Actuaries Institute requirements

The ANU is accredited to grant exemptions from exams in the Foundation Program and Actuary Program of the Actuaries Institute. For exemption arrangements under the old structure, click here. Please see the Actuaries Institute website for information about the changes to the education program and the requirements to become an Associate and Fellow of the Actuaries Institute, including transition arrangements. It may be possible to transfer your exemptions to another actuarial society such as the Institute and Faculty of Actuaries (UK) or the Society of Actuaries (US).

Foundation Program

The Foundation program structure consists of six subjects. The correspondence between ANU undergraduate courses and Institute subjects are set out in the following tables.

2019 - current

ANU undergraduate course Institute subject
Introductory Mathematical Statistics for Actuarial Studies (STAT2013) (50%) and Regression Modelling for Actuarial Studies (STAT2014) (50%)  CS1
Introduction to Stochastic Processes (STAT2005) (25%) and Survival Models (STAT3032) (25%) and Risk Modelling 1 (STAT3057) (50%)  CS2
Financial Mathematics (STAT2032) (50%) and Life Contingencies (STAT3037) (50%)  CM1
Investments (FINM2003) (1/3) and Continuous Time Finance (FINM3003) (1/3) and Risk Modelling 2 (STAT3058) (1/3)   CM2
Business Reporting and Analysis (BUSN1001) (50%) and Corporate Finance (FINM2001) (50%)   CB1
Microeconomics 1 (ECON1101) (50%) and Macroeconomics 2 (ECON2102) (50%)  CB2

The ANU postgraduate courses which correspond with the Institute subjects are set out below. 

2019 - current

ANU postgraduate course Institute subject
Principles of Mathematical Statistics for Actuarial Studies (STAT6013) (50%) and Regression Modelling for Actuarial Studies (STAT6014) (50%) CS1
Introduction to Stochastic Processes (STAT7004) (25%) and Survival Models/Biostatistics (STAT7042/8003) (25%) and Risk Modelling 1 (STAT8057) (50%) CS2
Financial Mathematics (STAT6046) (50%) and Life Contingencies (STAT6043) (50%) CM1
Applied Investments (FINM7008) (1/3) and Continuous Time Finance (FINM7003) (1/3) and Risk Modelling 2 (STAT8058) (1/3)  CM2

Financial Statements and Reporting (BUSN7008) (50%) and Applied Corporate Finance (FINM7007) (50%)

CB1

Business Economics (ECON8069)

CB2

Actuary Program

The ANU courses which will correspond with the university-offered component of the Actuary Program are set out below.

ANU course Institute subject
Actuarial Control Cycle 1 (ACST4031/ACST8040) Actuarial Control Cycle (50%)
Actuarial Control Cycle 2 (ACST4032/ACST8041) Actuarial Control Cycle (50%)

Actuarial Data Analysis (ACTS4062/ACST8032)

Data Analytics Principles (100%)

Grades Required

Foundation program

The minimum standard for exemption is a 65 per cent weighted average with a minimum of 55 per cent in each relevant course. 

Actuary program

The minimum standard for exemption is a 70 per cent weighted average with a minimum of 60 per cent in each relevant course.

Exemptions in the NUS Joint Degree

Exemptions for the NUS joint degree are generally the same as described above.  However some of the courses described above are not sat at ANU in the joint degree. The following table describes differences between the above tables and the exemption arrangements under the NUS joint degree:

Institute Subject Difference in exemption arrangement
CB1 Exemption based on ACC1002X (50%), FIN2004 (25%) and FIN3101 (25%) at NUS
CB2 Exemption based on EC3101 (50%) and EC3102 (50%) at NUS

The exemption grade requirement for NUS subjects is as per discussions above.

Applying for Exemptions

Students should only apply once they have completed their studies at ANU. Applications for exemptions will generally not be accepted from students who are mid-way through their actuarial studies at ANU.  Applications for exemptions will generally only be accepted within four years of completion of, or withdrawal from, the ANU degree in which the student was enrolled.

In order to apply for exemptions, students should fill out the following form and email it to adam.butt@anu.edu.au. Students should fill in all parts of the form (including the exemptions they believe they are eligible for) with the exception of the accreditation actuary signature and date of signature. The accreditation actuary will check the form for the accuracy of the eligible exemptions. Students who wish to apply for exemptions due to study external to ANU should contact adam.butt@anu.edu.au before filling out the above form.

Unless the student indicates otherwise by email, it will be assumed that they wish for their exemption to be processed by the Institute. A copy of the exemption letter will be sent to the Institute for processing, after which the Institute will then contact the student to inform them of how to go about claiming their exemptions, including the costs involved.


Any questions about this exemption policy should be directed to Adam Butt (adam.butt@anu.edu.au). Details in this page are subject to periodic accreditation evaluations by the accrediting bodies.