Department of Actuarial Science 2019 Registration Information (Version 1) Please take note of the following important information for 2019 that may affect your study plan. Following a review of our programme as a result of changes in the Actuarial Society syllabus and some Higher Education requirements, we have made changes to our programme. We have elected to implement these changes with immediate effect as we believe that the changes are to the benefit of our students. In 2 nd year, we are doing an introduction to data science and in 3 rd year, students benefit from a reduced credit load. Only eight 3 rd year subjects are now required rather than the nine under the old programme. If you want to graduate under the rules of the old programme or if you have any other concerns, please discuss them with Marli Venter or Corlia Laue as soon as possible. You can make an appointment by sending an email to Lee-Ann Neels who will schedule a time. 31 July 20 Please note that while we have checked the information reflected in this document, it is not a replacement for the yearbook. The correct official information is reflected in the yearbook and the yearbook will always apply.
BSc Actuarial and Financial Mathematics First Year First year students should register for all the following modules. All modules are compulsory and there are no elective choices in first year. Students who do not qualify for AIM 102 must register for AIM 111 and AIM 1. First semester EKN 110 Economics 110 10 LST 110 Language and Study Skills 110 6 FBS 1 Financial Management 1 10 IAS 111 Actuarial and Financial Mathematics in practice 111 6 UPO 102 Academic orientation 102 0 WST 111 Mathematical Statistics 111 16 WTW 114 Calculus 114 16 WTW 152 Mathematical modelling 8 Total credits for compulsory modules 72 Second semester AIM 102 Academic Information Management 102 6 EKN 0 Economics 0 10 FBS 2 Financial Management 2 10 IAS 1 Actuarial and Financial Mathematics in practice 1 6 WST 1 Mathematical statistics 1 16 WTW 3 Numerical analysis 3 8 WTW 4 Mathematics 4 16 Total credits for compulsory modules 72
BSc Actuarial and Financial Mathematics Second Year Second year students should register for the modules set out below. Note that all modules are compulsory with the exception of the second semester where you should select either IAS 282 or WTW 221. You have a choice between INF 214 (as before) and WST 2 (new). We recommend that you take WST 2, but it is up to you. Either subject will be recognised for your degree, but you will not get credit for both. If you have not yet passed all your first year modules, you should discuss your study plan with the department. When preparing an updated study plan, you should consider the following information as well as the combinations of subjects (set out below) required to qualify for exemption from the Actuarial Society examinations. 1. If you failed COS 132, you can repeat COS 132 or alternatively, you can register for WTW 152 and check your credits - see point 4. 2. If you failed EKN 113 and/or EKN 3, you need to register for EKN 110 and/or EKN 0 and check your credits - see point 4. 3. If you failed any other first year module(s), you need to repeat the same module(s). 4. Note that the credits for WTW 152 are less than for COS 132 and the credits for EKN 110 and EKN 0 are less than for EKN 113 and EKN 3. You need 144 credits at first year level. You may therefore also have to do IAS 111 and possibly IAS 1 as well as to ensure that you have enough first year credits. Make sure that you check this.
First semester IAS 211 Actuarial mathematics 211 Required: IAS 111, IAS 1, WTW114, WTW3, WTW4, WTW 152, WST111 & WST1 For students doing IAS 211 in 2019, IAS 111, IAS 1 and WTW 152 do not apply. WST 211 Mathematical statistics 211 Required: WST111, WST1, WTW114GS & WTW4GS 24 WST 2 OR INF 214 Applications in data science 2 Required: WST 111, WST 1, WTW 114GS & WTW4GS Informatics 214 Required: AIM102 or AIM111 & AIM1 OR 14 WTW 211 Linear algebra 211 Required: WTW4 WTW 2 Calculus 2 Required: WTW114 & WTW4 Total credits for compulsory modules 72 (or 74) Second semester IAS 221 Actuarial mathematics 221 Required: IAS211 WST 221 Mathematical statistics 221 Required: WST211GS WTW 220 Analysis 220 Required: WTW114, WTW4, WTW 211, WTW 2 WTW 264 Differential equations 264 Required: WTW114 & WTW4 24 Total credits for compulsory modules 60 IAS 282 Financial Mathematics 282 Required: IAS 211 WTW 221 Linear Algebra 221 Required: WTW211, WTW 2 Total credits for elective modules
