Department of Actuarial Studies

Accreditation Part 2

Part II

Part II of the program, the Actuarial Control Cycle, is an innovative means for learning how to apply actuarial skills to business situations. Developed by the Institute, this program is taught by Macquarie University, and in fact, Macquarie University is the Institute of Actuaries of Australia's provider of choice for the distance education offering of the Actuarial Control Cycle subject. Members of the Institute completing Parts I and II achieve Associateship (AIAA).

The two Actuarial Control Cycle subjects form Part II of the professional exams of the Institute of Actuaries of Australia. To gain exemption, please see the note below.

The units are available at undergraduate and postgraduate level.

Undergraduate
unit code		 Postgraduate
unit code		 Unit name
Semester 1 ACST400 ACST831 Actuarial Control Cycle 1
Semester 2 ACST401 ACST832 Actuarial Control Cycle 2


Students can enrol in:

  • ACST400 and ACST401 in the fourth year of their undergraduate degree.
  • ACST831 and ACST832 on a non-award basis.
  • ACST831 and ACST832 as part of the Master of Commerce in Actuarial Studies, Master of Commerce in Business or Master of Actuarial Practice.

Non-award enrolment means that you take subjects individually, not as part of a degree. However, if you study ACST831 and/or ACST832 on a non-award basis you can subsequently have your results in those units counted towards one of the Masters degrees listed above, provided they have not already been included as part of another degree.

ACST831 and ACST832 are available in three delivery modes.

  1. On-campus Mode: Lectures and discussion sessions are held 2 days per week at Macquarie University's North Ryde campus.
  2. Sydney City Mode: Lectures and discussion sessions are held one evening per week at a city location and are supplemented by internet delivery of course material.
  3. Distance education mode: This mode makes extensive use of the Internet.

ACST400 and ACST401 are only available in the "On-campus mode".

Exemptions:

You will be recommended for exemption from Part II if you attain grades of credit or better in the two Actuarial Control Cycle units. If you attain a credit or better in one of the units and only obtain a pass in the other, then the exemption will be recommended if and only if

  • a Standardised Numerical Grade (SNG) of at least 57 is achieved in both units and the average SNG is at least 65, both SNGs being obtained in 2004 or earlier; or
  • a SNG of at least 60 is achieved in both units and the average SNG is at least 65.