Actuality 2019

Actuality 2019 Edition

What is ASSOC? Meet the Cabinet Interview w/ Finity Guides & Events

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Contents 4

President’s Farewell

5

9

Meet the Cabinet

12

What is ASSOC?

Interview with Finity Grad

6

13

What is Actuality? Upcoming events

7

ACST Starter Pack

8

Treasurer’s Report

16

Australian Open 2019: Round-up

18

First Year Unit Guide

Editor’s Letter

Putting this magazine together was perhaps one of the most demanding tasks I ever had to do.

How should I design this page?

Is the magazine free of typos?

Are the elements of the page arranged in a way that creates good feng shui? It even makes actuarial tutorial questions pale in comparison to this (okay, maybe except for ACST212 Combinatorial Probability). But it’s finally done. Me and the rest of the 2019 Cabinet of ASSOC are proud to present to you the reader - the 2019 Edition of Actuality. We hope that you have a whale of a time reading this and all the best for the year to come!

Joshua Irawan Media & Marketing Director 2019

Credits

Editor-in-Chief & Designer: Joshua Irawan Editors: Aman Pamnani, Darren Ignatius, Debbie Ngo Writers: Aman Pamnani, Debbie Ngo, Isabel Li, Aakash Malhotra, Benjamin Pham, Harvinder Gill, Kevin Cheung, Nripesh Ahuja, Wendy Nguyen, Lewis Yeung Special Thanks: Clark Chen

President’s Farewell “... the friend you met that day you joined ASSOC might be the one who you work with in the future.”

P

eople often ask me how I would describe my experience in ASSOC... but I simply can’t express it properly.

people more than once so who knows, the friend you met that day you joined ASSOC might be the one who you work with in the future.

Not because there’s nothing to describe, but because there’s To my Cabinet Team of 2018, too much to describe. you are nothing less of amazing and I am extremely lucky to have To all new actuarial students, I all of you on board during my highly recommend you to join President term. Your dedication, ASSOC; not because it’s the passion and willingness to society for your degree, but improve ASSOC is reflected because of what you will get in the positive feedback from out of it. Actuarial Studies is countless students, sponsors more than just mathematics and statistics; it encompasses many key soft skills such as communication, management and teamwork. While your 3-4 years of university subjects will not teach you these, the 20+ events per year provided by ASSOC will. Use this opportunity to get to know more people in your own grade, those older than you, and even those who have already started working.

Actuarial is such a niche subject; you are bound to see the same

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and university associates. It’s been my pleasure to work with you, and I hope we will have more chances in the future.

To the Cabinet and Committee of 2019, I wish you all the best in this year’s ASSOC endeavours, and I’m sure you will all succeed astoundingly in your roles. I’m looking forward to what you have to deliver for the lucky cohort of 2019.

- Clark Chen President 2018

What is ASSOC? S

tarting university is just like starting high school all over again. You are excited to start a new chapter in your lives, but at the same time are anxious as many thoughts float around in your head. Will you fit in? Will you easily be able to make friends? Are you already lost on your way to your first class? The main difference from high school is that you are now a young adult, about to get your first real taste of what the world is like.

While it can be a daunting period of time, the Actuarial Students’ Society of Macquarie University (ASSOC) helps make this transition a lot easier. I remember all the doubts and anxieties disappeared when I attended the Meet and Greet event in the first week, where I was able to meet many of my new fellow peers and form relationships with people who are now my closest friends.

ASSOC has a wide variety of events, ranging from professional and careers-focused events such as Careers Fair to social events such as our annual Camp and Ball. Moreover, we hold regular combined events with our UNSW counterpart ASOC, where we compete with them in both Basketball and Futsal. Having a wide variety of events allows you to develop holistically, where you have the opportunity to improve upon professional skills such as leadership, teamwork and time management, as well as other aspects such as social skills. ASSOC strives to ensure that your experience at university is so much more than solving differential equations and calculating probabilities. In a highly competitive sector such as the Actuarial Industry, there are many important skills that add to your employability which cannot be taught in a classroom.

ASSOC would not be where it is and have the impact that it does without the students that make up the society. Every year we gain around 100 new members, which allows us to continually expand the range of people we are able to reach. While ASSOC primarily consists of actuarial students, students from any degree are welcome to join as it only adds to ASSOC’s diversity. Moreover, whether you are a first year or a fourth year student, it is never too late to join and experience what ASSOC has to offer.

My personal experience with ASSOC has been amazing so far.