BSc Actuarial and Financial Mathematics Third Year Third year students should register for the six core modules set out below and for two elective modules in terms of the following options. 1. Actuarial Science option: IAS 353, IAS 382 2. Financial Mathematics option: WTW310 and one the following modules WTW 320, WTW 382, WTW 383, WTW 386 Students who want to complete the BSc (Actuarial and Financial Mathematics) degree, but are considering an honours degree in Mathematics, should in addition to the Financial Mathematics option take the module WTW381 for non-degree purposes. Students who want to complete the BSc (Actuarial and Financial Mathematics) degree, but are considering an honours degree in Applied Mathematics, should take the Financial Mathematics option with any two of the modules WTW 382, WTW 383, WTW386, with one of them for non-degree purposes. Students who want to complete the BSc (Actuarial and Financial Mathematics) degree, but are considering an honours degree in Mathematical Statistics, should take in addition to either option STK 353 for non-degree purposes. Students who would like to continue with any of the alternative abovementioned honours degrees without taking additional credits can switch to the respective undergraduate programme during their third year. Students should note that they still qualify for exemptions from the Actuarial Society subjects if they switch to one of the alternative degrees. If you have not yet passed all your first and second year modules, you should discuss your study plan with the department. When preparing an updated study plan, you should consider the following information as well as the combinations of subjects (set out below) required to qualify for exemption from the Actuarial Society examinations. First semester core modules Code Name Credit WST 311 Multivariate analysis 311 Required: WST211, WST221, WTW211GS & WTW2GS WST 3 Stochastic Processes 3 Required: WST211, WST221, WTW211GS & WTW2GS WTW 354 Financial engineering 354 Required: WST211, WTW211 & WTW2 Total credits for compulsory modules 54
Second semester core modules Code Name Credit WST 321 Time series analysis 321 Required: WST211, WST221, WTW211GS & WTW2GS WST 322 Actuarial Statistics 322 Required: WST211, WST221, WTW211GS & WTW2GS WTW 364 Financial engineering 364 Required: WST211, WTW4, WTW2 & WTW264 Total credits for compulsory modules 54 Elective modules Code Name Credit Semester IAS 353 Contingencies 353 Required: IAS 382, WST 3 For students doing IAS 353 in 2019 only: Students who meet the 60% for IAS 221 requirement and for some or other reason do not meet the IAS 382 and WST 3 requirements may apply for a waiver of prerequisites. IAS 382 Survival models 382 Required: IAS 221 60%, IAS 282 60%, WST 211, WST 221, WTW 211, WTW 2 For students doing IAS 382 in 2019 only: students who do not meet the 60% for IAS 282, but who meet all the other requirements may apply for a waiver of prerequisites. WTW 310 Analysis 310 Required: WTW 220 WTW 320 Complex Analysis 320 Required: WTW2, WTW220 WTW 382 Dynamical Systems 382 Required: WTW2, WTW264 WTW 383 Numerical Analysis 383 Required: WTW114, WTW 3, WTW4, WTW 211 2 1 1 2 1 2 WTW 386 Partial differential equations 386 Required: WTW 248 and WTW 264 Total credits for elective modules 36
BSc Extended programme Mathematical Sciences Second Year Students who are considering BSc(Actuarial and Financial Mathematics) and who meet the requirements should register for all the following modules. First semester EKN 110 Economics 110 10 FBS 1 Financial Management 1 Required: At least 6 (70-79%) in Mathematics in the Grade examination or WTW 133 (60%), WTW 143 (60%), WST 133 (60%) and WST 143 (60%) IAS 111 Actuarial and Financial Mathematics in practice 111 Required: At least 6 (70-79%) in Mathematics in the Grade examination or WTW 133 (60%), WTW 143 (60%), WST 133 (60%) and WST 143 (60%) WST 153 Mathematical Statistics 153 WST 133 and WST143 and WTW 143. Must be taken concurrently with WTW 153 10 6 8 WTW 152 Mathematical modelling 8 WTW 153 Calculus 153 Required: WTW 143 8 Total credits for compulsory modules 50 Second semester EKN 0 Economics 0 Required: EKN 110 GS FBS 2 Financial Management 2 FBS 1 IAS 1 Actuarial and Financial Mathematics in practice 1 Required: WTW 153, WST 153, IAS 111 WST 1 Mathematical statistics 1 WST 133, WST 143 and WST 153 10 10 6 16 WTW 3 Numerical analysis 3 8 WTW 4 Calculus and Algebra 4 16 Total credits for compulsory modules 66
Exemptions from Actuarial Society subjects for 20 Please note that we are in the process of submitting our programme to the Actuarial Society to confirm, the future exemption arrangements. We will advise on the final arrangements once this has been confirmed. For A100 level subjects, students must achieve at least 55% in each of the examinations and an average of 60% in all the examinations for the subjects that make up the exemption. For A200 level subjects, exemption subjects must be taken in the same year, or in consecutive years if second and third year modules count towards an exemption. The exemption mark is determined by an independent external examiner. Note that only the first examination opportunity is taken into account for exemption purposes. Sick, supplementary and/or any other special exams are not considered. Actuarial Society Subject Corresponding UP Subject(s) A101 WST 111, WST 1, WST 211 and WST 221 A102 EKN 113 and EKN 3 A103 FBS 1 and FBS 2 A201 IAS 211 and IAS 282 A202 WST 3 and IAS 382 A203 IAS 221 and IAS 353 A204 WST 311, WST 321 and WST322 A205 WTW354 and WTW364