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  1. #26
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    Actually, you can do a single degree and Part II at Macq.

  2. #27
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    no u cant :| - unless u mean honours

    but at mac u double major with applied finance... that is relevant... at UNSW they dunt consider that a double degree... so yeh, its shitter....
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    by the way can you get exempted as you go? (is that likely)
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  4. #29
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    :s the exams are to further ur qualifications arent they :S so if u dunt have the qualifications how can u further them?? right? :S
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  5. #30
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    Quote Originally Posted by aditya
    :s the exams are to further ur qualifications arent they :S so if u dunt have the qualifications how can u further them?? right? :S
    they arent to 'further' ur qualifications. without ur exemptions, u cant practice as an actuary and its very unlikely for u to get a job as an actuary ...
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    i have a very noob question to ask
    so to be exempt from Part II at UNSW i must do a double degree?
    does it have to be something specific like science majoring in maths or statistics or something? .... hmmm probably does

    also if i get co-op then ill be exempt without double right?

  7. #32
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    Quote Originally Posted by unmentionable
    i have a very noob question to ask
    so to be exempt from Part II at UNSW i must do a double degree?
    does it have to be something specific like science majoring in maths or statistics or something? .... hmmm probably does

    also if i get co-op then ill be exempt without double right?
    no at unsw the only way to get Part II is by doing honours in actuarial studies AFTER you complete the degree and get invited by the uni to do so
    take note that there are less than half a dozen honours students each year

    in co-op it is the same thing.....after the 4years co-op program, you can take up honours to get Part II which equals 5years

  8. #33
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    Quote Originally Posted by redslert
    no at unsw the only way to get Part II is by doing honours in actuarial studies AFTER you complete the degree and get invited by the uni to do so take note that there are less than half a dozen honours students each year

    in co-op it is the same thing.....after the 4years co-op program, you can take up honours to get Part II which equals 5years
    Actually, to complete the subjects in the control cycle (aka Part II), you only have to do the courses ACTL4001 and ACTL4002, with permission from the Head of Department (Mike Sherris). He'll take into account your results in other subjects and any work experience you have, etc. when deciding whether to let you do them or not.

    Doing honours is one way to enrol in those subjects, but by no means the only way. And you'd apply to do honours rather than being invited, generally, though there would be strong hints if you've done well that maybe you might want to think about it, if that counts as an invitation!

    You can do those courses in any of several ways, including (but probably not limited to):

    - as part of an honours year (in this case they are compulsory for you anyway)

    - in the fourth year of a combined degree program, assuming you've completed most if not all of the Part I exemption subjects and done reasonably well (or enough to convince Prof. Sherris anyhow)

    - in the fourth year of a co-op program (again there are requirements based on completing Part I exemptions, etc. but generally if you're still around as a co-op at this point it's reasonable to guess you meet the criteria!)

    In the same fashion you can do the control cycle at Macquarie by doing ACST400 and ACST401...

    [I should note that the last time I read the institute requirements, you're also supposed to have 3 months work experience to become an AIAA, though it's usually more important to get the subjects sorted out, since everybody is presumably going to be working at some point! They may have been tweaked a bit since then though]

    Checking with either the Department itself or with the Institute is certainly the best way to go about it!
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    Eh, this is out of date.

    There have been changes to subject exemptions starting next year.

    See here

    Main differences are that for the Economics component, only Macro 1, Micro 2 count (no longer Micro 1, Macro 2)

    Also the exemptions regarding ACTL2003, 3001, 3003 have changed.
    The exemptions are now called CT4 (models) and CT6 (contingencies). ACTL3001 corresponds to CT4, and ACTL3003 corresponds to CT6. ACTL2003 now corresponds to half of CT4 and half of CT6.

    So if you don't get credit for ACTL2003, you can make up for it by doing well in the other subjects.

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    how many yrs will it take to complete the b commerce/ b law? Is it 6 yrs if i want both part 1 and part 11 completed and 7 yrs for all 3 parts?

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    Quote Originally Posted by ramanij
    how many yrs will it take to complete the b commerce/ b law? Is it 6 yrs if i want both part 1 and part 11 completed and 7 yrs for all 3 parts?
    5 yrs (5 x 48uoc = 240uoc) but u only meet 7 of the 9 exemptions. Other exemption subjects and Part 2 subjects must be completed as non-award courses (overload maybe?)

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    just have a question here. is it possible to study Part 3 (IAAust) while u work overseas?

    given the fact that IOA UK and IAAust have the same syllabus, do u officially be recognized as a FIA if you r FIAA?
    Never argue with an idiot. They drag you down to their level then beat you with experience

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  13. #38
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    We only share the same Part I syllabus. Our Part II and III are different from theirs. You just do Part III by correspondence, so yes you can do it overseas I think.

    Under some IAA agreement with their UK counterparts, if you are an FIAA you'll be recognised as an FIA if you work for some length of time in UK as an actuary. Can't remember how long tho.

