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SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Postgraduate Diploma in Actuarial Science 
SAQA QUAL ID QUALIFICATION TITLE
88223  Postgraduate Diploma in Actuarial Science 
ORIGINATOR
Stellenbosch University 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Postgraduate Diploma  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Level 7  NQF Level 08  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered-data under construction  EXCO 0324/24  2024-07-01  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2031-06-30  

Registered-data under construction

The qualification content is currently being updated for the qualifications with the status “Registered-data under construction” or showing “DETAILS UNDER CONSTRUCTION” to ensure compliance with SAQA’S Policy and Criteria for the registration of qualifications and part-qualifications on the National Qualifications Framework (NQF) (As amended, 2022). These qualifications are re-registered until 30 June 2027 and can legitimately be offered by the institutions to which they are registered.

 

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:

The programme will assist actuarial science graduates in their endeavours to qualify as actuaries. Owing to the public interest role served by the actuarial profession the production of actuaries will be of benefit to the broader community and country as a whole - a specifically stated aspect of the US mission and vision.

Rationale:

The programme has been designed by selecting modules from the existing Honours and Master's programmes in such a way that it produces an appropriate educational package for an actuarial student approaching qualification as an actuary.

The vast majority of actuarial science graduates are very focused on completing their qualification as an actuary and are keen to undertake further study in this direction. The new Postgraduate Diploma is intended to meet this need. It may also encourage successful students to enrol for a Master's programme after completion of the Postgraduate Diploma and the actuarial qualification.

The production of actuaries is of benefit to the financial services sector, the broader community and the country as a whole. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
It is assumed that learners have achieved the equivalent of NQF level 7 in a formal education environment.

Recognition of Prior Learning:

The University of Stellenbosch has a comprehensive policy for the Recognition of Prior Learning.

The University considers students applying for Recognition of Prior Learning in terms of the "Policy for the Assessment and Recognition of Prior Learning", which provide clear guidelines on the issue.

Access to the Qualification:

A Bachelor's Degree with majors in Actuarial Science and Mathematical Statistics and Mathematics to at least second year level, and Exemptions from (or passes in) the "Core Technical" examinations CT1-CT8 of the Faculty and Institute of Actuaries. 

RECOGNISE PREVIOUS LEARNING? 
Y 

QUALIFICATION RULES 
Electives, Up to 70 Credits at NQF Level 7, and 120 at NQF Level 8.

Exit level of programme: 8.

Duration (years): 1 year full-time or 2 years part-time.

Total credits: 120. 

EXIT LEVEL OUTCOMES 
1. The successful student can identify, either independently or as a member of a team, problems and solutions.
2. The successful student can participate in co-operative and group learning.
3. The successful student can communicate and handle information.
4. The successful student has an holistic world view and are aware of social issues.
5. The successful student can self-organise and manage science and technology applications.

Modules for all Exit Level Outcomes:
  • Core Applications Concepts.
  • Health and Care.
  • Life Insurance.
  • General Insurance.
  • Pensions.
  • Finance and Investments A.
  • Finance and Investments B.
  • Specialist Applications.

    Critical Cross-Field Outcomes:
  • Identifying and solving problems in which responses display that responsible decisions using critical and creative thinking have been made".
  • Working with others as a member of a team, group, organisation and community.
  • Organising and managing oneself and one's activities responsibly and effectively.
  • Collecting, analysing, organising and critically evaluating information.
  • Communicating effectively using visual, mathematical and/or language skills in the modes of oral and/or written persuasion.
  • Using science and technology effectively and critically, showing responsibility towards the environment and health of others.
  • Demonstrating an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation.
  • Contributing to the full personal development of each learner and the social and economic development of society at large, by making it the underlying intention of any programme of learning to make an individual aware of the importance of:
    > Reflecting on and exploring a variety of strategies to learn more effectively.
    > Participating as responsible citizens in the life of local, national and global communities.
    > Being culturally and aesthetically sensitive across a range of social contexts.
    > Exploring education and career opportunities.
    > Developing entrepreneurial opportunities. 
    		•

    ASSOCIATED ASSESSMENT CRITERIA 
    Integrated Assessment:

    The programme is one involving contact teaching and tutorials. The philosophy of our programme is that student learning is enhanced by encouraging students to study "actively" and for them to participate in class and tutorial discussions.

    Regular assessment and feedback will be provided to students.

    Students will be encouraged to carry out self-evaluations in order that they become aware of any potential areas of weakness. 

    INTERNATIONAL COMPARABILITY 
    A comparable Postgraduate Diploma (Actuarial Science) course is offered by the University of Leicester in the UK and a similar course is also being offered at the University of Melbourne in Australia. 

    ARTICULATION OPTIONS 
    The programme may be entered after the completion of a Bachelor's, or Honours, Degree in Actuarial Science.

    The programme offers students a selection of (non-research) modules currently offered in Honours or Master's programmes.

    Students successfully completing the programme may elect to convert to a Master's programme and complete the required modules, including a research thesis/dissertation, necessary for the award of the Master's Degree 

    MODERATION OPTIONS 
    The University of Stellenbosch has a system of external moderation of assessment as well as external peer review and evaluation of departments. One of the aspects of the system is an evaluation of the standards and assessment practices of the department.

    All modules in this programme will have internal assessment, and internal and external moderation. Since contact teaching and learning is the primary mode of delivery for Stellenbosch University, as well as for this programme, the institutional "Assessment policy" and "Regulations for internal and external moderation and the processing of results" apply directly and are appropriate. 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2009; 2012; 2015. 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Stellenbosch University 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.