During first year I joined the Delegate team, which was a very enjoyable experience. I was able to take part and attend many different events, which allowed me to meet many new people and form relationships with people who are now some of my closest Cabinet friends. This inspired me to join Committee, where I was able to be part of the Poker and Careers Workshop teams. My committee Committee experience helped me grow as an individual and improve upon many personal and professional skills, which further inspired me to run for the Cabinet where I was fortunate enough to be elected Delegates as the 2019 President. My goal is to ensure everyone feels a part of the family that is ASSOC, as well as benefits from all the opportunities that we provide to our members. If you are not already a part of ASSOC, then take your first step and join today!

- Aman Pamnani President 2019

Actuality 2019 | 5

What is Actuality?

Y

ou may be wondering what this magazine is and why you got it. Well, very likely it’s because you’re a first year Actuarial student ready to make the next big step in your life or you’re an existing student keen on the things that ASSOC does.

Actuality is an annual magazine produced by ASSOC Cabinet filled with useful reads, particularly for first-years on how to settle into uni, their subjects and to learn more about ASSOC. I remember when I read Actuality when I was a first-year back in 2017. Not only was it such a great medium for learning about how ASSOC operates but it was also a fun read with lots of engaging and well-designed articles from start to finish. It was such an inspiring magazine and because of that, it was a great privilege for me to be the co-creator, alongside ASSOC Cabinet 2019, of this wonderful magazine.

But the magazine fun doesn’t stop there. ASSOC also creates another magazine: Actualite.

This magazine is different from Actuality, as this one is produced 3 times throughout the whole year, it’s more of a casual read to keep you engaged with the activities that ASSOC does throughout the year and it’s packed with lots of fun, miscellaneous articles with something for everyone! The idea of writing articles that you really want to write was what got me to step out of my comfort zone as a boring actuarial student, join ASSOC Committee’s Media & Publications Team and discover my hidden passion for graphic design and article writing. I think I can also confidently say the same for the 2019 Media & Publications Team, who will create and deliver Actualite for you first-year Actuarial students as well as those from the other years.

ACTUALITE

2018 Issue 2

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I hope that you continue to enjoy reading through Actuality and that reading it (or attending ASSOC events) inspires you to be a part of the multitude of great things that ASSOC does, just like how it did for me as well as the other Cabinet members and the individuals that comprise of Committee.

- Joshua Irawan Media & Marketing Director 2019

ACTUALITE 2018 | ISSUE 3

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ACST Starter Pack What is Actuarial Studies?

If you’re reading this, chances are that you’re studying Actuarial Studies, or about to begin studying Actuarial Studies. While some of you might have thoroughly researched on what Actuarial Studies is before studying it, most of you might have just thought that it involves a lot of maths and gives good money. So what is it really?

In short, Actuarial Studies is the application of mathematical and statistical theory to assess various risks in business, finance and insurance. For example, you might want to find out the probability or risk of a certain person being afflicted with a condition so severe that they can no longer work. Or maybe you want to predict how the value of a certain asset moves so that you can make a profit out of it.

At the start of your studies, you will learn about mathematical and statistical theory. While they may be complex and tedious, in the later years, you can see how they can be applied in more tangible situations when you start studying the more actuarial-focused units.

Overall, it’s a very challenging but rewarding degree, and even if you don’t end up working in a traditional actuarial career, the skills you obtain in this degree will still make you an invaluable individual in many different fields.

Advice: 1. Do some extra-curricular stuff. Not only do they provide opportunities to develop you in a multitude of ways, they also show your future employers that you are a well-rounded individual who can tackle a wide variety of situations.

2. Form friends. Generic, I know, but it’s much harder to make more permanent friendships in university compared to high school. Having friends to study together can ensure a healthy social life and be able to pull through what is considered Macquarie University’s most prestigious degree.

3. Maintain a study-life balance. First year is the perfect opportunity to try to balance between studying and social life. While the first thing you may want to do is to either study hard to get good grades or just spend everyday partying and hanging out with friends, it is important for you to try to balance between them to ensure that you can maintain good grades whilst having time to enjoy yourself.

4. Attempt to network. Networking, regardless of career path, is an important skill to have, as it is an important stepping stone in creating professional relationships. Go to careers events which has professionals from various companies and try your best to talk to them and learn more about the industry. ASSOC hosts a lot of actuarial-specific career events for you to come and develop your networking skills.

- Lewis Yeung Chairman 2019

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Treasurer’s Report

In addition, ASSOC revamped events such as the MLC Case Study, which allows our members to experience real life scenarios from their future career paths in a fun and interactive way. Furthermore, through fundraising alone, the Cabinet raised more than 9000 dollars which has aided in putting ASSOC in a very strong financial position.

The financial aspect plays an important role in determining the success of the events.

The Cabinet was diligent in maximising the money invested in the society by our sponsors.

