Bachelor of Commerce in Actuarial Science

To provide students with core knowledge and skills about various basic and more specialised aspects of the quantitative sciences (including statistics, logistics, actuarial science, mathematics), thus equipping them for a career in quantitative areas of the private and public commercial sectors where their participation will promote sustainable growth and development, and maximise prosperity in all sectors of the economy and society.

To develop competent leaders in the various fields of quantitative commerce, possessing applied fundamental and generic cross-functional knowledge and skills, enabling them to steer sustainable development, growth and prosperity in the most appropriate direction.

To provide students who would like to proceed to postgraduate studies with a sound academic base from which to do so.

Recognition of Prior Learning (RPL)

Access may be gained to the qualification through the Recognition of Prior Learning (RPL).

Entry Requirements

• Senior Certificate, Level 4 with matriculation exemption.
• National Senior Certificate, Level 4 granting access to Bachelor's Degree studies or equivalent qualifications.

Students completing one of the programmes leading to the qualification will

1. Demonstrated the ability to read and interpret quantitative literature, implying the ability for independent learning from source material.
2. Manifested understanding of the use of scientific methodology in the acquisition of quantitative data, information and knowledge.
3. Demonstrated the ability to analyse, organise and critically evaluate relevant information.
4. Demonstrated the ability to identify and solve diverse problems in a critical and creative way by applying appropriate quantitative methods.
5. Demonstrated the ability to work effectively with others as a member of a team in the private, developmental and public sectors.
6. Demonstrated the ability to organise and manage personal activities responsibly and effectively.
7. Demonstrated the ability to communicate effectively, using graphical, statistical and language skills in the modes of oral and written presentation.
8. Demonstrated the ability to use quantitative based science and technology effectively and critically, showing responsibility towards the environment and the interests of others.
9. Demonstrated understanding of the world as a set of related systems by recognising important common characteristics of problems in diverse contexts.
10. Demonstrated understanding of and ability to apply a range of quantitative approaches required in the different specific programmes leading up to this qualification.
11. Demonstrated the ability to apply the knowledge of and practical skills in quantitative methodology to address theoretical and practical problems in diverse areas of commerce.
12. Demonstrated the ability to learn and apply appropriate lessons from these experiences in order to solve problems in such a way that sustainable developmental outcomes occur.
13. Demonstrated understanding of the mathematical and statistical bases underlying life insurance, pensions, general insurance and investments, and mastered techniques for applying the basic theory in these fields in practical problems (For the programme in Actuarial Science).
14. Demonstrated the ability to utilise quantitative techniques to analyse and evaluate the financial systems of an organisation (For the programme in Financial Analysis).
15. Demonstrated understanding of the mathematical and statistical theory underlying investment instruments, and the application of this theory in analysing and evaluating investment plans. (For the programme in Institutional Investments).
16. Demonstrated the ability to utilise quantitative decision making tools in a business context. (For the programme in Quantitative Decision Making).
17. Demonstrated the ability to analyse the supply chain of an organisation. (For the programme in Logistics Analysis).
18. Demonstrated understanding of the prevalence and importance of variation in real world phenomena, and mastered different mathematical and statistical techniques for modelling such phenomena. (For the programme in Mathematics).

1. The assessment used for this qualification ensures that the purpose of the qualification is achieved.
2. A range of formative and summative assessment methods such as simulations, computer assignments, workplace assessments, written and oral presentations, tests and examinations are used.
3. The required range of modalities is used integratively to assess whether the specified outcomes have been achieved.
4. From the assessment used meets the standard and level of achievement for National Qualifications Framework (NQF) Levels 5 and 6.

Integrated Assessment.

The nature of the quantitative sciences are such that successful study at any particular level requires the student to draw on the knowledge and expertise gathered in previous years. In this sense the assessments that are devised for the final year of study are also integrated assessments for the entire study. Assessment takes place by way of a variety of procedures, including cross-disciplinary individual and group assignments, simulations, compute assignments, workplace assessments, written and oral presentations, tests and examinations.