Professional Purpose

Professional Purpose

Bridging study for overseas-trained professionals

You can only undertake bridging study for overseas-trained professionals if you hold a written assessment statement issued by the assessing body for a listed professional occupation, for example CPA Australia or LPAB.

The assessment statement indicates the studies, examinations and/or tuition and training programs that you will need to undertake successfully in order to meet the requirements for entry to your profession in Australia. It is the responsibility of the student to arrange for an assessment of their previous qualifications by the relevant assessing body. Assessments cannot be done by Macquarie University.

After obtaining the assessment statement, it is strongly recommended you seek academic advice from the relevant department offering the unit to ensure you are enrolled into a unit that covers the content required in your assessment statement. Applicants may be eligible to apply for FEE-HELP to assist them in re-training in order to practice in Australia. Please note: applicants will only be eligible for FEE-HELP for the units listed on their assessment statement; any additional units that the applicant wishes to undertake will be on a non-award basis, that is: up front payment of full tuition fees.

For more information about bridging study for overseas-trained professionals and FEE-HELP, as well as a list of professional occupations and assessing bodies, please read the FEE-HELP Information Booklet, available online at Study Assist.

To apply, please ensure you provide each the following:

1. Evidence of Australian citizenship or permanent residency.

  • ONE of the following documents must be provided:
    • a current passport
    • an Australian citizenship certificate, or
    • visa grant notification
  • Exceptions: International students may apply to enrol in ACST8031, ACST8032, ACST8095 where students are not required to reside in Australia during the duration of the course.

2. Assessment letter from appropriate assessment body listed in the Study Assist website in order to apply for FEE-HELP. Students do have the option to pay for the unit upfront and not apply for FEE-HELP

3. An official academic transcript or record of study.

  • A transcript must clearly show the name of the institution, your student number, your name, the names of each unit or subject you have undertaken, the semester in which the study was undertaken and the result for each unit/subject. A printout of your current academic record from your University’s student system is acceptable. Your transcript should be recently issued and cover the current session.

Actuarial Control Cycle and Data Analytics

ACST8031, ACST8032 and ACST8095

Students who wish to complete the university component of the Actuary Program (formerly the Part II program) of the Australian Actuaries Institute must complete the following units:

  • Actuarial Control Cycle – ACST8031 Control Cycle 1 and ACST8032 Control Cycle 2. Student has to achieve a Standardized Numerical Grade (SNG) of at least 60 in each unit and the average SNG must be at least 65 in order to receive exemption.
  • Data Analytics Principles – ACST8095 Actuarial Data Analytics. Student has to achieve a SNG of at least 65 in order to receive exemption.

These units are available on a Non-award basis to students who have completed an actuarial degree covering the Foundation program of the professional exams or equivalent. ACST8031 (or an equivalent unit) must be studied before commencing ACST8032.

ACST8031, ACST8032 and ACST8095 are available in three delivery modes:

  1. Internal: North Ryde mode: Classes are held two days per week at Macquarie University's North Ryde campus.
  2. Internal: City mode: Classes are held one evening per week at Macquarie City Campus (Level 24, 123 Pitt Street, Sydney, NSW 2000) supplemented by internet delivery of course material.
  3. External Mode: There are no face-to-face classes. Students will utilize the online lecture recordings and materials.

ACST8031, in conjunction with ACST8032, develops and applies the actuarial principles and practices underlying the design, assessment, management and control of financial systems in the areas of life insurance, general insurance, banking and superannuation as well as other less traditional areas of actuarial practice. The two units together consider the process of actuarial and financial management, including product design, pricing, marketing, monitoring of experience, reserve setting, financing, solvency, and determination and distribution of surplus. The overall control process is studied within the constraints imposed by the commercial environment and the actuarial professional code of conduct and standards and includes a discussion of business ethics and issues of professionalism in actuarial practice.

ACST8095 covers advanced tools and techniques in data analytics. Students will be taught how to apply and develop these skills in a range of business environments and will be able to contribute to all stages of developing solutions to analytical problems across multiple industries or domains. This unit has a focus on practical application using a variety of real-life case studies.

Classes

The units ACST8031, ACST8032 and ACST8095 have classes at Macquarie University North Ryde campus on two separate days (Internal: North Ryde). Alternatively, students can choose to enrol into the city offering and attend classes in the Sydney CBD on one evening (Internal: City). For students who have enrolled externally, you are not required to attend face to face classes (External).

Please advise the Non-award team about your choice of which mode of delivery you will like to enrol into.

Website access (after enrolment)

To access the ACC1 website you will need your OneID (Macquarie Student Number) and password.

First time users will need to obtain your OneID password online and follow the prompts. Your 8-digit Macquarie student number (commences with a 3 or a 4) can be found on the top right-hand corner of your white Enrolment Registration Advice (ERA) sent with your initial welcome package.

Once you have obtained your OneID and password, please access the ACC1 websites in iLearn.

Students commencing in ACC1 in session 1 are expected to familiarise themselves with the ACC1 website before the start of the session, especially those students who have not previously used the iLearn system at Macquarie. In particular, please read the ACST8031 Unit Guide carefully prior to the start of session: the unit guide is available under the Unit Information section of the website. You will be expected to be familiarize with the website and with all of the unit requirements at the start of the session, and your first assessable task will be due only one week later (for which you will need the course’s prescribed textbook—details below).

For more information about the Actuarial Control Cycle and Actuarial Data Analytics, please contact Mr Hong Xie at hong.xie@mq.edu.au or visit the Department of Actuarial Studies and Business Analytics Website.

Back to the top of this page