5. From the broad actuarial perspective, this is demonstrated through the explicit use of the Actuarial Practice and Control paradigm (see Course 6A, Learning Objective 4.1) both in the overall syllabus design and explicitly in Course 6A. Data Analytics Principles. Participate in the policy development process through our Public Policy Council Committee, Practice Committees, Taskforces and Working Groups. 8 Capital management and monitoring 5% These weightings are indicative of the approximate balance of the assessment of this subject between Communication, Modelling and Professionalism. Actuarial Control Cycle. Co-published by the Society of Actuaries and the Institute of Actuaries of Australia. 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 … This unit, in conjunction with ACST832, develops and applies the actuarial principles and practices underlying the design, assessment, management and control of financial systems in life and general insurance, superannuation, and other areas of actuarial practice.The two units consider the process of actuarial and financial management … Syllabus Topics Topic Weighting . Learning objectives The specific learning objectives of this week (Actuaries Institute Part II Syllabus) are for you to be able to: Outline and relate the factors to consider in determining a suitable design for a range of financial products, including new contracts for life insurance and general insurance, and the design of superannuation plans, from perspectives of major … Scheme design and financing (20%). 1. We look forward to helping you work towards meeting the profession’s standards for Part 2. The weightings also have a correspondence with the amount of learning material underlying each syllabus topic. 603 pages. Students may also gain exemptions by passing the exams of the Institute of Actuaries in London (IAA-Part I 2013). Qualification as a Fellow of The Institute of Actuaries of Australia (F.I.A.A.) The IAAust are releasing some chapters of the book early to students, on the condition that students will not copy these chapters or forward them to anyone else, and will purchase the book when it becomes available. Communication, Modelling and Professionalism. 3.2 Demonstrate how the Actuarial Control Cycle can be applied in a variety of practical commercial situations, including its use as a Risk Management Control Cycle. Part II of the Institute of Actuaries of Australia’s Fellowship requirements comprises Part IIA - the Actuarial Control Cycle - and Part IIB - Investment and Asset Modelling. Communication, Modelling and Professionalism. Print This Page. T… Managing schemes and risks (20%). You may be granted exemptions from these subjects if your university grades meet Actuaries Institute standards. Models, valuations and setting assumptions (30%). This page refers to exemption under the Part I, Part II and Part III qualification structure of the Actuaries Institute. Two subjects are taught by Actuaries Institute accredited universities: Two are delivered online by the Actuaries Institute: Students who commenced their studies prior to 2020 may have Transition Arrangements. 5 Risk identification and classification 5% . Access CPD and track your progress on the personalised member dashboard here. Mind the Gap – The Australian Actuaries Intergenerational Equity Index, Options for an Improved and Integrated System of Retirement, How to Make Private Health Insurance Healthier, The Impact of Big Data on the Future of Insurance, Unlocking Housing Wealth – options to meet retirement needs, For Richer, For Poorer – Retirement Incomes. Actuaries Institute. Please view the Institute's calendar for all upcoming events. 4 Risk Governance 5% . Two are delivered online by the Actuaries Institute: Asset and Liability Management. The Actuary Program comprises four subjects. 3.1 Describe the Actuarial Control Cycle and explain the purpose of each of its components. You may be granted exemptions from these subjects if your university grades meet Actuaries Institute standards. Your familiarity with its subject matter will probably have been largely gained within the Actuarial Control Cycle course and the Part III Module 1 course in Investments. © The Institute of Actuaries of Australia, Actuarial Sprint - an app for actuarial students, Phased Introduction of New Fellowship Program Subjects, Actuaries Digital (formerly Actuaries Magazine), Virtual Insights – COVID-19 Update from the Superannuation Practice Committee, Virtual Insights - COVID 19 - Capital Management, Insights - New Professional Standards – Role of Appointed Actuary, Insights - Proposed Changes to the Institute's Disciplinary Scheme, Insights - A Vote for Associates on Council, Insights and Other Events - Video Gallery, Injury and Disability Schemes Seminar 2021, Multi-practice Information and Discussion Notes Archive, General Insurance Information and Discussion Notes Archive, Life Insurance and Wealth Management Standards Archive, Life Insurance and Wealth Management Guidance Archive, Life Insurance and Wealth Management Information and Discussion Notes Archive, Other Life Insurance and Wealth Management Archive, Superannuation and Employee Benefits Standards Archive, Superannuation and Employee Benefits Guidance Archive, Superannuation and Employee Benefits Information and Discussion Notes Archive, Other Superannuation and Employee Benefits Archive, Practice Risk Management eLearning Course, Private Health Insurance eLearning Course, Compliance with CPD requirements of more than one association, Member Benefit for Self-Employed and Semi-Retired Actuaries, Australian Actuaries Climate Index (AACI), Developing the retirement income framework, Spending in Retirement and the Taper Rate, Private health and health care financing – Learning from the world, The impact of climate change on mortality and retirement incomes in Australia, The Social Condition Report - A Suggestion for Financial Services Businesses, People, Projections and Payments: A Look at Modern Government Service Delivery, Building Adaptive Capacity - Individuals, Groups and Society, Social Risks - for a financial services business, Climate Risk Disclosure – financial institutions feel the heat. Welcome to Macquarie University’s Actuarial Control Cycle and Investment Management units! Australia’s Longevity Tsunami – What Should We Do? Actuarial Control Cycle 1 - ACST831. 7 Responses to risk 7.5% . Detailed syllabus objectives 1 Actuarial advice (2.5%) (Unit 1) 1.1 Identify the clients that actuaries advise in both the public and private sectors and the stakeholders affected by that advice. At ANU the Actuarial Control Cycle comprises: • ACST4031/ACST8040 offered in First Semester and • ACST4032/ACST8041 offered in Second Semester. Access articles and papers of interest to practitioners, including intellectual property from past events. 2. Understanding Actuarial Management: the actuarial control cyclewas fi rst published in 2003 by the Institute of Actuaries of Australia, in response to demands from Australian universities for a resource to support Part II of its education syllabus. Clare Bellis, Richard Lyon, Stuart Klugman and John Shepherd, Editors. 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