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MASTER OF COMMERCE
(ACTUARIAL SCIENCE)
THE PROGRAM
• The Master of Commerce (Actuarial Studies) is for students who hold an actuarial degree and wish to pursue their actuarial training further. It focuses on actuarial theory and practice, specialising in quantitative techniques for insurance, superannuation and financial risk modelling.
• With sufficiently high results students are able to obtain exemptions from exams of the Actuaries Institute (Australia), including the whole of Part II.
• The program has a practice pathway, which focuses on advanced professional training, and a research pathway, which prepares students for the PhD in Actuarial Studies.
REMEMBER:
• We want you to succeed and are here to facilitate your learning.
• The more you put in to your studies, the more you will get out!
GET THE MOST OUT OF YOUR STUDIES AT MBS
• Plan your studies• Do your reading and class preparation• Ask questions in class• Participate in team activities• Follow assessment guidelines• Read your university emails - they contain
important information• Approach staff if you need help
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BE AN ACTIVE LEARNER
WORKLOAD
• Every student should devote no less than 9 hours study per subject per week outside of the classroom.
• A full-time study load of 4 subjects per semester requires at least 48 hours study per week (12 hours in class + 36 hours outside of class).
STUDY SKILLS
• The University’s Academic Skills team provide online resources, workshops and individual tutorials to improve your study skills and help you reach your academic potential.
• Visit the website for more information: services.unimelb.edu.au/academicskills
REMEMBER:
• Only one calculator is permitted: Casio FX82 (with any suffix)
• 15-minutes reading time
How to achieve good marks in actuarial exams
• Actuarial exams are relatively long and intense• Pay attention to mid-semester exams • Mixture of derivations and calculations• Be familiar with using a calculator• Attend all your classes and tutorials • Do not wait until the final exam period to review• Do a lot of exercises: specimen exam papers, past
exam papers, problem sets, past CT exams• Exam skills, speed, accuracy!
RECOMMENDED STUDY PLAN - PRACTICE PATHWAY
SEMESTER 1
Mathematics of Finance III CORE
Insurance Risk Models CORE
Actuarial Practice and Control I CORE
Elective ELECTIVE
SEMESTER 2
Constrained choice core (choose from 4) CORE
Actuarial Practice and Control II CAPSTONE
Elective ELECTIVE
Elective ELECTIVE
The Master of Commerce (Actuarial Science) Practice Pathway requires completion of 150 points comprised of 62.5 points of core actuarial subjects, 62.5 points of elective subjects and 2 capstone subjects worth 25 points.
SEMESTER 3
Constrained choice core (choose from 4) CORE
Actuarial Practice and Control III CAPSTONE
Elective ELECTIVE
Elective ELECTIVE
RECOMMENDED STUDY PLAN - RESEARCH PATHWAY
SEMESTER 1
Mathematics of Finance III CORE
Insurance Risk Models CORE
Actuarial Practice and Control I CORE
Elective ELECTIVE
SEMESTER 2
Constrained choice core (choose from 5) CORE
Actuarial Science Research Report Part 1 CAPSTONE
Elective ELECTIVE
Elective ELECTIVE
SEMESTER 3
Constrained choice core (choose from 5) CORE
Actuarial Science Research Report Part 2 CAPSTONE
Elective ELECTIVE
Elective ELECTIVE
The Master of Commerce (Actuarial Science) Research Pathway requires completion of 62.5 points of core actuarial subjects, 62.5 points of elective subjects and a 25 point research report.
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Elective options
CHOOSING SUBJECTS
other masters-level electives in actuarial studies, economics, finance or mathematics, as approved by the Program Director.
COMPLETE FIVE ELECTIVES FROM:
• Time Series Analysis and Forecasting
• Numerical Techniques in Finance• Systems Modelling and Simulation• Mathematical Statistics• Business Risk Management• Computational Statistics and Data
Mining• Algorithms and Complexity• Database Systems & Information
Modelling
&
TIPS ON CHOOSING SUBJECTS
• MULT90014 is closely related to the Course 7A ERM in Part III of the AI Fellowship.
• ACTL90018 is closely related to the Part III modules in General Insurance .
Other Masters level electives are accepted as approved by the Program Director.
The list of elective is extensive, if you wish to take other elective subjects you should clearly justify your choice.
Check pre-requisite requirements and time/date offered (via Student Portal).
Professional exams and exemptions
Professional exams and exemptions
Professional exams and exemptions
Part III: Specialist Subjects
Not currently taught at the University of Melbourne
• MULT900014 is closely related to the course 7A in the compulsory module Enterprise Risk Management
• ACTL90018 is closely related to the General Insurance module
USEFUL WEBSITES
The Master of Actuarial Science Students’ Guide can be found at:fbe.unimelb.edu.au/economics/ACT/courses/current_students
The Centre for Actuarial Studies:fbe.unimelb.edu.au/economics/ACT
GET UPDATES ONLINE
COURSE PLANNING WEBSITE
The MBS Course Planning website contains important study planning information for your program
VISIT THE SITE FOR INFORMATION ABOUT:
• Subject selection
• Class registration
• Advanced Standing
• Student Support
• Recommended study plans
mbs.unimelb.edu.au/students/course-planning
My Unimelb is your personal portal to your enrolment (study plan) and email. It can be accessed at my.unimelb.edu.au using your University email account username and password.
After your have completed your online enrolment, you can use My Unimelb to register for classes, change subjects and even update your address details.
My Unimelb
CREATING YOUR CLASS TIMETABLE
• Students must enrol in subjects for the whole year
• Once enrolled, you must register in classes for Semester 1 only
• To register, log into the student portal my.unimelb.edu.au and select your preferred classes from the options available
Log a CREM Request:
students.unimelb.edu.au/admin/registration
Trouble registering in classes?
PLEASE NOTE:
• If you are unable to register for an electivebecause classes are full or clash with another subject, you must choose a different elective.
• If you are unable to register for a compulsory subject because classes are full or clash with another compulsory subject, log a CREM request.
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STUDENT CARD
You will need a UoM student card for administrative transactions, proof of identification for exams, access to study spaces and your library account. You should have your student card with you whenever you are on campus.
How to get your student card
You will need to:
1. Complete your course enrolment, including enrolling into subjects.
2. Upload your photograph via the CaptureME portal.
3. Wait for a confirmation email (this can take up to 24 hours). The email will let you know how to receive your student card (i.e. via post or collection).
More info: students.unimelb.edu.au/admin/student-card
BOUVERIE STREET FACILITY
Room G03, 233 Bouverie StreetOpening hours:Mon-Sun 9.00am-9.30pmClosed on University Holidays
The Spot - Opening hoursMon - Fri: 8.00am - 11.00pmWeekends: 8.00am - 6.30pmClosed on University Holidays
Teaching spaces are also available to students when no classes are scheduled
THE SPOT FACILITY
198 Berkeley Street (The Spot)
Level 1 Student Lounge Professional SpaceLevel 2 Student Lounge Professional SpaceLevel 3 Student Lounge Professional SpaceLevel 6 Student Lounge Professional Space
OPEN ACCESS
STUDENT
COMPUTING
SPACES
ORIENTATION
SKILLS
WORKSHOPS
Tue 20th - Fri 23rd Feb
• Registration essential: Seats allocated on a first come first served basis
• Specifically designed to prepare you for your first semester at MBS
mbs.unimelb.edu.au/students/orientation/program
HAVE YOU
REGISTERED
YET?
QUESTIONS?
