Exemption Agreement with the Actuarial Society of South Africa (ASSA)

After completing an honours degree in Actuarial Science, a student is still nothing more than a student. To become an Actuary (Fellow of the Actuarial Society of South Africa – FASSA), one needs to enroll through a professional body and pass a series of, more or less, 16 exams. The South African professional body, the Actuarial Society of South Africa (ASSA), makes use of the curriculum of the British professional body, the Faculty / Institute of Actuaries.

We have an exemption agreement with ASSA, allowing students who perform well to obtain exemptions for many subjects. These exemptions allow graduates to continue with the next level of professional subjects directly through ASSA. In plain language: we can take you halfway to becoming an Actuary.

A closer look at our exemption agreement:

  • ASSA:  UFS
  • A201 - ACSF2746 *
  • A103 - ACSF1513, ACSF1523 **
  • A101 - STSM 1614, 1624, 2616, 2626, 3714, 3734 **
  • A202 - ACSL3706 *
  • A203 - ACSL6815 *
  • A204 - ACSS3716 *
  • A102 - EECF61406, 62406, EECS71407 & 72407 **
  • A205 - ACSF3706 *
  • A301 - ACSG6800 *

* These subjects are core Actuarial subjects. The exemption mark is set by an independent examiner approved by ASSA. Successful candidates usually form the top 25-40% of the class.

** These subjects are non-core Actuarial subjects. The exemption marks are as follow:

ACSF1513, ACSF1523 – An average mark of 65% during the course of the year for Financial Management studies. Note that a sub-minimum of 60% applies to each individual module.

STSM1614, 1624, 2616, 2626, 3714, 3734 – An average mark of 65% per year for each of the three years of studying Mathematical Statistics. Note that a sub-minimum of 60% applies to each individual module. 

EECF61406, 62406, EECS71407, and 72407 – An average of 65% per year over the two years of studying Economics. Note that a sub-minimum of 60% applies to each individual module.

NB: The UFS can only recommend or suggest exemptions. Final acceptance lies entirely with the Education Board of ASSA.

Note that the UFS is an approved examination centre for all ASSA examinations.


FACULTY CONTACT

Faculty Manager: Ms Lee-Ann Frazenburg
T: +27 51 401 3199
E: damonsle@ufs.ac.za

Marketing Manager: Mrs Elfrieda Lötter
T: +27 51 401 2531
E: lottere@ufs.ac.za

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