Actuarial Studies (Co op)

University of New South Wales

About

Please note:

Entry into this program is open to domestic students only.The Bachelor of Actuarial Studies (Co-op) (BActSt (Co-op)) is a highly valued and unique business qualification.

It provides high-achieving students with a strong, 4-year academic program, integrated with fully assessable industry placement experiences that enable students to work with … For more content click the Read More button below.Please note:

Entry into this program is open to domestic students only.The Bachelor of Actuarial Studies (Co-op) (BActSt (Co-op)) is a highly valued and unique business qualification.

It provides high-achieving students with a strong, 4-year academic program, integrated with fully assessable industry placement experiences that enable students to work with some of Australia's leading employers.The BActSt(Co-op) combines the requirements of the degree with 15 months of coordinated industrial experience at three different sponsoring organisations.

Industrial training extends outside university semesters.A scholarship is payable from funds donated by the sponsoring organisations, and entry to the program is limited to students awarded a scholarship through the BActSt(Co-op) selection procedures administered by the Co-op Program Office.

For baseline requirements to the UNSW Co-op program visit the future students page.Program benefits:Highly regarded by industryProvides students with the fundamentals of business and the option to explore their interestsPrepares students academically, technically and professionallyEquips students with the skills and knowledge to pursue a variety of career optionsAllows students to qualify for professional accreditation in a range of areas.Actuarial Studies involves the application of statistical and financial analysis and risk models to management in general, life and health insurance, superannuation, investment and finance.The Actuarial Studies program serves as a foundation for students who wish to enter the actuarial profession. Students must achieve the required academic standard in their Actuarial Studies courses to gain exemption from the Foundation Program of the Actuaries Institute professional examinations, the Core Principles courses of the Institute and Faculty of Actuaries (UK) professional examinations, and the Validation by Educational Experience (VEE) credit for the Society of Actuaries (USA) and Casualty Actuarial Society (USA).  Students (esp.

Actuarial Studies (Co-op) students and dual degree students) may also be eligible to gain exemption from the university accreditation components of the Associate Program of the Actuaries Institute professional examinations.The actuarial program of study also aims to develop the use of judgement and to provide the necessary combination of mathematical, statistical, accounting, economic, financial, demographic, analytical and quantitative modelling skills for a rewarding career in the financial services industry.

Employers in the financial services industry – including banks, insurers and consultants – value the rigorous quantitative risk training in the Actuarial Studies major.Read More

Structure

Specialisation Requirements

A Major in UNSW Business School is a sequence of at least 48 UOC in a single discipline or area of study. A Major in the School of Mathematics and Statistics comprises of at least 60 UOC. For the purposes of completing a Major in the School of Mathematics and Statistics, Students may treat: - MATH1151 as equivalent to MATH1141- MATH1251 as equivalent to MATH1241keyboard_arrow_down

  • MajorMinor
  • ACCTA148 UOCAccounting
  • ACTLE148 UOCActuarial Risk Management and Analytics
  • ECONF148 UOCBusiness Economics
  • ECONI148 UOCBusiness Strategy & Econ Mngmt
  • ECONJ160 UOCFinancial Economics
  • FINSA148 UOCFinance
  • FINSR148 UOCFinancial Technology
  • IBUSA148 UOCInternational Business
  • INFSA148 UOCInformation Systems
  • MARKA148 UOCMarketing
  • MATHE166 UOCQuantitative Data Science
  • MATHM160 UOCMathematics
  • MATHT160 UOCStatistics
  • MGMTA148 UOCManagement
  • MGMTH148 UOCHuman Resource Management
  • TABLA148 UOCBusiness Law
  • TABLC148 UOCTaxation

Level 1 Core Courses

Students must take 54 UOC of the following courses.keyboard_arrow_down

  • ACCT15016 UOCAccounting and Financial Management 1A
  • ACCT15116 UOCAccounting and Financial Management 1B
  • ACTL11016 UOCIntroduction to Actuarial Studies
  • ECON11016 UOCMicroeconomics 1
  • ECON11026 UOCMacroeconomics 1
  • FINS16136 UOCBusiness Finance
  • MATH11516 UOCMathematics for Actuarial Studies and Finance 1A
  • MATH12516 UOCMathematics for Actuarial Studies and Finance 1B
  • MGMT10016 UOCManaging Organisations and People

