Our research

Our academic staff are at the forefront of global thinking on issues relating to wealth and wellbeing, strong organisations, transformative innovation, and the

Student resources

Information about program and course selection, enrolment, change of program, variation to enrolment, status and other general matters.

Alumni

Our alumni may be found in the world’s leading companies, policy agencies and universities.

Contact us

Find contact details for any general enquiries.

Actuaries Institute requirements

The Australian National University (ANU) is accredited by the Actuaries Institute (the Institute) to provide students with exemptions from the Part I, Part II and some of the Part III requirements of the Institute.

The correspondence between ANU courses and the Actuaries Institute education program requirements are given below. This information is current for 2018, however, the education program requirements of the Institute are being reviewed and changes will commence in 2019. Please see the Actuaries Institute website for information about the changes to the education program and the requirements to become an Associate and Fellow of the Actuaries Institute, including transition arrangements.

Because of changes to the Institute education program, the Institute subjects and corresponding ANU courses required for specific exemptions will be changing. We expect that these changes will be finalised in late 2018, after which this website will be updated.

Part I

The Part I structure consists of eight Core Technical (CT) subjects. The correspondence between ANU undergraduate courses and CT subjects are set out in the following tables.

2017 - current

ANU undergraduate course

Institute subject

Financial Mathematics (STAT2032)

CT1

Business Reporting and Analysis (BUSN1001) and Corporate Finance (FINM2001)

CT2

Introductory Mathematical Statistics (STAT2001) and Regression Modelling (STAT2008)

CT3

Introduction to Stochastic Processes(STAT2005) and Survival Models (STAT3032)

CT4

Life Contingencies (STAT3037)

CT5

Risk Theory (STAT3035) and Credibility Theory (STAT3036)

CT6

Microeconomics 1 (ECON1101) and Macroeconomics 2 (ECON2102)

CT7

Investments (FINM2003) and Continuous Time Finance (FINM3003)

CT8

2013 - 2016

ANU undergraduate course

Institute subject

Financial Mathematics (STAT2032)

CT1

Business Reporting and Analysis (BUSN1001) and Corporate Finance (FINM2001)

CT2

Introductory Mathematical Statistics (STAT2001) and Regression Modelling (STAT2008)

CT3

Stochastic Modelling (STAT3004) and Survival Models (STAT3032)

CT4

Life Contingencies (STAT3037)

CT5

Risk Theory (STAT3035) and Credibility Theory (STAT3036)

CT6

Microeconomics 1 (ECON1101) and Macroeconomics 2 (ECON2102)

CT7

Investments (FINM2003) and Continuous Time Finance (FINM3003)

CT8

2012

ANU undergraduate course

Institute subject

Financial Mathematics (STAT2032)

CT1

Business Reporting and Analysis (BUSN1001) and Corporate Finance (FINM2001)

CT2

Introductory Mathematical Statistics (STAT2001) and Regression Modelling (STAT2008)

CT3

Stochastic Modelling (STAT3004) and Survival Models (STAT3032)

CT4

Life Contingencies (STAT3037) and Actuarial Techniques (STAT3038)

CT5

Risk Theory (STAT3035) and Credibility Theory (STAT3036)

CT6

Microeconomics 1 (ECON1101) and Macroeconomics 2 (ECON2102)

CT7

Investments (FINM2003) and Continuous Time Finance (FINM3003)

CT8

2008 - 2011

ANU undergraduate course 

Institute subject

Financial Mathematics (STAT2032)

CT1

Business Reporting and Analysis (BUSN1001) and Corporate Finance (FINM2001)

CT2

Introductory Mathematical Statistics (STAT2001) and Regression Modelling (STAT2008)

CT3

Stochastic Modelling (STAT3004) and Survival Models (STAT3032)

CT4

Life Contingencies (STAT3037) and Actuarial Techniques (STAT3038)

CT5

Risk Theory (STAT3035) and Credibility Theory (STAT3036)

CT6

Microeconomics 1 (ECON1101) and Macroeconomics 2 (ECON2102)

CT7

Investments (FINM3001) and Continuous Time Finance (FINM3003)

CT8

The ANU postgraduate courses which correspond with the Part I exemptions are set out below. 

