Postgraduate Diploma in Actuarial Science

Purpose

The programme will assist actuarial science graduates in their endeavours to qualify as actuaries. Owing to the public interest role served by the actuarial profession the production of actuaries will be of benefit to the broader community and country as a whole - a specifically stated aspect of the US mission and vision.

Rationale

The programme has been designed by selecting modules from the existing Honours and Master's programmes in such a way that it produces an appropriate educational package for an actuarial student approaching qualification as an actuary.

The vast majority of actuarial science graduates are very focused on completing their qualification as an actuary and are keen to undertake further study in this direction. The new Postgraduate Diploma is intended to meet this need. It may also encourage successful students to enrol for a Master's programme after completion of the Postgraduate Diploma and the actuarial qualification.

The production of actuaries is of benefit to the financial services sector, the broader community and the country as a whole.

It is assumed that learners have achieved the equivalent of NQF level 7 in a formal education environment.

Recognition of Prior Learning

The University of Stellenbosch has a comprehensive policy for the Recognition of Prior Learning.

The University considers students applying for Recognition of Prior Learning in terms of the "Policy for the Assessment and Recognition of Prior Learning", which provide clear guidelines on the issue.

Access to the Qualification

A Bachelor's Degree with majors in Actuarial Science and Mathematical Statistics and Mathematics to at least second year level, and Exemptions from (or passes in) the "Core Technical" examinations CT1-CT8 of the Faculty and Institute of Actuaries.

Electives, Up to 70 Credits at NQF Level 7, and 120 at NQF Level 8.

Exit level of programme: 8.

Duration (years): 1 year full-time or 2 years part-time.

Total credits: 120.

1. The successful student can identify, either independently or as a member of a team, problems and solutions.
2. The successful student can participate in co-operative and group learning.
3. The successful student can communicate and handle information.
4. The successful student has an holistic world view and are aware of social issues.
5. The successful student can self-organise and manage science and technology applications.

Modules for all Exit Level Outcomes

• Core Applications Concepts.
• Health and Care.
• Life Insurance.
• General Insurance.
• Pensions.
• Finance and Investments A.
• Finance and Investments B.
• Specialist Applications.

Critical Cross-Field Outcomes

• Identifying and solving problems in which responses display that responsible decisions using critical and creative thinking have been made".
• Working with others as a member of a team, group, organisation and community.
• Organising and managing oneself and one's activities responsibly and effectively.
• Collecting, analysing, organising and critically evaluating information.
• Communicating effectively using visual, mathematical and/or language skills in the modes of oral and/or written persuasion.
• Using science and technology effectively and critically, showing responsibility towards the environment and health of others.
• Demonstrating an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation.
• Contributing to the full personal development of each learner and the social and economic development of society at large, by making it the underlying intention of any programme of learning to make an individual aware of the importance of:

> Reflecting on and exploring a variety of strategies to learn more effectively.

> Participating as responsible citizens in the life of local, national and global communities.

> Being culturally and aesthetically sensitive across a range of social contexts.

> Exploring education and career opportunities.

> Developing entrepreneurial opportunities.

Integrated Assessment

The programme is one involving contact teaching and tutorials. The philosophy of our programme is that student learning is enhanced by encouraging students to study "actively" and for them to participate in class and tutorial discussions.

Regular assessment and feedback will be provided to students.

Students will be encouraged to carry out self-evaluations in order that they become aware of any potential areas of weakness.