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A student may choose to complete an accredited actuarial science degree at an undergraduate or at a postgraduate level through a number of recognised universities. Successful students may offer proof of having covered the topics whilst at university and students may be granted exemptions from certain professional examinations from the Institute ...
The University of KwaZulu-Natal (UKZN; Zulu: INyuvesi yakwaZulu-Natali, Afrikaans: Universiteit van KwaZulu-Natal) is a public research university with five campuses in the province of KwaZulu-Natal in South Africa. [7] [6] It was formed on 1 January 2004 after the merger between the University of Natal and the University of Durban-Westville. [1]
The BBusSci "allows for intensive specialization" in the degree major [2] and thus comprises a four-year Honours level program. It differs from the Bachelor of Commerce (BComm) - the three year Bachelor's degree in business and economics usually offered in South Africa - in that, additional to the treatment of the major, all students are exposed to management theory in some depth.
The actuarial credentialing and exam process usually requires passing a rigorous series of professional examinations, most often taking several years in total, before one can become recognized as a credentialed actuary. In some countries, such as Denmark, most study takes place in a university setting.
Historically, actuarial science used deterministic models in the construction of tables and premiums. The science has gone through revolutionary changes since the 1980s due to the proliferation of high speed computers and the union of stochastic actuarial models with modern financial theory. [1] Many universities have undergraduate and graduate ...
The following outline is provided as an overview of and topical guide to actuarial science: Actuarial science – discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries.
These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills. [2] Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms. [3] The name of the corresponding academic discipline is actuarial science.
The model is mainly in use for actuarial work and asset liability management. Because of the stochastic properties of that model it is mainly combined with Monte Carlo methods. Wilkie first proposed the model in 1986, in a paper published in the Transactions of the Faculty of Actuaries. [1] It has since been the subject of extensive study and ...