The aim of the Actuarial Control Cycle is to provide students with an understanding of underlying actuarial principles that may be applied to a range of problems and issues in commercial and business environments. Students are expected to develop a holistic approach to practical problem solving, and develop a level of judgement and professional skills required to successfully apply actuarial principles. The syllabus relates to actuarial practice both in the financial services and in other industries. Examples will be drawn from traditional and non-traditional areas to illustrate and establish the underlying actuarial principles in a problem based learning approach, using case studies and business-based examples.
This subject, in conjunction with ACST4032/8041 and ACST4033, provides the opportunity for exemption from the Part II academic requirements of the Actuaries Institute. Such exemption depends on the grades attained over all three subjects.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
Upon successful completion of the requirements of this course, the student will be able to:
- Understand, discuss and apply an actuarial control cycle in a variety of practical commercial situations
- Relate the main features within the general environment to medium and long-term commercial decisions, in a variety of markets
- Analyse the main features of the financial services marketplace including products and distribution channels
- Examine in detail the need for, and impact of, regulation and government policy on medium and long-term commercial decisions
- Recognise the importance of capital
- Understand, discuss and apply an enterprise risk management framework to identify and assess the risks in a range of situations
- Select and build an appropriate model to solve client problems
- Understand, discuss and apply the process of product design
- Apply the tests of professionalism in a range of contexts
Other Information
See the course outline on the College courses page. Outlines are uploaded as they become available.
Indicative Assessment
Typical assessment may include, but is not restricted to: assignments, a mid-semester exam and a final examination.
The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.
Workload
Students are expected to commit at least 10 hours per week to completing the work in this course. This will include at least 3 contact hours per week and up to 7 hours of private study time.
Requisite and Incompatibility
Specialisations
Fees
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- 3
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee |
|---|---|
| 2017 | $3852 |
- International fee paying students
| Year | Fee |
|---|---|
| 2017 | $5130 |
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.
First Semester
| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
|---|---|---|---|---|---|---|
| 2695 | 20 Feb 2017 | 27 Feb 2017 | 31 Mar 2017 | 26 May 2017 | In Person | N/A |
