Developments in the modern financial industry have led to a rapidly changing financial world. These changes create a growing need for graduates who are well skilled in the financial models and quantitative techniques that are used in modern actuarial and financial mathematical applications. Students who are enrolled for a BSc (Actuarial and Financial Mathematics) degree can tailor their coursework in either an actuarial or a financial mathematics option throughout their three years of study. The programme provides students with a broad education that will serve them beyond what is usually expected of a graduate in these fields.

The actuarial programme is structured to provide the aspiring actuary with the opportunity to fulfil the requirements needed for exemption from the ASSA examinations in the shortest possible time. In order to achieve the maximum exemptions, a follow-up honours degree is recommended. Students who elect not to complete the actuarial qualification will be well equipped to enter the financial services industry or apply for a host of other postgraduate degree options.

For aspiring financial analysts or engineers, the programme provides depth and develops the student’s ability to design  and analyse financial products. The analytical techniques that are essential for modelling the stochastic behaviour of financial processes and analysing the resulting effects on investment portfolios are studied.

The Department of Actuarial Science is extremely proud of its alumni. Former students occupy the highest positions in the insurance and investment world, not only in South Africa, but also abroad. It strives to keep its programme competitive and to afford students the opportunity to leave the University with a number of exemptions from the examinations of the Actuarial Society of South Africa (ASSA). It has highly skilled academics who serve on various  ASSA committees.

For more information, please consult the Faculty webpage.

• Disclaimer: This publication contains information about regulations and programmes of the University of Pretoria. Amendments to or updating of the information may be effected from time to time without prior notification. The accuracy, correctness or validity of the information contained here is therefore not guaranteed by the University at any given time and is always subject to verification. The user is kindly requested to verify the correctness of the information with the University at all times. Failure to do so will not give rise to any claim or action of any nature against the University by any party whatsoever.

Actuarial and financial mathematics is a popular field, with career opportunities in the business market and at investment institutions like banks and insurance companies. The skills of mathematicians are essential in portfolio management and the modelling of financial risk. This programme prepares students for professional careers as actuaries or financial engineers. For actuaries or actuarial technicians, activities include long-term capital projects, designing the benefits of medical schemes, the management of pension funds, the determination of contributions and financial management on a sound long-term basis, the evaluation of investments in shares, property and other transactions, and the determination of the premiums and reserves for outstanding claims of insurers. Financial engineers can be employed by banks and financial institutions, brokerage firms and investment institutions. The mathematical skills of financial engineers are essential in portfolio and risk management. Activities include asset management (trading in bonds, futures and derivative instruments such as options), designing new financial products, and devising strategies to control credit risk.

• The closing date is an administrative admission guideline for non-selection programmes. Once a non-selection programme is full and has reached the institutional targets, then that programme will be closed for further admissions, irrespective of the closing date. However, if the institutional targets have not been met by the closing date, then that programme will remain open for admissions until the institutional targets are met.
• The following persons will be considered for admission: candidates who are in possession of a certificate that is deemed by the University to be equivalent to the required National Senior Certificate with university endorsement, candidates who are graduates from another tertiary institution or have been granted the status of a graduate of such an institution, and candidates who are graduates of another faculty at the University of Pretoria.
• Life Orientation is excluded from the calculation of the Admission Point Score (APS).
• Grade 11 results are used for the conditional admission of prospective students. Final admission is based on Grade 12 results.
• Please note that the Faculty does not accept GED and School of Tomorrow qualifications for entry into our programmes.

Transferring students

Candidates previously registered at UP or at another university

The faculty’s Admissions Committee considers applications of candidates who have already completed the final NSC or equivalent qualification examination and/or were previously registered at UP or another university, on grounds of their final NSC or equivalent qualification results as well as academic merit.

Candidates previously registered at a FET college or a university of technology

The faculty’s Admissions Committee considers the application of these candidates on the grounds of their final NSC or equivalent qualification results as well as academic merit.

Qualifications from countries other than South Africa

• Citizens from countries other than South Africa and South African citizens with foreign qualifications must comply with all the other admission requirements and the prerequisites for subjects/modules.
• In addition to meeting the admission requirements, admission is based on the performance in the TOEFL, IELTS or SAT, if required.
• Candidates must have completed the National Senior Certificate with admission to degree studies or a certificate of conditional exemption on the basis of a candidate’s foreign qualifications, the so-called “Immigrant” or “Foreign Conditional Exemption”. The only condition for the “Foreign Conditional Exemption” that is accepted is: ‘completion of the degree course’. The exemption certificate is obtainable from Universities South Africa (USAf). Detailed information is available on the website at click here.

University of Pretoria website: click here

*  Cambridge A level candidates who obtained at least a D in the required subjects, will be considered for admission.

*  International Baccalaureate (IB) HL candidates who obtained at least a 4 in the required subjects, will be considered for admission.

Candidates who do not comply with the minimum admission requirements for BSc (Actuarial and Financial Mathematics), may be considered for admission to the BSc – Extended programme – Mathematical Sciences. This programme takes a year longer than the normal programmes to complete.

Admissions from the BSc — Extended programmes to the BSc (Actuarial and Financial Mathematics) programmes will only be considered if students have passed all their first-year modules with a wighted average of at least 60%, passed IAS 111 and achieved a minimum mark of 60% for WTW 143 and WTW 153.

The Faculty of Natural and Agricultural Sciences is a diverse faculty with 13 departments that is supported by more than 20 centres and institutes. More than 5 000 students register in this faculty annually of which 70% are undergraduate and 30% postgraduate students.

All degree programmes are designed to develop problem-solving individuals who can easily adapt to changing circumstances and take the lead in their chosen fields of specialisation. The qualifications awarded are of world-class and provide access to a multitude of career opportunities for dynamic and creative people.

In the Faculty of Natural and Agricultural Sciences, we strive to continuously improve our high impact research and significantly address the national shortage of PhD graduates that respond to global and local challenges.