Master of Actuarial Science (Enhanced)

University of Melbourne

Australia, Melbourne

University RankQS Ranking

Apply Now!

Go to Official Website

Home/Australia/Melbourne /University of Melbourne/Master of Actuarial Science (Enhanced)

University of Melbourne

Australia , Melbourne

Key Facts

Program Level

Master by Course Work

Study Type

Full Time

Delivery

On Campus

Course Code

0100879

Campuses

Parkville

Program Language

English

Start & Deadlines

Next Intake DeadlinesMarch-2026

Apply to this program

Go to the official application for the university

Duration 2 year(s)

Tuition Fee

AUD 56,992 / year

Next Intake March-2026

Master of Actuarial Science (Enhanced)

About

Overview

What is it about?

Melbourne Business School's Master of Actuarial Science (Enhanced) provides a graduate pathway to prepare you for the actuarial profession. Graduates of this degree will be analytical in the application of actuarial theory, knowledge, principles, techniques and data. They will be problem solvers capable of explaining, applying and critically evaluating the use of actuarial models, particularly in relation to insurance and superannuation.

The program is designed to provide exemptions from Part I (Foundation) and half of the Part II (Associateship) professional exams accreditation exemptions^* for the Actuaries Institute.

Who is it for?

The two-year Master of Actuarial Science (Enhanced) is designed to provide non-actuarial graduates with their initial education in actuarial studies. It's suitable for graduates who have mathematical or statistical specialisations (e.g. mathematics, physics or engineering).

Your other Actuarial Science program study options

Master of Commerce (Actuarial Science)

A 1.5-year program, if you have completed an actuarial science major previously. Provides Part II accreditation exemptions* for the Actuaries Institute.

Master of Actuarial Science

A 1.5-year program, if you have completed an undergraduate with a strong mathematical component, sufficient knowledge of statistics or probability. Provides Part I accreditation exemptions* for the Actuaries Institute.

Master of Actuarial Science (Extended)

A 2-year program, if you have completed an undergraduate with a strong mathematical component, but may not have sufficient knowledge of statistics or probability. Provides Part I accreditation exemptions* for the Actuaries Institute.

Graduate Diploma in Actuarial Science

A 1-year program, if you have completed an undergraduate with a strong mathematical and statistical component with a pathway to the Master of Actuarial Science or the Master of Actuarial Science (Enhanced).

^{*with sufficiently high academic results}

Register to attend a webinar

Requirements

Entry Requirements

Admission criteria

To be considered for entry into this course, you must:

Have completed an undergraduate or postgraduate degree with a major in mathematically based subjects, such as studies in mathematics, statistics, physics, engineering (or equivalent), AND
Have completed the subjects MAST20004 Probability and MAST20005 Statistics or subjects in probability and statistics at an equivalent level, AND
Submit a 500 word personal statement outlining why you wish to be considered for this course.

Meeting the published entry requirements for this course does not guarantee selection.

Where our admission criteria includes a minimum Weighted Average Mark (WAM) and/or specific subject criteria, these are based on University of Melbourne grades and subjects. If you've studied elsewhere, we'll assess your relevant prior studies and equivalent grades. Your final WAM may be adjusted depending on your previous institution's accreditation, subject grading, and pass marks.

Don't meet the prerequisite subject requirements?

You may have the option to enrol in specific single subjects through the University's Community Access Program, even if you are not enrolled in a course. Completing these prerequisite subjects may qualify you for entry into this course. This option is not available to student visa holders or applicants. Learn more about single subject study.

You can use our graduate coursework grade conversion eligibility calculator to get an indication of whether you are eligible for this course based on your previous studies and Weighted Average Mark (WAM).

Calculate your eligibility

English language requirements

All applicants to the University of Melbourne must satisfy the English language requirements. This may be achieved in a number of ways, including recognised previous study taught and assessed entirely in English or an approved English language test. If you are from a non-English speaking background, the required standard of English for this degree is one of the following English proficiency test scores:

English language test score requirements
If you need to undertake an English language test, you must meet one of the scores* below:

IELTS

6.5

with no band less than 6.0
TOEFL

79+

with writing 21; speaking 18; reading 13; listening 13
PEARSON

64+

with no communicative skill below 60
CAMBRIDGE

176+

with no skill less than 169
*Accepted tests: IELTS (Academic English Only); TOEFL Internet-based test; Pearson Test of English Academic; Cambridge English: Advanced/Certificate of Advanced English (CAE). If a test displays N/A, it means it is not accepted for this course.

About selection

When assessing applications, the Selection Committee will consider your previous studies and academic performance.

The Selection Committee may request additional information to clarify any aspect of an application, according to the University’s Academic Board rules regarding selection instruments.

Meeting the published entry requirements for this course does not guarantee selection.

The Selection Committee will consider your personal statement.

English Program Requirements

English language test score requirements

If you need to undertake an English language test, you must meet one of the scores* below:

IELTS

6.5

with no band less than 6.0

TOEFL

79+

with writing 21; speaking 18; reading 13; listening 13

PEARSON

64+

with no communicative skill below 60

CAMBRIDGE

176+

with no skill less than 169

*Accepted tests: IELTS (Academic English Only); TOEFL Internet-based test; Pearson Test of English Academic; Cambridge English: Advanced/Certificate of Advanced English (CAE). If a test displays N/A, it means it is not accepted for this course.

Career

Actuarial studies is a discipline well-known for its quantitative aspects and mathematical rigour. A graduate qualification in this area can offer real competitive advantages in today’s financial services industry. An actuary’s work is based upon a multi-disciplinary background of mathematics, statistics, demography, finance and economics.

Professional Accreditation

Graduates of the Master of Actuarial Science who have performed at a sufficiently high level will be eligible for exemption from all of the subjects comprising Part I of the professional requirements of the Actuaries Institute.