On an accrual basis, the 2018 Cabinet successfully brought in a profit of $4656.90, keeping

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Expenses

ASSOC has yet again managed to not only have a successful year but also a profitable one. The Cabinet last year really showed what great organisational skills can achieve. They planned for every event weeks before it happened, regardless of how big or small the event was. All the meticulous planning really did pay off, as this was the first year in the last 4 years that the annual Ball and ASSOC Camp made a profit. Furthermore, by doing strategic fundraisers and finding cost-effective measures, even more money was conserved in the process.

Revenue

Analysing and interpreting financial reports like these are, without a doubt, second nature to real world actuaries. Have a glimpse of how ASSOC raises and uses its money for the myriad of activities we do.

From the period 1/1/18 to 31/12/18 Terms FY18 FY17 New Members $ 1,240.00 $ 1,270.00 Corporate Sponsorship $ 16,300.00 $ 17,700.00 University Sponsorship $ $ 500.00 Fundraising $ 9,774.00 $ 3,391.80 ASSOC/JASS Ball $ 11,301.07 $ 12,239.30 ASSOC Camp $ 12,027.25 $ 13,794.20 Sport Events $ 1,362.96 $ 1,167.55 Other Revenue $ 1,246.00 $ 2,959.49 Total Revenue $ 53,251.28 $ 54,022.34 Careers Events ASSOC Camp ASSOC/JASS Ball Other Social Events IT Events Sport Events Media and Publications General Costs Total Expenses

$ 6,438.72 $ 11,722.36 $ 13,802.78 $ 2,413.24 $ 732.93 $ 2,838.30 $ 1,994.00 $ 8,654.05 $ 48,596.38

$ 7,881.88 $ 12,392.13 $ 15,312.24 $ 1,731.52 $ 548.15 $ 3,304.10 $ 2,067.20 $ 8,986.10 $ 52,223.32

Profit/(Loss)

$

$

ASSOC in a very strong financial position.

This year’s Cabinet hopes to further develop the overall experience for ASSOC members by continuing the good work done by the 2018 Cabinet and bringing in other initiatives of our own. One aspect of ASSOC which we would like to enhance is our relationship with the general community. This year we will invest more into community-

4,654.90

1,799.02

based events to grow our membership base even more and increase ASSOC’s reputation.

I would like to wholeheartedly congratulate the departing 2018 Cabinet, in particular their Treasurer, Naomi Huynh, whose meticulous planning and strict budget control led to an immensely profitable year.

- Aakash Malhotra Treasurer 2019

Meet the Cabinet How does ASSOC exactly work, and who are the people that manage it? That’s us - ASSOC Cabinet. Meet the people that work to make your university experience fantastic!

What is my role?

I manage ASSOC as a whole, so while I am not directly involved in any event I always have to know what is going on and be able to step in when help is needed.

What does ASSOC mean to me?

ASSOC means everything to me as it helped me meet the people who are now my closest friends.

Being part of the ASSOC family is an amazing wholesome experience, and my goal is to help everyone feel a part of this family as well as benefit from all the opportunities that we provide.

Interesting fact(s) about myself?

Aman Pamnani

I am a massive sports fan, and I also used to be an Australian ranked tennis player. I also consider myself to be very good at bluffing, where I can say something with complete confidence even if it is totally wrong.

President

What is my role?

I’m the primary contact between ASSOC and the university; I make sure all events are approved and follow uni policies and the student code of conduct.

What does ASSOC mean to me?

Being part of ASSOC has allowed me to make many great memories and develop wonderful friendships with many people. I’ve been able to improve on my professional skills as well as grow as an individual.

Interesting fact(s) about myself?

In my spare time, I like to pick up random hobbies, like knitting. I play Social Netball to challenge myself to make new friends. And I am, without question, the shortest person in this year’s Cabinet.

Debbie Ngo

Internal Vice President What is my role?

Essentially, my job is to maintain sponsor relations with ASSOC. I’m the point of contact between our sponsors and students. As such, I make sure our sponsors and student members are able to interact in a meaningful and beneficial manner.

What does ASSOC mean to me?

As cliché as it may sound, I am not the same person I was when I started university. I’m a much more confident and proactive individual now. ASSOC has genuinely given me the opportunity to meet great people and develop in ways that I will be forever grateful. As you read through the rest of our responses, you will find this to be a common theme among us all.

Interesting fact(s) about myself?

Darren Ignatius

External Vice President

Despite not being able to dance to save my life, I somehow managed to perform in front of a cumulative audience of around 1400 people last year for a theatrical production with my mates.

This year, I’m helping to produce our next production.

What is my role?

