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Bachelor of Commerce (Honours)

The UCT Honours Programme in Actuarial Science is an intensive programme which is aimed at graduates who have completed either the BCom (Actuarial Science), the BSc (Actuarial Science) or the Postgraduate Diploma in Management (Actuarial Conversion Course) at UCT or an equivalent degree from a recognised university. Candidates will be required to have completed subjects corresponding to A101-A103 and A201-A204 of the Actuarial Society of South Africa curriculum (CT1-CT7 of the Institute or Faculty of Actuaries).

Successful completion of this programme could lead to exemptions from some of the examination papers which a candidate must pass in order to be admitted as a Fellow of either the Actuarial Society of South Africa or the Institute or Faculty of Actuaries in the UK (corresponding to the subjects A205, A301 and A302 in South Africa or subjects CT8, CA1 and CA3 in the UK). The current requirement to be exempted from a particular subject is that the candidate should have achieved at least 60% in the final examination of an equivalent university course.

It must be stressed however that the programme is extremely demanding, and that it is likely that only the very best students will successfully complete the programme obtaining the maximum number of exemptions. Thus before we could consider admitting anyone to the programme it is necessary that we look at a full academic transcript to determine the suitability of the applicant.

A candidate will be required to complete:

  • Actuarial Science III: Actuarial Risk Management
  • Actuarial Research Project
  • Professional Communication (Actuarial Science)
  • Actuarial Science III: Financial Economics, OR Finance Honours Selected Topics
Students would be expected to acquire or have the normal prerequisites (or equivalent thereof) for each of the above subjects (prerequisites are set out in the Commerce Faculty Handbook).
The top students may be able to complete the programme in one year while others (especially those who do not have the required prerequisites for some of the subjects) would be required to complete the programme over a two year period.