FAQ: Actuary

What does an actuary do?
Actuaries use their analytical, statistical, and mathematical skills to solve financial and business problems, especially those involving uncertain future events. They analyze and manage risk, evaluate potential financial consequences, and apply mathematical and scientific principles to financial management.
What are the requirements to study actuarial science?
To study actuarial science in South Africa, you need:
  • An APS score of 42
  • A 7 in English (home language or first additional language)
  • A 7 in Mathematics
  • A 7 in Physical Science
You can only study actuarial sciences at a university accredited by the Actuarial Society of South Africa, such as:
  • University of Cape Town
  • University of Pretoria
  • University of Johannesburg
  • Stellenbosch University
  • University of the Witwatersrand
  • North-West University (Potchefstroom Campus)
How long does it take to become an actuary?
It takes 8-10 years to become a fully qualified actuary. It is a long process, but it can be a very rewarding career for those with the right skills and dedication.