The section offers a variety of undergraduate options for students, in the areas of Actuarial Science and Quantitative Finance.

What's the difference between Actuarial Science and Quantitative Finance? 

In Actuarial Science, you learn to identify and evaluate uncertain future events and financial risks for organisations. Actuaries typically work in insurance, risk management, and banking.

Quantitative Finance shares the same foundations as Actuarial Science, but with more emphasis on applications in the investment and financial industries. Career options include fields like investment banking, derivatives trading, and quantitative asset management. 

What are your options when choosing between an Actuarial Science or Quantitative Finance undergraduate degree? 

  • Bachelor of Business Science in Actuarial Science [CB003BUS01]
  • Bachelor of Commerce in Actuarial Science [CB019BUS01]
  • Bachelor of Commerce in Actuarial Science specialising in Quantitative Finance [CB019BUS09]
  • Bachelor of Business Science in Actuarial Science specialising in Quantitative Finance [CB003BUS09]

For information on the entrance requirements for Actuarial Science and Quantitative Finance, please refer to UCT’s Undergraduate Prospectus under the Faculty of Commerce section.  

Actuarial Conversion Course - Advanced Diploma in Actuarial Science [CU020BUS01]

The Actuarial Conversion Course is an intensive programme designed to provide graduates from disciplines other than Actuarial Science, who have demonstrated strong mathematical and statistical skills, entry into an actuarial career and the actuarial profession.

What's the difference between BBusSc and BCom? 

  • Entry requirements are similar for both degrees.
  • Each degree offers a variety of postgraduate options to cater both for the interests of our students and employment needs.
  • Both degrees are highly marketable.

In the standard format, a BBusSc takes four years to complete, and a BCom takes three years.

As the BBusSc takes a year longer to complete, students specialise in a discipline up to 4th year (level 8) enabling them to apply for a related Master’s degree. BCom students can apply to do a 4th year (level 8) qualification known as Honours or a Postgraduate Diploma after completing their 3-year degree. This enables them to apply to a related Master’s degree after finishing Honours or a Postgraduate Diploma.

The BCom and BBusSc degrees may also be taken by South African students affected by disparities in educational or life experiences through the Academic Development (AD) option offered through the Commerce Education Development Unit (EDU). The BBusSc can be taken over a four- or five-year period, and the BCom over a three- or four-year period. In the EDU, students receive a range of additional support. 

The curriculum may be divided into the following categories of courses:

  1. Core courses in Business Science
  2. Ancillary and related courses 
  3. Courses specifically corresponding to subjects of the Actuarial Society of South Africa.

For more information about the BCom or BBusSc Actuarial Science and Quantitative Finance programmes or the Advanced Diploma in Actuarial Science, please refer to the Commerce Undergraduate Handbook and the FAQs – Prospective Students

You can find out more about entrance to the actuarial profession in the handbook under the section, Admission to Professions.

You may only choose of the following options when you apply:

  • Actuarial Science BBusSc or BCom
  • Mainstream or Academic Development programme

Please note:  If you do not meet the conditional offer points for Actuarial Science, but you meet the criteria for the other Commerce degrees, we will automatically make you an offer for those degrees. If, in your final Matric and NBTs, you meet the minimum Actuarial Science entrance criteria, you will be eligible to register for an Actuarial Science degree.

For information on applying to UCT, admission requirements, National Benchmark Tests, and key dates, please consult UCT’s Undergraduate Prospectus