Applications for 2024 post-graduate studies are now closed. Closing date for post-graduate studies in 2025 is 31 October 2024. Please visit www.sun.ac.za for details on the application process. All the postgraduate programmes are offered on campus - hence not online nor remotely.
Here you can find information on the following postgraduate programmes in Actuarial Science:
Please
note that all our postgraduate programmes are selection programmes.
Apart from adhering to the minimum requirements per programme (Honours
and/or Masters), selection is further done on excellent academic merit
and only a limited number of students may be admitted to any such
programme. Adhering to only the minimum requirements does not guarantee
automatic admission.
Honours Programme in Actuarial Science
43214 – 778 (120) BComHons in Actuarial Science
Click here for a detailed description of this programme that can also be downloaded and printed.
Admission:
For admission to the one-year Honours programme applicants should have:
- A BCom (Actuarial Science) or equivalent degree with Actuarial Science and Mathematical Statistics as majors;
- Passes in university modules equivalent to at least six of the seven foundation and intermediate technical subjects of the Actuarial Society of South Africa (or equivalent subjects of the Institute and Faculty of Actuaries); and
- Exemptions from (or passes in the profession's examinations for) at least five of the foundation technical and intermediate technical examinations of the Actuarial Society of South Africa (or equivalent examinations of the Institute and Faculty of Actuaries). Your five subjects must include at least A211 or A213 (CM1).
Please note:- If you did not complete your bachelor's degree in the minimum time of three years, you must have an additional exemption for each additional year.
- If you only have 4 exemptions (after a three-year Bachelors) or 5 exemptions (after a four-year Bachelors) you may be considered for an extended (two-year) honours programme.
- It is expected that you should have an average mark for both third year Actuarial Science and third year Mathematical Statistics of at least 60%.
Curriculum
Students will be required to pass modules totalling at least 120 credits made up as follows:
Compulsory Actuarial Science modules (90 credits)
Actuarial Risk Management (A311)
| 12302-774 | 1 & 2 | 60 |
Actuarial Science Research Assignment | 12991-791 | 1 & 2 | 30 |
Compulsory R programming module (6 credits)
The Introduction to R Programming module (723) will commence on
1st/2nd February and will run as indicated in the R module outline
document. The module will conclude with a practical test towards the end
of February. All Actuarial Science Honours students are required to
take this module.
Introduction to R programming
| 10371-723 | 1
| 6
|
N.B.
Please note that to gain access to this module students will need to
have registered for at least the Actuarial Science Honours programme
(AS778, 120 credits) plus the r module itself the week before the module
is due to commence. See the R module outline for further information.
Elective Actuarial Science modules (at least 6 credits) may include
Communications (N211) | 10371-773 | 2
| 6
|
Capita Selecta: Actuarial Principles - A
| 14224-741 | 1 & 2
| 6 |
|
|
|
|
The Capita Selecta module, on the topic of Applied Ethics, will be
offered mainly in the first semester, concluding mid-way through the
second semester, and is recommended for all students.
Elective (non-Actuarial) modules (to a total of at least 18 credits):
In addition to the R module, modules totalling at least 18 credits
(as approved by the Head of Actuarial Science from time to time) must be
selected from topics offered in the Mathematical Statistics or
Financial Risk Management Honours programmes.
Topics available include:
Multivariate Statistical Analysis A *
| 10602-715 | 1 | 12 |
Multivariate Statistical Analysis B *
| 10603-745 | 2 | 12 |
Stochastic Simulation
| 65250-718 | 1
| 12 |
Survival Analysis
| 10636-746 | NA
| 12 |
Time Series Analysis
| 10751-747 | 1 | 12 |
Statistical Learning Theory *
| 13360-771
| 1
| 12
|
Practical Financial Modelling | 11166-736 | 1 | 6 |
Financial Mathematical Statistics (Extreme Values & Stochastic Calculus)
| 11164-732 | 2 | 12 |
Note:
- Modules denoted by * require students to complete the full Introduction to R Programming (723) module, whereas the other mathematical statistics modules only require students to have completed the compulsory portion of the module described earlier.
- Multivariate Statistical Analysis A is a pre-requisite for Multivariate Statistical Analysis B.
- Students wishing to take Financial Mathematical Statistics should ideally (although not essentially) have completed the Financial Mathematics 378 (Maths Dept.) module.
- It may be that certain of the elective modules listed above may not be available or may be offered during a different semester.
