Melbourne Business School's Master of Actuarial Science (Extended) provides a graduate pathway to prepare you for the actuarial profession and enables you to gain Part I (Foundation) accreditation exemption*. Graduates of this degree will be analytical in the application of actuarial theory, knowledge, principles, techniques and data. You will be problem solvers capable of explaining, applying and critically evaluating the use of actuarial models, particularly in relation to insurance and superannuation.

The program is designed to provide Part I (Foundation) professional exams accreditation exemptions* for the Actuaries Institute.

The two-year Master of Actuarial Science (Extended) is designed to provide non-actuarial graduates with their initial education in actuarial studies. If you do not have a background in probability and statistics, an additional semester at the beginning of the program will allow you to take the relevant subjects. It's suitable for graduates who have mathematical or statistical specialisations (e.g. mathematics, physics or engineering).

The degree is designed to be completed in 2-years of full-time study or part time equivalent and requires completion of 200 points. The degree consists of 16 semester-length subjects comprising:

• 8 discipline core subjects;
• 2 capstone subjects; and
• 6 elective subjects.

Actuarial studies is a discipline well-known for its quantitative aspects and mathematical rigour. A graduate qualification in this area can offer real competitive advantages in today’s financial services industry. An actuary’s work is based upon a multi-disciplinary background of mathematics, statistics, demography, finance and economics.

Professional Accreditation

Graduates of the Master of Actuarial Science who have performed at a sufficiently high level will be eligible for exemption from all of the subjects comprising Part I of the professional requirements of the Actuaries Institute.

Have completed an undergraduate or postgraduate degree with a major in mathematically based subjects, such as studies in mathematics, statistics, physics, engineering (or equivalent)

IELTS (academic English Only): 6.5 (no band less than 6.0)
TOEFL Internet-based test: 79 + ; Writing 21; Speaking 18; Reading 13; Listening 13;
Pearson Test of English Academic: 58 + no communicative skill below 50
Cambridge English: Advanced/ Certificate of Advanced English (CAE): 176 + no skill below 169.