
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 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.
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.
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.
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.