I manage a lot of the admin work that has to be done in ASSOC, including mass emails, the Facebook page and membership. I’m also the first point of contact for non-sponsor or general queries.

What does ASSOC mean to me?

ASSOC has given me the opportunity to take part in many things that I wouldn’t have been able to otherwise. This includes talking to sponsors, meeting actuarial students from other years, and running events such as ASSOC’s very own Amazing Race!

Interesting fact(s) about myself?

In high school, I used to play the bassoon for 6 years. It weighed about 10kg and carrying to school and back was my main source of exercise every week.

Isabel Li Secretary

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What is my role?

My role is to manage and distribute funds given to us by our trusted sponsors, in order to run all events effectively. I also work with the ASSOC teams to ensure that events run within the set budget and providing the university with monthly cash flow income-expenditure statements.

What does ASSOC mean to me?

ASSOC for me is more than a society - it’s a family. Through ASSOC, I have not only met a wide variety of amazing individuals but I have maintained strong bonds with my peers as we struggle through the Actuarial course. Without ASSOC and the support it brought to me, I would have most likely not been able to make it to the stage I am at now.

Interesting fact(s) about myself?

Aakash Malhotra Treasurer

If there is one interesting fact about me, it’s that I am a night owl. I cannot fall asleep before 3am and I cannot stay asleep after 9am. I also love to try all kinds of food, so to everyone reading this, if you want to win over my attention, bring me food please!!

What is my role?

My role is to oversee all careers events within the Actuarial Students’ Society in order to provide a professional insight into the Actuarial Industry for Actuarial Students.

What does ASSOC mean to me?

Without ASSOC, I would not be the person I am today. I’ve become extremely appreciative of the people around me and what they have done to help and proud of people I can call my closest mates.

Interesting fact(s) about myself?

In a three month span, I went from 91 kg to 78 kg. This is one of my most proudest achievements of my life!

Benjamin Pham Careers Director What is my role?

As Internal Social Director, my role is to organise certain key events throughout the year such as Meet and Greet, ASSOC Camp, and as a new addition to this year, I will also be managing the Social Experience Team (SET), which I am greatly looking forward to.

What does ASSOC mean to me?

ASSOC is a great place to strengthen and foster new and existing relationships with your fellow peers. Additionally, it is a great platform to develop new skills that will most certainly aid you in any future endeavour. And the limit to your personal growth in ASSOC is confined only by the barriers you place upon yourself, so don’t feel afraid to express yourself and voice your opinions!

Interesting fact(s) about myself?

Harvinder Gill

Internal Social Director

I am very fond of the different ways that our species communicate throughout the ages, and I am a firm believer that the next steps are memes and gifs. So if you wanna strike a bond with me, please send me a delicious meme and I will respond in a similar and competitive fashion. :DDD

What is my role?

My role as the External Social Director is oversee and lead the Charity, ASSOC Integrate and Ball teams. These teams focus on connecting ASSOC students and sometimes sponsors in a more inviting and less formal manner.

What does ASSOC mean to me?

ASSOC has quickly become a home for me. At first, it was a way to make my resume look ‘good’.

However, it’s much more than that. Not only is it somewhere that I could grow as a person and become more confident, ASSOC has introduced me to my closest friends. It is easy to say that I would not be the person I am today without ASSOC.

Interesting fact(s) about myself?

I have a cute dog.

Kevin Cheung

External Social Director What is my role?

As Sports Director, I manage all the sporting events that ASSOC is involved in throughout the year. I am also involved in contacting venues for sports events and working with ASOC (UNSW) to collaborate events such as basketball and futsal.

What does ASSOC mean to me?

ASSOC brings together students in an environment where everyone is going through similar successes and struggles as yourself. More of a family than just a society, ASSOC means a great deal to me whether it is the many long-lasting friendships I have made over the last 2 years or just the valuable skills and experiences that I have been able to build on whilst interacting with key sponsor representatives.

Nripesh Ahuja Sports Director

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Interesting fact(s) about myself?

Apart from following and competing in a lot of sports, I also like to act in short films and stage plays, a hobby I wish to continue to pursue.

What is my role?

My role is to supervise the Excel team which runs events throughout the year such as the R Workshop. I am also in charge of updating ASSOC’s official website.

What does ASSOC mean to me?

ASSOC has not only held fun events and created lasting memories, it has also continued to encourage me to step out of my comfort zone so I can grow as an individual.

Interesting fact(s) about myself?

Although the gym I frequent offers a wide variety of classes, I usually just attend ones for Zumba.

They provide an intense but fun cardio workout!

Wendy Nguyen IT Director

What is my role?

