Subjects and Syllabus

The Fellowship Program comprises three subjects— two principles subjects and one applications subject. Each subject runs during a 15-week semester including the exam period.

It is important you check the subject descriptions (see syllabus links below) and ensure your principles subject choices meet the prerequisites for your intended applications subject.

Subjects

Principles subjects

You choose two of the following subjects:

LIRV

Life Insurance and Retirement Valuation

AVAILABLE IN SEMESTER 1

LIRPD

Life Insurance and Retirement Product Development

AVAILABLE IN SEMESTER 2

GIHV

General Insurance and Health Valuation

AVAILABLE IN SEMESTER 1

GIHPPA

General Insurance and Health Pricing and Portfolio Analytics

AVAILABLE IN SEMESTER 2

ERM

Enterprise Risk Management

AVAILABLE IN SEMESTER 1

INV

Investment

AVAILABLE IN SEMESTER 2

BANK

Banking

AVAILABLE IN SEMESTER 1

Applications subjects

You choose one of the following subjects after you have attempted two principles subjects:

DSA

Data Science Applications*

AVAILABLE IN SEMESTERS 1 & 2

GIA

General Insurance Applications

AVAILABLE IN SEMESTERS 1 & 2

LIA

Life Insurance Applications

AVAILABLE IN SEMESTERS 1 & 2

SRA

Superannuation and Retirement Applications

AVAILABLE IN SEMESTER 1

Planning your study

For each subject there is an expectation that you have a certain level of actuarial knowledge. All Fellowship subjects expect you to have attempted (but not necessarily passed) all Foundation and Actuary Program subjects. Additionally, all Fellowship subjects assume a working knowledge of Excel and basic knowledge of R.

* Google Colab is a requirement for Data Science Applications. If you are unable to access Colab you may utilise an equivalent solution, with prior approval from the Institute. For example, there may be difficulties in China due to firewall restrictions.

To apply for use of an alternative software, please complete and submit our Application for Alternative Software Use - DSA.

RECOMMENDATIONS

  • General Insurance and Health Principles subjects: It is recommended that students have attempted (but not necessarily passed) General Insurance and Health Valuation (GIHV), prior to attempting General Insurance and Health Pricing and Portfolio Analytics (GIHPPA). For students who have not attempted GIHV, it is recommended they familiarise themselves with its contents, specifically the different patterns of claims development that can arise from various general insurance products as represented by the construct of claims triangles.

Prerequisites

To enrol in a Fellowship Program applications subject you must have attempted (but not necessarily passed) two principles subjects and meet the prerequisites:

  • Data Science Applications: knowledge of the Data Science Principles subject syllabus and a basic understanding of Python— see here for more information;     
  • General Insurance Applications: attempted General Insurance and Health Valuation, and General Insurance and Health Pricing and Portfolio Analytics;
  • Life Insurance Applications: attempted Life Insurance and Retirement Valuation, and Life Insurance and Retirement Product Development; and
  • Superannuation and Retirement Applications: attempted Life Insurance and Retirement Product Development.