Level 2 Core Courses

Students must take 30 UOC of the following courses.Industrial Training Experience: Students complete industrial training experience courses within the area of their Co-op scholarship.keyboard_arrow_down

  • ACTL21026 UOCFoundations of Actuarial Models
  • ACTL21116 UOCFinancial Mathematics for Actuaries
  • ACTL21316 UOCProbability and Mathematical Statistics
  • ACTL210112 UOCIndustry Placement 1

Level 3 Core Courses

Students must take 48 UOC of the following courses.Students may replace ACTL2131 with the two courses MATH2901 Higher Theory of Statistics and MATH2931 Higher Linear Models. If students make this replacement, MATH2901 will count towards ACTL2131, and MATH2931 will be counted towards a major where this course is required or as an Business elective.Industrial Training Experience: Students complete industrial training experience courses within the area of their Co-op scholarship.keyboard_arrow_down

  • ACTL31416 UOCActuarial Models and Statistics
  • ACTL31516 UOCLife Contingencies
  • ACTL31626 UOCGeneral Insurance Techniques
  • ACTL31826 UOCAsset-Liability and Derivative Models
  • ACTL32026 UOCIndustry Placement 2
  • ACTL33036 UOCIndustry Placement 3

Free electives

Students must take at least 48 UOC of the following courses.keyboard_arrow_down

  • any course

General Education

Students must take 12 UOC outside of the UNSW Business School, excepting any courses listed under 'Excluded General Education Courses'.keyboard_arrow_down

  • any General Education course

Excluded General Education Courses

Students enrolled in programs within the UNSW Business School cannot take any course offered by the Business School in fulfillment of their General Education requirements. The following courses are also excluded as General Education options for students in UNSW Business School programs:keyboard_arrow_down

  • GENL20216 UOCIntroduction to the Australian Legal System
  • GENL20326 UOCCyberspace Law 2.0
  • DIPP11116 UOCIntroduction to Leadership and Professional Practice
  • CDEV11126 UOCCreating Your Career: Employability for the Future
  • CDEV30006 UOCPractice of Work
  • any course offered by UNSW Business School

Maximum Level 1 UOC

No more than 72 UOC of level 1 courses (excluding Level 1 courses completed as part of the General Education requirement) can be counted towards the degree.keyboard_arrow_down

  • any level 1 course

Minimum Faculty UOC

Students must complete a minimum of 120 UOC of courses offered by the UNSW Business School. This excludes the compulsory First Year core courses MATH1151 and MATH1251.keyboard_arrow_down

  • any course offered by UNSW Business School

Level 2 Maturity Requirements

Students must have completed 24 UOC before taking any of the following courses.keyboard_arrow_down

  • any level 2 course

Level 3 Maturity Requirements

Students must have completed 72 UOC before taking any of the following courses.keyboard_arrow_down

  • any level 3 course

Entry requirements

Additional selection criteria for admission to this program:

  • Other

A scholarship is payable from funds donated by the sponsoring organisations, and entry to the program is limited to students awarded a scholarship through the BActSt(Co-op) selection procedures administered by the Co-op Program Office. For baseline requirements to the UNSW Co-op program visit the future students page.

Learning outcomes

1.Lifelong learning: Graduates will be able to demonstrate the capacity to plan and manage their study and workloads to achieve self-direction, and personal and professional goals.

2.In-depth engagement with actuarial techniques: Graduates will be able to apply their in-depth knowledge of disciplinary fields in their practice, being the work of actuaries in financial institutions. This includes the conceptual frameworks in economics, statistics and management as well as insurance and finance

3.Social, ethical and global perspectives: Graduates will be able to demonstrate understanding of social and global perspectives on a range of cultural, environmental and economic spheres of engagement

4.Teamwork and Leadership: Graduates will be able to display collaborative skills in teamwork and a capacity for leadership

5.Communication: Graduates will be able to communicate effectively and confidently in oral and written forms, in a diverse range of contexts

6.Critical thinking and problem solving: Graduates will be able to collect, analyse and evaluate information and ideas, and define and solve problems

Institution