Frequently asked questions
General
Q: Who should I approach for information regarding studies in Stats and Actuarial Science?
A: Please approach our programme director by sending an email to StatsAct@ufs.ac.za.
Q: How do I know which modules to register for?
A: Please search out the latest Rule Book of the Faculty of Natural and Agricultural Sciences. It has all the important information, including technical details. The Rule Book information overrides all other information provided here.
Q: Distance or part-time learning: Can I study Statistics or Actuarial Science part-time?
A: All our undergraduate and honours degrees are full-time only. Students must be based in Bloemfontein for the entire academic term. All courses are constructed and taught assuming 100% class attendance. At masters or higher level you may discuss distance and part-time options with the Supervisor and Programme Director.
Data Analytics
Q: I've heard that data analytics / data science / data engineering is the top new career of the decade, how do I qualify as a data analyst?
A: Data analytics is a mixture of programming and statistics. A good data analyst is somebody who can solve business problems by applying strong programming and statistics skills to big data. So you can qualify either by doing a mathematical statistics/applied statistics/actuarial science degree with added focus on programming, or by doing a programming degree with statistics/mathematical statistics. Both options are available at the UFS.
Actuarial Science
Q: Is Actuarial Science a selection course?
A: Yes, please make use of the rules and procedures for selection courses if you would like to study actuarial science with us. We consider only applications which meet the minimum requirements (70% for Maths, 50% Language and 34 AP score, or better).
Q: What happens if I don’t meet the requirements?
A: In most cases students will have to enter into a related degree and can later apply to move to Actuarial Science if their results are strong enough (65%+ for ALL subjects).
Q: How many years of study is Actuarial Science?
A: Most students take more than ten years to become an actuary, but the minimum is 8 years. This is broken up into phases: Undergraduate degree (minimum three years), Honours degree (minimum one year), work and study simultaneously through correspondence (minimum four years). Typically, less than 10% of students entering into the programme complete the entire process to be fully qualified, and these are usually the hardest-working students.
Q: What are the career prospects?
A: All students who complete the honours programme find good employment. Usually this is in the financial sector, especially banking and insurance. Many students decide to move into a statistics career instead, including data analytics, biostatistics, marketing, official statistics, etc.
Q: How do exemptions work?
A: Students doing well in our examinations do not have to write the corresponding exams of the Actuarial Association of South Africa (ASSA). Technical details are on the Actuarial Science page.
Q: What should I focus on to prepare for Actuarial Science?
A: Reading, writing, and communication skills. Many students struggle because their language skills are not up to standard. Also, general knowledge about the financial sector is a must. So, keep up to date by reading the financial and business news.
Q: What should I focus on in the first year?
A: It is important that you attend classes but even more important to learn how to study independently in addition to classes. The material alone is not sufficient to perform well in this degree. You need to make up your own homework when not enough homework is provided. You should get 70%+ for the first year Mathematics, as it is a requirement to register as a student member of the Actuarial Society of South Africa upon completion of your Bachelors degree. This is usually the biggest challenge for first-year students.
Q: What do I do if I realise Actuarial Science is the wrong choice for me?
A: The earlier you realise this the more options you have, so find out everything you can about the career now. Speak to a programme director or guidance counsellor after doing your own reading. After the first year you can move to a mathematical statistics, mathematics or economics degree. During or after the third year it is difficult (but not impossible) to move to anything other than mathematical statistics. Luckily statistics is used in every business and every science so you are still guaranteed employment should you pursue this avenue thoroughly.
Mathematical Statistics
Q: What are the entry requirements?
A: 70% for Maths, 50% for Language and 32 AP score, or better, in final matric results.
Q: What can I do with a degree in Mathematical Statistics?
A: Mathematical Statistics is the basis for many of the world's top careers, including data analyst and scientific consultant. It is used in every science and in every field of business to turn data into useful knowledge. Locally, many graduates are employed in clinical research organisations and marketing companies.
Applied Statistics
Q: What are the entry requirements?
A: 60% for Maths, 50% for Language and 32 AP score, or better, in final matric results.
Q: What can I do with a degree in Applied Statistics?
A: Applied Statistics is the basis for many of the world's top careers, including data engineering and business intelligence. It is used in every science and in every field of business to turn data into useful knowledge.