Application Guide: How to Become an Australian Actuary

Application Guide: How to Become an Australian Actuary

The demand for professional actuaries in Australia and the world is rising rapidly, and the demand for professional actuaries in medical insurance, venture capital, financial services institutions and state and federal governments is rising. In addition, experts studying in Australia in Gingillett learned that actuaries can also play a role in industries such as environmental protection, genetics, information technology, e-commerce and telecommunications. Actuaries are not only scarce senior professionals, but also one of the occupations in short supply for Australian immigrants, and one of the occupations with the highest starting salary for Australian graduates. It can be said that the employment prospects of actuaries are immeasurable. Actuaries have great room for development, but it also implies the difficulty of becoming actuaries from another side.

So how do you become an actuary when applying for studying in Australia?

The steps are as follows:

First, apply for a bachelor's degree in actuarial science from an Australian university-a student member of the Association of Actuaries.

Second, apply for an honorary bachelor's degree in actuarial science from an Australian university-AIAA, a member of the Association of Actuaries.

Any two of the three or five specialized courses.

4. 1 year recognized practical work experience.

Five-or two-day intensive lecture-based vocational course Five actuaries

Australian actuarial courses:

Bachelor of actuarial science

The Department of Finance and Applied Statistics offers a bachelor's degree in actuarial science. The general academic system is three years. School starts in February every year. The total score of IELTS is 6.5, and the single item shall not be less than 6.0. Education requires that you must complete the first-year courses (including undergraduate and junior college courses) recognized by the Ministry of Education of China with excellent results; Or complete the 12 grade course in Australia; Or complete the Australian preparatory course with excellent results; There are higher requirements for mathematics.

Through the study of bachelor's degree in actuarial science, graduates can work in banks, governments and other institutions, and engage in financial risk assessment and management, debt management, insurance brokerage, consulting and top management.

Honorary bachelor degree in actuarial science

On the basis of completing the actuarial bachelor's degree course, complete the fourth year actuarial honorary bachelor's degree course. General requirements and? Bachelor of actuarial science? Same. According to experts studying in Australia, students who want to complete the second part of the Australian Institute of Actuaries need to take an honorary bachelor's degree in actuarial science or an independent postgraduate course.

Master of Actuarial Science

The general educational system is one year/two years. School starts in February every year. The total score of IELTS is 6.5, and the single item shall not be less than 6.0. The average score of 2 1 1 college students is required to be above 75, and the average score of non-21/college students is above 85.

The academic background requirements are as follows:

1. Applicants must have an Australian bachelor's degree or equivalent, and the average score for obtaining a bachelor's degree from an Australian university is above 65 (different institutions have different requirements);

2. Students who do not meet the above requirements are also eligible to apply if they have one year of full-time relevant work experience after graduation. However, the application of such students must be decided by the dean;

3. Students must have a mathematical foundation equivalent to the first year of college, including calculus and algebra. If students haven't taken these courses, they need to take the Mathematics Bridge course.

4. Students who can't meet the above requirements need to have at least one year of full-time relevant work experience after graduating from university.

Remarks: 1 year master of actuarial science requires higher education than 2 years.

The actuarial qualification examination and training in Australia can be divided into three parts, including basic courses, assistant courses and researcher courses. First of all, the basic course * * * contains eight courses, and the Australian Actuarial Association does not set the examination for this stage of the course. Students who have completed 15 of the 24 courses of bachelor's degree in actuarial science will be recognized by the Australian Association of Actuaries, and 8 courses will be exempted. Secondly, the quasi-actuary course needs to be studied in the institution offering the second part of the actuarial course, and it can be recognized as a quasi-actuary by the Australian Association of Actuaries as long as it passes the examination. Finally, to take the qualification examination organized by the Australian Actuaries Association, candidates can choose two exams from five professional courses (these five courses include: life insurance actuarial practice, non-life insurance actuarial practice, pension actuarial practice, investment management and finance). After passing the third part of the exam, you can be recognized as a full member of the Australian Actuarial Association, that is, an actuary, as long as you attend a two-day vocational training short course organized by the Actuarial Society and have one year of practical work experience.

Compared with other countries, it takes a much shorter time for Australia to obtain the qualification of actuary, and it can take the examination of the Association of Actuaries at the same time when completing academic courses. This model of learning while obtaining qualifications is very beneficial to the training of actuaries.

Employment prospects of actuaries

According to the statistics of Australian Actuaries Association, the starting salary of a professional who has just obtained the title of actuary (FIAA) in Australia is about 95,000 to 1 1 10,000 Australian dollars, and the annual salary increase is at least 1 1000 Australian dollars. A senior and experienced actuary can earn about A $200,000 a year. Can describe? Money? The scenery is magnificent.

Actuaries are senior professionals, and there are only 1 1,000 professionals with the title of actuary in Australia. With the rapid economic growth and financial internationalization in recent years, the demand for actuarial professionals in China is increasing. Experts studying in Australia have learned that there are very few actuaries in the real sense in China, and there are only a handful of talents with overseas study experience and certificate certification. Whether you choose to stay in Australia for employment or return to China for development, there will be broad room for development.

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