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Thread: actuarial exemptions

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    Junior Member MuSaRuRWa's Avatar
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    actuarial exemptions

    IMPORTANT INFO FOR FIRST YR ACTUARIAL STUDENTS
    (can some mod pls stick this to the top thanx)


    Ø Part I exams

    o Course 101
    Course Name : Statistical Modelling
    Uni Subject : Probability & Statistics for Actuaries - ACTL2002

    o Course 102
    Course Name : Financial Mathematics
    Uni Subject : Financial Mathematics - ACTL2001

    o Course 103
    Course Name : Stochastic Modelling
    Uni Subject : Stochastic Modeling for Actuarial Applications - ACTL2003

    o Course 104
    Course Name : Survival Models
    Uni Subject : Actuarial Statistics - ACTL3001

    o Course 105
    Course Name : Actuarial Mathematics 1
    Uni Subject : Life Insurance and Superannuation Models - ACTL3002

    o Course 106
    Course Name : Actuarial Mathematics 2
    Uni Subject : Insurance Risk Models - ACTL3003

    o Course 107
    Course Name : Economics
    Uni Subject : Microeconomics 1 & Macroeconomics 2 OR
    Macroeconomics 1 & Microeconomics 2

    o Course 108
    Course Name : Finance and Financial Reporting
    Uni Subject : Business Finance & Corporate Financial Reporting (Acct 2B)

    o Course 109
    Course Name : Financial Economics
    Uni Subject : Financial Economics for Insurance and Superannuation - ACTL3004

    Ø Part II Exams (2 papers)

    o This can be done in the following ways :
    As a part of honours in actuarial science (this will take an extra year at uni)
    As non-award courses at uni (costs 4x more than doing directly through institute)
    Can be done directly through institute (as like subjects 107 and 108 of Part I)
    Co-op student


    Ø Part III

    To become a fellow of the institute, you will need to complete 2 of the following 5 papers.
    o Life Insurance
    o General Insurance
    o Superannuation
    o Finance
    o Investment Management


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    Alumni Minai's Avatar
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    stuck
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  3. #3
    Junior Member MuSaRuRWa's Avatar
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    Originally posted by Minai
    stuck
    wannabe mclake
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    Originally posted by MuSaRuRWa
    Ø Part III

    To become a fellow of the institute, you will need to complete 2 of the following 5 papers.
    o Life Insurance
    o General Insurance
    o Superannuation
    o Finance
    o Investment Management
    Part III also requires 45 weeks (or thereabouts, can't remember exact figure) of work experience under an FIAA and doing actuarial work (as well as a listening to some Professionalism Talk).

    Note also that with the implementation of the new syllabus, 103 and 104 have been combined into a single Exemption unit. (The remaining current Exemption units have direct counterparts in the new syllabus.) The new syllabus takes affect for the first years of 2004, and all universities offering Actuarial Studies are in a transitional phase.
    Last edited by flyin'; 26 Jun 2004 at 2:29 PM.

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    Junior Member MuSaRuRWa's Avatar
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    there's also something on how for part 3, they got 4 modules with finance n investment mngt being compulsory ... i dint really understand the new structure (which is to be implemented from 2006). so if u r keen to know more, g to http://www.actuary.co.uk
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    Yes, for Part III, by the time we do it, there will be four units of study, two of which will be compulsory. They are in essence half-year units.


    http://www.actuaries.asn.au/

    From there you can visit the Institute website in London.

  7. #7
    Junior Member MuSaRuRWa's Avatar
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    aah, studying to be a professional actuary seems like a 'perpetuity' ... *sigh*
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    Well, that's if things go wrong again and again and again...

    Otherwise, the future rewards are fixed and certain (to some extent) =p

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    yes, my actual brain redslert's Avatar
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    so it's really getting harder and harder each year?

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    I'm not sure if it's getting harder and harder?

    If anything Part III is easier because it has been split into four parts. So there is less content to learn in one attempt.

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    Junior Member MuSaRuRWa's Avatar
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    Originally posted by redslert
    so it's really getting harder and harder each year?
    i think redslert meant as we proceed thru the degree ....... well, i can say that 2nd yr is harder than 1st, dunno abt after that. i shall let u know next yr
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    Re: actuarial exemptions

    Originally posted by MuSaRuRWa
    Course 108
    Course Name : Finance and Financial Reporting
    Uni Subject : Business Finance & Corporate Financial Reporting (Acct 2B)
    Help me out here fellow-second-year-ACTL-buddy. Is this Business Finance 1613???? The first part at least?

  13. #13
    Junior Member MuSaRuRWa's Avatar
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    yes, business finance is fins1613.
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    Originally posted by MuSaRuRWa
    i think redslert meant as we proceed thru the degree ....... well, i can say that 2nd yr is harder than 1st, dunno abt after that. i shall let u know next yr
    If that was the question, then yes.

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    Ahh bugger I would have put more effort into it?? :/

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    Junior Member MuSaRuRWa's Avatar
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    Originally posted by Mill
    Ahh bugger I would have put more effort into it?? :/
    good luck
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    Haha I'm not worried about getting 65 or whatever. I'm worried that Accounting 2 is going to be a BITCH. lol ahhhh.

  18. #18
    Junior Member MuSaRuRWa's Avatar
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    one thing i forgot to mention wrt exemptions : for those students doing commerce/science with a com major in actl and a science major in either of stats or maths, u shouldnt be doing actl2002. instead u should do both (higher) theory of statistics and (higher) linear models. that will give u ur actl2002 exemption
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    Ok. One of us is definitely confused.

    I was under the impression it was Higher Linear Algebra that was the exemption subject, and not Higher Linear Models. And I know quite a few other people that are under this impression.

    So how do we go about checking on this?

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    Never mind. I checked. You are right. Linear Models is the exemption subject.

  21. #21
    Junior Member MuSaRuRWa's Avatar
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    Quote Originally Posted by Mill
    Never mind. I checked. You are right. Linear Models is the exemption subject.
    thank u
    not that i do stats or linear models ...
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    im in yr 12, and i was readin that UAC book... it made macquarie sound ALOT better....

    from my intepretation, it basically said You get exempt (or exemptions, cant remember) and if you're doing a "double" degree ( applied finance, economics, computer, law) or wateva, then u get part 2 exempt as well!!!

    how mad is that?

    or does it end up being the same?
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    (good luck to u all)

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    You can get Part 1 and 2 exemptions from UNSW if you so desire.

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    Don't you have to do honours at UNSW to get Part II, and honours have specific requirements?

  25. #25
    Junior Member MuSaRuRWa's Avatar
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    to get part II at unsw, u either do honours or a double degree. its the same as macq. u dont get part II in macq with a single degree either.
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