This unit was a great introduction to actuarial studies and

provided a good foundation for future studies using knowledge

from previous units. It covers the basics for actuarial science and

is very important for progressing further in actuarial science.

There are lots of new and important concepts introduced, such as

actuarial notations and life tables. It is mandatory to practice and

fully understand these concepts.

The unit is taught by two lecturers, Brett focusing on Finance and

Maziar on life tables. The lecturers for this unit were fantastic.

They provided entertaining and informative lectures, and was

always willing to provide further clear explanations where

required. The lectures are structured well with examples to follow.

Some of the theory was unable to be clearly explained as they are

very theoretical or conceptual and therefore you should review

the lecture notes after lectures.

The tutorials were necessary to attend as they explained the

theory and working out behind the week’s homework questions.

It is important to attend as the lecture does not cover example

questions in depth. Preparation is recommended and bring

questions to tutors during tutorials.

The assignment was based around mortgage repayments and

covered most aspects of the course. Quite easy as long as you are

comfortable with Excel. Ask tutors for help if needed. Good

practice for excel.

The mid-semester test and final exam were of a similar difficulty

level. The exam was moderately difficult but fair. Questions are

mostly fundamental and calculation based. Past exams are given.

You must practice the actuarial concepts and financial calculation

quite a bit to get the hang of it. For life tables, it is important to

understand fully the concepts as the exam will have extended

questions on it and it is fundamental to later units. Review it with

your tutors or with the Actuarial Institute exam materials if you

have that.