Part II

The Institute has a process of accrediting universities to teach and examine Part II (Actuarial Control Cycle). Four universities - the Australian National University (Canberra), Macquarie University (Sydney), the University of Melbourne (Melbourne), the University of New South Wales (Sydney) - offer accredited education programs that cover the Institute Part II syllabus.

Distance education options are available from Macquarie University and the University of Melbourne

These programs are offered either as part of an undergraduate honours degree, as part of a post graduate qualification or as non-award subjects. Details of the course arrangements and enrolment procedures for all four universities are set out in this section; however students are advised to contact the University for full details.

Download the Part II Syllabus from here.

Prerequisites

Candidates who wish to undertake Part II (Actuarial Control Cycle) should contact the relevant university to discuss entry requirements and any prerequisites or assumed knowledge.

Part II Assessment

There are two types of assessment used in the Part II (Actuarial Control Cycle) course:

Coursework

This includes assignments, projects and, where applicable, class presentations. It also includes a three-hour examination at the end of each semester (at least 70% of the assessment is based on examination)

The Institute monitors educational standards through an accreditation process that reviews syllabus coverage, examination setting and marking, grade distribution and exemption level at each university.

The examinations in Sydney, Melbourne and Canberra will be held at the respective university campuses and administered by the universities. The Institute can provide administration support to distance education locations through its examination centres. Distance education candidates at locations other than Institute exam centres will be required to find a supervisor acceptable to the relevant university. The universities will advise the actual dates as soon as they have been finalised.

Exemptions

The Institute grants exemptions from Part II on the basis of university grades, which are consistent with Institute standards. Once the student has given authorisation to the relevant university, the university advises the Institute of the students’ eligibility for Part II exemption. If students are Institute members, they are then advised that they are eligible for exemption from Part II.

For the purpose of university grades, each semester will be assessed separately. For the purpose of exemption from Part II, results in the two semesters will be combined.

Exemption eligibility is:

• an overall grade of Credit at the Australian National University
• an overall grade of Credit (B grade) at Macquarie University
• based on performance in end of semester examinations, and satisfactory completion of assignments at University of Melbourne
• an overall grade of Distinction (75%) at the University of NSW

Candidates repeating

If candidates sat the Part II (Actuarial Control Cycle) examinations previously but did not achieve an exemption level grade from Part II of the Institute syllabus, they may only need to repeat one of the two semesters. However, there may be cases in which it is advisable to repeat both semesters. Candidates should consult the university lecturers if they are unsure what to do.

Course fees

Please contact the relevant university regarding the course fees payable by the student to enrol in each semester.

For further information on the Part II Education Program you can contact us via: 

T: +61 (0) 2 9233 3466

E: education@actuaries.asn.au