I oversee the promotional materials that the teams in ASSOC produce and provide assistance with regards to that. I also take photos at events and guide the Media & Publications Team in producing ASSOC’s official magazine.

What does ASSOC mean to me?

ASSOC means a myriad of things to me - new friends, personal growth, fresh experiences, unfathomable opportunities; honestly, the list just keeps going. Who could have guessed that I would participate in an actuarial debating competition, let alone win it?

Interesting fact(s) about myself?

When I’m not studying or doing ASSOC work or careers searching, I usually watch anime, read manga, play video games - pretty much weeaboo stuff uwu. But it doesn’t stop there; I’m also lowkey Koreaboo.

Joshua Irawan

Media & Marketing Director

What is my role?

Having been a Cabinet member last year, I use my previous experience to provide wisdom and guidance to the current Cabinet to ensure that they can make informed choices.

What does ASSOC mean to me?

ASSOC, to me, is the definition of development. Throughout my time in ASSOC, I have developed my confidence and professionalism, whilst forming meaningful and most likely long-lasting friendships. ASSOC really marks my personal growth, and I am truly grateful for what it has done for me.

Interesting fact(s) about myself?

Lewis Yeung

The two genres that I listen to most are Metal and K-Pop. I have also had A5 Kobe Beef and it was ridiculously delicious.

Chairman

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Meet Finity Graduate, Ana Sikoska Ana Sikoska is a graduate at Finity Consulting. She completed her Bachelor of Actuarial Studies and Bachelor of Economics and joined Finity in 2018.

Finity is one of Australia’s leading actuarial and analytics consulting firms.

Here’s what she told us about her first year.

Did you always want to be an actuary?

From the age of 15, I wanted to be an actuary. I think I googled ‘what’s the most respected job/best job’, when I was young. Actuary came up as number one. I thought “okay I’m good at maths, let’s run with this.”

Why Finity?

By my second year (of uni) I knew I wanted to work for Finity. I went to a networking event and I just thought the firm looked so cool. They had all this free food, and their banner was bright yellow compared to the usual dull corporate colours. One of the main reasons I wanted to work at Finity was also because every touch point, every interaction I had with them was just really lovely. They’re really good at what they do and they love what they do.

What was the application process like?

The strategy I had was not to apply for as many graduate jobs as possible, but rather see which firms I would love to work for, and to only apply for those. So I only sent five or six applications but put in a lot of effort and made sure I wanted to work in these places. A good thing about the Finity application process is that it’s fast. I simply uploaded my resume onto their website and the next day I received a phone call. The thing is, if they see your transcripts, and you graduated Uni, Finity knows you have the technical skills – so they don’t waste time testing your aptitude. I actually had a few other applications still open, with interviews to do, but as soon as I got the offer from Finity, I was like ‘sorry guys, I’m with Finity now.’

What was it like working at Finity?

In my first year I learned more than I could possibly imagine. And I also feel like I learnt more than I would have in other firms, because at Finity you get a lot of

support. I definitely believe Finity is the best place for people to kick-start their actuarial careers because of the real hands-on experience. You’re surrounded by people who are experts in their industry who you can talk to openly and candidly. From day one your opinion is valued. You’re treated as though you know what you’re talking about even though you may feel like you don’t.

What are some tips for graduates applying for roles at Finity?

The best tip is to research the firm.

Find out whether you really want to be working there.

Also, attend all the networking and career events. For example, I attended a networking event the day before my final interview round at Finity, and there were Finity representatives there. So I went up to them and I was like ‘help, I’ve got an interview tomorrow, what should I do, what should I prepare for?’ Believe me, it really helped!

How does Finity support its graduate employees?

The study support at Finity is fantastic and their pass rates are miles ahead of the rest of the industry. Why that’s the case is because when you start you get so much exposure to and knowledge from the people you work with. They encourage you to take days off to study and they also have ‘guru sessions’ with senior consultants for those sitting exams. Everyone in the firm wants young actuaries to be the best actuaries they can be. So they go out of their way to make sure that you’re learning every step of the way. It’s almost like they’re making you think like a consultant so you can seamlessly step into that role later on.

What would you say to graduates considering applying to Finity?

Do it!

Upcoming events Ever wondered about the things that ASSOC does? Here are the list of events that the Cabinet of 2019 has in store for the year ahead.

Meet & Greet (Semester 1 Week 1)

An event aimed at introducing the new first year actuarial students to their fellow peers and also to encourage the formation of new bonds between them as well as their seniors. Also a great time to just have fun, play games and network over pizza!

PwC Welcoming BBQ (Semester 1 Week 1)

A barbecue held in the afternoon with our friends from PwC. A great opportunity to network with the representatives from PwC and enquire about any actuarial-related matters from the experts themselves.

