Bachelor of Business Science in Actuarial Science

Preparation for taking up a career as an actuary or financial analyst.

Work in posts requiring sound knowledge of economic and financial analysis in a business context.

Preparation for postgraduate study at the Honours or another appropriate level.

Develop a strategy for learning.

Develop a capability for analytic thinking by bringing together concepts, theory and methods from different areas of learning in order to solve particular problems.

Collect, analyse and critically evaluate data and information.

Apply analysis and data strategically in a business context.

Develop competence in formulating mathematical models and solving them by the use of the appropriate theory and methods.

Develop skills in the use of computers for the purposes of computation and communication.

Develop an awareness of the ethical demands on a professional working as an actuary or financial analyst.

Use science and technology to collect data and process these within the ethical norms for academic research.

Communicate effectively using the full range of available technologies in both written and oral form.

Recognition of Prior Learning (RPL)

The institution conducts RPL in terms of the policy and guidelines of the institution to recognise other forms of formal, informal and non-formal learning and experience. In cases where learners do not comply with the formal admission requirements, the institution applies its RPL policy.

Entry Requirements

The minimum entry requirement for this qualification is

• Senior Certificate, NQF Level 4 with endorsement.

Or

• National Senior Certificate, NQF Level 4 granting access to Bachelor's studies.

1. Have a sound knowledge and clear understanding of the mathematical and statistical theory and principles underlying actuarial science.
2. Have a sound knowledge and clear understanding of theory and principles in the broad management areas of finance and economics.
3. Have a high level of skill in applying the principles and theories associated with 9.1 and 9.2 to problems in the areas of financial mathematics and financial economics.
4. Be capable of analytic thinking and also of bringing together concepts, theory and methods from different areas of learning in order to attack particular problems.
5. Be capable of accessing, interpreting and analysing data and information in a variety of contexts in particular, be capable of applying financial/economic data and information strategically in a business context.
6. Possess good communication and presentation skills, in both spoken and written forms, in a variety of media.
7. Possess good case study skills in a business environment.
8. Be skilled in the use of computers for computational and other purposes.
9. Have the ability to learn; in particular, the ability to understand, critically evaluate and build on the contributions of others in the chosen field.
10. Have an awareness of technology, its applications and limitations.
11. Have an awareness of the ethical demands of a professional working in a management context, and in particular in the areas of work of an actuary or financial analyst.
12. Have skills in planning and organisation and time management.
13. Be able to work in a professional team.

Examinations: to test the learner 's ability

• To understand concepts, theories and principles.
• To use critical reasoning in general in a logical and creative way.
• To apply critical reasoning to the solution of problems.
• To apply appropriate quantitative skills in the solution of problems.

Class presentations: to test the student's ability

• To communicate effectively.
• To utilise appropriate techniques/methodologies for the effective presentation of an argument.
• To analyse problems/situations in the literature critically and present the results.
• To interact with peers and work as the member of a team, where appropriate.

Assignments: to test the learner's ability

• To access, synthesise, analyse and interpret data and information.
• To think creatively and utilise critical reasoning to place data and information in context.
• To use appropriate quantitative and qualitative analytical techniques.
• To interact with peers and work as the member of a team, where appropriate.

Case study work in a business/management context

• To apply theory critically to real-world business problems.
• To apply appropriate quantitative and qualitative skills to the analysis and evaluation of data.
• To draw out of relevant conceptual and quantitative material a set of appropriate recommendations for managers.
• To assess analytical results critically, and recognise the limits of the analysis.

Integrated Assessment

Integrated assessment appropriately incorporated to ensure that the purpose of the qualification is achieved

The institution is currently reforming its assessment strategies to include the assessment of applied competence for each qualification. In the meantime, a combination of continuous assessment and traditional written examinations serve to assess the integration of all/most of the learning outcomes for each module in a qualification.

Continuous assessment: Class presentations, participation in class discussions and assignments for each module.

Final assessment: An examination for each module.