Program Requirements
The Master of Actuarial Practice requires the completion of 120 units , which must include:
66 units from completion of the following compulsory courses:
STAT6039 Principles of Mathematical Statistics (6 units)
STAT6043 Life Contingencies (6 units)
STAT6045 Actuarial Techniques (6 units)
STAT6046 Financial Mathematics (6 units)
STAT7018 Stochastic Modeling (6 units)
STAT7042 Survival Models (6 units)
STAT8035 Risk Theory (6 units)
STAT8036 Credibility Theory (6 units)
ACST8033 Control Cycle B (6 units)
ACST8040 Control Cycle A1 (6 units)
ACST8041 Control Cycle A2 (6 units)
12 units from completion of core courses from the following list:
ACST8047 Advanced Life Insurance (6 units)
ACST8048 Advanced General Insurance (6 units)
ACST8049 Advanced Global Retirement Income Systems (6 units)
FINM8006 Advanced Investments (6 units)
ACST8060 Enterprise Risk Management I (6 units)
ACST8061 Enterprise Risk Management II (6 units)
42 units from completion of elective courses from the following list:
BUSN7008 Financial Statements & Reporting (6 units)
ECON8069 Business Economics (6 units)
FINM7003 Continuous Time Finance (6 units)
FINM7006 Foundations in Finance (6 units)
FINM7007 Applied Corporate Finance (6 units)
FINM7008 Applied Investments (6 units)
FINM7041 Applied Derivatives (6 units)
ACST8050 Research Essay in Actuarial Studies (6-12 units)
Students must achieve a minimum 60% weighted average mark in the first 48 units of courses attempted in order to remain enrolled in the Master of Actuarial Practice.
If the total number of units attempted exceeds 48 in the same teaching period in which the 48th unit is attempted, exactly 48 units will be used in the calculation of the weighted average mark with units from the course with the highest mark applied first followed by further units from courses in descending order of marks.
Students who do not achieve a minimum of 60% weighted average mark in the first 48 units will be transferred to the Graduate Diploma of Finance and Actuarial Statistics.
Study Options
| Year 1 48 units | STAT6039 Principles of Mathematical Statistics 6 units | STAT6046 Financial Mathematics 6 units | FINM7006 Foundations of Finance 6 units | BUSN7008 Financial Statements and Reporting 6 units |
| STAT6045 Actuarial Techniques 6 units | FINM7007 Applied Corporate Finance 6 units | STAT7018 Stochastic Modelling 6 units | STAT6043 Life Contingencies 6 units | |
| Year 2 48 units | ACST8040 Control Cycle A1 6 units | STAT8035 Risk Theory 6 units | FINM7041 Applied Derivatives 6 units | Advanced Course 6 Units |
| ACST8041 Control Cycle A2 6 units | ACST8033 Control Cycle B 6 units | STAT8036 Credibility Theory 6 units | Advanced Course 6 Units | |
| Year 3 | ECON8069 Business Economics 6 units | STAT7042 Survival Models 6 units | FINM7008 Applied Investments 6 units | FINM7003 Continuous Time Finance 6 units |
Admission Requirements
A Bachelor degree or international equivalent with an average mark of at least 65%, with at least one course in the field of mathematics that must cover calculus and linear algebra.
Students must achieve a minimum 60% weighted average mark in the first 48 units of courses attempted in order to remain enrolled in the Master of Actuarial Practice.
Applicants with a Bachelor Degree or Graduate Certificate in a cognate discipline may be eligible for 24 units (1 semester) of credit.
Applicants with a Graduate Diploma or Honours in a cognate discipline may be eligible for 48 units (1 year) of credit.
If the total number of units attempted exceeds 48 in the same teaching period in which the 48th unit is attempted, exactly 48 units will be used in the calculation of the weighted average mark with units from the course with the highest mark applied first followed by further units from courses in descending order of marks.
Students who do not achieve a minimum of 60% weighted average mark in the first 48 units will be transferred to the Graduate Diploma of Finance and Actuarial Statistics.
Cognate Disciplines
Finance, Accounting, Business, Economics, Statistics, Actuarial Studies, Maths, Business Information Systems, Management, Marketing, International Business, Engineering, Physics, Science
All applicants must meet the University’s English Language Admission Requirements for Students
Pathways
Graduates of the Master of Actuarial Practice from ANU may progress to an Australian Qualifications Framework level 10 qualification (Doctoral Degree) subject to specific admission requirements.
Indicative fees
- Annual indicative fee for domestic students
- $27,312.00
For more information see: http://www.anu.edu.au/students/program-administration/costs-fees
- Annual indicative fee for international students
- $34,800.00
For further information on International Tuition Fees see: https://www.anu.edu.au/students/program-administration/fees-payments/international-tuition-fees
Scholarships
ANU offers a wide range of scholarships to students to assist with the cost of their studies.
Eligibility to apply 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.
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 Master of Actuarial Practice degree 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.
Career Options
ANU provides you with more choice for your entrance score by offering the new Flexible Double Degree program.
The ANU Flexible Double Degree lets you build skills for your chosen career without forfeiting your passion. It's your choice to build a double degree partnership that suits your head and your heart.http://students.anu.edu.au/applications/
Learning Outcomes
Graduates of the Master of Actuarial Practice will have the necessary cognitive skills to demonstrate a superior knowledge and understanding of key concepts in actuarial studies and related fields.
