Bachelor of Commerce Honours in Actuarial Science

Purpose

The qualfication is interwoven with the Postgraduate Diploma in Management (Actuarial Science Conversion). The qualification is designed to provide the opportunity for intensive study in actuarial science. It will include training in concepts and research methods designed to equip the learner with the skills necessary either for employment in public or private sector organisations and to further professional qualification. It will assist learners in developing critical and analytical skills and in dealing with complex issues logically and lucidly. The qualification will prepare learners for further study, locally or abroad, at Masters level in a related subject area.

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 Requirement

• National Senior Certificate, NQF Level 4 granting access to Bachelor Studies.

(a)

(i) Understand and manipulate qualitative and quantitative data within an area of specialisation;

(ii) Design and conduct research in his or her area of specialisation;

(iii) Produce academic papers that reflect an ability to interrogate the professional literature and engage in critical debate;

(iv) Find information of professional relevance efficiently and independently;

(v) Use information-technology efficiently and independently;

(vi) Embark on Masters level research study under supervision.

(b) General outcomes (contextually demonstrated general knowledge, skills and values of the qualification).

The BCom (Hons) learner is competent to

(i) Articulate an understanding of an area of specialisation at a high level of abstraction.

(ii) Independently apply discipline-based knowledge and practices to an understanding of conceptual and practical problems.

(iii) Design and conduct research utilising the methods of the discipline.

(iv) Apply the theory and research methods of the discipline to the development of research questions.

(v) Produce theoretical and research communications that draw on a range of information bases.

The BCom (Honours) learner will have

• Acquired a broad, specialist knowledge of their discipline in accordance with internationally accepted norms for an Honours Degree.
• Demonstrated a capacity for studying aspects of the discipline in depth with indicate the ability to undertake further post-graduate study in the discipline.
• Master relevant techniques of analysis, research and problem solving in the discipline, which will be of special practical usefulness in future professional employment.
• Reflected on and absorbed appropriate moral values-especially the virtues of intellectual honesty and intellectual humility - relating to the acquisition, dissemination and application of knowledge with special reference to the world of commerce.

(c) Specific Outcomes, including professional outcomes, contextually demonstrated).

The Honours Actuarial Science learner is able to

• Formulate a sophisticated argument drawing on appropriate theory and research.
• Critically analyse the literature in the discipline.
• Produce critiques of actuarial science research.
• Solve complex actuarial science problems involving a high degree of technical competence and/or an understanding of linkages to cognate disciplines.
• Apply the principles of actuarial planning and control to the appraisal of investments, and to the selection and management of investments appropriate to the needs of investors.

The following associated assessment criteria apply across all Exit Level Outcomes

• Demonstrate knowledge of the most important recent findings and discoveries in the discipline they are studying.
• Demonstrate an understanding of the principal academic issues and controversies being debated by academics in their field of study.
• Demonstrate appropriate levels of technical competence in the application of quantitative and computer-assisted problem solving.
• Read and discuss some of the important articles that appear in the relevant academic journals.
• Conduct a literature search and construct a catalogue rof the principal scholarly works relating to a particular subject matter.
• Apply their specialist knowledge to real-life commercial situations in South Africa and globally.
• Participate in discussions of normative issues relevant to the conduct of research and the conduct of business.

Integrated Assessment

The integration of skills learned in Actuarial Science Honours is assessed using both examinations and the 'Honours Research Project'.

The examinations are sat on a closed book basis, generally entailing some twenty-four hours writing time. Learners are expected to be able to integrate theoretical understanding with an appreciation of practical technicalities. Inter alias, they will be expected to assimilate information relating to a particular issue and prepare a reasoned response which may include a high level of technical proficiency and manipulation of figures. A thorough understanding of the relevant conceptual issues is necessary in producing a defensible solution to the problems presented.

The research report entails a piece of supervised research at the level of a relevant refereed journal and in a form suitable for submission. A clearly defined problem is identified by the learner, leading to a proposal reviewing the literature and outlining the methodology and objectives. Upon completion and writing up of the project, assessment is based on the depth and thoroughness of the research, including adequate justification of the research problem and appropriate "embedding" in the relevant literature. Learners are expected to demonstrate a systematic and independent approach to the research problem and to present a careful in-depth analysis leading to supportable conclusions. Assessment includes consideration of style, which should be clear and concise.