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:

ACST8033 Investment and Asset Modelling

ACST8040 Actuarial Control Cycle 1

ACST8041 Actuarial Control Cycle 2

STAT6039 Principles of Mathematical Statistics

STAT6043 Life Contingencies

STAT6045 Actuarial Techniques

STAT6046 Financial Mathematics

STAT7004 Introduction to Stochastic Processes

STAT7042 Survival Models

STAT8035 Risk Theory

STAT8036 Credibility Theory

12 units from completion of courses from the following list:

ACST8045 Advanced Insurance

ACST8047 Advanced Life Insurance

ACST8048 Advanced General Insurance

ACST8049 Advanced Global Retirement Income Systems

ACST8060 Enterprise Risk Management 1

ACST8061 Enterprise Risk Management 2

FINM8006 Advanced Investments

42 units from completion of courses from the following list:

ACST8050 Research Essay in Actuarial Studies

BUSN7008 Financial Statements and Reporting

ECON8069 Business Economics

FINM7003 Continuous Time Finance

FINM7006 Applied Foundations of Finance

FINM7007 Applied Corporate Finance

FINM7008 Applied Investments

FINM7041 Applied Derivatives

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 Business

Study Options

Admission Requirements

A Bachelor degree or international equivalent with a minimum GPA of 5.0/7.0, with at least one course in the field of mathematics that must cover calculus and linear algebra.

Or an ANU Graduate Certificate of Finance and Actuarial Statistics (Actuarial Statistics or Actuarial Studies specialisation) with a minimum GPA of 4.5/7.0, with at least one course in the field of mathematics from university studies 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. Students who do not achieve a minimum of 60% weighted average mark in the first 48 units will be transferred to the Graduate Diploma in Business. 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.

Cognate Disciplines

Finance, Accounting, Business, Economics, Statistics, Actuarial Studies, Maths, Business Information Systems, Management, Marketing, International Business, Engineering, Physics, Science

English language Requirements

All applicants must meet the University’s English Language Admission Requirements for Students

Assessment of qualifications

Unless otherwise indicated, ANU will accept all Australian Qualifications Framework (AQF) qualifications or international equivalents that meet or exceed the published admission requirements of our programs, provided all other admission requirements are also met.

 Where an applicant has more than one completed tertiary qualification, ANU will base assessment on the qualification that best meets the admission requirements for the program. Find out more about the Australian Qualifications Framework: www.aqf.edu.au

ANU uses a 7-point Grade Point Average (GPA) scale. All qualifications submitted for admission at ANU will be converted to this common scale, which will determine if an applicant meets our published admission requirements. Find out more about how a 7-point GPA is calculated for Australian universities: www.uac.edu.au/future-applicants/admission-criteria/tertiary-qualifications

Unless otherwise indicated, where an applicant has more than one completed tertiary qualification, ANU will calculate the GPA for each qualification separately. ANU will base assessment on the best GPA of all completed tertiary qualifications of the same level or higher.

Application for course credits

Applicants with a Graduate Diploma or Bachelor degree with Honours in a cognate discipline may be eligible for up to 48 units (one year) of credit. 

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.

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.

Learning Outcomes

1. 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.

2. 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.

3. Graduates will be able to demonstrate high levels of cognitive and technical skills as well as critical thinking to solve specific actuarial problems.

4. 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.

5. 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.

Students in the Master of Actuarial Practice program have the option of applying to undertake a Actuarial Practice Masters thesis as a possible pathway to PhD study. Details regarding the Masters thesis are below:

·              Length: 24 units, to be completed in the final year of the Master of Actuarial Practice

·              Eligibility: To be eligible to apply, students must have achieved a GPA of at least 6.5 across prior coursework within the Master of Actuarial Practice. Eligibility will also depend on the compulsory courses that students are required to still complete as part of their Masters degree, and specifically whether students have sufficient space in their program.

·              How to apply: Students’ must write a case as to why they want to engage in the course and must have already secured a supervisor

·              Courses the thesis replaces: The courses that the thesis replaces will be determined in consultation with the Actuarial Practice Masters convenor and will depend on the background of each student. 

 Students who are accepted into the Masters thesis component should contact Gen Nowak (gen.nowak@anu.edu.au) to confirm their study plan for the program. Please note that undertaking a Masters thesis does not guarantee entry to a PhD.