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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]
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. Actuaries are professionals trained in this discipline.
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 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.
The name of the corresponding academic discipline is actuarial science. While the concept of insurance dates to antiquity, [4] [5] [6] the concepts needed to scientifically measure and mitigate risks have their origins in the 17th century studies of probability and annuities. [7]
Operations research (or operational research) is an interdisciplinary branch of applied mathematics and formal science that uses methods such as mathematical modeling, statistics, and algorithms to arrive at optimal or near optimal solutions to complex problems; Management science focuses on problems in the business world.
Actuarial science – discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. What type of thing is ...