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 Science Principles ACTL4305 Actuarial Data Science 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 Science Principles
ACTL4305
Actuarial Data Science 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 Science Principles
ACTL5305
Actuarial Data Science 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 Science Principles
ACTL5305
Actuarial Data Science 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.