With the widest choice of actuarial subjects on offer, the University of Melbourne is your best choice for actuarial studies in Victoria.
Actuaries assess, evaluate and manage the financial risks faced by individuals, organisations and governments for future planning. Risks include illness, disability and death, the effects of natural disasters such as cyclones and earthquakes, and major economic or social change.
If you choose to major in actuarial studies you will have a firm grounding in the traditional actuarial skill set of mathematics, statistics, demography, finance and economics. This background, coupled with strong analytical skills, sees actuaries serving as financial advisers to a range of organisations including life, general and health insurance companies; banks and other financial institutions; superannuation funds; and governments. Actuaries tackle many types of problems, most of which involve uncertainty about the future.
Our Centre of Actuarial Studies is one of only six institutions with full accreditation from the Actuaries Institute, the professional actuarial body in Australia.
Graduates of the Actuarial Studies major are well prepared for careers in the following areas:
- Banking and finance
- Capital and risk management
- Financial planning
- Financial reporting and performance management
- General insurance
- Health insurance
- Investments and asset management
- Life insurance: product pricing, design and distribution
- Valuation of insurance liabilities and financial instruments.
Entry requirements for the Bachelor of Commerce
The Clearly-in Rank is the lowest score at which students were granted entry in 2017. i
The Clearly-in Rank should be used as a guide for entry. It is not set in advance and may vary from year to year. The Clearly-in Rank is determined by the number of places available, the number of applicants listing the course as a preference and the academic achievement of those applicants.
Access Melbourne allows you to be considered below the Clearly-in Rank. Guaranteed entry is available to eligible students from a rural area or disadvantaged financial background. i
Access Melbourne can help you gain a place in a course, even if your ATAR is below the Clearly-in Rank. Eligible students must apply through Access Melbourne and meet prerequisites.
You must achieve the minimum ATAR (if indicated) to be considered for entry to this degree. The Clearly-in Rank may be above the Minimum ATAR, depending on the demand for the course and the number of places available.
Units 3 & 4: A study score of at least 25 in English/English Language/Literature or at least 30 in EAL, and at least 25 in Mathematical Methods (CAS) or Specialist Mathematics.
Applicants intending to major in Actuarial Studies or undertake a breadth sequence in Engineering Systems are strongly encouraged to complete VCE Specialist Mathematics or equivalent. Applicants intending to undertake an Engineering sequence in Electrical or Mechanical Systems are encouraged to undertake VCE Physics or equivalent If this has not been completed, applicants may be required to undertake additional physics subjects.