Annual Delegate Meeting (Semester 1 Week 2)

An event held for first year students who are interested in being a part of ASSOC. The delegate experience is unique as it allows for you to have a significant role in this student society. If you are interested in ASSOC and are keen to find out more, this event is a must!

World’s Greatest Shave (Semester 1 Week 3)

This event is our most well known charity event and has been for many years. Get your hair cut, or even just dye it to raise money for the Leukemia Foundation.

Careers Fair (Semester 1 Week 3)

A professional networking experience you do not want to miss.

Seize the opportunity to learn about the actuarial experience from numerous sponsors whilst having the chance to grow your professional network.

Excel Workshop (Semester 1 Week 4)

Run by experts at leading data analytics firm Quantium, this workshop aims to help either familiarise students with important technical skills in operating Excel or further develop them.

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EY Games Night (Semester 1 Week 5)

Sponsored by EY, the Games Night is an event that lets you socialise and compete against your fellow ASSOC members and the EY representatives. Play the miscellaneous games and win prizes!

Poker (Semester 1 Week 7)

As an actuary, you must play with risk and probability so what better way than to test yourself in that facet against your own peers in one of the more intense sporting events of the year. Cash prizes to be won!!!

Excel Challenge (Semester 1 Week 8)

A fun and anticipated event where everyone can participate regardless of Excel proficiency, so there’s the chance to learn something new. Amazing prizes are awarded to those who win!

Careers Workshop (Semester 1 Week 10)

Applying for an internship or graduate position? This event will provide three different and valuable workshops run by sponsors which will give you helpful tips and tricks to make you stand out during each application stage!

Futsal (Semester 1 Week 10)

We all spend hours grinding through our books but everyone needs that little bit of physical fitness to keep us going through uni. So whether you want competition or fun, futsal ticks all boxes as the perfect sporting event!

Mock Interview (Semester 1 Week 12)

To get a head start into your career, applying for internships and graduate positions become very important. A vital stage in this is the interview stage. Mock Interview provides you with an excellent opportunity to either give you firsthand experience of interviews or refine your interview skills.

Amazing Race (Winter Break)

A very fun and exciting event that you can sign up individually or as a team of up to 4 people. Each team will start off at a location in the city and receive clues that lead them to the next. The first team to complete the activity at the final location wins!

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Camp (Winter Break)

One of ASSOC’s most anticipated events of the year. Come along with your friends for 3 days and 2 nights of fun! There will be several activities available and nothing is off limits (within reason of course!)

Basketball (Winter Break)

A great way to bond with your classmates and make new friends from UNSW during the mid-year break. Cash prizes to be won for winning teams!

Pool (Semester 2 Week 2)

A nice ease into 2nd Semester with a bit of everyone’s favourite, pool. You can gossip with mates, have some fun with the round robin competition or even get competitive and challenge your peers to see who will be the best pool player ASSOC has!

Meet the Professionals Night (Semester 2 Week 4)

Still have no clue what actuaries do? This event is designed to provide amazing insight into the actuarial world and the different types of work you can potentially work for in the future.

R Workshop (Semester 2 Week 5)

Knowing how to use statistical software in the actuarial industry is a highly sought-after skill. R is becoming a more widely used programming language. This workshop focuses on understanding and developing basic skills for R.

Deloitte Critical Thinking Competition (Semester 2 Week 6 - Mid Semester Break)

Find public speaking daunting? This competition provides the perfect opportunity to learn and develop your communication skills by presenting your findings to sponsors and other superiors through debating.

ASSOC Ball (Semester 2 Mid Semester Break)

The annual ASSOC Ball has been a tradition for many years. ASSOC students can reminisce on the good times of the year in a beautiful venue around amazing friends and in their best formal clothes.

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Australian Open 2019 Makers of history come together and make battle on the sacred grounds

PERFORMING PLAYERS Australians:

The 3 shining Aussie stars of the slam were Alex de Minaur, Ashleigh Barty and Samantha Stosur. De Minaur, who won the Sydney International just a couple of days before his first-round clash at the Australian Open, was one player all the local fans were excited to see being tested on the bigger stage. After his first 2 round wins, De Minaur had to unfortunately face a rampant Rafa who defeated De Minaur in straight sets to end the 19 year old’s 2019 Australian Open campaign. Another outstanding local was Ash Barty, a former Brisbane Heat player in the women’s big bash. Ash played extraordinarily well as she really put her opponents to the fore and even had a major scalp during the round of 16 in the form of Maria Sharapova.

