From 2019, the Institute of Actuaries of Australia (IAAust) made changes in their actuarial curriculum. As a result, the Parts I, II, and III are replaced by the Foundation Program (including, six subjects: CS1+2, CM1+2, CB1+2), Actuary Program and Fellowship Program respectively.
UG/PG students commencing their degree in 2019 and earlier, will not have any changes in their curriculum relevant to the Part I. The exemption will be awarded based on the mapping to the new curriculum (Foundation Program). Please refer to the mapping table below. However, the students who commenced studies in 2018 and 2019 can achieve exemption by either this original transition rule or the 2020 rule depending on your situation.
|Part I (CT1-CT8)||Foundation Program|
|CT4 & CT6||CS2|
|CT1 & CT5||CM1|
Note that if an exam in the new curriculum has two applicable subjects in the current curriculum, they will need to obtain exemptions in both subjects to be able to obtain exemption in the new subject (CS2, CM1).
For the Part II, students who obtain a full exemption from Part II (A+B) by the end of 2019 will continue to follow the previous path to be an Associate. If not, students need to study the subjects in the Actuary Program from 2020 (see the 2020 rule). For the detailed information regarding transition arrangement please check the webpage of Actuaries Institute.
For the Part III 7A, until 2020, UNSW actuarial students in the Honours degree or the Master of Actuarial Studies degree can attain exemption in the Enterprise Risk Management module by completing the courses ACTL4301/ACTL5301 and ACTL4302/ACTL5302 at the required standard.
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.