Application  for exemption recommendation: The 2020 and 2021+ rules

The 2021+ rule (for students commencing their ACTL degree in 2021+)

From 2021, some changes to the 2020 rule (only CS1, CS2 and CB1 in Foundation Program) are made due to the introduction of the new Integrated First Year (IFY) and the recommendations from the Academic Program Review (APR) panel. These changes will be implemented in 2021 and onward. You can find the details in the 2020 and 2021+ Exemption Guidelines.

The 2020 rule (for students commencing their ACTL degree in 2020)

From 2020, the Actuarial Institute will be using the Foundation Program and Actuary Program. Go to Application for Exemption Recommendation: Original Transition Rule to find the details for the original transition rule before 2020. For the Foundation Program, if you were enrolled before 2020, refer to CT subjects for Part I. For the Actuary Program, if you completed all Part II subjects (A+B) or one of them before 2020, refer to Part IIA and Part IIB courses.

Exemptions

Exemptions are usually granted for Foundation Program (Part I) courses when you have achieved Credit or above in the average of the corresponding UNSW courses. Moreover, the exemption standard for Actuary Program (Part II) is 
•    Distinction (75%) or above until 2020 classes
•    Credit (65%) or above in 2021 and onward classes

All students are required to apply* to have an exemptions recommendation letter issued by the UNSW School of Risk and Actuarial Studies, for the Foundation Program and Actuary Program of the Actuaries Institute.

*Note: academic transcripts are no longer required.

If you commenced your study in 2018 and 2019, review the eligibility requirements for exemption. 

  •  

    FOUNDATION PROGRAM COURSE CODE COURSE NAME

    CS1

    ACTL2131

    Probability & Mathematical Statistics

     

    ACTL3142

    Actuarial Data and Analysis

    CS2

    ACTL2102

    Foundations of Actuarial Models

     

    ACTL3141

    Actuarial Models and Statistics

     

    ACTL3162

    General Insurance Techniques

     

    ACTL3301

    Models for Risk Management

    CM1

    ACTL2111

    Financial Mathematics for Actuaries

     

    ACTL3151

    Life Contingencies

    'CM2

    ACTL3162

    General Insurance Techniques

     

    ACTL3182

    Asset-Liability and Derivative Models

    *CB1

    COMM1140

    Financial Management

     

    COMM1170

    Organisational Resources

     

    COMM1180

    Value Creation

    CB2

    ECON1101

    Microeconomics 1

     

    ECON1102

    Macroeconomics 1

    'Grade of CM2 = (3/4 of ACTL3182) + (1/4 of ACTL3162)
    * Grade of CB1 = (6/10 of COMM1140) + (2/10 of COMM1170) + (2/10 of COMM1180).

    ACTUARY PROGRAM+ COURSE CODE COURSE NAME
    Actuarial Control Cycle ACTL4001 Actuarial Theory & Practice A
      ACTL4002 Actuarial Theory & Practice B
    Data Analytics Principles ACTL4305 Actuarial Data Analytic Applications

    + Actuary Program: recommendations given for a grade of 65% and above. Actuarial Control Cycle will be calculated on the average of two courses.

  • FOUNDATION PROGRAM

    COURSE CODE

    COURSE NAME

    CS1

    ACTL2131

    Probability & Mathematical Statistics

     

    ACTL3162

    General Insurance Techniques

    CS2

    ACTL2102

    Foundations of Actuarial Models

     

    ACTL3141

    Actuarial Models and Statistics

     

    ACTL3142

    Actuarial Data and Analysis

     

    ACTL3162

    General Insurance Techniques

    CM1

    ACTL2111

    Financial Mathematics for Actuaries

     

    ACTL3151

    Life Contingencies

    'CM2

    ACTL3162

    General Insurance Techniques

     

    ACTL3182

    Asset-Liability and Derivative Models

    "CB1

    ACCT1501

    Accounting & Financial Management 1A

     

    ACCT1511

    Accounting & Financial Management 1B

     

    FINS1613

    Business Finance

    CB2

    ECON1101

    Microeconomics 1

     

