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Accreditation Part III

The remaining steps needed to be undertaken successfully to gain accreditation are conducted through the Institute of Actuaries of Australia (IAAust). For full details of requirements you are advised to visit the Actuarial Education Program section of the IAAust website. A brief overview of the pathway is provided below.

Part III

The Part III education program is offered through the Institute, and students are required to complete four half-year courses:

  • Module 1 Investments or both an Enterprise Risk Management Course and an Investment Bridging Course
  • Module 2 & 3 Specific Practice Area –
    • either Life Insurance (Part A) & Life Insurance (Part B)
      or
      General Insurance (Part A) & General Insurance (Part B)  or Global Retirement Income Systems (Part A) & Global Retirement Income Systemts (Part B)  or Investment Management & Finance (Part A) & Investment Management & Finance (Part B)
  • Module 4 Commercial Actuarial Practice (compulsory).

Institute Professionalism Course

The Professionalism Course delivers knowledge of the obligations, risks and the legal responsibilities of being a member of the actuarial profession. It focuses on the Institute Code of Conduct and its practical applications, the ethical requirements of being an actuary and the dilemmas likely to be faced in practice. Visit the IAAust website for full details.

Professional Qualifications

Fellow (FIAA)

From 1 January 2010, students become a Fellow (FIAA) on completion of

  • Part I
  • Part II
  • Part III
  • Professionalism Course
The Practical Experience Requirement that was required for Fellowship prior to 1 January 2010 no longer applies.

Associate (AIAA)

From 1 January 2010, students become an Associate (AIAA) on completion of

  • Part I
  • Part II
  • The Investment Bridging Course or Part III Course 1 Investments
  • Professionalism Course
  • A three year Practical Experience requirement
Actuary Designation

Prior to 2010, the designation "actuary" only applied to Fellows. From 1 January 2010 all members who meet the new Associate requirements will also meet the requirements of the designation "actuary".

Further Information

For details and transition arrangements see the Actuarial Education Program section of the IAAust website