ACTL20003 Stochastic Techniques in Insurance
University of Melbourne · Level 2 · 12.5 points · Runs in 2026: Semester 2.
- Final exam 70%: exam-heavy
- About 3 class hours a week
Is ACTL20003 hard?
ACTL20003: About average. Not counted by Bachelor of Science, so it isn't on its lists. Makes it harder: Final exam 70%, You must pass the exam on its own. No student reviews yet — based on the Handbook only.
What you learn
Probability tools used in insurance and finance, from key distributions to Brownian motion and stochastic calculus.
After it you can
- Use common insurance distributions and expectations
- Apply the law of large numbers and the CLT to risk
- Solve problems with recursions and differential equations
What you need first
ACTL20001 and MAST20004
What it leads to
- ACTL30001 Actuarial Modelling I
- ACTL30002 Actuarial Modelling II
- ACTL30006 Intermediate Financial Mathematics
- ACTL30007 Actuarial Modelling III
Careers
Helps toward: Actuary
How it’s assessed
Assignments 20%, Tests 10%, Final exam 70%
Student reviews and ratings
No student reviews yet — be the first to rate it.
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Quick answers
- When is ACTL20003 offered?
- Runs in 2026: Semester 2.
- What do I need before taking ACTL20003?
- Needs ACTL20001 and MAST20004.
- Does ACTL20003 have a final exam?
- Yes, the final exam is 70% of the mark. You must pass the exam on its own. Assessment: Assignments 20%, Tests 10%, Final exam 70%.
- How many class hours a week does ACTL20003 have?
- 3 h a week in class
- Can I take ACTL20003 as breadth?
- No, it isn’t listed as breadth for any course.
- What can I take after ACTL20003?
- 4 subjects need it first, for example ACTL30001, ACTL30002, ACTL30006, ACTL30007.
- Can I rate ACTL20003?
- Yes. If you've taken it, rate it anonymously on this page (difficulty, workload, marking, would you recommend it) and leave a tip for next year's students. Averages show once 3 students have rated it; tips are checked before they appear.
Source: University of Melbourne Handbook 2026
Always confirm in the official Handbook.
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