However, she fell against eventual finalist Petra Kvitová in the quarter finals, her second loss to the Czech in 2 weeks after the loss in the Sydney International final.

Another notable Aussie performance was in the women’s doubles. Sam Stosur and Zhang Shuai managed to pull off an amazing performance at the doubles, as they won the finals to be crowned Australian Open champions.

Novak Djokovic:

Often left out in discussions about the greatest tennis player, Djokovic is fast establishing himself as the most powerful tennis player of all time. Federer has the charisma, Nadal has the power game down the forehand line, but Djokovic has to be the strongest out of the 3. In his final against Nadal, Djokovic’s serves were deathly and he won an astonishing 84% of second serve points to go with his 80% first serve points. He attacked Nadal’s forehand consistently and didn’t shy away from taking on Rafa’s powerful serves as Djokovic establishes himself as one of the best defensive players in the Open Era. With his 6-3 6-2 6-3 demolition job on the Spaniard, Djokovic takes his Australian Open tally up to a record 7 titles. Djokovic’s greatest year to date was 2015 where he won every grand slam except French Open however it’s scary to opposition players on tour that he’s in a better and more threatening form right now. He has won 3 grand slams in a row for the 3rd time and if he wins the next 2 grand slams, it could be his 2nd time winning a career grand slam.

Naomi Osaka:

After her extraordinary win against Serena Williams in the US Open final, Naomi Osaka had a chance to grab back to back grand slams when she came up against Petra Kvitová in the Australian Open final.

With this win, she claims the number 1 ranking, another milestone in her ever so growing career. To go with her powerful serves and aggressive style of play, Osaka has a strong mental game and a ‘never say die’ attitude. This was proven in the finals where she threw away the 2nd set after her match points, however, came back to dismantle Kvitová in the 3rd set to win the first major of the year 7-6 (7-2), 5-7, 6-4. This emergence of a strong young Japanese player in the form of Naomi Osaka brings other players on tour to be on a more watchful notice if they are to really challenge her within the coming years.

Rafael Nadal:

Despite a heavy loss in the Open final, there’s no denying that Nadal is back to business after a few months out through injury. Following an ankle surgery and then a thigh strain just weeks out from the Australian Open, Rafa battled hard to make it into the finals, further displaying the fighting spirit that he was so well known for. Rafa’s opponents weren’t the greatest en route to the final and didn’t drop a single set till the first set of the final, where he faced the in-form Djokovic. His forehand was attacked relentlessly in the Open final, something that hadn’t been done the whole tournament and this took Rafa a while to adjust to. Nadal summed it up very well in the press conference following his final loss, where he commented about how he hadn’t played tennis for 5 months and wasn’t challenged at all during the 2 weeks tennis, so it was difficult for him to adjust physically and mentally to Djokovic who was playing the exceptional tennis that he was. Nevertheless, with sufficient match practice and recovery sessions, Nadal will look to get back fit and fresher with his favourite grand slam looming.

KEY MATCHES

The rise of a new beast

One of the biggest upsets of the tournament was Frances Tiafoe’s 2nd round win over the 5th seed South African Kevin Anderson. With Tiafoe’s past record against Anderson not the greatest (he lost to him 3 times in 2018) and a set down, Tiafoe found the extra push to win the next 3 sets in an extraordinary win. Tiafoe was visibly elated after the match after his biggest scalp till date to move onto the 3rd round. The American young gun’s dream continued when he defeated Italian legend Andreas Seppi and then upset Grigor Dimitrov. However, his brilliant run ended as he faced Rafael Nadal in the quarter finals where he lost in straight sets to cap off an otherwise terrific tour.

The tale of the twisted ankle

One of the biggest comebacks of the tournament was even made more extraordinary as it was against the holder of 23 grand slam titles, Serena Williams.

Williams was up 5-1 in the 3rd set but failed to capitalise when handed 4 match points. The reason potentially being that Williams had twisted her ankle after the first of the match point. But more so the fact that her opponent Pliskova had played out of her skin to win 6 straight games in one of the biggest stories of the Open.

“Changing of the guard?”

Another huge upset was the veteran Roger Federer’s loss to the 20-year-old ‘Greek God’ Stefanos Tsitsipas. Federer was yet to lose at Melbourne since 2016 where he lost to Djokovic in the semi-finals and it seemed like that run was going to continue after the defending champion got off a great start taking out the first set in a thrilling tiebreak. However, Tsitsipas rose to the occasion as he battled out to beat his idol in 4 sets. It was a fascinating match, Tsitsipas’ game based so much around Federer’s. His charges to the net and his fierce backhands would remind any tennis fan about a much younger Federer back in the day. John McEnroe described Tsitsipas’ dream win as the “changing of the guard”, much to the amusement of Federer.

