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Department of Actuarial Studies

Actuarial Studies Degrees

The Department of Actuarial Studies will be offering the following degrees for students commencing in 2010. Students should note that Macquarie University is currently implementing major changes to its undergraduate offerings and that some details are yet to be finalised. The following descriptions are correct at present but some details may be subject to change.

(Students who commence the actuarial program prior to 2010 can find more information about their programs here).

Bachelor of Actuarial Studies

The Bachelor of Actuarial Studies can be completed in 3 years of full-time study. Like most Macquarie University degrees, this degree requires students to study a minimum of 68 credit points. However, most students enrolled in this degree are aiming to gain exemptions from all the Part 1 subjects of the Institute of Actuaries of Australia. These students will probably complete 74 credit points over their three years of study. (It is possible to construct a 68 credit point program satisfying the degree rules which does not gain all the exemptions from Part 1.)

Double Degrees

In addition to the Bachelor of Actuarial Studies the above double degree are also offered and can be completed in 4 years of full-time study.

Like most Macquarie University double degrees, these degrees require students to study a minimum of 96 credit points. The double degrees involving Applied Finance and Statistics allow students to obtain exemption from all the Part 1 and Part 2 subjects of the Institute of Actuaries of Australia in programs of 97 credit points. The double degrees involving Economics and Mathematics are more challenging, requiring 103 credit points if students are seeking exemption from all the Part 1 and Part 2 subjects of the Institute of Actuaries of Australia. (It is possible to construct programs nearer to the required minimum of 96 credit points which do not provide exemptions from all the Part 1 and Part 2 subjects.)

Combined Degree with Law

These degrees can be completed in 5 years, but those wanting exemption from all Part 1 and Part 2 subjects will require 6 years.

We recommend that only students with a genuine interest in law and actuarial studies undertake this combined degree. Most students commencing this program drop-out of either the law or actuarial part of the combined degree before the beginning of their second year of study.

Advanced Standing

A graduate with an undergraduate degree from an approved Australian or overseas tertiary institution is eligible for "advanced standing" towards an undergraduate degree at Macquarie. Such graduates may be granted up to a maximum of 28 credit points, (including at most 10 credit points at 200 level) which may be counted towards the requirements of their Macquarie degree. (See Credit for Previous Studies)

No advanced standing is granted for passes in the exams of the Institute of Actuaries.