2017 - current

ANU postgraduate course

Institute subject

Financial Mathematics (STAT6046)

CT1

Financial Statements and Reporting (BUSN7008) and Applied Corporate Finance (FINM7007)

CT2

Principles of Mathematical Statistics (STAT6039)

CT3

Introduction to Stochastic Processes (STAT7004) and Survival Models/Biostatistics (STAT7042/8003)

CT4

Life Contingencies (STAT6043)

CT5

Risk Theory (STAT8035) and Credibility Theory (STAT8036)

CT6

Business Economics (ECON8069)

CT7

Applied Investments (FINM7008) and Continuous Time Finance (FINM7003)

CT8

2013 s2 - 2016

ANU postgraduate course

Institute subject

Financial Mathematics (STAT6046)

CT1

Financial Statements and Reporting (BUSN7008) and Applied Corporate Finance (FINM7007)

CT2

Principles of Mathematical Statistics (STAT6039)

CT3

Stochastic Modelling (STAT7018) and Survival Models/Biostatistics (STAT7042/8003)

CT4

Life Contingencies (STAT6043)

CT5

Risk Theory (STAT8035) and Credibility Theory (STAT8036)

CT6

Business Economics (ECON8069)

CT7

Applied Investments (FINM7008) and Continuous Time Finance (FINM7003)

CT8

2012 - 2013 s1

ANU postgraduate course

Institute subject

Financial Mathematics (STAT6046)

CT1

Financial Statements and Reporting (BUSN7008) and Applied Corporate Finance (FINM7007)

CT2

Principles of Mathematical Statistics (STAT6039) and Regression Modelling (STAT6038)

CT3

Stochastic Modelling (STAT7018) and Survival Models/Biostatistics (STAT7042/8003)

CT4

Life Contingencies (STAT6043) and Actuarial Techniques (STAT6045)

CT5

Risk Theory (STAT8035) and Credibility Theory (STAT8036)

CT6

Applied Investments (FINM7008) and Continuous Time Finance (FINM7003)

CT8

2008 - 2011

ANU postgraduate course

Institute subject

Financial Mathematics (STAT6046)

CT1

Financial Statements and Reporting (BUSN7008) and Financial Management (FINM7007)

CT2

Principles of Mathematical Statistics (STAT6039) and Regression Modelling (STAT6038)

CT3

Stochastic Modelling (STAT7018) and Survival Models/Biostatistics (STAT7042/8003)

CT4

Life Contingencies (STAT6043) and Actuarial Techniques (STAT6045)

CT5

Risk Theory (STAT8035) and Credibility Theory (STAT8036)

CT6

Applied Investments (FINM7008) and Continuous Time Finance (FINM7003)

CT8

Part II

Part II of the Institute requirements comprises Part IIA - the Actuarial Control Cycle - and Part IIB - Investment and Asset Modelling. From 2012, the ANU courses which will correspond with the Part II exemption are set out below.

ANU courseInstitute subject
Actuarial Control Cycle 1 (ACST4031/ACST8040) Part II A
Actuarial Control Cycle 2 (ACST4032/ACST8041) Part II A
Investment and Asset Modelling (ACST4033/ACST8033) Part II B

Part III – Module 1 – Course C7A

One element of Part III of the Institute requirements comprises Course C7A which sits in Module 1.  From 2015, the ANU courses which will correspond with the exemption from Course C7A – Module 1 of Part III are set out below.

ANU courseInstitute subject

Enterprise Risk Management 1 (ACST8060)

Course C7A – Module 1 of Part III

Enterprise Risk Management 2 (ACST8061)

Course C7A – Module 1 of Part III

Grades Required

Part I

For Institute subjects covered by a single ANU course, the standard for exemption is a Credit grade (60 per cent or better). For Institute subjects covered by two ANU courses, the minimum standard for exemption is a Credit average across the two courses with a minimum of 50 per cent P in each relevant subject. A grade of 50 per cent PS (which is achieved if a student sits and passes a supplementary exam) is not sufficient.

