Loved this video. I'm currently a 3rd yr ActSci at UCT. Still not 100% sure if I want to pursue it as a career but videos like this definitely make me lean more towards ActSci, knowing how useful the skills are in various fields.
Hi MJ, I wanted to find out if it's possible for an undergrad student (BSc Financial Math North West University) to write Actuarial exams (A201-A204) exams while they are studying their current degree? The reason why I'm asking is because I'd like to do an Honors in Act Sci, but I noticed that some require at least 5 exemption. So I would like to write the A200 while I'm doing my undergrad. My BSc Fin Math is going to allow me to get exempted for (A101-A103) provided I meet the prerequisite.
At Wits we were highly advised against doing this. Better to focus on the degree and try get the remaining exemptions or come back to honours one year later
Hey mj I'd love to become an actuary You've been inspiration to me So I applied for actuarial science at the university of Pretoria but unfortunately my application was unsuccessful But wits gave me an offer in computer science, And up gave me an offer in mathematical statistics I'm not sure which offer I should take If possible I'd like to switch to actuarial science
honestly, you could go with either, but i personally wouldnt recommend actuarial science as a major, maybe as a minor. actuarial science kind of pigeon-holes you into that one area, and doesn't allow for branching out if you decide you dont like it. of course, degrees are ultimately meaningless when it comes to actuarial work, as exams are much more important. for example, i work as an actuarial analyst for a company, and only 2 out of the 7 actuaries there have degrees with math, the other ones have degrees in german, history, and one even has a degree in jazz! just pick a major you think you'll enjoy, and computer science will actually help out a lot in the actuarial world, as it is becoming more technology based, so experience with SQL and R programming languages will help a lot. just focus on trying to pass some exams!
What was your APS point? If its +34 and you have lv 6 for Maths, apply for BSc Mathematical Statistics at UP, then you can choose to do the same modules as an Actuarial Science student. If you have an APS of 36 and above plus lv 7 for Maths, you can apply for Economics Science at WITS in the first year you're going to do the same modules, then you apply for a transfer in Actuarial Science.
Just butting in here as well. I got my actuarial science degree from UP in 2017 but took the "scenic route" (i.e. started with another degree first). I don't know if this still happens but I remember a lot of my graduating class who graduated with Maths Stats degrees, but took actuarial modules (which is possible to do with most maths degrees at UP all the way up to final year), were not awarded any exemptions upon graduating, even if they met the exemption requirements. This meant they had to start from scratch in terms of professional exams and this can be frustrating. If UP is where you want to go and you have the option of Maths Stats, it's worth taking up the offer. However, I mentioned the exemption issue just to highlight the need to make the switch to the actual Actuarial Science stream so that you are eligible to receive exemptions. Kill 1st semester (which is not too challenging - just a lot of shock with workload) then request the change and if your marks are good switching won't be a problem
It’s not common and it will vary from university to university. It’s worth it if you want to become a lecturer or get a PhD. Otherwise it’s better to focus on the profession exams.
I would say it depends with your location, budget and background. If u in South Africa u cannot do a masters in Actscie unless u have a bachelors degree and passes/exemptions in all the Core-technical subjects. However in the UK(University of Kent etc), they have two year masters were u can get upto 7 CTs. The only value in doing this masters would be to get your exams fast. Otherwise I agree with MJ, its better to focus on the professional exam yourself and find an entry role.
@@MJtheFellowActuary Hey Mj, I was wondering if a honors degree is necessary to get a generally high paying entry level job Im a wits actuarial sciences student on my 2nd year with 2 CT's btw
