In order to pass this unit, you must pass the final exam.

A Standardised Numerical Grade (SNG) gives you an indication of how you have performed within the band for your description grade. The SNG is not a mark and you may not be able to work it out from your raw examination mark and other assessment marks. Nor are you able to determine that you are "one mark away" from a different grade. 

The Macquarie University units Actuarial Control Cycle 1, Actuarial Control Cycle 2, and Investment Management are accredited by the Actuaries Institute. You will be recommended for exemption from Part 2 of the professional qualifications if:

* you attain grades of Credit or better in all three units, or

* you attain an average SNG of 65 or better across all three units, with an SNG of at least 60 in each unit,

The Actuaries Institute sends external examiners to review the performance of borderline students and to verify that appropriate exemption standards have been maintained. 

Extension and Penalties

No extensions will be granted. Late assignments will be accepted up to 72 hours after the submission deadline. A penalty of 20% of the awarded marks will apply for each complete 24 hour period after the due date/time. This penalty does not apply when the student has made an application for special consideration and special consideration has been granted.

It is the responsibility of the student to apply to Macquarie University to recommend them to the Actuaries Institute for professional exemptions. For information about this process please refer to Http://www.businessandeconomics.mq.edu.au/current_students/undergraduate/how_do_i/exemptions_for_professional_examinations

Classes

The Actuarial Control Cycle 2 is a co-taught unit, available to both ACST403 and ACST832 students. Lectures are offered in three modes – campus classes (North Ryde), city classes (Sydney CBD) and distance education (students can be located anywhere).

Learning guides and Powerpoints slides will be posted on iLearn each week, along with some audio visual recordings. Lectures are recorded and will be posted on iLearn after the Wednesday lecture each week.

The learning guides include some discussion questions for each topic.  We encourage distance students to try to answer these questions. Post your answers on the discussion board and read answers posted by other students. The lecturers will moderate the discussion boards.

Required and Recommended Texts and/or Materials

Required texts : Bellis, C, Lyon, R, Klugman, S & Shepherd, J (2010) Understanding Actuarial Management: the actuarial control cycle, 2nd edition, Institute of Actuaries of Australia.

Copies of the textbook are available in the Special Reserve section of the library.

There is a Learning Guide for each section of work. You should read the Learning Guide before the lectures, and bring a copy with you to classes.

Additional readings will be posted on iLearn.

Technology Used and Required

In this unit, you will need to have access to and to be able to use software to produce overhead slides, software to produce pdf documents, and word-processing software to produce reports.

Downloadable lecture recordings

The University audio-visual team makes recordings of on-campus lectures. These will be available via iLearn (use the Echo360 tab on the right hand side of the home page). 

Some additional recordings will be posted on iLearn in MP4 format.

Unit web page

The web page for this unit can be accessed via the “login” button on http://ilearn.mq.edu.au

You should check the website regularly (at least twice a week) to read announcements posted by University staff. Announcements are also posted to your University email account, and you should check your email regularly. This is your responsibility and we cannot make allowances for students who miss important information.

Teaching and Learning Strategy

We assume that you have acquired the knowledge and skills included in the syllabi for the Part I (Core technology) subjects and Actuarial Control Cycle I.  

You should prepare for each lecture by reading the relevant chapter of the textbook, the Learning Guide, and any other readings posted on iLearn. We encourage all students to actively participate in class discussions and group work.

RESEARCH

This units uses research in several ways:

* The unit uses research by Macquarie University researchers (e.g. current and former Macquarie staff members are editors and authors of the textbbok and other readings);

* This unit uses research from external sources (references will be provided);

* This unit gives you practice in applying research findings in your assignments.