The Institute's Part II syllabus changed from 1 January 2011. The previous Part II syllabus will continue to be known as Part II - The Actuarial Control Cycle.
Part II now consists of:
- Part IIA - The Actuarial Control Cycle; and
- Part IIB - Investment and Asset Modelling
We do not teach or examine Part II, but students may gain exemption by studying at one of seven accredited universities.
Seven Australian universities currently offer accredited education programs that cover the Institute's Part II syllabus. Students may be granted exemption from Part II based on university grades that are consistent with Institute standards.
Students are not required to wait until they have completed their degree to apply for any Part II exemptions. Upon authorisation, the student's university advises the Institute of the student's eligibility for Part II exemption. The Institute then advises the student of their exemption eligibility.
The Institute considers Part II to be one subject in its education program with one exemption. Students who did not complete Part II - The Actuarial Control Cycle to the required exemption standard by the end of 2010 are required to complete Part II (i.e. Part IIA - The Actuarial Control Cycle and Part IIB - Investment and Asset Modelling).