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Credit eligibility Master of Actuarial Studies and Master of Actuarial Practice

What is this?

You may believe that prior undergraduate study at another university (either in Australia or overseas) is equivalent to study that you would otherwise have to do as part of your actuarial degree at ANU. If this is the case you may wish to apply for exemption/credit based on this prior study.

What is the difference between Actuaries Institute exemption and ANU credit/exemption?

An Actuaries Institute exemption means you are not required to take one of the Core Technical exams required for Part I qualification from the Actuaries Institute. At ANU this exemption is obtained by completing specific courses within your degree.

ANU credit means you receive units towards completing your actuarial degree at ANU, thus reducing the number of courses you must complete to complete your degree. Instead of credit, an alternative option at ANU is that you may be able use your prior study to exempt you from a pre-requisite but not provide credit towards your actuarial degree. This is called an ANU exemption.

How do I apply for Actuaries Institute exemption based on prior study?

If you have undertaken study that is accredited by the Society of Actuaries (SoA), this can be transferred into the equivalent CT. For SoA exams this can be demonstrated by providing evidence of your pass in the relevant exam. For SoA Validation by Educational Experience from a prior insitution, this can be demonstrated by providing your relevant transcript. You can search to see if your prior institution has accreditation with the Society of Actuaries.

How do I apply for ANU credit/exemption based on prior study?

If you have studied SoA accredited units, qualified for VEE credit, or have already qualified for any exemptions or passed exams directly with the Institute of Actuaries, then you can apply for credit or exemption from study at ANU. If you do not have prior study equating to recognition by either the Actuaries Institute or the Society of Actuaries, you will not be considered for credit at ANU for exemption units.

The credit request should be on the appropriate form.

If you are applying for credit for an exemption unit (for example, STAT6046), you should provide a letter from the Actuaries Institute outlining your exemption status, a letter showing your result in a CT exam, or a letter/exam result from the Society of Actuaries showing your status; or your application to the Society to have your VEE status recognised.

If you are applying for credit for a unit that is not directly related to an exemption (for example, FINM7006), then you should provide the full course outlines (including details of the material covered and examined in the course) for the relevant units.

Updated:   30 June 2017 / Responsible Officer:  CBE Communications and Outreach / Page Contact:  College Web Team