• We need YOUR help for the next generation of students! Upload your notes and exams on our Notes & Resources page!
  • You must be a registered member to download resources

actuarial exemptions (1 Viewer)

aditya

Member
Joined
Feb 14, 2004
Messages
807
Gender
Male
HSC
2007
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?
 

Mill

Member
Joined
Feb 13, 2003
Messages
256
Gender
Male
HSC
2002
You can get Part 1 and 2 exemptions from UNSW if you so desire.
 

flyin'

EDIT
Joined
Aug 21, 2002
Messages
6,697
Gender
Undisclosed
HSC
N/A
Don't you have to do honours at UNSW to get Part II, and honours have specific requirements?
 

MuSaRuRWa

Member
Joined
Jun 22, 2004
Messages
241
Location
UNSW
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.
 

flyin'

EDIT
Joined
Aug 21, 2002
Messages
6,697
Gender
Undisclosed
HSC
N/A
Actually, you can do a single degree and Part II at Macq.
 

aditya

Member
Joined
Feb 14, 2004
Messages
807
Gender
Male
HSC
2007
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....
 

Affinity

Active Member
Joined
Jun 9, 2003
Messages
2,065
Location
Oslo
Gender
Undisclosed
HSC
2003
by the way can you get exempted as you go? (is that likely)
 

aditya

Member
Joined
Feb 14, 2004
Messages
807
Gender
Male
HSC
2007
: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
 

MuSaRuRWa

Member
Joined
Jun 22, 2004
Messages
241
Location
UNSW
aditya said:
: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 ...
 

unmentionable

Member
Joined
Dec 13, 2003
Messages
112
Location
syd
Gender
Undisclosed
HSC
2004
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?
 

redslert

yes, my actual brain
Joined
Nov 25, 2002
Messages
2,373
Location
Behind You!!
Gender
Male
HSC
2003
unmentionable said:
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
 

maniacguy

Member
Joined
Mar 13, 2003
Messages
223
redslert said:
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!
UNSW Actuarial
Institute of Actuaries
 

kaseita

Member
Joined
Oct 10, 2002
Messages
454
Location
Castle Hill
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.
 

ramanij

Member
Joined
Feb 10, 2004
Messages
53
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?
 

§eraphim

Strategist
Joined
Jul 4, 2004
Messages
1,568
Gender
Undisclosed
HSC
N/A
ramanij said:
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?)
 

lawforever

Member
Joined
Dec 18, 2003
Messages
219
Gender
Male
HSC
2003
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?
 

flyin'

EDIT
Joined
Aug 21, 2002
Messages
6,697
Gender
Undisclosed
HSC
N/A
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.
 

lawforever

Member
Joined
Dec 18, 2003
Messages
219
Gender
Male
HSC
2003
flyin' said:
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 ! :)
 

t-i-m-m-y

Member
Joined
Nov 15, 2002
Messages
1,756
Gender
Male
HSC
2003
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.
 

Users Who Are Viewing This Thread (Users: 0, Guests: 1)

Top