Part II

From 2012, the standard for exemptions from the Institute Part II is achievement of a weighted Distinction grade average (70per cent or better) over the combination of the three units STAT4031/8040, STAT4032/8041 and STAT4033/8033, with a minimum requirement of 60per cent in each unit. Each course counts 1/3 towards the Part II exemption.

Part III

From 2015, the standard for exemptions from the Institute Part III – Module 1 - Course C7A Enterprise Risk Management is achievement of a weighted average mark of 75 per cent or better over the combination of the two units ACST8060 and ACST8061, with a minimum requirement of 65 per cent in each unit. Each course counts 50% towards this exemption.

Exemptions in the NUS Joint Degree

Exemptions for the NUS joint degree are generally the same as described above.  However some of the courses described above are not sat at ANU in the joint degree.  The following table describes differences between the above tables and the exemption arrangements under the NUS joint degree:

Institute SubjectDifference in exemption arrangement
CT2 Exemption based on ACC1002X (50 per cent), FIN2004 (25 per cent) and FIN3101 (25 per cent) at NUS
CT3 STAT2008 at ANU replaced with EC3303 at NUS
CT7 Exemption based on EC3101 and EC3102 at NUS

The exemption grade requirement for NUS subjects is also 60 per cent as per discussions above.

Applying for Exemptions

Students should only apply once they have completed their studies at ANU. Applications for exemptions will generally not be accepted from students who are mid-way through their actuarial studies at ANU.  Applications for exemptions will generally only be accepted within four years of completion of, or withdrawal from, the ANU degree in which the student was enrolled.

In order to apply for Part I and/or Part II exemptions, students should fill out the following form (PDF, 276KB) and email it to adam.butt@anu.edu.au. Students should fill in all parts of the form (including the exemptions they believe they are eligible for) with the exception of the accreditation actuary signature and date of signature. The accreditation actuary will check the form for the accuracy of the eligible exemptions. The preferable file format is a scanned pdf; you may fill the form out by typing although your signature must be hand drawn or scanned from a hand drawing. Students who wish to apply for exemptions due to study external to ANU should contact adam.butt@anu.edu.au before filling out the above form.

Unless the student indicates otherwise by email, it will be assumed that they wish for their exemption to be processed by the Institute. A copy of the exemption letter will be sent to the Institute for processing, after which the Institure will then contact the student to inform them of how to go about claiming their exemptions, including the costs involved.

If a student wishes to use their exemptions for membership in an actuarial organisation besides the Actuaries Institute (e.g., the Society of Actuaries, or the UK Institute), it is up to the student to make contact with that actuarial organisation themselves, and enquire about the steps that they need to take to have their exemptions recognised.  For the UK, Part I exemptions line up identically with the CT subjects offered by the UK Institute.  For the Society of Actuaries (SoA), ANU courses can be used to obtain the Validation by Educational Experience (VEE) Requirements as follows:

ANU CourseSoA VEE subject
Regression Modelling (STAT2008/STAT6038) and Credibility Theory (STAT3036/STAT8036) Applied Statistical Methods

Corporate Finance (FINM2001) and Derivatives (FINM2002)

OR Applied Corporate Finance (FINM7007)

Corporate Finance
Microeconomics 1 (ECON1101) and Macroeconomics 1 (ECON1102) Economics

In addition, or alternatively, exemptions obtained through ANU study can be used to obtain waivers from SoA examinations as follows:

ExemptionSoA exam
CT1 Exam FM
CT2 VEE Corporate Finance

CT3

Exam P

CT4 & CT5

Exam MLC-Life Contingencies
CT6 Exam C and VEE Applied Statistics
CT7 VEE Economics
CT8 Exam MFE-Financial Economics

Any questions about this exemption policy should be directed to Adam Butt (adam.butt@anu.edu.au).

Updated:   16 October 2018 / Responsible Officer:  CBE Communications and Outreach / Page Contact:  College Web Team