Actuarial Practice

Are you a maths whiz who wants stimulating work, limitless potential and an ever growing salary? This is the esteemed degree that will make you a thought leader in financial fields. With an ANU Master of Actuarial Practice degree you will excel your career literally anywhere in the world.

Risk is all around us - in investment markets, on the roads, from our health and the climate. This degree will teach you how to apply your mathematical talent in understanding, measuring and managing the risks.

Graduates will apply mathematical, statistical, financial, economic and other skills to untangle the most complex and difficult problems facing the commercial world.

Career Options

Learning Outcomes

1. Graduates of the Master of Actuarial Practice will have the necessary cognitive skills to demonstrate a superior knowledge and understanding of key concepts in actuarial studies and related fields.

2. Graduates will be able to demonstrate high levels of cognitive and technical skills in analysing and interpreting specific business situations so that the correct actuarial techniques can be applied.

3. Graduates will be able to demonstrate high levels of cognitive and technical skills as well as critical thinking to solve specific actuarial problems.

4. Graduates will have strong communication skills, being able to demonstrate the ability to communicate concisely, accurately, and confidently in a number of different mediums including written and oral.

5. Graduates will have strong communication and technical research skills to justify and interpret actuarial research planning, methodology and implementation. 

Professional Accreditation

The Master of Actuarial Practice allows students to undertake courses within the College of Business and Economics that are accredited by the Actuaries Institute to complete all academic requirements for achieving status as an Associate of the Institute. To become an Associate of the Institute, candidates must achieve exemption grades Part I and Part II courses, complete a Professionalism course, and have 3 years of relevant work experience in the financial services industry (not necessarily an actuarial role). 

The Master of Actuarial Practice requires the completion of 120 units , which must include: 

66 units from completion of the following compulsory courses:

STAT6039 Principles of Mathematical Statistics (6 units)

STAT6043 Life Contingencies (6 units)

STAT6045 Actuarial Techniques (6 units)

STAT6046 Financial Mathematics (6 units)

STAT7018 Stochastic Modeling (6 units)

STAT7042 Survival Models (6 units)

STAT8035 Risk Theory (6 units)

STAT8036 Credibility Theory (6 units)

ACST8033 Control Cycle B (6 units)

ACST8040 Control Cycle A1 (6 units)

ACST8041 Control Cycle A2 (6 units)

12 units from completion of core courses from the following list:

ACST8047 Advanced Life Insurance (6 units)

ACST8048 Advanced General Insurance (6 units)

ACST8049 Advanced Global Retirement Income Systems (6 units)

FINM8006 Advanced Investments (6 units)

ACST8060 Enterprise Risk Management I (6 units)

ACST8061 Enterprise Risk Management II (6 units)

42 units from completion of elective courses from the following list:

BUSN7008 Financial Statements & Reporting (6 units)

ECON8069 Business Economics (6 units)

FINM7003 Continuous Time Finance (6 units)

FINM7006 Foundations in Finance (6 units)

FINM7007 Applied Corporate Finance (6 units)

FINM7008 Applied Investments (6 units)

FINM7041 Applied Derivatives (6 units)

ACST8050 Research Essay in Actuarial Studies (6-12 units)

Students must achieve a minimum 60% weighted average mark in the first 48 units of courses attempted in order to remain enrolled in the Master of Actuarial Practice.

If the total number of units attempted exceeds 48 in the same teaching period in which the 48th unit is attempted, exactly 48 units will be used in the calculation of the weighted average mark with units from the course with the highest mark applied first followed by further units from courses in descending order of marks.

Students who do not achieve a minimum of 60% weighted average mark in the first 48 units will be transferred to the Graduate Diploma of Finance and Actuarial Statistics.

A Bachelor degree or international equivalent with an average mark of at least 65%, with at least one course in the field of mathematics that must cover calculus and linear algebra.

Students must achieve a minimum 60% weighted average mark in the first 48 units of courses attempted in order to remain enrolled in the Master of Actuarial Practice.

Applicants with a Bachelor Degree or Graduate Certificate in a cognate discipline may be eligible for 24 units (1 semester) of credit.

Applicants with a Graduate Diploma or Honours in a cognate discipline may be eligible for 48 units (1 year) of credit.

If the total number of units attempted exceeds 48 in the same teaching period in which the 48th unit is attempted, exactly 48 units will be used in the calculation of the weighted average mark with units from the course with the highest mark applied first followed by further units from courses in descending order of marks.

Students who do not achieve a minimum of 60% weighted average mark in the first 48 units will be transferred to the Graduate Diploma of Finance and Actuarial Statistics.

Cognate Disciplines

Finance, Accounting, Business, Economics, Statistics, Actuarial Studies, Maths, Business Information Systems, Management, Marketing, International Business, Engineering, Physics, Science

Pathways

Graduates of the Master of Actuarial Practice from ANU may progress to an Australian Qualifications Framework level 10 qualification (Doctoral Degree) subject to specific admission requirements.  

ANU offers a wide range of scholarships to current and future students to assist with the cost of their studies. The University is committed to enabling all students, regardless of their background, to achieve their best at ANU and realise their potential. 

Eligibility for ANU scholarships varies depending on the specifics of the scholarship and can be categorised by the type of student you are.  Specific scholarship application process information is included in the relevant scholarship listing.

For Domestic Students applying through UAC: If you have completed an overseas qualification, please send a scanned copy of your original testamur (graduation certificate) and academic transcript through to info.cbe@anu.edu.au. The scanned documents should be in colour and unaltered in size. Please include your name and UAC number in the email.