    ECON1102

    Macroeconomics 1

    'Grade of CM2 = (3/4 of ACTL3182) + (1/4 of ACTL3162)

    * Grade of CB1= (3/10 of ACCT1501) + (3/10 of ACCT1511) + (4/10 of FINS1613)

    ACTUARY PROGRAM+

    COURSE CODE

    COURSE NAME

    Actuarial Control Cycle

    ACTL4001

    Actuarial Theory & Practice A

     

    ACTL4002

    Actuarial Theory & Practice B

    Data Analytics Principles

    ACTL4305

    Actuarial Data Analytic Applications

    +Actuary Program: recommendations given for a grade 75% and above in 2020 class (65% in 2021+ class) Actuarial Control Cycle will be calculated on the average of two courses.

  • FOUNDATION PROGRAM

    COURSE CODE

    COURSE NAME

    CS1

    ACTL5101

    Probability & Statistics for Actuaries

     

    ACTL5110

    Actuarial Data and Analysis

    CS2

    ACTL5103

    Stochastic for Actuarial Applications

     

    ACTL5104

    Actuarial Statistics

     

    ACTL5106

    Insurance Risk Models

     

    ACTL5301

    Models for Risk Management

    CM1

    ACTL5102

    Financial Mathematics

     

    ACTL5105

    Life Insurance & Superannuation Models

    ^CM2

    ACTL5106

    Insurance Risk Models

     

    ACTL5109

    Financial Economics for Insurance and Superannuation

    CB1

    ACTL5108

    Finance and Financial Reporting for Actuaries

    CB2

    ECON5103

    Business Economics

    ^Grade of CM2= (3/4 of ACTL5109) + (1/4 of ACTL5106)

    ACTUARY PROGRAM+

    COURSE CODE

    COURSE NAME

    Actuarial Control Cycle

    ACTL5100

    Actuarial Theory & Practice A

     

    ACTL5200

    Actuarial Theory & Practice B

    Data Analytics Principles

    ACTL5305

    Actuarial Data Analytic Applications

    + Actuary Program: recommendations given for a grade 65% and above. Actuarial Control Cycle will be calculated on the average of two courses.

  • FOUNDATION PROGRAM

    COURSE CODE

    COURSE NAME

    CS1

    ACTL5101

    Probability & Statistics for Actuaries

     

    ACTL5106

    Insurance Risk Models

    CS2

    ACTL5103

    Stochastic Models for Actuarial Applications

     

    ACTL5104

    Actuarial Statistics

     

    ACTL5106

    Insurance Risk Models

     

    ACTL5110

    Actuarial Data and Analysis

    CM1

    ACTL5102

    Financial Mathematics

     

    ACTL5105

    Life Insurance & Superannuation Models

    ^CM2

    ACTL5106

    Insurance Risk Models

     

    ACTL5109

    Financial Economics for Insurance and Superannuation

    CB1

    ACTL5108

    Finance and Financial Reporting for Actuaries

    CB2

    ECON5103

    Business Economics

    ^Grade of CM2= (3/4 of ACTL5109) + (1/4 of ACTL5106)

    ACTUARY PROGRAM +

    COURSE CODE

    COURSE NAME

    Actuarial Control Cycle

    ACTL5100

    Actuarial Theory & Practice A

     

    ACTL5200

    Actuarial Theory & Practice B

    Data Analytics Principles

    ACTL5305

    Actuarial Data Analytic Applications

    +Actuary Program: recommendations given for a grade 75% and above in 2020 class (65% in 2021+ class) Actuarial Control Cycle will be calculated on the average of two courses.

Application instructions 

Students should submit the exemption applications in Foundation Program after they have completed all applicable subjects in their curriculum. Applications for Actuary Program will continue to be accepted with Foundation Program and separately.

Exemptions 

At UNSW, we offer programs that cover the Institute’s Foundation Program. You may be granted exemptions from Foundation Program subjects if you pass the relevant university subjects at grades that are consistent with the Actuaries Institute's standards.