The aim of the Actuarial Control Cycle is to provide students with an understanding of underlying actuarial principles that may be applied to a range of problems and issues in commercial and business environments. Students are expected to develop a holistic approach to practical problem solving, and develop a level of judgement and professional skills required to successfully apply actuarial principles. The syllabus relates to actuarial practice both in the financial services and in other industries. Examples will be drawn from traditional and non-traditional areas to illustrate and establish the underlying actuarial principles in a problem based learning approach, using case studies and business-based examples.
This subject, in conjunction with ACST8041, provides the opportunity for exemption from the requirements of the Actuarial Control Cycle subject under the Actuaries Institute’s Associate program. Such exemption depends on the grades attained over both subjects.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- Discuss and apply an actuarial control cycle in a variety of practical commercial situations
- Communicate the main features within the general environment to medium and long-term commercial decisions
- Analyse the main features and risks of financial products and contracts, from the point of view of consumers and providers
- Demonstrate an understanding of enterprise risk management
- Apply a risk assessment framework to identify and assess the risks in a range of situations
- Discuss and apply the process of product design
Other Information
See the requisite statement for information on eligibility to take this course.
Indicative Assessment
- Typical assessment may include, but is not restricted to: assignments, mid-semester exam and a final examination. (100) [LO 1,2,3,4,5,6]
In response to COVID-19: Please note that Semester 2 Class Summary information (available under the classes tab) is as up to date as possible. Changes to Class Summaries not captured by this publication will be available to enrolled students via Wattle.
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Workload
Students are expected to commit 130 hours of work in completing this course. This includes time spent in scheduled classes and self-directed study time
Inherent Requirements
Not applicable
Requisite and Incompatibility
Prescribed Texts
Information about the prescribed textbook will be available via the Class Summary
Specialisations
Fees
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- 3
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee |
|---|---|
| 2020 | $3900 |
- International fee paying students
| Year | Fee |
|---|---|
| 2020 | $6000 |
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.