Curriculum Information Page

ASSA Student Admissions

The Student Admissions Committee will, subject to its discretion, admit as student members of the Actuarial Society applicants who satisfy the academic requirements outlined in the following document:

 –   Student Admission Criteria document

 

Students who apply to write A211 or complete the Banking Certification program as non-members must follow the process in the following document:

–  Non-member application process

A-Level study Notes:     

NEW NOTES  are available from Acted. (except A311)

A311 Notes were localised for SA and needs to be purchased through the ASSA webshop.  Buy A311 Notes.

Sample papers and Study notes are available on the Acted website.

Subject Codes to use when buying new notesclick here 

ASSA Course Structure Information

(Note: Covid regulations may require courses and lectures to be done virtually)

IFoA SUBJECTS ASSA SUBJECT EXAMS / ASSESSMENT
CS1: Actuarial Statistics 1 A111: Actuarial Statistics * Written 3-hour 15 minutes exam; and 1 hour  and 45 minutes problem based exam
CB2: Business Economics A112: Business Economics Written 3-hour 15 minutes exam
CB1: Business Finance A113: Business Finance Written 3-hour 15 minutes exam

*Exam Note 1:
For these subjects both elements of assessment must be taken at the same examination sitting. The two papers will be weighted (70% for the written paper and 30% for the problem based assessment). A single aggregate mark will then be calculated. Failure to reach the overall pass mark will require both elements of assessment to be retaken. The problem-based assessments will be computer based and take place as per IFoA arrangements – taken at home or in your office.

Credit for Part A1 can be obtained as follows:

  • By achieving an exemption recommendation for an equivalent subject as part of a degree programme at universities accredited by the Actuarial Society.
  • Writing the Actuarial Society examination. The Actuarial Society make use of the Institute and Faculty of Actuaries exams for subjects in Part A1.

Part A2 (Intermediate Technical)

PART ASSA SUBJECT ADMISSION CRITERIA EXAMS / ASSESSMENT
Part A2 (Intermediate Technical) A211: Financial Mathematics N/A Written 2-hour exam.
A212: Risk Modelling and Survival Analysis

(A212 combines the old A202 and A204)
N/A *Written 3-hour 15 minutes exam; and 1 hour  and 45 minutes problem based (practical) exam
A213: Contingencies If not taken in the same semester as A211 then A211 must be passed 1st *Written 2-hour exam; and 1 hour and 30 minutes problem based (practical) exam.
A214: Loss Reserving and Financial Engineering N/A *Written 3-hour 15 minutes exam; and 1 hour  and 45 minutes problem based (practical) exam.

*Exam Note 1:
For these subjects both elements of assessment must be taken at the same examination sitting. The two papers will be weighted (70% for the written paper and 30% for the problem based assessment). A single aggregate mark will then be calculated. Failure to reach the overall pass mark will require both elements of assessment to be retaken. The problem-based assessment for A213 will be taken at an ASSA venue. The problem-based assessments for the other subjects will take place as per IFoA arrangements – taken at home or in your office.

Credit for Part A2 can be obtained as follows:

  • By achieving an exemption recommendation for an equivalent subject as part of a degree programme at universities accredited by the Actuarial Society.
  • Writing the Actuarial Society examination. The Actuarial Society make use of the Institute and Faculty of Actuaries exams for subjects A212 and A214 in Part A2.

Part A3 (Core Principles)

For 2019 students should purchase the CA1 (current A301) notes. Re-takers may use their 2018 notes.

PART ASSA SUBJECT ADMISSION CRITERIA EXAMS / ASSESSMENT
Part A3 (Core Principles) A311: Actuarial Risk Management N/A Two written/typed exams (the assessment consists of two 3-hour exams that need to be passed together)

Credit for Part A3 can be obtained as follows:

  • By achieving an exemption recommendation for an equivalent subject as part of a degree programme at universities accredited by the Actuarial Society.
  • Writing the Actuarial Society examination.

