Program Overview

Programme: BScHons in Actuarial Science

The BScHons in Actuarial Science is a postgraduate programme offered by the University of Pretoria.

Programme Information

• Code: Faculty of Natural and Agricultural Sciences
• Department: Department of Actuarial Science
• Credits: 135
• Duration: Minimum duration of study: 1 year
• NQF level: 08

Admission Requirements

General Admission Regulations

All applications must be accompanied by the following documents:

1. Certified full academic transcripts from undergraduate to current level
2. Certified copy of ID or passport
3. A research concept note (not applicable to honours or coursework master's degrees)

Minimum Admissions Requirements

1. Relevant bachelor's degree (NQF level 7)
2. Mathematical Statistics and Actuarial Science passed at final-year level of the bachelor's degree (NQF level 7)
3. A weighted average of at least 60% at final-year level of the bachelor's degree (NQF level 7)
4. Contingencies (or equivalent) passed at final-year level of the bachelor's degree (NQF level 7)
5. Exemption for at least five of the A100- and A200-level subjects of the Actuarial Society of South Africa Note: An admission examination may be required

Other Programme-Specific Information

To qualify for this degree, the candidate must successfully complete a total of at least 135 credits, made up from modules from the curriculum in collaboration with, and subject to, the approval of the Head of the Department of Actuarial Science.

• Minimum credits: 135
• Fundamental credits: 30
• Core credits: 75
• Elective credit: 30

Core Modules

• IAS 712: Actuarial risk management 712 (Credits: 50.00) Module content: Surplus management, mergers, acquisitions, insolvency and closure, options and guarantees, stakeholders, external environment, regulation, introduction to financial products and customer needs, benefits overview and providers of benefits, life insurance overview and life products, general insurance overview and products, cash flows of simple products, contract design, project management, capital project appraisal, money markets, bond markets, equity markets, property markets, futures and options, collective investment schemes, overseas markets, economic influences on investment markets, other influences on investment markets, relationship between returns on asset classes, valuation of individual investments, valuation of asset classes and portfolios, investment strategy institutions, investment strategy individuals, developing an investment strategy, modelling, data, setting assumptions, expenses, pricing and financing strategies, discontinuance, valuing liabilities, accounting and disclosure, surplus and surplus management, sources of risk, risks in benefit schemes, pricing and insuring risks, the risk management process, risk management tools, capital management, monitoring.
• IAS 722: Actuarial communication 722 (Credits: 15.00) Module content: Communicating technical actuarial concepts effectively, the drafting process of a document, planning and structure of a document or presentation, style and tone of a document or presentation, drafting documents, presentations.
• NPN 780: Research project 780 (Credits: 30.00) Module content: The research project is compulsory. A detailed project proposal should be submitted to the head of department by a prescribed date for approval.

Elective Modules

• FNI 700: Finance and investment 700 (Credits: 40.00) Module content: The application of modern techniques in financial management to the financing of corporate entities and the management of assets.
• IAS 721: Enterprise risk management 721 (Credits: 40.00) Module content: ERM framework, external risk frameworks, stakeholders, risk appetite, the risk management function, risk management processes, risk identification and assessment, risk classification, risk measurement, risk modelling, analysis of data, copulas, fitting models, extreme value theory, the use of models in ERM, analysis of selected risks, risk optimisation and risk responses, risk management of selected risks, economic capital.
• LEW 700: Life assurance 700 (Credits: 40.00) Module content: The following aspects of the operation of a life insurance company are covered: general business environment, products offered, asset shares for life insurance contracts, with-profits surplus distribution, actuarial funding, models, setting of assumptions, aspects of products design, alterations to contracts, development and maintenance, investment, risk management procedures including reinsurance and underwriting, cost of guarantees, policy data checks, capital management and the actuarial control cycle, modelling and monitoring policy cash flows for purposes of pricing, profit analysis, statutory valuation reserves and ongoing solvency.