Course Overview

About This Course

This course is intended to serve two purposes:

(i) Provide a graduate conversion course for graduates from other disciplines who want to retrain in actuarial science and obtain exemption from the corresponding subjects in the Foundation Program of the Actuaries Institute and / or the relevant exams of the Society of Actuaries, and

(ii) provide a vehicle for graduates with an actuarial undergraduate degree who have already completed or partially completed subjects in the Foundation Program and wish to complete the corresponding subjects in the Actuary Program of the Actuaries Institute and / or the relevant exams of the Society of Actuaries.

The course is multidisciplinary in its content and covers statistical theory, financial reporting, economics, financial mathematics, life insurance mathematics, general insurance mathematics, financial economics, survival analysis, actuarial modeling, data science / analytics, and units covering application of the knowledge and skills to the management of financial institutions, development of new products, financial measurement, regulation, ethics, marketing etc. The course covers the core technical knowledge and skills, along with application of these to financial institution management.

Where You Can Study

Available Locations

Sydney

Levels 23 & 24, 123 Pitt St, Sydney, NSW 2000

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Student Information

Fees & Entry by Student Type

Tuition Fee

AUD $36,400 per year

Duration

Full time: 2 years

Intakes

Session 1 | Session 2

Study Mode

Full-time

Eligibility

Entry Requirements

General Requirements

Domestic students:

AQF level 7 bachelor's qualification or recognised equivalent (which includes a minimum of one unit of Mathematics covering calculus and linear algebra)

International students:

AQF level 7 bachelor's qualification or recognised equivalent (which includes a minimum of one unit of Mathematics covering calculus and linear algebra)
IELTS (Academic) overall band 6.5 with minimum sub-scores: listening 6, reading 6, writing 6, speaking 6, or an approved equivalent
CRICOS-registered course - a valid student visa is required to study on campus

Career & Study Pathways

Where this takes you

Career Opportunities

g.
Graduates from our course are prepared for the world of work, particularly in the financial sector, via the highly applied focus of the content covered, and the problem solving, critical thinking and communication skills they acquire during the course.
In the same way that accounting graduates need to complete their "professional year" (which is often several years) via their accounting professional society after completing their undergraduate degree, Actuarial graduates also complete several years of post-university professional study and exams (while working) to become fully qualified Fellows of the actuarial profession.
Our graduates are well positioned to complete this post university study.

Quality & Recognition

Accreditation & Migration

Academic Regulator

TEQSA

Professional Body

Actuaries Institute of Australia

Accreditation Status

Accredited

Skills Assessor

Actuaries Institute

Course Content

Units of Competency

All Units20 units

STAT8310

Statistical Theory

ACST8095

Actuarial Data Analytics

ACST8083

Actuarial Statistics

ACST8081

Mathematics of Finance

ACST8052

Finance and Financial Reporting

ACST6040

Quantitative Research Methods

ACST8082

Contingent Payments

ACST8086

Actuarial Modelling

ECON8091

Economics for Actuaries

ACST8031

Actuarial Control Cycle 1

ACST8044

Statistical Learning for Risk Modelling I

BUSA8001

Applied Predictive Analytics

ACST8084

Survival Models

ACST6029

Capital Budgeting and Financial Modelling

ACST8032

Actuarial Control Cycle 2

ACST8085

Quantitative Methods for Risk Analysis

ACST8087

Quantitative Asset and Liability Modelling 1

ACST8088

Quantitative Asset and Liability Modelling 2

ACST8045

Statistical Learning for Risk Modelling II

BUSA6004

Introduction to Inference, Modelling and Forecasting

Common Questions

Frequently Asked Questions

What is the total estimated cost of the Master of Actuarial Practice at Macquarie University?

The estimated total course cost is AU$96,446, which includes tuition fees of AU$95,700 and non-tuition fees of AU$746.

How long does the Master of Actuarial Practice take to complete?

The Master of Actuarial Practice has a duration of 104 weeks, as listed in the CRICOS registry.

Where is the Master of Actuarial Practice delivered?

The course is delivered at Macquarie University's Wallumattagal Campus at North Ryde, New South Wales, a location owned and operated by the provider.

Is the Master of Actuarial Practice eligible for extended Post-Study Work Rights?

No. Although the course meets some criteria — it is a Skills Level 1 qualification with a duration of 104 weeks — it falls under the broad Field of Education '08 - Management and Commerce', which explicitly disqualifies it from extended Post-Study Work Rights eligibility.

How can I contact Macquarie University for more information about this course?

Prospective students can contact Macquarie University's Prospective Student Contact Centre by phone at +61 2 9850 6767 or by email at study@mq.edu.au.

Application

How to Apply

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.

Course Snapshot

Salary, careers & skills

Typical Salary

Entry-level (0-2 years)AUD $70,000 to $90,000 per year

Early Career (2-5 years)AUD $90,000 to $120,000 per year

Mid-Level (5-10 years)AUD $120,000 to $165,000 per year

Career Paths

Graduate Actuarial AnalystActuarial Analyst – General InsuranceActuarial Analyst – Life InsurancePricing Analyst / ActuaryReserving Actuary

Key Skills

Advanced probability and statistical modellingFinancial mathematics and time value of money analysisStochastic processes and actuarial modellingLife contingencies and survival analysisRisk assessment, quantification, and management

Full Course Overview

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