor of Actuarial Studies.
For majors and minors offered by the ANU College of Business and Economics, students may count a course towards multiple majors and minors. If a minor is a subset of all stated courses and/or prerequisites for a major, then completion of the major overrides completion of the minor, and only the major is regarded as having been completed. If all courses in a major and/or minor are compulsory courses in the degree, the major and/or minor will not be listed on the transcript.
Students may proceed to an additional honours year in Actuarial Studies. Entry to the honours year program is subject to an appropriately high average grade (generally distinction level or above) in the 3000-level compulsory subjects described in the course listings and requires the approval of College. Other conditions may also apply. Students who are interested in the honours program should seek further advice from the Convenor of the Actuarial Program in the Research School of Finance, Actuarial Studies and Applied Statistics
Students undertaking honours will be able to meet the Actuaries Institute Part II requirements
|Year 1 48 units||ECON1101 Microeconomics 1 6 units||FINM1001 Foundations of Finance 6 units||BUSN1001 Business Reporting and Analysis 6 units||STAT1008 Quantitative Research Methods 6 units|
|ECON1102 Macroeconomics 1 6 units||FINM2001 Corporate Finance 6 units||MATH1113 Mathematical Foundations for Actuarial Studies 6 units||Elective Course 6 units|
|Year 2 48 units||STAT2001 Introductory Mathematical Statistics 6 units||STAT2008 Regression Modelling 6 units||STAT2032 Financial Mathematics 6 units||FINM2002 Derivatives 6 units|
|STAT3037 Life Contingencies 6 units||ECON2102 Macroeconomics 2(P) 6 units||STAT3004 Stochastic Modelling 6 units||Elective Course 6 units|
|Year 3 48 units||FINM2003 Investments 6 units||FINM3003 Continuous Time Finance 6 units||STAT3035 Risk Theory 6 units||STAT3032 Survival Models 6 units|
|STAT3036 Credibility Theory 6 units||STAT3038 Actuarial Techniques 6 units||Elective Course 6 units||Elective Course 6 units|