Actuarial Science - Wits University

Overview

A Wits Actuarial Science degree gives you a solid foundation for the internationally recognised actuarial examination. Over 480 graduates have qualified as 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 Mathematics 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 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.

Wits Plus applicants: terms of payment are in accordance with University regulations, and students are not eligible for University bursaries/NSFAS or residential accommodation.