  14. #39
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    Quote Originally Posted by flyin'
    We only share the same Part I syllabus. Our Part II and III are different from theirs. You just do Part III by correspondence, so yes you can do it overseas I think.

    Under some IAA agreement with their UK counterparts, if you are an FIAA you'll be recognised as an FIA if you work for some length of time in UK as an actuary. Can't remember how long tho.
    thanks !
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    Re: actuarial exemptions

    More changes to the exemption. I'll post up the details later ('twas on WebCT). I think they ditched the ACCT2542 for ACCT1501 AND ACCT1511.

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    Re: actuarial exemptions

    Quote Originally Posted by t-i-m-m-y
    More changes to the exemption. I'll post up the details later ('twas on WebCT). I think they ditched the ACCT2542 for ACCT1501 AND ACCT1511.
    yup
    ACCT2542 replaced by ACCT1501+1511
    macro1/2+micro2/1 replaced by simply macro1+micro1

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    Re: actuarial exemptions

    Quote Originally Posted by ngai
    yup
    ACCT2542 replaced by ACCT1501+1511
    macro1/2+micro2/1 replaced by simply macro1+micro1
    yup great news no more annoying accounting

    i also have one more question...if i dont make it into honours (which i probably wont ) and since im not going to be doing a 4th year as im not doing a double degree or co-op ... how can i complete part II? Do i enrol as post-grad...do masters?

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    Re: actuarial exemptions

    wish i can go back to 2nd year when i saw this news ....

    regarding your question, unmentionable.
    Here are some common ways to do part II:

    1. do 4001 and 4002 on a non-award basis
    2. masters
    3. honours
    4. co-op
    5. Double degree (with science)
    Never argue with an idiot. They drag you down to their level then beat you with experience

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    Re: actuarial exemptions

    Yes, looks like ngai beat me to posting the changes.

    Also, if you complete the major in 2006, old rules apply. Completing the major in 2008 means the new rules apply. Those stuck in between, finishing the major in 2007 will get to choose between the old and new rules.

    I've checked with Bindya, and so I will be doing one ACTL300x subject next year (instead of this year), so that I will fall into the transition year - and thus get to choose what I can do. If I sit the ACTL300x subject this year, I'll have to do ACCT2542, Micro 2 etc.

    But yes, Part II must be studied at Macq, UNSW, ANU or Melbourne. For UNSW, it means completing ACTL4001/4002 or ACTL5100/5200 - it doesn't matter whether it is non-award, honours, or electives in a double degree.

    With the actual exemptions, does it really cost $230 per subject? And within 2 years of completing the "course" (or is that program/degree?) Or am I mis-reading something?

    Part I Exemption Fee
    If a student has been recommended for one or more Part I exemptions from one of the four accredited universities, the student is required to pay to the Institute an exemption fee. From 1 January 2006 the exemption fee will be A$230 per subject which must be paid within two years of completing the course, in order to gain exemption from the Institute Part I subject/s. No exemption fee is payable when a candidate who has passed Part I subjects (101-109 or CT1 - CT8) of the IoA (London) examinations seeks exemption from the corresponding subjects in Part I of the Institute syllabus.

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    Re: actuarial exemptions

    Quote Originally Posted by lawforever
    wish i can go back to 2nd year when i saw this news ....

    regarding your question, unmentionable.
    Here are some common ways to do part II:

    1. do 4001 and 4002 on a non-award basis
    2. masters
    3. honours
    4. co-op
    5. Double degree (with science)
    Options 2-3 require you to be accepted. Option 5 requires foresight from several years ago, and Option 1 is just the best. :P

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    Re: actuarial exemptions

    Quote Originally Posted by Harimau
    Options 2-3 require you to be accepted. Option 5 requires foresight from several years ago, and Option 1 is just the best. :P
    but non-award study is expensive.
    Never argue with an idiot. They drag you down to their level then beat you with experience

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    Re: actuarial exemptions

    does any know which courses or majors that go well with actuarial studies?

    so far i'm planning on majoring in Actuarial Studies, Finance and maybe Mathematics as well

    thnx

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    Re: actuarial exemptions

    Am i able to get the part II exemptions if i do a combined degree of actuary and computer science? Or do i have to do maths or statistics? Thanks

  24. #49
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    Re: actuarial exemptions

    Quote Originally Posted by so.fongy
    Am i able to get the part II exemptions if i do a combined degree of actuary and computer science? Or do i have to do maths or statistics? Thanks
    Part 2 exemptions are usually studied within the 4th year at uni or after you finish your part 1 exemptions. As along as you are enrolled in the actuarial studies course you can study your part 2 exemptions (given that you pass your part 1 exemptions).

    Computer sci,maths and stats are just other majors it has no direct relation to the exemption subjects because the part 2 subjects are under the actuarial studies unit code not the other faculty codes

    So yes to your first question and no to the other

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    Re: actuarial exemptions

    computer science is no longer listed as one of the majors for science on the program guide when i looked up com/sci. Does this mean i cant do actuarial studies and computer science? thanks

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