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52 weeks
On campus
Full time / Part time
March
Course Overview
Where You Can Study
Melbourne
234 St. Kilda Road, Southbank, VIC 3006
Student Information
Tuition Fee
Australian full fee (AF) AUD $37,984 (2026 indicative first year fee); Commonwealth Supported Places (CSPs) are not available
Duration
1 year full time / 2 years part time
Intakes
March
Eligibility
Career & Study Pathways
Quality & Recognition
Academic Regulator
TEQSA
Professional Body
Actuaries Institute of Australia
Accreditation Status
AccreditedSkills Assessor
Actuaries Institute
Course Content
Mathematics of Finance I
12.5 points, core. Actuarial modelling principles, interest rates, time value of money, cashflow valuation.
Mathematics of Finance II
12.5 points, core. Investment risk, portfolio theory, asset return models, efficient markets hypothesis, Brownian motion.
Mathematics of Finance III
12.5 points, core. Advanced financial mathematics — option pricing, Black-Scholes model, interest-rate models, credit risk.
Life Contingencies
12.5 points, core. Modelling and valuing cashflows dependent on death, survival or other uncertain risks.
Topics in Insurance and Finance
12.5 points, elective. Stochastic interest rate models, time series, ruin theory, claim run-off triangles.
Life Insurance Models I
12.5 points, elective. Survival models, mortality estimation, multiple state/decrement models.
Life Insurance Models 2
12.5 points, elective. Mortality variation, selection effects, mortality projections and machine learning basics.
General Insurance Modelling
12.5 points, elective. Loss distributions, collective/individual risk models, reinsurance effects, extreme value theory.
Common Questions
The Graduate Diploma in Actuarial Science takes 1 year full time or 2 years part time to complete.
The indicative first year fee for 2026 is AUD $37,984. Commonwealth Supported Places (CSPs) are not available for this course.
Yes, Graduate Diploma students can apply to transfer to the Master of Actuarial Science if they wish to gain additional benefits offered by the two-year degree.
The program is suitable for graduates who have a bachelor's degree that includes a strong mathematical component, and is also open to graduates who have completed some Part I professional exams.
The Graduate Diploma in Actuarial Science is taught on campus at the University of Melbourne's Parkville campus, with intake in March.
Application
Three simple steps to get enrolled
Step 01
Enquire
Click "Enquire Now" and tell us a little about yourself. It's free and takes 2 minutes.
Step 02
Submit Documents
Our team will guide you on exactly which documents to prepare and submit.
Step 03
Get Enrolled
Receive your offer letter and confirm your enrolment. Welcome to the course!
Processing time: Offer letter issued within approximately 1 business days.
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