Distance Education - Actuarial Practice and Control Actuary Program

Introduction

The Centre for Actuarial Studies at the University of Melbourne offers its Actuarial Control Cycle subjects (ACTL90010 Actuarial Practice and Control I and ACTL90011 Actuarial Practice and Control II), and Data Science Principles subject (ACTL90019 Data Analytics in Insurance 2) as distance education subjects, as well as part of BCom (Honours) or Masters degree. These subjects collectively cover part of the Actuary Program of the Actuaries Institute syllabus for qualification as an Actuary.

The Centre also offers ACTL90018 General Insurance Practice as a distance education subject. This course is designed to provide useful background and preparation for the Actuaries Institute’s Fellowship level exams in General Insurance, enabling candidates to approach the material in a manner familiar from their previous studies for the Actuary Program. ACTL90018 General Insurance Practice cannot be used to gain an exemption from any professional exams of the Actuaries Institute. The Actuarial Practice and Control, Data Science Principles, and General Insurance subjects are offered on a non-award basis, meaning that students can enrol in these subjects without being enrolled in a degree or taking any other subjects at the university.

For candidates residing in Melbourne, the university offers a lecture series course.
For candidates residing outside Melbourne, either in other parts of Australia or overseas, the subjects are available as distance education courses. Distance students have online access to full audio and video recordings of the lectures and tutorials.

The Centre for Actuarial Studies is internationally recognised for actuarial teaching and research.
A team of established actuarial professionals teaches the university subjects.

The staff:

• collectively have a wealth of experience of actuarial practice;
• are up-to-date on current actuarial practices;
• are experts in different fields of actuarial practice.

The university provides audio-visual and other material online.

Prerequisites for Enrolment

The Foundation Program of the Actuaries Institute actuarial syllabus provides the necessary knowledge for entry to the Actuarial Practice and Control subjects. You will usually meet this requirement if:

• You have completed an actuarial undergraduate degree at one of the Australian universities accredited by the Actuaries Institute to provide its Foundation Program education, and you have been exempted from most of the Actuaries Institute Foundation Program examinations. The currently accredited universities are Macquarie University, the University of Melbourne, the University New South Wales, the Australia National University, Monash University, Bond University, Curtin University and Victoria University of Wellington.
• Or you have passed all Foundation Program exams through other pathways.

Acceptance into the Actuarial Control Cycle subjects and Data Science Principles subject will usually be automatic for applicants who meet the prerequisites set out above. If you are uncertain whether you meet the prerequisites, please contact the Centre for Actuarial Studies.

These Actuarial Control Cycle subjects form a natural sequence and, as a general rule, should be attempted in this order although Actuarial Practice and Control II and Data Analytics in Insurance 2 can be studied simultaneously in the same semester.

For entry to ACTL90018 General Insurance Practice, students should have completed ACTL90008 or equivalent, or have passed or been exempted from the CS1 exam.

Distance Education Course

Lectures

At the start of each subject, all students are provided with a study guide that outlines how the subject will progress, informs students of required reading, and gives instructions regarding assignments.

Assessment

For Actuarial Practice & Control I & II (APC I & II) assessment consists of group written coursework components (assignments and/or projects) worth 30 percent and a three-hour written examination at the end of semester worth 70 percent.

In Data Analytics in Insurance 2 assessment consists of individual written coursework components (assignments and/or projects) worth 40 percent and a three-hour written examination at the end of semester worth 60 percent.

For General Insurance Practice assessment consists of group written coursework components (assignments and/or projects) worth 30 percent and a three-hour written examination at the end of semester worth 70 percent.

All assessments are conducted by the university, with exams taking place within the university's examination periods. Examinations will be held at venues arranged by the University of Melbourne. Further details will be supplied closer to the examination dates.

The examinations in all locations will be held at the same times on the same dates. The first semester examinations will be held in late June/early July and the second semester examinations will be held in November. The actual dates will be advised by the university as soon as they have been finalized.

Exam marks are released in accordance with the university's academic calendar, with results posted on the Internet.

Please note:

• For the purpose of university grades, each subject will be assessed separately. For the purpose of exemption from the  Actuary Program of the Actuaries Institute university marks from APC I & II will be combined for consideration of Actuarial Control Cycle, and university mark from Data Analytics in Insurance 2 will be considered for Data Science Principles.
• Exemption will be recommended by the University of Melbourne based on students' university marks. To gain the exemption, results must be higher than a specific threshold (the latter varies, it is usually between 70 and 75); results from the two APC subjects are averaged.

Communication

Students are encouraged to discuss lecture content with each other and with staff. An Online Tutor will be available through subject web pages, and students may chat informally amongst themselves, or ask special questions of staff.

Staff are also contactable via telephone, email. The preferred method of communication is by email or Online Tutor question.