Program Overview

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Actuarial Science Program

The Actuarial Science program at the University of the Witwatersrand provides students with a solid foundation for the internationally recognized actuarial examination. With over 750 graduates having qualified as Fellow Actuaries since the program began in 1983, this degree is highly regarded.

Overview

An actuary is a professional who applies analytical, statistical, and mathematical skills to financial and business problems, particularly in environments involving uncertain future events or financial risks. The School of Statistics and Actuarial Sciences offers the largest number of accredited courses of any single university in Africa.

Career Opportunities

Graduates of the Actuarial Science program can pursue careers in various fields, including:

• Asset Management
• Banking
• Consulting
• Enterprise Risk Management
• General Insurance
• General Management
• Health Care
• Life Insurance
• Research and Planning
• Retirement Funding

Curriculum

The curriculum for the Actuarial Science program is as follows:

First-year

• Actuarial Science I
• Mathematical Statistics I
• Mathematics I (Major):
  • Algebra I
  • Calculus I
• Economic Theory IA: Microeconomics
• Economic Theory IB: Macroeconomics
• Business Accounting I

Second-year

• Actuarial Science II
• Mathematical Statistics II
• Mathematics II:
  • Abstract Mathematics
  • Differential Equations
  • Basic Analysis
  • Linear Algebra
  • Multivariable Calculus
  • Advanced Analysis

Third-year

• Actuarial Science III:
  • Computers and Communications for Actuaries
  • Life Contingencies
  • Actuarial Economics
  • Actuarial Reserving Techniques
• Mathematical Statistics III:
  • Multivariate Data Analytics
  • Risk Theory
  • Statistical Elements of Machine Learning
  • Stochastic Processes
  • Survival Analysis
  • Time Series

Entry Requirements

The entry requirements for the Actuarial Science program are:

• APS: 42+
• English Home Language or First Additional Language: Level 7
• Mathematics: Level 7
• Physical Science: Level 7

Applicants with 40-41 points and English Level 6, Mathematics Level 7, and Physical Sciences Level 7 may be wait-listed, subject to place availability. All Faculty of Science applicants must write the National Benchmark Tests (NBT) before being considered for admission.

University Application Process

The Student Enrolment Centre at the University of the Witwatersrand handles all student applications. Compliance with the minimum requirements does not guarantee a place at the University, as final selection is made subject to the availability of places, academic results, and other entry requirements where applicable.

University Fees and Funding

The current average tuition fees for the first year of study can be found on the University's Fees website. The Financial Aid and Scholarships Office provides information on student funding and scholarships, including University-funded Scholarships and NSFAS funding.

Program Details

• Programme Code: SBA03
• Faculty: Science
• School: Statistics and Actuarial Science
• Qualification: BSc
• Duration: 3 years
• Study Mode: Full-time
• Closing Date: 30 September 2025
• Majors: Actuarial Science and Mathematical Statistics