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 THAT HAS PASSED THE END DATE: 

Master of Commerce: Actuarial Science 
SAQA QUAL ID QUALIFICATION TITLE
4805  Master of Commerce: Actuarial Science 
ORIGINATOR
University of Pretoria 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Master's Degree  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  144  Level 8 and above  NQF Level 09  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Passed the End Date -
Status was "Reregistered" 		 SAQA 091/21  2021-07-01  2023-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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.  

This qualification does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
1. To provide qualifiers with postgraduate level knowledge, specific skills and applied competence in actuarial science that provide opportunities for continued personal intellectual growth, gainful economic activity and rewarding contributions to society.
2. To provide South Africa with significant numbers of graduates in actuarial science in order to ensure that the local leadership base of the innovative and knowledge based economic and scholarly activity is widened. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Matriculation certificate
Honours degree: B Com (Hons) Actuarial Science 

RECOGNISE PREVIOUS LEARNING? 
N 

EXIT LEVEL OUTCOMES 
M Com (Actuarial Science)

Learning outcomes:
The graduate will have expert analytical proficiency for the practice of actuarial science

Critical cross-field outcomes:
This qualification is directed towards empowering the student on a Magister level to:
1. Identify and solve problems of mathematical nature in actuarial science and in real life situations through critical and creative thinking.
2. Work effectively with others as a member of a team, group, organisation, community through joint projects and discussions.
3. Organise and manage himself and his activities responsibly and effectively.
4. Collect, analyse, organise and interpret empirical information scientifically.
5. Communicate effectively through visual, mathematical and language skills.
6. Use insurance and risk management effectively and critically in such a way that people's health and the environment is preserved and improved.
7. Demonstrate and understand the multidisciplinary nature of mathematics, insurance and risk management, thereby also recognising that problem solving contexts do not exist in isolation.

This qualification endeavours to contribute to
8. The full personal development of each learner and the social and economic development of the society at large, by making it the underlying intention of any programme of learning to make an individual aware of the importance of
  • critically 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 through innovative application of mathematical, insurance and risk management principles 
    		•

    ASSOCIATED ASSESSMENT CRITERIA 
    A M Com (Actuarial Science) graduate must be able to identify, assess, formulate and solve insurance and risk management problems innovatively from first principles of mathematics, statistics and actuarial science.

    Integrated assessment:
    Other:
    Thesis 

    ARTICULATION OPTIONS 
    None 

    MODERATION OPTIONS 
    Use of external assessors for each of the learning fields 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    Qualifications required:
    FIA/FFA or Doctorate in Mathematics or Risk Management 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2006; 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. University of Pretoria 


    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.