Actuarial Mathematics

Actuarial Mathematics prepares students to be professionals who use mathematical models to analyse and solve financial problems under uncertainty. Actuaries are experts in the design, financing and operation of insurance plans, annuities, and pension or other employee benefit plans. An actuary requires a strong mathematical background, as well as knowledge of computers, accounting, finance and economics. Exposure to the social sciences and humanities is also important to provide a proper foundation for a broad approach to the many problems which the actuary regularly faces. The following Actuarial programs prepare students to write examinations to gain admission to the Canadian Institute of Actuaries and provide an excellent preparation for graduate studies in Actuarial Mathematics.

Honours in Actuarial Mathematics — 66 credits

Intended for students who want an introduction to actuarial research. An honours research project is required for graduation. Normally students apply for entry into the Honours program after starting in the Specialization, although direct entry into the program is possible with an interview. A high academic standing is required to enter and remain in the program. This program can be completed as a BA or BSc degree.

Specialization in Actuarial Mathematics — 60 credits

Designed for students who wish to pursue an actuarial career but have a keen interest in Mathematics. Our programs prepare students for the first five Associateship exams of the Society of Actuaries and the Casualty Actuarial Society, while providing a thorough background in Mathematics, Probability & Statistics. This program can be completed as a BA or BSc degree.

See additional admission requirements for BSc (Honours) – In addition to the general admission requirements, these program have extra program-specific requirements.

See the BA degree or BSc degree descriptions for information on the core and elective requirements. For a complete list of courses: Undergraduate Calendar

Sample courses include:

Mathematics of Finance, Actuarial Mathematics I & II, Risk Theory, Credibility Theory, Loss Distributions

Actuarial Math. and Actuarial Math./Finance Co-op Program

Students become familiar with computer programs that are used by actuaries to analyse socioeconomic data, make defined benefit plan calculations and create actuarial tables. They develop expertise in writing professional reports and become familiar with document preparation methodology. Employers such as insurance companies and consulting firms often classify these positions as actuarial assistants or actuarial analysts. Students work in a structured business environment that promotes teamwork and accountability, and enhances communication skills.

Admission Requirements

Actuarial Mathematics (BA - Honours/Specialization) requirements: Minimum cut-off averages, admission statistics and program requirements.

Actuarial Mathematics (BSC - Honours/Specialization) requirements: Minimum cut-off averages, admission statistics and program requirements.

Undergraduate admissions guidelines: For information on international admission, required documents, proof of language proficiency, the university admissions timetable, selection and notification process.