Actuarial Subject Changes for 2020
To ensure that we maintain full accreditation from the Actuaries Institute, a number of changes have been implemented in the Actuarial Studies subject offerings for the Bachelor of Commerce from 2020.
Below are a series of FAQ’s to assist students in understanding how these changes may affect their 2020 enrolment and where they can access assistance for specific issues.
Students can also contact Stop 1 for assistance with enrolment or course advice.
Please note that student study plans have already been updated to reflect these changes, where appropriate.
I started the B Com in 2019 and want to major in Actuarial Studies. What subjects should I enrol in for second year?
ACTL20001 Introductory Financial Mathematics
ACTL20003 Stochastic Techniques in Insurance
ACTL20004 Topics in Actuarial Studies
I’ve just finished year two of the B Com. What subjects should I enrol in for 2020?
If you wish to gain accreditation alongside your Actuarial studies within your Bachelor of Commerce, you are required to complete the following Level-3 Actuarial Subjects;
ACTL30001 Actuarial Modelling I
ACTL30002 Actuarial Modelling II
ACTL30007 Actuarial Modelling III
ACTL30008 Actuarial Analytics and Data 1
ACTL30004 Actuarial Statistics
ACTL30006 Intermediate Financial Mathematics
However, if you are only intending on completing a major in Actuarial studies (without accreditation) you will only need to complete at least 3 of the above subjects.
What should I do if I can’t select a required subject and add it to my study plan?
Stop 1 have successfully updated 351 Bachelor of Commerce Actuarial study plans which should allow students to make the required subject selections to continue their discipline studies in 2020. If you are unable to select a required Actuarial subject on your study plan despite having completed the required prerequisites and having the space available, please contact the Enrolment Variations team at Stop 1.
If I fail or have not completed ACTL20002 Financial Mathemetics II in Semester 2 2019 what is my next step as this subject is no longer offered from 2020?
The Faculty’s recommendation would be to, (where possible) consider alternative majors. Students who find themselves in this position should seek course advice from the Course Advice specialists at Stop 1. Understandably, as the Actuarial Major in extremely structured - failure of this subject would result in not being able to enrol in the required Level-3 subjects. Students insisting on continuing in the Actuarial Major would likely be required to take a Leave of Absence for Semester 1 2020 and to then enrol in ACTL20003 and ACTL20004 for Semester 2 2020.
I don’t have space for the additional Level-2 Actuarial subjects?
If you decide to continue your studies in Actuarial you may find that you do not have the space available to enrol in the 2 new subjects required and as such your study plan may need to be amended. These requests will be dealt with on a case by case basis and may require a student to over enrol within their BCom to 312.5 points to allow them to complete the accredited major.
I failed ACTL30003 Contingencies (25 points) what do I enrol in now?
Students who fail ACTL30003 Contingencies in 2019 will need to re-enrol into ACTL30003 Contingencies for Semester 2, 2020. As this subject is only available in semester 2 students may need to apply for a leave of absence.
Please note that from 2020, this subject is no longer worth 25 points (the equivalent of 2 subjects). A such, students who fail this subject may find themselves with space for an additional breadth/elective. This elective may be completed in semester 1 or semester 2, 2020.
Where can I find online student guides for Actuarial Studies?
The Centre for Actuarial Studies has produced a guide to assist students undertaking Actuarial Studies as part of their BCom or BCom (Honours) degree. The guide is intended to give students some general information about the possible subjects that can be taken as well as information regarding the actuarial profession and exemptions.