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: 

Bachelor of Commerce Honours in Quantitative Finance 
SAQA QUAL ID QUALIFICATION TITLE
94602  Bachelor of Commerce Honours in Quantitative Finance 
ORIGINATOR
University of Johannesburg 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Honours 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  120  Not Applicable  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 purpose of the qualification is to provide learners with the required theoretical and practical training needed to understand and implement mathematical financial models. The qualification is needed for entry into professional practice or management positions in the quantitative finance services industry. The curriculum covered in the qualification provides an in-depth groundwork for further learning and specialisation within financial engineering field and advanced quantitative finance. The provision of self-reflexive, scientifically trained professionals for the South African financial services industry builds our national, intellectual and economic infrastructure.

Rationale:
The rationale for this qualification is to improve the current academic offering of the Department of Finance and Investment Management. On the Investment Management side, only a broad based Honours Degree is currently being offered. The Bachelor Commerce Finance Degree in Quantitative Finance is a specialised qualification that is currently in demand in industry due to its specialised nature.

The qualification will provide much needed quantitative skills to the market and it will create an additional opportunity for learners with mathematical backgrounds. By adding mathematics to the B Com Finance degree, it enhances the current offering to undergraduate learners building the brand of the Department, Faculty and University of Johannesburg as a whole. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Recognition of Prior Learning (RPL):
The Faculty accepts Recognition of Prior Learning (RPL) as an integral part of education and academic practice. It is acknowledged that all learning has value and the Faculty accepts the challenge to assess prior learning and award credit that is aligned to Faculty programmes to promote lifelong learning. An example of prior learning refers to work experience relevant to the quantitative finance field, such as experience on systems used in the quantitative finance industry.

The purpose of the institution's RPL policy which directs the Faculty's RPL procedure, is to recognise prior learning in order to provide for access into programmes, grant advanced placement in programmes and grant credits for modules on the principles and processes that serve as basis for faculty-specific RPL practices.

Entry Requirements:
An appropriate Bachelor's Degree with a minimum average of 65%, obtained in the final year modules. 

RECOGNISE PREVIOUS LEARNING? 
Y 

QUALIFICATION RULES 
The qualification consists of 9 compulsory modules at NQF Level 8 totalling 120 Credits.
Modules:
  • Introduction to Derivative Securities, 10 Credits.
  • South African Financial Instruments and Markets, 12 Credits.
  • Numerical Methods in Finance, 12 Credits.
  • Risk Measurement 1, 10 Credits.
  • Interest Rate Modelling, 12 Credits.
  • Stochastic Process for Finance - Discrete, 12 Credits.
  • Stochastic Process for Finance - Continuous, 12 Credits.
  • Risk Measurement 2, 10 Credits.
  • Research Project: Quantitative Finance, 30 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Demonstrate knowledge and understanding of all content that is required to develop an accurate understanding of the subject matter.
    2. Demonstrate an advanced understanding of the subject matter.
    3. Evaluate problems and provide insightful solutions.
    4. Demonstrate leadership and initiative.
    5. Reflect and explore effective learning strategies.
    6. Participate as a responsible citizen. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Stochastic differential equations, stochastic calculus and other mathematical tools are interpreted.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Advanced understanding of key aspects and implications of specified systems, solutions, specified bodies of content and the effect in financial mathematics is presented.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Multiple options of applying and integrating mathematical knowledge to solve theoretical, applied or real life financial engineering problems are examined.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • An ability to reflect with self and others, critical of own and other peoples' thoughts and actions, and capable of self-organisation and working in groups in the face of continual challenge from the environment is exhibited.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • A consciousness of, and engagement with own learning and learning strategies is demonstrated

    Associated Assessment Criteria for Exit Level Outcome 6:
  • An ability to conduct oneself as an independent learner and practitioner is demonstrated.

    Integrated Assessment:
  • As per Institutional/Faculty policy. 
    		•

    INTERNATIONAL COMPARABILITY 
    Comparability studies were carried out on the following qualifications:
  • Bachelor of Mathematics and Finance (Honours), University of Technology Sydney, Australia.
  • Bachelor Science (Honours) with major in Quantitative Finance, National University of Singapore, Singapore.
    These two qualifications were found to be closely comparable when considered from curriculum focus and content point of view.

    Conclusion:
    This qualification was designed not only to have local value but also to secure international acclaim and recognition. Such an achievement could only be attained by following international best practices and standards when developing qualifications. In conducting comparability studies, the production of a quality qualification with a credible local and international standing was a guiding principle. 
    		•

    ARTICULATION OPTIONS 
    This qualification articulates horizontally with NQF Level 8 Finance qualifications with strong Mathematical component. It also articulates vertically with NQF Level 9 registered Finance qualifications with a strong Mathematical component. Articulation options in all cases remain the prerogative of the receiving institutions. 

    MODERATION OPTIONS 
    N/A 

    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 2015. 

    NOTES 
    N/A 

    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 Johannesburg 


    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.