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tutorials -
making actuarial stuDies come alive
Ash Evans
Tutor in Actuarial
Studies
Current PhD student
Tutorials provide
participants with an
opportunity to confront
ideas and issues
presented at lectures
in a less formal atmosphere. This dynamic allows
students to become comfortable with material
through cooperation and participation. The tutorial
setting offers students time to reflect on the
course before gathering to discuss topics, reinforce
knowledge and address any problems. This is an
ideal follow up to the formal lecture.
It is my role to ensure that students in the class
are confident in their ability to apply the theory
from the course. Having completed the degree
fairly recently, I am able to offer a perspective
on the material that is not too far removed from
how it is usually best understood by the students.
Participants find this very useful, since actuarial
studies in particular benefits from a personal and
intuitive demonstration of the coursework.
In my experience, students gain enormously from
tutorials when asked to solve a problem in a group
environment. Being able to actively participate in
the classroom exposes the participant to different
approaches and allows me as a tutor to recognize
where students have the greatest difficulty. The
format can be easily adjusted to focus on the
students’ needs. Group interaction also gives the
participant the chance to meet fellow actuarial
students and future colleagues. As a tutor, I make
myself approachable and readily available to cater
for the students’ needs. I have found that this
creates a comfortable setting where students are
eager to explore their ability with the knowledge
that additional help can be easily accessed. It is
amazing the difference that a little guidance, a
different point of view and some friendly interaction
can have on a student’s success in the actuarial
program at Melbourne.
Chris Beveridge
Tutor in Actuarial
Studies
Current PhD student
Tutorials are a very
important component
of the actuarial
learning experience
at the University of
Melbourne. First and
foremost, they provide students with an interactive
and friendly environment in which they can
discuss lecture material and the numerous practice
questions made available on a weekly basis. The
tutorials are designed to be highly flexible, so that
they can cater to the students’ needs on a weekto-week
basis. The students can highlight areas of
difficulty, and as a tutor I can focus on improving
their understanding in these areas. The chance to
gain different perspectives on material covered, as
well as being able to work through problems while
asking questions helps particularly in improving
understanding and building confidence. In addition,
by working through problems based on the theory
covered in lectures, students are able to see how
the material they study is used in a more practical
context.
Tutorials also provide a wonderful opportunity
for students to discuss all things actuarial with
someone who has recently been in their position.
Whether it be particular subjects, which subjects
to take in the future, applying for jobs, or the
numerous possibilities open to someone with an
undergraduate degree in actuarial studies, in my
experience students enjoy being able to discuss
these topics informally.
the honours Program in actuarial stuDies
Why do Honours
in Actuarial Studies?
An honours year provides an advanced knowledge
of actuarial studies and the opportunity to develop
your research and communication skills through
either a research essay or a set of research
projects.
The Honours year also fulfils all the requirements
for Associateship of the Institute of Actuaries of
Australia. In this fourth year of study you will take
advanced coursework in the areas of risk theory
and financial mathematics. Importantly you will also
develop your business and academic writing skills
and your communication skills by producing some
research into an area of actuarial science that has
not been widely considered previously. Employers
of actuarial graduates are becoming increasingly
interested in students who can demonstrate an
ability to learn, to adapt to changing situations and
to work well within a team. These skills are all
honed during the Honours year.
Career advancement is more rapid for honours
graduates. Initial salary rates for honours graduates
are higher than those for ordinary degree graduates
and job tasks tend to be more varied, interesting
and research orientated.
Possession of a quality Honours degree assists in
obtaining scholarships and other forms of financial
support to undertake higher degrees.
By studying for Honours, you have the opportunity
to obtain exemption from all subjects that comprise
Part I of the Institute of Actuaries of Australia’s
professional examinations. Additionally, Part II
of the qualification as a Fellow of the Institute of
Actuaries of Australia is covered in the honours
year. It can be advantageous to study these
subjects as a full time honours student, rather than
attempting them on a part time basis while you
are working.
What are the Criteria
for doing an Honours Year?
To be eligible for an honours year in Actuarial
Studies, you must have satisfied the requirements
for a Bachelor of Commerce degree, and have also
completed the following third-year subjects with
a grade of at least H2B (70%) in four of these
subjects.
Y Actuarial Modelling I
Y Actuarial Modelling II
Y Contingencies
Y Actuarial Statistics
Y Models for Insurance and Finance
Y Financial Mathematics III
Note that Contingencies counts as two subjects.
Thus, a mark of 74 in Contigencies would count
as two H2B grades.
You should also note that meeting these two
requirements does not guarantee a place in
honours. For example, a student who completed
eight third year actuarial subjects with four marks of
70 and four marks of 50 meets the requirements,
but would not be admitted. The Centre will only
admit students who it believes can successfully
complete the honours year.
Application Process
Applicants must apply on line at https://sis.unimelb.
edu.au/cgi-bin/course-application.pl
Selection takes place in December after third year
results become available. You will be informed in
early January to advise if your application has been
accepted or not. You can then enrol as part of the
normal enrolment process.
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