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Masters

Actuarial Science

University of Witwatersrand
Johannesburg , South Africa
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Medium of studying
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Duration
1 years
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Program Details
Degree
Masters
Timing
Full time
Course Language
English
About Program

Program Overview

Actuarial Science Program

The Actuarial Science program is a 1-year full-time BSc Honours degree that focuses on long-term financial calculations, solvency of life assurers, and pension and provident funds.


Overview

The curriculum of the degree includes:


  • Actuarial Liability Management
  • Actuarial Marketing & Product Development
  • Investment & Asset Management
  • A Research Project
  • Seminars on current Actuarial Topics
  • Any two electives from:
    • Actuarial Practice in Life Assurance
    • Actuarial Practice in General Insurance
    • Actuarial Financial Theory and Application
    • Actuarial Practice in Banking
    • Actuarial Practice in Health, Social, and Employee Benefits

All 5 elective options are only offered if there is sufficient demand. The material covered offers the successful student exemption from the Actuarial Society A311 subject and the two subjects chosen from the Fellowship Principles subjects.


Career Opportunities

An actuary is a professional who applies analytical, statistical, and mathematical skills to financial and business problems. Actuaries are able to provide realistic solutions to complex problems with a long-term forward view. They are recognized to be pragmatic, innovative, and numerate, and they operate within a strict professional and ethical framework, advancing equity across all stakeholders and promoting the public interest. Actuaries have careers in:


  • Finance
  • Insurance
  • Investments
  • Asset management
  • Healthcare
  • Retirement funding
  • Banking
  • Consulting
  • Government service
  • Academia

Their skills are increasingly sought after in advanced data analytics, risk management, and climate change modeling.


Entry Requirements

The minimum Actuarial Science Honours entry requirement for students currently in the final year of a Bachelors degree is a completed Bachelors degree in Actuarial Science that covered the A100 and A200 subjects of the Actuarial Society of South Africa (ASSA). In addition, students must have obtained at least five A100 and A200 ASSA exemptions and have passed N211 (or equivalent). Students who completed their degree in a prior calendar year will be expected to have more exemptions or ASSA passes.


Current final-year undergraduate students who have not yet completed their final exams should provide:


  • A page confirming that they are a current third-year student at their university, including their estimate of the number of exemptions they expect
  • If they are not yet an ASSA member, a note stating this, which replaces their ASSA exemption record

University Application Process

Applications are handled centrally by the Student Enrolment Centre. Once the application is complete in terms of requested documentation, it will be referred to the relevant School for assessment. Applicants can monitor the progress of their applications via the Self Service Portal. Selections for programs that have a limited intake but attract a large number of applications may only finalize the application at the end of the application cycle.


Please note that meeting the entry requirements does not guarantee a place. 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 can be found on the university's website. The Fees site also provides information about the payment of fees and closing dates for fees payments. Once an application has been submitted, the fees estimator can be accessed on the student self-service portal.


For information about postgraduate funding opportunities, including the postgraduate merit award, please refer to the University's Postgraduate Funding portal, which is a database of scholarships, bursaries, and other funding opportunities available to postgraduate students. The National Research Foundation (NRF) offers a wide range of opportunities in terms of bursaries and fellowships to students pursuing postgraduate studies.


Program Details

  • Programme Code: SHA00
  • Faculty: Science
  • School: Statistics and Actuarial Science
  • Qualification: BScHons
  • Duration: 1 year
  • Study Mode: Full-time
  • Closing Date: 30 November
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