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Exemptions from Professional Examinations

The Institute of Actuaries (London), Faculty of Actuaries(Edinburgh) (IFA) and Actuarial Society of South Africa (ASSA) have officiallyrecognised for exemption purposes the University of Cape Town's degrees inActuarial Science. Both the IFA and ASSA have included in their publishedregulations certain provisions governing the exemptions which they are preparedto grant from their respective examinations.

Although recommendations for exemptions will be at thediscretion of the external examiners, it is anticipated that a student whograduates with a degree in Actuarial Science from the University of Cape Townand obtains an appropriate standard (currently about 60%) for the appropriatecourses will be able to obtain exemptions from all of Subjects CT1-CT8 and CA1of the IFA and all of Subjects of the ASSA.

University courses required for exemption purposes

Subject

Topic

University Equivalent

CT1(A201)

Financial Mathematics

BUS2016H Actuarial Science I: Financial Mathematics

CT2 (A103)

Finance and Financial Reporting

ACC1006F/S Financial Accounting
ACC2011S Financial Reporting 1
FTX20455 Corporate Financial Management I

CT3 (A101)

Probability and Mathematical Statistics

STA2004F
STA2005S
STA1006S

CT4 (A202)

Models

BUS3018F Actuarial Science II: Models

CT5 (A203)

Contingencies

BUS3024S Actuarial Science II: Contingencies

CT6 (A204)

Statistical Methods

STA3041F
STA3043S

CT7 (A102)

Economics

ECO1010F Microeconomics
ECO1011S Macroeconomics

CT8 (A205)

Financial Economics

BUS4028F Actuarial Science III: Financial Economics

CA1 (A301)

Assets, Liabilities, Asset-liability Management

BUS4027W Actuarial Science III: Actuarial Risk Management

A302

Communications

BUS4034S Professional Communication: Actuarial Science


Postgraduate

ST1 (F101)

Health and Care

BUS5024F

ST2 (F102)

Life Insurance

BUS5018Z

ST3 (F103)

General Insurance

BUS5040S

ST4 (F104)

Pensions and other Benefits

BUS5019Z

ST5 (F105)

Specialist Finance & Investment A

BUS5035S