Exemptions
If you want an exemption from Actuaries Institute subjects you’ll need to complete the exemption recognition form and submit it with a copy of your academic transcript to BusEco-Econometrics@monash.edu.
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If you want an exemption from Actuaries Institute subjects you’ll need to complete the exemption recognition form and submit it with a copy of your academic transcript to BusEco-Econometrics@monash.edu.
If you study an undergraduate ‘Actuarial Studies’ major or specialisation, you may be eligible for
exemptions for Foundation Program subjects of the Actuaries Institute. You may also be eligible for
Actuary Program subject exemptions by completing an Honours year (refer to the Masters section
below).
Exemption for each Foundation subject will be based on sufficient grades in one or more of the
Monash units listed below. You need to take every unit relevant to a Foundation subject. Where only
one unit is listed, you must get a distinction grade in that unit. Where two or more units are listed, you
will need to get an overall weighted average distinction grade, with a minimum of a credit in each unit.
The current weighting percentages are:
Foundation Program Subject | Monash Units |
|---|---|
CS1 Actuarial Statistics | ETC1000 (25%), ETC2420 (25%), ETC2520 (35%), ETC3580 (15%) |
CS2 Risk Modelling and Survival Analysis | ETC2420 (10%), ETC3420 (20%), ETC3430 (50%), ETC3550 (20%) |
CM1 Actuarial Mathematics | ETC1000 (10%), ETC2430 (35%), ETC3530 (55%) |
CM2 Financial Engineering and Loss Reserving | ETC3420 (20%), ETC3460 (25%), ETC3520 (55%) |
CB1 Business Finance | ACC1100 (50%), BFC2140 (50%) |
CB2 Business Economics | ECC1000 (55%), ECC1100 (45%) |
You will also need to complete ETC2410, as it is a prerequisite for some of the third year ETC units.
If you study the ‘Master of Actuarial Studies’, you may be eligible for exemptions for Foundation and
Actuary Program subjects of the Actuaries Institute.
Exemption for each subject will be based on sufficient grades in one or more of the Monash units
listed below. You need to take every unit relevant to a Foundation or Actuary subject. Where only one
unit is listed, you must get a distinction grade in that unit. Where two or more units are listed, you will
need to get an overall weighted average distinction grade, with a minimum of a credit in each unit.
The current weighting percentages are:
Foundation Program Subject | Monash Units |
|---|---|
CS1 Actuarial Statistics | ETC5242 (25%), ETC5252 (50%), ETC3580/ETC5580 (25%) |
CS2 Risk Modelling and Survival Analysis | ETC5242 (10%), ETC5342 (20%), ETC5343 (50%), ETC3550/ETC5550 (20%) |
CM1 Actuarial Mathematics | ETC2430 (45%), ETC5353 (55%) |
CM2 Financial Engineering and Loss Reserving | ETC3420 (20%), ETC3460 (25%), ETC3520 (55%) |
CB1 Business Finance | ACF5950 (50%), BFC2140 (50%) |
CB2 Business Economics | ECX5953 (100%) |
| Actuary Program | Monash Units |
|---|---|
| Actuarial Control Cycle | ETC4110 (50%), ETC4120 (50%) |
| Data Analytics Principles | ETC5250 (80%), Additional Assessment (20%) |
| Asset and Liability Management | Delivered by the Actuaries Institute |
| Communication, Modelling and Professionalism | Delivered by the Actuaries Institute |
Students will also need to complete ETC2410, as it is a prerequisite for some of the ETC53XX units.