The Department of Actuarial Science is exceptionally proud of its alumni. Former students occupy the highest positions in the insurance and investment world, not only in South Africa but also abroad. We strive to keep our programme competitive and to make it possible for our students to leave the University with several exemptions from the examinations of the Actuarial Society of South Africa (ASSA). Our lecturers include highly skilled academics who serve on various ASSA committees.
Developments in the modern financial industry have led to a rapidly changing financial world. These changes create a growing need for graduates who are thoroughly skilled in the financial models and quantitative techniques that are used in modern actuarial and financial mathematical applications. Throughout their three years of study, students who are enrolled for a BSc (Actuarial and Financial Mathematics) degree can choose between an actuarial or a financial mathematics option for their coursework. 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 comply with the requirements for exemption from the ASSA examinations in the shortest possible time. To achieve the maximum exemptions, a follow-up honours degree is recommended. Students who elect not to complete the follow-up course 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.
For more information, please consult the Faculty webpage.
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.
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Important information for all prospective students for 2022
Transferring students
A transferring student is a student who, at the time of application for a degree programme at the University of Pretoria (UP) –
A transferring student will be considered for admission based on
Note: Students who have been dismissed at the previous institution due to poor academic performance, will not be considered for admission to UP.
Returning students
A returning student is a student who, at the time of application for a degree programme –
A returning student will be considered for admission based on
Note: Students who have been excluded/dismissed from a faculty due to poor academic performance may be considered for admission to another programme at UP. The Admissions Committee may consider such students if they were not dismissed more than twice. Only ONE transfer between UP faculties will be allowed, and a maximum of two (2) transfers within a faculty.
Important faculty-specific information on undergraduate programmes for 2022
University of Pretoria website: click here
Minimum requirements | ||
Achievement level | ||
English Home Language or English First Additional Language | Mathematics | APS |
NSC/IEB | NSC/IEB | |
5 | 7 | 36 |
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, which requires an additional year of study.
Please note: Progression from the BSc – Extended programme – Mathematical Sciences to the mathematics-intensive programmes will be considered only if students obtained a GPA of 65% in their first-year modules. Students who pass all first-year modules will be advised on alternative academic pathways.
In addition, admission into the BSc (Actuarial and Financial Mathematics) programme will only be considered if students have passed IAS 111 and achieved a minimum mark of 60% in WTW 153 and WST 153.
BSc – Extended Programme – Mathematical Sciences Minimum requirements | ||
Achievement level | ||
English Home Language or English First Additional Language | Mathematics | APS |
NSC/IEB | NSC/IEB | |
4 | 5 | 28 |
Note:
*The BSc – Extended programmes are not available for students who meet all the requirements for the corresponding mainstream programme.
*Please note that only students who apply in their final NSC or equivalent qualification year will be considered for admission into any of the BSc – Extended programmes.
3 years, full-time.
The Faculty of Natural and Agricultural Sciences is home to more than 6 500 undergraduate and postgraduate students. The Faculty presents degrees in fields ranging from the proverbial A to Z – from actuaries to zoologists, and consists of 13 departments.
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. According to the latest Times Higher Education World University Rankings the University has achieved new world rankings in Physical Sciences, a discipline which features strongly in NAS and also maintains excellent positions on the ISI Web of Science (WOS) field rankings in Plant and Animal Sciences, Agricultural Sciences, and Environment and Ecology Sciences.
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.
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