Apart from the admission criteria as set out below, ASSA will also require students to show progress in their WBL programme to be allowed to attend a specific NS module.  Click HERE to view WBL progression requirements for NS

Part N1 - Foundation APP (Actuarial Professional Practice)

Exemptions: All Student members who did not attend an ASSA accredited programme at an ASSA accredited university. Students who qualify for the exemption criteria for Foundation APP does not have to do this part and can register for N1 – Core APP

ASSA SUBJECT SUBJECT COMPONENTS (Sub-Credits) ADMISSION CRITERIA EXAMS / ASSESSMENT
N111: Foundation APP (Actuarial Professional Practice) Module 1 – The Professional Actuary in South Africa All Student members who did not attend an ASSA accredited programme at an ASSA accredited university. Online E-learning course and online assessment
Module 2 – Professional Communications for Actuaries Online E-learning course and online assessment
Module 3 – Modelling Fundamentals Online E-learning course and online assessment
Part N2 - Communications and N3 - Core APP (Actuarial Professional Practice)

N311 Core Actuarial Professional Practice completion: 

Successful completion of: N111 – Foundation APP; N311.01 – NS Core APP WBL.

All courses and exams: N211 / N311.02 – N311.07 ; All academic requirements towards the AMASSA designation

ASSA SUBJECT SUBJECT COMPONENTS (Sub-Credits) ADMISSION CRITERIA EXAMS / ASSESSMENT
N211: Communications Communications Course N/A Typed 3 hour exam
N311: Core Actuarial Professional Practice Module 1: Core APP Work Based Learning You must be an employed ASSA member, working under the supervision of a Fellow or ASSA approved non-Fellow line manager who will sign off the self-assessment and action plan. Active 24 months skills development (on the job training) and assessment
Module 2: Actuarial Business and Legal Awareness Passed (or been exempted from) Foundation APP

Passed (or been exempted from) all three A1 level subjects and

Passed (or been exempted from) at least four other subjects from the following: A2 level subjects, A311: Actuarial Risk Management, N211: Communications, F1 level subjects and F2 level subject.

Completed the specified WBL requirements for N311.02

Components: Pre-work Assignment, Workshop attendance, Business Awareness exam
Module 3: Model Documentation, Analysis and Reporting (MDAR) N311.03 Course (N311.03.C):

Actively participated in N311.02.C and passed N311.02.E

Completed the specified WBL requirements for N311.03

Exam: (N311.03.E)

Completion of: N311.03.C Module 3: (MDAR) Course day.

Repeats will require compulsory counselling if grade is less than FA

Components: Pre-work Assignment, Workshop attendance, Modelling exam
Module 4: Presentation skills and Communication Actively participated in N311.03.C

Completed the specified WBL requirements for N311.04

 

Components: Pre-work preparation, Workshop attendance and active participation and assessment
Module 5: General Practice Module (GPM) NA Self-study module with an online MCQ exam
Module 6: Strategic Thinking and Interpersonal skills Actively participated in N311.04

Pass in N311.05

Completed the specified WBL requirements for N311.06

2 Day workshop attendance, active participation and assessment
Module 7: Professionalism for Associates Actively participated in N311.06

Completed the AMASSA academic requirements.

Completed the specified WBL requirements for N311.07

Pre-work, 1 Day workshop attendance, active participation
Part N4 - Fellowship APP (Actuarial Professional Practice)

Part N4 – Fellowship APP (Actuarial Professional Practice) – Completion of:

N311 – NS Core APP; N411.01 – NS WBL for Fellows; N411.02 – Professionalism for Fellows; All academic requirements towards the FASSA designation.

ASSA SUBJECT SUBJECT COMPONENTS (Sub-Credits) ADMISSION CRITERIA EXAMS / ASSESSMENT
N411: Fellowship Actuarial Professional Practice Module 1: Work Based Learning for Fellowship You must have completed N311.01 – Core APP WBL and continue with employment working under the supervision of a Fellow or ASSA approved non-Fellow line manager who will sign off the Fellowship WBL APP. Active 36 months skills development (on the job training) and assessment.  (24 months Associate WBL and an additional 12 months Fellowship WBL)
Module 2: Professionalism for Fellowship Completed all subjects required to be an academic qualifier for the FASSA designation.

Successful Completion: N111, N211 and N311

Completed the specified WBL requirements for N411.02 the FASSA designation.

Pre-work; attendance and active participation in 2 day (stay -over) workshop.

(During Covid times this will not be a stay over course)

 

Part F1 (Fellowship Principles):

The pre-requisite for Part F1 subjects is at least an FA for Actuarial Risk Management (A311), or a University pass for the equivalent subject, before a student can attempt an F1 series subject.

