Part III consists of four Modules. One course must be completed in each Module. Each Module is one semester (15 weeks) in duration.
Members who have not completed Part II 2011 (The Actuarial Control Cycle + Part IIB Investment and Asset Modeling) must take the Investments Bridging Course if they do not take any Investments related options in Part III (i.e. C1, C5A or CFA) to become Fellows.
Module 1(Choose one)
Subject Name: Course 1 Investments
Delivery Provider: Access Macquarie
Delivery: 5 x 5 hour workshops on Saturdays in Sydney and via web conference. Online through Macquarie’s Blackboard LMS
Learning materials: Textbook (available from the Institute). Digital versions of course materials available in Macquarie's Blackboard LMS
Cost: $2620
Duration: one semester (15 weeks). NB - the delivery of this course will be discontinued in 2013, however credit for this course will continue.
Assessment: one assignment (15%), one 3 hour exam (85%)
Syllabus: click here for syllabus
Subject Name: Course C7A Enterprise Risk Management
Delivery Provider: Actuaries Institute
Delivery: 2 day workshop. No tutorials or online study.
Learning materials: Textbook and course materials available from ActEd Australasia (not included in course fees)
Cost: UK ST9 exam $560; 2 day ERM weekend workshop (Fellows - GST applied) $1710.50 ; 2 day ERM weekend workshop (Students and Associates - no GST) $1555.
Duration: one semester (15 weeks)
Assessment: UK ST9 Exam (100%)
Syllabus: click here for syllabus
Subject Name: UK ST1 Health and Care Exam
Delivery Provider: Actuaries Institute
Delivery: No tutorials or online study for UK ST1 exam. This course must be completed with the Actuaries Institute's online Private Health Insurance Course to satisfy the requirements for Part III Module 1.
Learning materials: Textbook and course materials available from ActEd Australasia (not included in course fees)
Cost: $560
Duration: one semester (15 weeks)
Assessment:UK ST1 Exam (100%)
Syllabus: click here for syllabus
Subject Name: Relevant PhDs
Details: Relevant PhDs by thesis from recognised universities may be considered for Module 1. Relevant areas include actuarial studies, statistics, economics, finance or other finance related disciplines. You will need to complete an application form and include documentary evidence of the qualification gained, a contact for verification, and a synopsis of your thesis. Applications will be assessed by the Institute’s Education Council Committee. ECC meetings in 2012 are held in February, May, August and October.
Subject Name: Accountancy Qualifications
Details: Accountancy qualifications recognised by the Institute of Chartered Accountants (ICA) or the Certified Practicing Accountants (CPA) or overseas equivalents are recognised for Module 1. You will need to complete an application form and include documentary evidence of your qualification, and a contact for verification.
Subject Name: Certified Financial Analyst (CFA) Charter Holder
Details: The Certified Financial Analyst (CFA) Charter Holder qualifications are recognised for Module 1. You will need to complete an application form and include documentary evidence of your qualification, and a contact for verification.
*any additional Module 2 (Part A) or Module 3 (Part B) subject can also be completed to satisfy the requirements of Module 1.
Module 2 (choose one)
Subject Name: Course 2A Life Insurance
Delivery Provider: Actuaries Institute
Delivery: 3 x 2 hour tutorials in Sydney or by web conference. Online through the Actuaries Institute's LMS
Learning materials: Textbook and printed course materials available from the Institute (not included in course fees). Digital versions of course materials available free in the Institute's LMS.
Cost: $1945
Duration: one semester (15 weeks)
Assessment: online discussion forum participation mark (10%), one 3 hour exam (90%)
Syllabus: click here for syllabus
Subject Name: Course 3A General Insurance
Delivery Provider: Actuaries Institute
Delivery: 3 x 2 hour tutorials in Sydney or by web conference. Online through the Actuaries Institute's LMS
Learning materials: Textbook and printed course materials available from the Institute (not included in course fees). Digital versions of course materials available free in the Institute's LMS.
Cost: $1945
Duration: one semester (15 weeks)
Assessment: online discussion forum participation mark (10%), one 3 hour exam (90%)
Syllabus: click here for syllabus
Subject Name: Course 5A Investment Management and Finance
Delivery Provider: Access Macquarie
Delivery: 5 x 5 hour workshops on Saturdays in Sydney and via web conference. Online through Macquarie’s Blackboard LMS
Learning materials: Digital versions of course materials available in Macquarie's Blackboard LMS
Cost: $2299
Duration: one semester (15 weeks). NB this course in only offered in Semester 2 each year.
Assessment: one assignment (15%), one 3 hour exam (85%)
Syllabus: click here for syllabus
Subject Name: Course 6A Global Retirement Income Systems
Delivery Provider: Actuaries Institute
Delivery: 3 x 2 hour tutorials in Sydney or by web conference. Online through the Actuaries Institute's LMS
Learning materials: Printed course materials available from the Institute (not included in course fees). Digital versions of course materials available free in the Institute's LMS.