- Students may be able to include Actuarial Science undergraduate (Technical) modules. Such modules however will carry no credit towards the Honours degree.
Duration of honours programme
The standard duration of
the programme is one year. Students who are accepted into an extended
(two-year) programme will need to defer at least one of: Actuarial Risk
Management or the Research Assignment.
Students who wish
to defer additional modules, or students accepted onto a one-year
programme who wish to extend it, can arrange this when the programme
commences next year.
Students who defer Actuarial Risk
Management should note that they will not be permitted to register for
this module until they have passed (through ASSA, or been exempted from)
at least 6 of the A1&A2 examinations.
During the
first year the main goal would be to complete as many of the Foundation
and Intermediate Technical subjects as possible.
Grading and Regulations
The final honours grading will be the weighted average of the marks obtained for each module (based on module credits) as follows:
- 80% based on the actuarial science modules; and
- 20% based on the best 24 credits of non-actuarial science modules.
Students are expected to pass (i.e. with a mark of not less than 50%) modules totalling at least 120 credits (as outlined above).
N.B. There are no rewrite/supplementary examinations for students failing modules.
Credit may be awarded for at most one (narrowly) failed module (to a maximum of 60 credits) in respect of equivalent subjects which students subsequently pass through the Actuarial Society of South Africa.
The calculation of the final mark for each module may differ by module, but for the Actuarial Science modules it will typically be an average of the class mark (based on all relevant tests and assignments) and examination mark. For the Actuarial Science modules students will be required to have a class mark of at least 45% (based on class tests and possibly other hand-in work as specified) in order to be given entry to the final examination for that module.
Postgraduate Diploma in Actuarial Science
43214 – 788 (120) Post Graduate Diploma in Actuarial Science
Click here for further description of this programm that can also be downloaded and printed.
Admission
For admission to the Postgraduate Diploma programme applicants should have:
- A BCom (Actuarial Science) or equivalent degree with Actuarial Science and Mathematical Statistics as majors, and Mathematics to at least second year level; and
- Exemptions from (or passes in the profession's examinations for) all eight of the Foundation and Intermediate Technical examinations of the Actuarial Society of South Africa (or equivalent examinations of the Institute and Faculty of Actuaries).
The Diploma will be best suited to students who have completed an Honours degree in Actuarial Science and who wish to study further towards an actuarial qualification but who do not want, at this stage, to undertake a Master's degree (which has a significant research component).
Curriculum
A student will be required to pass modules totalling at least 120 credits selected from the Core Applications, Specialist Technical and Specialist Applications subjects of ASSA or the Institute and Faculty of Actuaries (from those which the university may offer from time to time).
The following modules may be available:
Actuarial Risk Management (A311) | 12302-774 | 1 & 2 | 60
|
Health and Care Technical (F101) | 10368-811 | 1
| 45
|
Life Insurance Technical (F102) | 10372-812 | 1 | 45
|
General Insurance Technical (F103) | 10360-843 | 2 | 45
|
Pensions Technical (F104) | 10376-814 | 1
| 45
|
Finance and Investment Technical (F105) | 10364-845 | 2
| 45
|
Capita Selecta: Actuarial Appications A
| 13697-811
| 1 | 60 |
Capita Selecta: Actuarial Applications B
| 13699-841
| 2
| 60
|
Modules totalling up to 30 credits (as approved
by the Head of Actuarial Science from time to time) may be selected from topics
offered in the Mathematical Statistics or Financial Risk Management
postgraduate programmes.
Note:
- F101, F104 and F105 will be hosted by the University of Cape Town.
- In certain circumstances students may include Actuarial Science Honours modules. Such modules however will carry no credit towards the Diploma.
Grading and Regulations
The final grade will be a weighted average of the marks obtained for each module (with weights based on the module credits as given above).
Students are expected to pass (i.e. with a mark of not less than 50%) modules totalling at least 120 credits (as outlined above).
N.B. There are no rewrite/supplementary examinations for students failing modules.
Credit may be awarded for at most one module (to a maximum of 60 credits) in respect of an equivalent subject which students have passed through the Actuarial Society of South Africa or Institute and Faculty of Actuaries.
The calculation of the final mark for each module may differ by module, but is typically the average of the class mark (based on all relevant tests and assignments) and examination mark.
