Professional recognition

The UNSW Australia Business School actuarial degree is accredited by the Actuaries Institute in Australia and recognised for exemptions for core technical subjects of the Institute and Faculty of Actuaries in the UK.

Our degrees are recognised for Validation by Educational Experience (VEE) by the North American Society of Actuaries and Casualty Actuarial Society. We are also recognised as a Center of Actuarial Excellence by the North American Society of Actuaries.

The profession of actuary is one of the oldest in the financial world. It is highly regarded and requires the completion of, or exemption from, examinations set by the professional bodies.

The Actuaries’ Institute, the Institute and Faculty of Actuaries (UK), the Society of Actuaries (North America) and the Actuarial Society of South Africa have mutual recognition arrangements that allow qualified Fellows to practice as fully qualified actuaries in their respective countries – with appropriate experience requirements. Qualified actuaries can also practice in many other countries without taking any additional examinations.

Australian qualifications

To qualify as an actuary in Australia requires the completion of, or exemption from, subjects in the professional syllabus of the Actuaries Institute. Qualification as a Fellow of the Institute of Actuaries of Australia (FIAA) requires the completion of subjects in Parts I, II and III of the professional examinations, and completion of a professionalism course.

Qualification as an Associate of the Institute of Actuaries of Australia (AIAA) is attained on completion of the subjects in Parts I and II, three years practical experience and completion of a Professionalism Course.

Part I

Part I requirements are covered by the relevant subjects in the Bachelor of Actuarial Studies or Master of Actuarial Studies

Part II

Part II requirements are covered by ACTL4001,ACTL4002 and ACTL4303 in fourth year or ACTL5100, ACTL5200 and ACTL5303 in the Masters degrees.

Part III

Part III requirements consist mostly of modules completed by distance education through the Institute of Actuaries of Australia usually on a part-time basis after completing the Part I and Part II subjects. UNSW actuarial students in the Honours degree or the Master of Actuarial Studies degree are able to attain exemption in the Enterprise Risk Management Part III module by completing the courses ACTL5301 and ACTL5302 at the required standard.