PART ASSA SUBJECT ADMISSION CRITERIA EXAMS 
Part F1 (Fellowship Principles)

Need to select 2 subjects

F101: Health and Care Principles Pass | exempted | FA grade | University Pass: A311 (A301) Written/typed 3 hour exam
F102: Life Insurance Principles Pass | exempted | FA grade | University Pass: A311 (A301) Written/typed 3 hour exam
F103: General Insurance Principles Pass | exempted | FA grade | University Pass: A311 (A301) Written/typed 3 hour exam
F104: Retirement and Related Benefits Principles Pass | exempted | FA grade | University Pass: A311 (A301) Written/typed 3 hour exam
F105: Finance and Investment Principles Pass | exempted | FA grade | University Pass: A311 (A301) Written/typed 3 hour exam
F106: Enterprise Risk Management UK subject Written 3 hour exam

Part F2 (Fellowship Applications):

PART ASSA SUBJECT ADMISSION CRITERIA EXAMS
Part F2 (Fellowship Applications)

Need to select 1 subject, preferably in line with F1 subjects.

F200: Research Option Recommended that student had a good attempt at the corresponding F1 subject. Thesis
F201: Health and Care Applications Written/typed 3 hour exam
F202: Life Insurance Applications Written/typed 3 hour exam
F203: General Insurance Applications Written/typed 3 hour exam
F204: Retirement and Related Benefits Applications Written/typed 3 hour exam
F205: Investment and Finance Applications Written/typed 3 hour exam
F206: Banking Applications Written/typed 3 hour exam

REQUIREMENTS FOR COMPLETION OF CHARTERED ENTERPRISE RISK ACTUARY (CERA)

The CERA Enterprise Risk Management credential is the most comprehensive and rigorous globally-recognised Enterprise Risk Management (ERM) designation and is supported by 15 member associations in 14 countries worldwide, including many of the major economies. In order to qualify with the CERA designation with the Actuarial Society of South Africa, you must meet the following requirements:

  • Complete all the requirements for either the Associateship or Fellowship of the Actuarial Society [including all the Professional Skills requirements]
  • Pass: F106 (ST9) – Enterprise Risk Management
  • Completion of the 2 day ERM course (C100)

Once you have met all the above requirements, you will need to complete the Application for CERA Credential form and send it to the ASSA office, in order for the qualification to be awarded to you.

CERA – a global risk management qualification for the future, for more information refer to the global CERA website

ASSA Subject UK Subject
F106 : Enterprise Risk Management ST9 : Enterprise Risk Management
C100 : Applied Enterprise Risk Management Course  N/A

F200 Research Option

This option will not be available as of 1 April 2021.

FREQUENTLY ASKED QUESTIONS - EXPAND TO SEE ALL

Where to get the study material that will be used for the A311?

ASSA will still rely on study notes from ActEd (UK) for A311. For 2019 students must purchase the A311 Notes that ActEd made available for SA students and not the CP1 notes.

Students that already have the A301 Notes may use these again in 2019.

Do I need to write the theory paper and the computer based practical paper (problem-based exam) in the same sitting?

Yes, you will have to sit both papers at the same sitting. You should view this as an examination with two elements of assessment.  The papers will be weighed 70% and 30% to provide a final mark.

For A213, both the theory and practical papers will be sit at an ASSA venue and for the practical paper you will use an ASSA supplied PC. All other practical exams will be written as per IFoA instructions.

Some exam duration are indicated as ‘written 3-hour 15 minutes exam’, is this 15 minutes reading time as the case is currently?

Students will have the choice of how to use this time. Exam time is indicated as the overall time; for example, a 3-hour paper is now 3 hours and 15 minutes.

Will I have to learn ‘R’ coding to write the exams?

We recommend that for the Actuarial Statistics subjects – A111 and A212 –  you familiarise yourself with ‘R’.  There are lots of free resources available to help you with this.

Support for Excel and “R” is provided by ActEd. Please refer to the PBOR products  (Paper B Online Resources) on the ActEd website for the different subjects.

The support that the PBOR is provided by taking students through the syllabus, step by step showing students the type of questions to expect. It also show alternative ways to approach questions.

Which subject may I register for to write as a non-member?

A211 will be an admission exam and may be written as a non-member for ASSA.

Still got questions?  Please submit your question or input below.

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