• Offered by Rsch Sch of Finance, Actuarial Studies & App Stats
  • ANU College ANU College of Business and Economics
  • Classification Advanced
  • Course subject Actuarial Studies
  • Areas of interest Actuarial Studies
  • Academic career PGRD
  • Course convener
    • Dr Jananie William
  • Mode of delivery In Person
  • Co-taught Course
  • Offered in Second Semester 2020
    See Future Offerings

All activities that form part of this course will be delivered remotely

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 ACST8040, provides the opportunity for exemption from the requirements of the Actuarial Control Cycle subject under the Actuaries Institute’s Associate program. Such exemption depends on the grades attained over both subjects.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

  1. Demonstrate an understanding of how models are used to solve client problems
  2. Demonstrate an understanding of the importance of capital
  3. Apply relevant approaches and techniques to the valuation of liabilities
  4. Apply appropriate techniques to the pricing of products and contracts
  5. Measure, report and manage solvency
  6. Measure and report emerging profits and/or costs
  7. Monitor and assess experience relating to actuarial problems
  8. Manage the business and respond to the experience relating to actuarial problems

Other Information

See the requisite statement for information on eligibility to take this course.

Indicative Assessment

  1. Typical assessment may include, but is not restricted to: assignments, mid-semester exam and a final examination. (100) [LO 1,2,3,4,5,6,7,8]

In response to COVID-19: Please note that Semester 2 Class Summary information (available under the classes tab) is as up to date as possible. Changes to Class Summaries not captured by this publication will be available to enrolled students via Wattle. 

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 130 hours of work in completing this course. This includes time spent in scheduled classes and self-directed study time.

Inherent Requirements

Not applicable

Requisite and Incompatibility

To enrol in this course you must have completed STAT3038 or STAT6045. Incompatible with ACST4032. This course is available to students enrolled in the Bachelor of Actuarial Studies who have completed ACST8040. See the details for that course for further information about requisites. Students enrolled in the Bachelor of Actuarial Studies who have met the requisites and wish to enrol in this course should contact the program convener of the Bachelor of Actuarial Studies to request a permission code for enrollment.

Prescribed Texts

Information about the prescribed textbook will be available via the Class Summary

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
Domestic fee paying students
Year Fee
2020 $3900
International fee paying students
Year Fee
2020 $6000
Note: Please note that fee information is for current year only.

Offerings, Dates and Class Summary Links

The list of offerings for future years is indicative only.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.

Second Semester

Class number Class start date Last day to enrol Census date Class end date Mode Of Delivery Class Summary
7343 27 Jul 2020 03 Aug 2020 31 Aug 2020 30 Oct 2020 In Person View

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