Introduction

Welcome! You have now begun your journey toward becoming an Actuary. We welcome you with open arms and we at MASS are together with you on your journey. The journey that we are all on, is one filled with challenges and obstacles however a dream does not become reality through magic, it takes sweat, determination and hard work.

Perhaps you were someone who was always fantastic at maths, someone who loves a challenge or someone who loves advanced statistical analysis, whatever the reason, becoming an actuary can definitely be a challenge. We have all heard that common phrase “Wow Actuary, you must be super smart”, however, we understand the hard work and perseverance it takes to become an actuary. At MASS, we aim to help build each other up as a cohort and eventually watch each other succeed. We hope that the advice given by your peers will provide a helping hand on your journey toward becoming an actuary and allow for a greater understanding of the course content.

The Monash Actuarial Student Society consist of reviews, given by your fellow peers, on the different units acquired for exemption as part of the actuarial degree. This year we have also updated the unit guide with SETU Evaluations so students can grasp a better understanding of the by the whole cohort. The current unit guide covers 19 units of the actuarial exemptions for undergraduate students as well as 3 units for postgraduate students. Since we have now integrated the Unit Guide into our website we are looking to continually expand upon the reviews and if anyone has completed a unit in 2025, we would love for you to reach out if you would like to add your comments to the reviews.

Over time course content changes and we would ask you to keep this in mind as unit reviews may not wholly reflect your experience. To counter this the Society will be continually reviewing units and superseding reviews where the updated curriculum demands it. Further, we also ask that while reading through this document you consider that each review reflects an individual’s expression of opinion and may differ between students.

If you would like to contribute to the unit guide, please contact monashactuary.education@gmail.com.

Acknowledgement

The Monash Actuarial Students Society would like to express our appreciation to the following members who contributed their time and insight to the 2025 editions of the MASS Unit Guide:

Education Director 2025: Felicity Nangammbi

Education Officer 2025: Harani Dissanayake

Unit Review Editors: Tommy The & Tanay Kulkarni

Disclaimer

All opinions are those of the individual contributors and may not reflect those of the Monash Actuarial Students Society or Monash University. These reviews are expressions of opinions and experiences which may not be the same for everyone. The Monash Actuarial Students Society makes every effort to ensure the validity and reliability of information however the Society does not guarantee the accuracy or completeness of the information provided. Note that these experiences are based on 2018~2025 content thus changes to the unit may be made. The Monash Actuarial Students Society and Monash University do not assume any legal responsibility for decisions made or actions taken as a result of information available in this guide.

Foundation Commerce Knowledge (First Year)

Specialist Discipline Knowledge (Second Year)

Actuarial Studies Specialisation (Major)

Actuarial Analytics Specialisation (Major)

Previous Units

Post-Graduate Equivalents

DISCLAIMER: The Post-Graduate units listed below are the equivalent units to the Undergraduate ones. The reviews are conducted by students who completed the Undergraduate units. While the content structure will be the same, the Assessments / Assessment Criteria may vary for individuals enrolled in the Post-Graduate Equivalents.

Actuary Program Units