Application for Exemption Recommendation: The 2020 and 2021+ Rules 

The 2020 Rule

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.

The 2021+ Rule

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.

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. 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 is also Credit or above.

*Note: academic transcripts are no longer required.

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

Learn More

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
*CB1 COMM1140 Financial Management
  COMM1170 Organisational Resources
  COMM1180 Value Creation

* Grade of CB1= (6/10 of COMM1140) + (2/10 of COMM1170) + (2/10 of COMM1180)

Note: For the rest of subjects (CM1, CM2 and CB2) and Actuary Program, the 2020 rule is applied.
 

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
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

'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: recommendations given for a grade over 75%. 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

Note: For the rest of subjects (CM1, CM2, CB1 and CB2) and Actuary Program, the 2020 rule is applied.

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
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

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

+Actuary Program: recommendations given for a grade over 75% Actuarial Control Cycle will be calculated on the average of two courses.