Master of Actuarial Science (Enhanced)

The Master of Actuarial Science (Enhanced) course aims to provide university graduates who have a bachelor's degree that includes strong mathematical, probability and statistics components with a two-year program that prepare them for a future career in the actuarial profession. Graduates of the degree will be well placed to undertake further graduate work in actuarial studies or to enter the actuarial profession. The Master of Actuarial Science (Enhanced) course provides the fastest graduate pathway to the actuarial profession and enables students to gain exemptions from Part I (Foundation) and half of the Part II (Associateship) professional exams with sufficiently good performance in subjects taken in the degree.

On successful completion of this degree students will be able to:

• Describe, explain and apply the fundamental theories of actuarial science as they apply in life insurance, general insurance and superannuation;
• Assess the suitability of actuarial, financial and economic models in solving actuarial problems;
• Interpret and critically evaluate articles in the actuarial research literature.
• Analyse actuarial data using advanced statistical techniques;
• Calculate quantities such as premiums, reserves and superannuation contribution rates using actuarial techniques;
• Analyse real and hypothetical problems in insurance and superannuation;
• Demonstrate creativity and initiative in application of knowledge to problem solving and innovation;
• Describe the core areas of actuarial practice and relate to those areas actuarial principles, theories and models;
• Demonstrate a capacity to successfully work independently with personal accountability;
• Execute a project requiring research or a real-world application;
• Apply data analytics techniques in wider actuarial fields.

• Receptive to alternate ideas through a review of the literature and through class participation and assessment;
• Ethical in their approach to research and work practices;
• Advanced in their use, critical evaluation and testing of actuarial models;
• Adept in statistical reasoning through completion of core quantitative subjects in the degree;
• Advanced in problem solving through their understanding of financial, statistical and actuarial techniques;
• Skilled in working effectively with computer software for the analysis of data;
• Adept at retrieval, summary and interpretation of actuarial and financial information through class exercises and assessment;
• Able to apply and synthesise mathematical, statistical, financial and actuarial theory, models and evidence to a variety of financial and insurance issues;
• Able to apply data science in insurance;
• Independent and effective in communication of ideas;
• Able to collaborate and be effective in team work.