Actuarial & Statistics Masters Programs Research School of Finance, Actuarial Studies and Statistics

Actuarial Masters Programs Master of Actuarial Practice (2.5 years). All of Part I, all of Part II, and Part III Module 1 exemptions. Master of Actuarial Studies (2 years). Some of Part I, all of Part II, and Part III Module 1 exemptions.

Being an Actuary To be an actuary you need… To be good at maths. To be interested in statistics. To be interested in finance. To want to apply your skills to real world financial and insurance sector problems. The Institute of Actuaries of Australia (IAAust) is the professional body for actuaries. They regulate training, qualifications, continuing professional development, professional standards, code of conduct for actuaries, etc.

Qualifying as an Actuary – Parts I, II, III Part I: Eight Core Techniques (CT) either studied at an accredited university or UK exams via IAAust. Part II: Three Control Cycle courses at ANU (may be different at other accredited universities). Part III: Four modules available through IAAust. To be an Associate of the Institute of Actuaries (AIAA): Part I + Part II + 3 years work experience + Professionalism Course. To be a Fellow of the Institute of Actuaries (FIAA): Part I + Part II + Part III + Professionalism Course.

Example Subjects Statistics courses: Survival Models, Principles of Mathematical Statistics, Stochastic Modelling. Finance courses: Continuous Time Finance, Applied Corporate Finance, Applied Investments. Actuarial courses: Life Contingencies, Risk Theory, Credibility Theory, Control Cycle. Potential in final semester to do Research Essay in Actuarial Studies.

Careers Life Insurance and General Insurance: determining premium scales, designing policies, assessing risks, forming investment policy, determining reserves and financial viability. Superannuation: designing funds, projecting financial outcomes and fund solvency, providing advice and guidance to fund trustees. Investment: analysis of financial transactions and assessing risks, technical and management roles. Financial Services, Risk Management, Health Insurance, Business, Government, Consultancies.

Statistics Masters Program Two year degree. Example subjects: Regression Modelling. Principles of Mathematical Statistics. Graphical Data Analysis. Applied Statistics. Statistical Learning. Bayesian Data Analysis. Big Data Statistics.

Admission Requirements Master of Actuarial Studies/Practice and Master of Statistics: A bachelor degree with an average of at least 65% (or equivalent). Minimum of 1 course of university level maths including calculus and linear algebra. Introductory level understanding of mathematical statistics and financial mathematics. Master of Actuarial Studies/Practice: Must achieve average of 60% in first year to progress to the second year.

Graduate Certificate of Finance and Actuarial Statistics Possible pathway into the degree. Allows study of MATH1113 which meets the math entry requirements of the actuarial and statistics programs. Units studied can be transferred to Masters as credit. Need a 60% average across all units in the Graduate Certificate to transfer to a masters degree.

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