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 1) courses when you have achieved Credit or above in the average of corresponding UNSW courses. Students must pass the course with a minimum mark of 50 to be included in the exemption mark calculation. 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.

Learn more

Undergraduate - Bachelor of Actuarial Studies 2021+

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.

Undergraduate - Bachelor of Actuarial Studies 2020

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.

Postgraduate 2021+

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.

Postgraduate 2020

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.

Exemption form

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.

Learn more

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Application for exemption recommendation: The 2020 and 2021+ rules