Graduates will be able to demonstrate high levels of cognitive and technical skills in analysing and interpreting specific business situations so that the correct actuarial techniques can be applied.
Graduates will be able to demonstrate high levels of cognitive and technical skills as well as critical thinking to solve specific actuarial problems.
Graduates will have strong communication skills, being able to demonstrate the ability to communicate concisely, accurately, and confidently in a number of different mediums including written and oral.
Graduates will have strong communication and technical research skills to justify and interpret actuarial research planning, methodology and implementation.
Further Information
For Domestic Students applying through UAC: If you have completed an overseas qualification, please send a scanned copy of your original testamur (graduation certificate) and academic transcript through to info.cbe@anu.edu.au. The scanned documents should be in colour and unaltered in size. Please include your name and UAC number in the email.
If seeking status/exemption, please go to the CBE web page here: http://cbe.anu.edu.au/students/student-information/enrolment/application-for-exemption_master-of-act...
Please note we only accept notarised or translated outlines with the university seal or translated outlines by NAATI (National Accreditation Authority for Translators and Interpreters).
ACST8047, ACST8048, ACST8049 are not offered in 2015. Students may enrol in ACST8045 Advanaced Insurance in Semester 1, 2015.
Back to the Master of Actuarial Practice page
This degree will teach you how to apply your mathematical talent in understanding, measuring and managing the risks. It is designed for:
- Students who want to extend their study to an advanced academic level with a view to possible PhD level study.Graduates of the Master of Actuarial Practice from ANU may progress to an Australian Qualifications Framework level 10 qualification (Doctoral Degree) subject to specific admission requirements.
- Students with a good mathematics or statistics background but limited actuarial background who seek a 'conversion' option to develop the actuarial and other risk management skills to satisfy the Part I and II requirements of the Institute of Actuaries of Australia.
- Students with an actuarial degree who seek to complete courses which are complementary to the Institute of Actuaries of Australia Part III requirements.
- Students whose previous actuarial study was in a non-accredited program and who seek to complete their full professional studies through the ANU.
Single degree
- This program requires 120 units (20 courses)
- 11 compulsory courses (66 units)
- 2 core courses (12 units)
- 7 elective courses (42 units)
About this degree
Students must pass and achieve a grade average of 60% across the first
48 units attempted to progress to the second year of the program. Students who do not achieve a minimum of 60% weighted average mark in the
first 48 units will be transferred to the Graduate Diploma of Finance and
Actuarial Statistics.
Enrolment Status
It is possible to enrol in fewer courses per semester but it will take you longer to finish your program and get your degree. If you are an international student you must always be enrolled full-time in 24 units each semester.
Remember you will need to enrol in courses for both First Semester and Second Semester. You will be able to change your enrolment in courses up until the end of week 2 of each semester without penalty.
Course
selection for the students who are commencing the second year:
- 3 Control Cycle units: ACST8040 (S1), ACST8033 (S2) and ACST8041(S2)
- 3 core courses: STAT7042 (S1), STAT8035 (S1) and STAT8036 (S2)
-
2 advanced units: ACST8060 (S1), ACST8061 (S2) and FINM8006 (both S1 and S2)
- 3 elective courses: the prescribed courses or as approved by Program Convener. If you wish to complete FINM7003, you should consider to enrol FINM7041 in the second year.
Electives
42 units (7 courses) from the listed courses. Please also refer to the following link for further information of the ANU courses leading to exemption status from Institute of Actuaries, Australia (IAA): http://cbe.anu.edu.au/students/student-information/professional-organisations-accreditation/actuarie...
Study Options
Master of Actuarial Practice
Two and half year graduate coursework program: Students are able to attempt all of Part I exemptions and all of Part II exemptions. The study plan varies for students commencing Semester 2. Below is the study plan for students commencing Semester 1. If you enter the program at Semester 2, your second semester should be enrolled the following courses: STAT7042, FINM7007, FINM7008, ECON8069Study Options
| Year 1 48 units | STAT6039 Principles of Mathematical Statistics 6 units | FINM7006 Foundations of Finance 6 units | BUSN7008 Financial Statements and Reporting 6 units | STAT6046 Financial Mathematics 6 units |
| ECON8069 Business Economics 6 units | FINM7007 Applied Corporate Finance 6 units | STAT7042 Survival Models 6 units | FINM7008 Applied Investments 6 units |
Academic Advice
Before applying for any credit or exemption towards the program,
students (except the ANU students) should include an assessment of their qualification completed
by Institute of Actuaries, Australia (IAA).
It is advisable that students discuss their course selection with the Program Convener, Dr Bronwen Whiting (Bronwen.whiting@anu.edu.au). Please ensure you take a copy of your academic transcript with you when you meet with Dr Whiting.She will available during the O week in her office (Room 4.31, Building 26C):
If you are required to have a permission number to enrol the course, or any course that is approved by Dr Whiting, please complete Enrolment Change Form (http://www.anu.edu.au/sites/www.gaia-web1.anu.edu.au/files/resource/Enrolment-Change.pdf) and submit it to the CBE front office, or email to info.cbe@anu.edu.au.
Do you want to talk to someone before enrolling?
Contact info.cbe@anu.edu.au