Requirements

Wits Actuarial Science Requirements

Wits Actuarial Science Requirements

Actuarial science is one of the most sought-after and challenging fields in the financial world, and the University of the Witwatersrand (Wits) stands out as a leading destination in Africa for aspiring actuaries. Understanding the Wits Actuarial Science requirements is crucial for students who want to embark on this rigorous academic journey, unlock global career opportunities, and master the skills to analyze and manage risk in complex environments.

Essential Highlights

  • High academic standards: An APS of 42+ and top marks in Mathematics, English, and Physical Science are mandatory for undergraduate entry at Wits.
  • Comprehensive curriculum: The degree blends mathematics, statistics, economics, and accounting, building a strong technical foundation.
  • Pathway to international qualification: Wits offers the largest number of accredited actuarial courses in Africa.
  • Postgraduate opportunities: Honours admission demands completion of relevant undergraduate modules and exemptions from the Actuarial Society of South Africa (ASSA).
  • Vibrant career prospects: Graduates excel in fields such as asset management, insurance, banking, consulting, and more.
  • Useful resources: Detailed requirements and application guidelines available on Requirements.co.za, the official Wits page, and the Actuarial Society of South Africa (ASSA).

Table of Contents

What is Actuarial Science at Wits?
Undergraduate Entry Requirements
Undergraduate Curriculum Overview
Honours and Postgraduate Requirements
Career Pathways After Graduation
Application Process and Key Tips
Scholarships and Support Programmes
Recommended Resources & Useful Links
FAQ: Wits Actuarial Science Requirements

What is Actuarial Science at Wits?

Actuarial Science at Wits is one of Africa’s premier pathways to a globally recognized actuarial career.
An actuary uses advanced math, statistics, and financial theory to analyze uncertain future events—especially those relating to insurance, pensions, investments, and risk management. The Wits programme has produced over 750 qualified Fellow Actuaries, and its graduates are highly sought after by top employers worldwide[1].

Undergraduate Entry Requirements

Admission into the Wits Actuarial Science undergraduate programme is highly competitive.
Applicants must meet stringent academic standards to qualify for consideration:

  • APS (Admission Point Score): Minimum of 42
  • English Home Language or First Additional Language: Level 7 (80-100%)
  • Mathematics: Level 7 (80-100%)
  • Physical Science: Level 7 (80-100%)

A wait-list may apply for strong candidates who narrowly miss these criteria. However, meeting the minimum does not guarantee acceptance, as selection is based on the overall applicant pool [1].

Undergraduate Curriculum Overview

Expect a rigorous three-year programme that builds strong analytical and business acumen.
The Actuarial Science curriculum at Wits is structured as follows:

  • First Year:
    • Actuarial Science I
    • Mathematical Statistics I
    • Mathematics I (Algebra I, Calculus I)
    • Economic Theory IA (Microeconomics)
    • Economic Theory IB (Macroeconomics)
    • Business Accounting I
  • Second Year:
    • Actuarial Science II
    • Mathematical Statistics II
    • Mathematics II (Abstract Mathematics, Differential Equations, Linear Algebra, Multivariable Calculus, Advanced Analysis)
  • Third Year:
    • Actuarial Science III (Computers and Communications, Life Contingencies, Actuarial Economics, Actuarial Reserving Techniques)
    • Mathematical Statistics III (Risk Theory, Machine Learning Elements, Stochastic Processes, Survival Analysis, Time Series)

For more details, see the official Wits curriculum [1].

Honours and Postgraduate Requirements

Entry into the Honours programme is reserved for top-performing graduates.
To qualify for the Actuarial Science Honours at Wits, you must have:

  • Completed a relevant Bachelor’s degree in Actuarial Science covering all A100 and A200 ASSA subjects.
  • Obtained at least five exemptions in A100 and A200 ASSA modules.
  • Passed the university’s N211 module (or equivalent).

Additional notes:
– Candidates who completed their undergraduate studies in previous years may be required to present additional exemptions or professional exam passes.
– Admission is also subject to space, academic performance, and any further criteria set by the School.

Full details are available on the Wits postgraduate course page[2].

Career Pathways After Graduation

A Wits Actuarial Science degree opens doors to a spectrum of high-impact careers:

  • Asset management
  • Banking and financial services
  • Consulting (risk, finance, business strategy)
  • Enterprise risk management
  • General and health insurance
  • Life insurance and retirement funding
  • Research, planning, and data analytics

Graduates are also well-positioned to pursue ASSA exams and international actuarial qualifications, building careers in South Africa and abroad[1].

Application Process and Key Tips

The application is centralized, transparent, and competitive:

  • All applications are processed by the Wits Student Enrolment Centre (SEnC).
  • Submit your application online via the Wits application portal.
  • Upload supporting documents at the time of application or through the Self Service Portal.
  • Monitor application status via the Self Service Portal.
  • Final selections may occur after the close of the application cycle, reflecting the high demand for limited places.

International students should consult the dedicated section for guidance on eligibility and documentation [2].

Scholarships and Support Programmes

Numerous scholarships and support programmes are available for promising actuarial students:

  • South African Actuaries Development Programme (SAADP): Provides academic and financial support to talented students from underrepresented backgrounds who are pursuing full-time actuarial degrees. Eligibility is based on strong academic performance and commitment to the profession[5].
  • Faculty and merit scholarships: Awarded to students with excellent academic records.
  • Visit Requirements.co.za scholarships section for current information on bursaries and grants.

Recommended Resources & Useful Links

Explore these trusted sources for further details and guidance:

FAQ: Wits Actuarial Science Requirements

1. What is the minimum APS for Wits Actuarial Science?
A minimum APS of 42 is required for undergraduate applicants, with top marks in Mathematics, English, and Physical Science[1].

2. Is it possible to apply with mathematical literacy?
No. Pure Mathematics at Level 7 is mandatory for admission into the actuarial science programme at Wits[1].

3. Does meeting the minimum requirements guarantee admission?
No. The programme is highly competitive—meeting the minimum requirements makes you eligible, but acceptance is based on academic merit and available space[1][2].

4. What are the main subjects covered in the Actuarial Science degree?
The curriculum includes Actuarial Science, Mathematical Statistics, Mathematics, Economics, and Accounting, building to advanced topics such as risk theory, machine learning, and financial mathematics[1].

5. What exemptions do I need for Actuarial Science Honours at Wits?
You need a completed Bachelor’s degree covering A100 and A200 ASSA subjects, with at least five relevant exemptions and a pass in N211 (or equivalent)[2].

6. Can international students apply, and what should they know?
Yes, international students can apply. They must meet equivalent academic requirements and consult the international section for documentation and visa guidance[2].

7. Where can I find more information about bursaries or support?
Check the Requirements.co.za requirements guide and the SAADP programme for details on scholarships and mentoring opportunities[5].

For further information and application resources, visit Requirements.co.za or the official Wits information page.

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