The University of Melbourne
Bachelor of Commerce (Actuarial Studies)
Nationally Recognised Higher EducationActuaries assess, evaluate and manage the financial risks faced by individuals, organisations and governments to plan effectively for the future. The risks assessed by actuaries can include illness, disability and death, the effects of natural disasters, and major economic or social change.
A major in Actuarial Studies in the Bachelor of Commerce will give you a firm grounding in the traditional actuarial skillset of mathematics, statistics, demography, economics, and finance.
This background, coupled with strong analytical skills, sees actuaries serving as financial advisers to a range of organisations including 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.
Delivery mode
The University of Melbourne offers this course through the following delivery modes:
On campus
Work with instructors and classmates in a supportive and collaborative environment.
Locations
- Grattan Street, Parkville
Entry requirements
Domestic Students
- There are no mandated entry requirements.
Prerequisites
These are the subjects (with minimum scores) you must have completed to be eligible for entry to this course.
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 or Specialist Mathematics.
English language proficiency
- TOEFL Internet-based test: total score of at least 79 and scores of 21 for writing, 18 for speaking, 13 for reading and 13 for listening. To submit your scores when you apply, use our TOEFL Institution Code: 0974.
- IELTS: total score of at least 6.5 in the Academic International English Language Testing System (IELTS), with no bands less than 6.0. To submit your scores when you apply, please inform your testing centre that you want your results to be released to the University of Melbourne. This can be done on the day of your test.
- Pearson Test of English Academic : overall score of at least 58 and no PTE communicative skills score below 50. To submit your scores when you apply, please inform Pearson that you want your results shared with the University of Melbourne.
- Cambridge English, Advanced/Certificate in Advanced English (CAE): Cambridge English Score of at least 176 with no skill below 169.
- C2 Proficiency (previously called Cambridge English: Proficiency (CPE) examination): Cambridge English Score of at least 180 with no skill below 180.
Completed secondary education recently (within the past two years)
Applicants are selected according to academic merit, in the form of the ATAR or notional ATAR calculated by the relevant Tertiary Admissions Centre. Courses which select primarily on ATAR will have minimum ATARs set in advance, and you can only be selected below this point if you have additional criteria to be considered. The standard required to receive an offer may be above the minimum ATAR. It is determined by the number of applications and the number of places available.
Completed some or all of a higher education qualification
If your last study was more than seven years ago, see the information about the non-school leaver entry pathway in the section for applicants with work and life experience below. Applicants are selected according to academic merit, usually in the form of the weighted average mark.
Completed some or all of a VET qualification
If your last study was more than seven years ago, see the information about the non-school leaver entry pathway in the section for applicants with work and life experience below.
To be considered for entry, your study must be at Diploma or Advanced Diploma level and in a discipline relevant to the course you are applying for. If this is not the case, assessment will be based on other study completed (typically secondary results).
Applicants with work and/or life experience
Applicants in this category typically fall into one of the following categories:
- Applicants with non-recent secondary education (older than the last two years). If you have secondary study from the last seven years, see the section for applicants with recent secondary education.
- If your last study was more than seven years ago, see the information about the non-school leaver entry pathway.
- Applicants with an overseas secondary qualification
- Applicants who are eligible for the non-school leaver entry pathway
- Indigenous applicants who don’t fit into one of the categories described above but are assessed as likely to succeed in the proposed course
Prerequisites
These are the subjects (with minimum scores) you must have completed to be eligible for entry to this course.
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 or Specialist Mathematics.
English language proficiency
- TOEFL Internet-based test: total score of at least 79 and scores of 21 for writing, 18 for speaking, 13 for reading and 13 for listening. To submit your scores when you apply, use our TOEFL Institution Code: 0974.
- IELTS: total score of at least 6.5 in the Academic International English Language Testing System (IELTS), with no bands less than 6.0. To submit your scores when you apply, please inform your testing centre that you want your results to be released to the University of Melbourne. This can be done on the day of your test.
- Pearson Test of English Academic : overall score of at least 58 and no PTE communicative skills score below 50. To submit your scores when you apply, please inform Pearson that you want your results shared with the University of Melbourne.
- Cambridge English, Advanced/Certificate in Advanced English (CAE): Cambridge English Score of at least 176 with no skill below 169.
- C2 Proficiency (previously called Cambridge English: Proficiency (CPE) examination): Cambridge English Score of at least 180 with no skill below 180.
Completed secondary education recently (within the past two years)
Applicants are selected according to academic merit, in the form of the ATAR or notional ATAR calculated by the relevant Tertiary Admissions Centre. Courses which select primarily on ATAR will have minimum ATARs set in advance, and you can only be selected below this point if you have additional criteria to be considered. The standard required to receive an offer may be above the minimum ATAR. It is determined by the number of applications and the number of places available.
Completed some or all of a higher education qualification
If your last study was more than seven years ago, see the information about the non-school leaver entry pathway in the section for applicants with work and life experience below. Applicants are selected according to academic merit, usually in the form of the weighted average mark.
Completed some or all of a VET qualification
If your last study was more than seven years ago, see the information about the non-school leaver entry pathway in the section for applicants with work and life experience below.
To be considered for entry, your study must be at Diploma or Advanced Diploma level and in a discipline relevant to the course you are applying for. If this is not the case, assessment will be based on other study completed (typically secondary results).
Applicants with work and/or life experience
Applicants in this category typically fall into one of the following categories:
- Applicants with non-recent secondary education (older than the last two years). If you have secondary study from the last seven years, see the section for applicants with recent secondary education.
- If your last study was more than seven years ago, see the information about the non-school leaver entry pathway.
- Applicants with an overseas secondary qualification
- Applicants who are eligible for the non-school leaver entry pathway
- Indigenous applicants who don’t fit into one of the categories described above but are assessed as likely to succeed in the proposed course
Course fees
$160,896
Career opportunities
The Bachelor of Commerce (Actuarial Studies) will prepare you for the following roles.
Actuarial Consultant
An Actuarial Consultant provides expert advice on financial risk and uncertainty. You might work for insurance companies, consultancy firms, or gov...
Portfolio Analyst
A Portfolio Analyst evaluates and monitors investment portfolios for individuals or organisations. You might work in a financial institution, inves...
Actuarial Analyst
An Actuarial Analyst assesses financial risks using mathematics, statistics, and financial theory. You might work in an insurance company, consulta...
Risk Analyst
A Risk Analyst analyses information and data to assess risk. You might work in banking, insurance or a range of other industries. Risk Analysts mak...
Investment Analyst
An Investment Analyst evaluates financial data and trends to provide investment recommendations. You might work in financial institutions, investme...
Actuary
An Actuary interprets information and data to assist with financial decision making. You might analyse data from a range of sources and assess the ...
About The University of Melbourne
Welcome to the University of Melbourne. We are Australia’s leading research university, with a 165-year-long tradition of higher education in the arts, sciences and numerous professional disciplines.
At Melbourne, we take delight through our on-campus teaching and graduate online programs in helping undergraduate and postgraduate students from Australia and many other countries to achieve globally recognised qualifications. The educational experience here prepares well-rounded graduates who are academically outstanding and practically grounded.
We also support and encourage internationally-connected research collaborations around basic and applied problems, in the hope of changing the world for the better.