Cost: $1945
Duration: one semester (15 weeks)
Assessment: online discussion forum participation mark (10%), one 3 hour exam (90%)
Syllabus: click here for syllabus
Module 3 (choose one)
Subject Name: Course 2B Life Insurance
Delivery Provider: Actuaries Institute
Delivery: 3 x 2 hour tutorials in Sydney or by web conference. Online through the Actuaries Institute's LMS
Learning materials: Textbook and printed course materials available from the Institute (not included in course fees). Digital versions of course materials available free in the Institute's LMS.
Cost: $1945
Duration: one semester (15 weeks)
Assessment: online discussion forum participation mark (10%), one 3 hour exam (90%)
Syllabus: click here for syllabus
Subject Name: Course 3B General Insurance
Delivery Provider: ActuarBes Institute
Delivery: 3 x 2 hour tutorials in Sydney or by web conference. Online through the Actuaries Institute's LMS
Learning materials: Textbook and printed course materials available from the Institute (not included in course fees). Digital versions of course materials available free in the Institute's LMS.
Cost: $1945
Duration: one semester (15 weeks)
Assessment: online discussion forum participation mark (10%), one 3 hour exam (90%)
Syllabus: click here for syllabus
Subject Name: Course 5B Investment Management and Finance
Delivery Provider: Access Macquarie
Delivery: 5 x 5 hour workshops on Saturdays in Sydney and via web conference. Online through Macquarie’s Blackboard LMS
Learning materials: Digital versions of course materials available in Macquarie's Blackboard LMS
Cost: $2299
Duration: one semester (15 weeks). NB this course in only offered in Semester 1 each year.
Assessment: one assignment (15%), one 3 hour exam (85%)
Syllabus: click here for syllabus
Subject Name: Course 6B Global Retirement Income Systems
Delivery Provider: Actuaries Institute
Delivery: 3 x 2 hour tutorials in Sydney or by web conference. online through the Actuaries Institute's LMS
Learning materials: Printed course materials available from the Institute (not included in course fees). Digital versions of course materials available free in the Institute's LMS.
Cost: $1945
Duration: one semester (15 weeks)
Assessment: online discussion forum participation mark (10%), one 3 hour exam (90%)
Syllabus: click here for syllabus
Module 4
Subject Name: Course 10 Commercial Actuarial Practice
Delivery Provider: Actuaries Institute
Delivery: 4 day Residential Course (compulsory for first timers) and online through the Actuaries Institute's LMS
Learning materials: Printed course materials available from the Institute (not included in course fees). Digital versions of course materials available free in the Institute's LMS.
Cost: Full course $4615 (inc catering for Sydney/Melbourne exam) ; Case Study Exam and Post Course Only (repeaters) $1250 (inc catering for Sydney/Melbourne exam). Accommodation is additional at $154 per night inc breakfast.
Duration: one semester (15 weeks)
Assessment: Post course Assignment (20%), 8 hour typed Case Study Exam (80%)
Syllabus: click here for syllabus
Full subject description of the Commercial Actuarial Practice Course is available from here.
Enrolment Rules
In order to sit Part III examinations, candidates must:
- be fully paid up members of the Institute
- enrol in the chosen Institute course(s) before the due date
For further information on the Part III courses you can contact us via:
T: +61 (0) 2 9233 3466
E: education@actuaries.asn.au
Fee Relief
Candidates in some emerging countries are eligible to apply for course fee relief from Institute Part III course fees. To apply for Part III Fee Relief, please download and print the Part III Fee Relief Application Form and return the completed form to the Education Manager prior to enrolling for a Part III course. N. B. Students requesting fee relief should not enrol on-line in the first instance.
Postage Costs
Postage or courier costs are charged to cover the delivery of course material to students. Specific costs for this service will be indicated on the online enrolment form.
Part III Refund Policy
The Institute normally refunds a proportion of the fees paid for Part III course and exam, depending on the date on which the Institute receives written notice of withdrawal. If a candidate is disqualified from sitting for an exam for any reason, or fails to sit the examination on the day, no refund will be payable. Click here to view the Part III Refund Policy.
Part III Course Materials
The Institute Part III course material contains a course guide and prescribed readings. It may also list items recommended as background reading (the Institute does not supply background reading). Candidates must thoroughly understand all items in the prescribed reading list. Candidates should keep up-to-date with economic developments in Australia as an essential part of their preparation, so that where appropriate, they can illustrate principles by reference to current affairs. It is recommended that candidates regularly read the financial press. The Institute accepts no responsibility for opinions expressed in the professional papers recommended. Of course, some of the older papers will not deal with issues that have emerged since these papers were written. Similarly, information given and opinions expressed in course notes may not reflect the view of the Institute
