Associate level Core subjects – A Levels
The subjects leading to the Associate designation are grouped into four parts. All these subjects must be completed to meet the requirements for the AMASSA designation.
The successful completion of a degree or SAQA equivalent qualification is a requirement for admission as Associate or Fellow member of the Actuarial Society.
Part A1 (Foundation Technical)
These subjects draw from a number of disciplines outside actuarial science and form the foundation required to pursue in-depth actuarial studies. The three subjects in this part are:
- A101: Probability and Mathematical Statistics.
- A102: Economics.
- A103: Finance and Financial Reporting.
Part A2 (Intermediate Technical)
These subjects provide the basic toolkit of actuarial techniques that is used in a number of practical applications. The five subjects in this part are:
- A201: Financial Mathematics.
- A202: Models.
- A203: Contingencies.
- A204: Statistical Methods.
- A205: Financial Economics.
Part A3 (Core Principles)
These subjects provide the background and principles that allow students to apply their actuarial techniques in a wide variety of situations. The Communications subject also develops the key skill of communicating technical concepts to non-technical audiences. The two subjects in this part are:
- A301: Actuarial Risk Management.
- A302: Communications.
Credit for Part A1, A2 and 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. The Actuarial Society make use of the Institute and Faculty of Actuaries exams for Part A1 and A2. The A301 and A302 papers are set in South Africa.