Actuarial Science
Study the application of analytical, statistical and mathematical skills to financial and business problems.
Overview
A Wits Actuarial Science degree gives you a solid foundation for the internationally recognised actuarial examination. Over 750 graduates have qualified as Fellow Actuaries since the programme began in 1983.
An actuary is a professional who applies analytical, statistical and mathematical skills to financial and business problems. This is especially valuable when facing problems involving uncertain future events or financial risks in insurance, retirement, investments and risk management environments.
The School of Statistics and Actuarial Sciences offers the largest number of accredited courses of any single university in Africa.
Career Opportunities
- Asset Management
- Banking
- Consulting
- Enterprise Risk Management
- General Insurance
- General Management
- Health Care
- Life Insurance
- Research and Planning
- Retirement Funding
Curriculum
First-year
Actuarial Science I
AND
Mathematical Statistics I
AND
Mathematics I (Major):
- Algebra I
- Calculus I
AND
- Economic Theory IA Microeconomics
- Economic Theory IB Macroeconomics
AND
- Business Accounting I
Second-year
Actuarial Science II
AND
Mathematical Statistics II
AND
Mathematics II:
- Abstract Mathematics
- Differential Equations
- Basic Analysis
- Linear Algebra
- Multivariable Calculus
- Advanced Analysis
Third-year
Actuarial Science III:
- Computers and Communications for Actuaries
- Life Contingencies
- Actuarial Economics
- Actuarial Reserving Techniques
AND
Mathematical Statistics III:
- Multivariate Data Analytics
- Risk Theory
- Statistical Elements of Machine Learning
- Stochastic Processes
- Survival Analysis
- Time Series
Entry Requirements
APS 42+
English Home Language OR First Additional Language Level 7
Mathematics Level 7
Physical Science Level 7
Wait-listing
Applicants with 40-41 points and English Level 6, Mathematics Level 7 and Physical Sciences Level 7
may be wait-listed, subject to place availability.
National Benchmark Test
All Faculty of Science applicants must write the National Benchmark Tests (NBT) before being considered for admission. There are two tests. The Academic and Quantitative Literacy Test and the Mathematics Test. Your test results are used in addition to your Grade 12 results to identify students who may need additional support during the course of their studies.
University Application Process
- The Student Enrolment Centre at Wits handles all student applications.
- Please click here for an overview of the application process.
- Check the admission requirements for your degree. Check if any additional selection requirements apply.
- Submit your application, required documentation and application fee before the closing date.
- Once you have applied, an admissions consultant will be assigned to your application.
- Applicants can monitor the progress of their applications via the Self Service Portal.
- If you are an international applicant and/or have a foreign qualification, please click here.
Compliance with the minimum requirements does not guarantee a place at the University. The University has a specific number of places for first year undergraduates, approved by the Department of Higher Education and Training. Final selection is made subject to the availability of places, academic results and other entry requirements where applicable.
University Fees and Funding
Click here to see the current average tuition fees for the first year of study. The Fees website also provides information about the payment of fees and closing dates for fees payments. Once you have applied you will be able to access the fees estimator on the student self-service portal.
The Financial Aid and Scholarships Office provides information on student funding and scholarships. University-funded Scholarships include Vice-Chancellor's Scholarships, University Entrance Scholarships, Equality Scholarships, Sports Scholarships and National Olympiad winner awards. For information about NSFAS funding, please visit the NSFAS website. External bursaries portal: The Bursaries South Africa website provides a comprehensive list of bursaries in South Africa.