At UNSW School of Risk and Actuarial Studies, our degrees have received professional recognition by the Actuaries Institute (Australia), the Society of Actuaries (North America) and Casualty Actuarial Society for Validation by Educational Experience (VEE). We’re also recognised as a Center of Actuarial Excellence by the Society of Actuaries.
The Actuaries Institute has a mutual recognition agreement with the Institute and Faculty of Actuaries (IFoA) in the UK. If you wish to complete your studies with IFoA, you may be eligible to receive credit for subjects with the Actuaries Institute. The information for Transfer of Prior Learning (TPL), including the application form, can be found on their website.
The profession of actuary is one of the oldest in the financial world. It’s highly regarded and requires the completion of, or exemption from, examinations set by the professional bodies.
The Actuaries’ Institute, the Institute and Faculty of Actuaries (UK), the Society of Actuaries (North America) and the Actuarial Society of South Africa have mutual recognition arrangements that allow qualified Fellows to practice as fully qualified actuaries in their respective countries – with appropriate experience requirements. Qualified actuaries can also practice in many other countries without taking any additional examinations.
To qualify as an actuary in Australia requires the completion of, or exemption from, subjects in the professional syllabus of the Actuaries Institute. From 2019, qualification as a Fellow of the Institute of Actuaries of Australia (FIAA) requires the completion of subjects in Foundation Program, Actuary Program and Fellowship Program (previously known as Parts I, II and III respectively) of the professional examinations and one-year work experience.
Until the end of 2019, qualification as an Associate of the Institute of Actuaries of Australia (AIAA) is attained on completion of the subjects in Foundation Program and Part II, three years practical experience and completion of a Professionalism Course. From 2020, it requires Foundation Program, Actuary Program, one-year work experience and completion of C, M & P (Communications, Modeling and Professionalism) course.
Until 2019, Actuary Program requirements are covered by ACTL4001, ACTL4002 and ACTL4303 in fourth year or ACTL5100, ACTL5200 and ACTL5303 in the master degrees. From 2020, ACTL4303 and ACTL5303 is not an exemption from the Actuary Program, and ACTL4305 in the fourth year or ACTL5305 in the master degrees will be additionally offered for the new subject, Data Analytics Principles in Actuary Program.