Education for actuarial quality
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Date
2009
Journal Title
Journal ISSN
Volume Title
Publisher
Actuarial Society of South Africa (ASSA)
Abstract
This paper is located in the field of actuarial professional education. It draws on current literature
and empirical evidence to argue the need for developing generic ‘normative’ capabilities and
values in the actuarial profession. The paper examines three themes of normative education for
actuaries—the intended purpose of an education programme, the range of capabilities and values to
be developed and educational ‘best practice’. A literature review of normative education in various
professions provided a theoretical framework for data analysis, and for making recommendations.
Data were collected from three sources: interviews with stakeholders; documentary evidence
regarding current education of actuaries and accountants; and advertisements for employment of
nearly or newly qualified actuaries. The paper draws on the literature and the empirical evidence to
argue that the purpose of an actuarial education programme is to ensure the delivery of a service of
quality. For this delivery to be achieved, attention must be given to technical, normative and
organisational learning. The paper then reviews normative capabilities and values for actuaries.
Thereafter, educational considerations for the development of normative capabilities and values
are discussed. The paper concludes by drawing on the study to outline principles to guide
curriculum planning for the normative component of the new South African actuarial qualification.
Description
Keywords
Actuarial education, Professional education, Normative education, Curriculum planning
Citation
Lowther, M., McMillan, W. & Venter, F. (2009) Education for actuarial quality. South African Actuarial Journal, 9:53 - 75