An actuarial science program is designed to teach students about analyzing risks, specifically in the insurance field. Programs will usually contain multiple mathematics courses, such as statistics and calculus, along with courses in risk analysis, computers and economics.

Due to the numerous countries within Oceania, work occasions and work permit laws differ greatly, with data on opportunities in some nations being limited. Australia and New Zealand are the most advanced countries in the area.

A bachelor's degree is given to students who fulfill the necessary requirements given by the college or university they are attending. The requirements include three to seven years of focus on a subject, typically referred to as a major or concentration.