56 minute shellacking

German Angelique Kerber was cruising through until her 4th round clash with American Danielle Collins, who only dropped 2 games to end Kerber’s run in the 2019 Aussie Open. Kerber announced herself to the tennis world with her shock Australian Open win against Serena Williams in 2016. However, with the odds in her favour this year, she failed to qualify for the quarterfinals as she fell short against the gritty world No.35 Collins. Collins ultimately made it into the semi-finals, which was one of the many surprises the tournament had in store for us but unfortunately, she had to bow out against the in-form Kvitová.

- Nripesh Ahuja Sports Director 2019

Actuality 2019 | 17

First Year Unit Guide

By Debbie Ngo, Isabel Li, Wendy Nguyen

ACST152 - Introduction to Actuarial Studies

As you may have guessed, this is a unit which will introduce you to the basic concepts in actuarial studies and gives insight into problems that working actuaries may face. It covers background knowledge on industries in which actuaries are commonly found, like superannuation and life insurance. On the technical side, you will also be introduced to some basic Excel commands, present value calculations and life tables. Although the new concepts introduced may seem confusing, it gives a good foundation to several units you will encounter later in your actuarial degree.

ECON110 - Macroeconomic Principles

This unit, alongside ECON111, requires a credit or higher for a CB2 exemption. Macroeconomics focuses on the entire economy as a whole.

You will be studying various factors which affect supply and demand including fiscal and monetary policies. ECON110 is similar in difficulty to ECON111 so keeping up with tutorials is very beneficial. For those undertaking a double degree with Applied Finance, these first year economics units will set up the foundation for higher level ECON units.

MATH132 - Mathematics IA (Advanced)

This unit is taught by two lecturers, one covering algebra and the other covering calculus. Your first MATH unit will bring back some familiar content, namely complex numbers and polynomials. You’ll then be later introduced to matrices. This isn’t a hard concept, but be sure to spend ample time on it as it will be useful later on throughout your actuarial degree. Furthermore, if there are concepts that you find confusing, the Numeracy Centre is there to help. University-level maths isn’t something you can succeed by pure memorisation.

STAT171 - Statistical Data Analysis

You will be eased into the world of statistics through this unit. The key concepts covered include probability, inference testing and linear regression. There’s quite a bit of content covered, so be sure to stay up to date with the quizzes and tutorials; they provide great ways of reinforcing your understanding of the content. Suzanne also does a great job providing detailed examples for important concepts like inference testing and tying up all the topics together at the end. Her tests are doable but make sure you keep track of time!

18 | Actuality 2019

Transitioning into university is a big step and it might be hard to adjust at first.

We’ll help you out! Below are outlines of your entire first year units coupled with some tricks of the trade.

ACST252 - Finance and Financial Reporting

This unit covers problems in corporate finance, which in essence, comprises of a firm’s decisions on investments and how to finance them.

Although this may sound simple, this course requires in-depth knowledge of technical terms and processes involved when firms make these decisions. Make sure you go over the textbook in detail, or you may find the quizzes or final exam to be difficult. This subject has just been moved from the second to first year program so it may be challenging for some.

However, clearing this subject with a credit or above will grant you the CB1 exemption from the Actuaries Institute!

ECON111 - Microeconomic Principles

Prior study of economics is not necessary but it will make the unit easier to grasp. This unit deals with economics on a small scale, looking at individual decisions and the behaviour of firms through the use of colourful graphs.

Alongside completing weekly online quizzes, attending tutorials ensure that you are staying on top of the unit content. Despite what it sounds like, this unit is logical and straightforward for the most part. Also to note: A credit or above is required to be eligible for CB2 exemption.

MATH133 - Mathematics IB (Advanced)

From general consensus, MATH133 has a steep learning curve compared to MATH132. Like with MATH132, there will be two lecturers. The calculus part tackles A LOT of theorems, covering a broader range of concepts such as convergence, Taylor Series and differential equations. The algebra part works on your knowledge of matrices and vectors, expanding to key concepts such as vector spaces and eigenvalues & eignevectors. There is a lot more content, so be sure to keep up to date with tutorials!

????XXX - Recommended Elective

COMP115 - Introduction to Computer Programming A taster to programming, the concepts learnt can be applied to many statistical or software packages that you may come across in your degree.

COMP125 - Fundamentals of Computer Science This unit introduces more formal software design methods with an emphasis on developing problem-solving algorithms.

ACST212 - Combinatorial Probability Was a compulsory unit. Despite being 200-level, it’s intended for first year students and expands upon high school permutations and combinations.

Actuality 2019 | 19

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