Students will be required to have a class mark of at least 45% for a module (based on class tests and possibly other hand-in work as specified) in order to be given entry to the final examination for that module
Masters Programmes in Actuarial Science
43214 – 879 (180) MCom (Actuarial Science) – thesis option
43214 – 889 (180) MCom (Actuarial Science) – coursework option
Click here for more information regarding the programme that can also be downloaded and printed.
Admission
For admission to the Master's programme applicants should have:
- An Honours degree in Actuarial Science or Mathematical Statistics;
- Passes in university modules equivalent to all eight of the Foundation and Intermediate Technical subjects of the Actuarial Society of South Africa (or equivalent subjects of the Institute and Faculty of Actuaries); and
- Exemptions from (or passes in the profession's examinations for):
- at least six of the seven Foundation and Intermediate Technical examinations of the Actuarial Society of South Africa (or equivalent examinations of the Institute and Faculty of Actuaries), and
- the Actuarial Risk Management (A311) examination or one of the Fellowship Principles examinations of the Actuarial Society of South Africa (or one of the equivalent examinations of the Institute and Faculty of Actuaries).
Curriculum
Two programmes are available:
- Coursework option (Actuarial Science 889); and
- Thesis option (Actuarial Science 879).
A student will be required to pass modules totalling at least 180 credits as follows:
ule:
Health and Care Technical (F101) | 10368-811 | 1
| 45
|
Life Insurance Technical (F102)
| 10372-812 | 1 | 45
|
General Insurance (F103) | 10360-843 | 2 | 45
|
Pensions Technical (F104) | 10376-814 | 1
| 45
|
Finance and Investment Technical (F105) | 10364-845 | 2
| 45
|
Capita Selecta: Actuarial Applications A
| 13697-811
| 1
| 60
|
Capita Selecta: Actuarial Applications B
| 13699-841 | 2
| 60
|
Modules up to 30 credits (as approved by the Head of Actuarial Science from time to time) may be selected from topics offered in the Mathematical Statistics or Financial Risk Management postgraduate programmes.
Research modules:
Actuarial Science Research Project
| 11170-895
| 1&2
| 60
|
Actuarial Science Thesis
| 11171-896 | 1&2 | 120
|
Note:
- F101, F104 and F105 will be hosted by the University of Cape Town.
- In certain circumstances students may include Actuarial Science
Honours modules. Such modules however will carry no credit towards the
Master’s degree.
Grading and Regulations
The final grade will be a weighted average of the marks obtained for each module (with weights based on the module credits as given above).
Students are expected to pass (i.e. with a mark of not less than 50%) modules totalling at least 180 credits (as outlined above).
N.B. There are no rewrite/supplementary examinations for students failing modules.
Credit may be awarded for at most one module (to a maximum of 60 credits) in respect of an equivalent subject which students have passed through the Actuarial Society of South Africa or Institute and Faculty of Actuaries.
The calculation of the final mark for each module may differ by module, but is typically the average of the class mark (based on all relevant tests and assignments) and examination mark.
Students will be required to have a class mark of at least 45% for a module (based on class tests and possibly other hand-in work as specified) in order to be given entry to the final examination for that modules.
Further Information
Exemptions from the Professional Examinations
The university has an Exemption Recognition Agreement with the Actuarial Society of South Africa in respect of:
- All of the Foundation and Intermediate Technical subjects, A111-113 & A211-214 (Bachelor’s degree);
- Foundation Actuarial Professional Practice (N111) (Bachelor’s degree);
- Communications (N211) (Honours degree);
- Actuarial Risk Management (A311) (Honours degree);
- Fellowship Principles subjects, F101-105 (Master’s degree / PGDip).
On completion of the university degree an appropriate
exemption recommendation letter will be prepared for each student. At Bachelors
and Honours level it is necessary for the student to complete the degree before
such a letter can be produced. For F1 level subjects it is not necessary to
complete the university degree/diploma in order to obtain an exem
on.
The Registrar, University of Stellenbosch, Private Bag X1, matieland, 7602.
Further
information on the registration process can be obtained from Ms. Lauren Daniels, laurend@sun.ac.za or on tel: +27 21 808-4837.
Also see the postgraduate studies webpage: http://www.sun.ac.za/english/pgstudies
Further enquiries
For further information please e-mail the Postgraduate Programme Convenor on actuarial@sun.ac.za
Prof. G Slattery
Head of Actuarial Science
Dept. of Statistics and Actuarial Science
February 2023