DESCRIPTION AND PROGRAMME PURPOSE

The current drive to expand and professionalise the short-term insurance industry requires the development of people with general business management skills and an in-depth understanding of the workings of the short-term industry.

This option provides a strong foundation in general business principles and the required accounting, marketing, economic and quantitative skills. The additional modules allow the student to acquire detailed knowledge of the key principles, rules and theories that underpin the short-term insurance industry.

Students who complete this major will further gain knowledge on a wide range of products, including specialist products available in the short-term insurance industry. Combined with a sound understanding of the regulatory environment and of the practices involved with claims, underwriting procedures and the principles of risk management and reinsurance, students will be enabled to make ethical and professional decisions based on short-term insurance industry-specific scenarios as reflected in the Case Study module.

The purpose of the Bachelor of Commerce (BCom) degree is to provide a broad but solid educational foundation to students in the field of commerce, including various key discipline areas such as business management, accounting and economics. The qualification has been designed to provide the knowledge base, practical competence and

WHO SHOULD ENROL

The programme would be suitable for:

• Persons who require a strong foundation in general business principles and the required accounting, marketing, economics and quantitative skills. The additional modules allow candidates to acquire detailed knowledge of the key principles, rules and theories that underpin the short-term insurance industry.
• Persons wanting to apply for the designation of a Fellow (FIISA) awarded by the IISA.

PROGRAMME OUTCOMES

Successful completion of this qualification should enable the student to:

1. Demonstrate awareness of the management and leadership competences necessary to operate in the local or international business environment.
2. Demonstrate awareness of the essential components of an effective operations strategy in a business environment.
3. Demonstrate awareness of essential economic theory and its managerial and business implications.
4. Conduct business research with appropriate supervision in a business environment. 

Kindly note that there is an overview factsheet available that provides information on all the different BCom majors offered by Milpark.

PROGRAMME STRUCTURE

MAJOR: FINANCIAL PLANNING: 405 CREDITS

In the table below, the "Year 1, Year 2, and Year 3" columns correspond with the complexity of the coursework and progression of the academic levels. These labels align with international BCom standards. The columns do not represent the time it takes for a student to complete the qualification at Milpark. Students have a minimum of four (4) years, and a maximum of nine (9) years, to complete the qualification. This allows for flexibility on the learning journey, at a pace that enables students the best possible opportunity for successful outcomes. 

The admission criteria for the Bachelor in Commerce degree are as follows:

If the candidate matriculated in 2007 or earlier

Candidates who matriculated in 2007 or earlier require:

1. A Senior Certificate with matriculation endorsement/exemption for degree studies. Candidates who have a Senior Certificate but who do not meet the matriculation endorsement/exemption requirements stated above, may apply to Universities South Africa (USAF), for mature age exemption (https://mb.usaf.ac.za/); and

2. A symbol of E or higher for Mathematics on HG, or a symbol of D or higher for Mathematics on SG. Candidates who do not meet the Mathematics requirement may be offered admission on condition that they successfully complete the BCom bridging programme, if they have achieved at least a symbol of E on HG or a C on SG in any two of the following subjects:

• Economics
• Business Economics
• Accounting
• Physical Science or Physics/Chemistry
• Natural Science or Biology.

If the candidate matriculated in 2008 or later Candidates who matriculated in 2008 or later require:

1. A National Senior Certificate (NSC) with a minimum of 50% in four NSC 20-credit subjects, including English as the language of instruction at Milpark Education, as certified by Umalusi. Candidates who have a National Senior Certificate (NSC) but who do not meet the matriculation endorsement/exemption requirements stated above, may apply to Universities South Africa (USAF), for mature age exemption (https://mb.usaf.ac.za/); and

2. A minimum mark of 50% for Mathematics or 70% for Mathematics Literacy. Candidates who do not meet the Mathematics requirement but who have achieved a minimum mark of 50% or higher in any two of the following subjects may be offered admission on condition that they successfully complete the bridging programme:

• Economics
• Business Economics
• Accounting
• Physical Science or Physics/Chemistry
• Natural Science or Biology.

Candidates who have completed a relevant Higher Certificate (NQF 5) or Diploma (NQF 6) in the field of business or commerce, may also be admitted to the BCom degree.

Other certificates

Any applicant who has a certificate other than a South African National Senior Certificate has to provide:

• a SAQA Certificate of Equivalence, if they want to enrol for a Higher Certificate, Advanced Certificate, Diploma or Postgraduate qualification (www.saqa.org.za)
• or a USAF Exemption Certificate, if they want to enrol for a Bachelor’s degree (https://mb.usaf.ac.za/).

Recognition of Prior Learning (RPL) applications

Milpark admits a small number of students onto its programme via Recognition of Prior Learning (RPL). Applicants interested in applying via RPL will be considered individually by the relevant Dean.

Downloads

Information Pack

BCom Streams

Fees & Funding

Textbooks

Timetable