Part III consists of four modules. Students must successfully complete one course from each Module:
There are eight options available for Module 1:
- Course 7A - Enterprise Risk Management;
- any Part A (Module 2) or Part B (Module 3) course;
- a PhD in a relevant area;
- accountancy qualifications recognised by CPA Australia or the Institute of Chartered Accounts (or overseas equivalents);
- Certified Financial Analyst (CFA) Charter Holder qualifications;
- the Institute and Faculty of Actuaries’ ST1 Health and Care Examination and the Actuaries Institute's online Private Health Insurance course;
- the Actuarial Society of South Africa's F101 Health Fellowship Principles Examination and the Actuaries Institute's online Private Health Insurance course; or
- Course 1 Investments.
In Module 2 and Module 3, students choose to complete their study in one specialist area of practice:
- life insurance;
- general insurance;
- global retirement income systems; or
- investment management and finance.
In Module 4, Course 10 - Commercial Actuarial Practice is compulsory and comprises a four-day residential course and an eight-hour computer-based assessment.