Determination and Dedication: Semester 2 Results

Our tutorials, assignments, and real-life examples enrich the learning experience, fostering practical understanding and skill development.

This semester, we’ve continued to identify opportunities to embed AI skills and techniques in our teaching and assessments, as well as refreshing subject materials and resources. It is great to see students connect with the materials and identify the practical relevance of what they are studying with tasks in the workplace.

Academic integrity has been a concern for the Institute over the past few years, especially with the rapid changes in AI and media attention regarding cheating in the higher education sector.

The Institute has expanded its use of plagiarism tools, continues to educate students on expectations, and proactively reviews assessments to ensure fairness and equity for all students.

With over 750 students enrolled this semester, we are delighted to report there were only nine instances requiring investigation. Three were given a warning, and six were penalised for not utilising proctoring correctly during their mid-semester assessment.

With the small number of instances of misconduct and those investigated being minor or unintentional, we are confident our students are completing their studies in a fair and equitable way and upholding the values and integrity of our profession.

More than 200 education volunteers oversaw governance, quality control, curriculum changes and delivery excellence this semester. Students benefited from over 20 guest speakers who shared their stories and experiences in our online tutorials. Fairness in assessment design and grading was supported by 40 scrutineers and 110 assessment markers.

The Institute would like to congratulate all our students who passed their Semester 2 subjects. Pass rates and the number of students who sat in each subject for the last three semesters are shown below. Most students performed well across all subjects, and 94 students became eligible for Fellowship. 

Members eligible for Fellowship – Semester 2, 2024.

Semester 2, 2024 pass rates

Pass Lists for Institute Actuary Program subjects – Semester 2, 2024

Pass Lists for Fellowship Program subjects – Semester 2, 2024

Semester 2, 2024 prize winners

Congratulations to our Semester 2 prize winners who have demonstrated academic excellence, sound critical thinking and communication skills. 

Asset Liability Management (ALM)

Whilst the majority of students performed well enough to pass, the pass rate was significantly lower than expected. This caused the Institute to delve very deeply into potential reasons.

The ALM subject is an introduction to the types of questions used in the Fellowship subjects. Students are expected to show familiarity across the learning objectives as questions are designed to cut across the education material. The subject is presented as a sequence of material that gets progressively more difficult.

Additional expertise was sought to review the education material, exam questions, marking guide and how students wrote solutions. The overall conclusion was that the process and questions were a fair test but having more examples of different liability structures in the educational material would help solidify the core concepts.   

The chief examiner observed that many students were not consistently spending time on their studies each week, and many were not actively studying for the first few weeks of semester. Approximately half the students did not attend or view the tutorials or tutorial slides which contained assessable material.

Our concern is students didn’t give themselves enough time to complete their studies and digest the later chapters in preparation for the exam. It is important students do not become complacent, and a commitment to study every week of the semester is required to succeed.

Tutorials – supporting your active learning

Our educators are continually working to improve our subjects by incorporating practical industry examples, providing opportunities to learn from industry experts and finding ways to make our subjects more interactive. Tutorials are integral to your learning, providing the opportunity to:

• reinforce topics covered in your subject materials,
• connect with the educator and industry experts through the guest speakers;
• clarify concepts you may not have understood; and
• develop your skills through practical application of the theory in the tutorial exercises.

Tutorial observations

While the surveyed students indicated they valued the tutorials, whether live or recorded, very few students participated in the live tutorial sessions in 2024 and, in at least one subject (ALM), around half the students did not attend or watch the recorded tutorials. Tutorial content is examinable, so students are encouraged to attend or watch all tutorials before the exam.

Education updates

Subject refresh

This semester, seven subjects (ALM, ERM, GIA, GIHV, LIA, LIRV and SRA) syllabi have been updated and approved for 2025.

These changes are the result of reviews by industry experts in the Education Faculties, ensuring that our members are receiving the most up-to-date training to prepare for success in the workplace.

Educators have also been integrating AI into our teaching and assessment practices across our subjects.

Improvements to Canvas

For those continuing studies in 2025, you will notice a new Canvas interface which will deliver an improved student experience with better navigation.

These improvements are in response to student feedback and our desire to improve support for active learning. One new addition is a learning journal – a private space for you to write your own notes and reflections. You can use the journal to practice writing clear, concise and complete summaries of the key topics.

New support resources for students

From Semester 1, we will be adding additional resources to help you succeed in your studies in the Student Hub. First up will be resources to help you improve your writing skills.

New proctoring system

We are implementing a new exam invigilation system, ProctorU, for Semester 1 2025.

This new system will see a range of student experience and exam integrity improvements. Examples include:

• greater customisation to ensure students adhere to exam rules, such as blocking external websites;
• improved identification of the use of AI during the assessment;
• reconnection to the exam proctoring session in the case of a disruption (note – let us know if you are experiencing difficulties straight away so we can help!); and
• the same access to proctoring for all students, no matter where you are in the world.

New Chief Examiner for Communication, Modelling and Professionalism (CMP)

We are thrilled to welcome Jenifer Walton as our new Chief Examiner for CMP.

Jenifer is an Australian actuary with two decades of commercial actuarial experience working in the UK and Australia. She has worked in both actuarial and business management roles.

Jenifer has worked as a “big four” consultant, with significant experience in both superannuation and investments as well as working with clients in life and general insurance projects.

Throughout her corporate career, she’s been passionate about actuarial education, designing and delivering learning programs specifically tailored to assist with developing the careers of actuaries.

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