Graduate Certificate in Actuarial Applications

Course details

The Graduate Certificate in Actuarial Applications (GCAA) covers the practical application of actuarial concepts, including the syllabi of the Core Application subjects of the Institute of Actuaries. There is also additional coverage of actuarial practice within Ireland, and the banking industry.

It is primarily aimed at individuals who are in full-time employment in actuarial practice or related disciplines. It is run on a part-time basis with two evening lectures per week. Individuals not in full time employment may also apply but will have to face additional entry requirements.

Aims and Objectives:

• To provide the opportunity for students to get exemptions from the Actuarial Risk Management (CA1) and the Communications (CA3) exams of the Institute of Actuaries.
• To cover the syllabus and the objectives of subject CA2 of the Institute of Actuaries, which covers the material from the Actuarial Risk Management (I & II) and Communications modules.
• To provide additional lectures by practising actuaries in Ireland to cover the application of actuarial theory in practice.

Programme Structure:

This one year, part-time programme runs for two semesters, each of 12 weeks in length. It consists of two three-hour lectures held on two evenings. There are four modules:

• Actuarial Risk Management I
• Actuarial Risk Management II
• Communications
• Professional Work Practices

The material is constantly updated in line with changes to the relevant syllabi and Core Reading of the Actuarial Profession.

Students will be recommended for exemptions from subjects CA1 and CA3 based on their grades in Actuarial Risk Management (I & II) and Communications. An Exemption Recognition Agreement is in place with the Institute of Actuaries. The course is the first in Ireland to offer students the opportunity to be granted exemptions from subjects beyond the Core Technical exams of the Actuarial Profession.

Why DCU:

• The course is the first in Ireland to offer students the opportunity to be granted exemptions from subjects beyond the Core Technical exams of the Actuarial Profession.
• The university setting for this course provides actuarial trainees with an alternative route to pass subjects CA1 and CA3 of the Institute of Actuaries - compared with the traditional ActEd distance learning courses.
• The course gives additional tuition for subject CA2 of the Institute of Actuaries.
• Exams are held at different times of the year than those of the Institute of Actuaries, allowing actuarial employers to better spread study leave given to Actuarial Students.
• There is a significant emphasis on exam technique. Poor exam technique is frequently mentioned as a primary reason why students fail Institute of Actuaries' examinations.
• Students get more interaction with other Actuarial students, compared to using the ActEd correspondence courses. This enables networking and greater interaction with their peers.

International Applicants

International candidates are expected to have educational qualifications of a standard equivalent to those outlined above. In addition, where such candidates are non-native speakers of the English language they must satisfy the university of their competency in the English language. For further information on international applications please see the following website: www.dcu.ie/international/index.shtml

Career Prospects:

As well as covering the course material for subjects CA1 and CA3 of the Institute of Actuaries, this programme also covers actuarial practice in Ireland, the banking industry and current developments within the main actuarial fields. This is likely to give graduates an edge over other actuarial trainees that take the traditional distance learning courses from Act Ed.

Entry Requirements:

The minimum requirements for students to be admitted to the Graduate Certificate in Actuarial Applications are as follows:

• passes in (or exemptions from) all of the CT subjects of the Institute & Faculty of Actuaries

• a minimum of 3 months work experience as at 15th August prior to the beginning of the course plus being in full time actuarial employment (or a minimum of one years work experience if not in full time actuarial employment).

• a commitment to provide written approval from the student's employer before sitting the GCAA Communications exam.

Individuals who do not satisfy all of these requirements may apply but will face additional entry requirements.