Program Overview
The Concentration in Actuarial Science equips students with the skills and knowledge necessary to pursue a career as an Actuary. Graduates are prepared for professional exams and future employment in the insurance, banking, and consulting industries.
Program Outline
Degree Overview:
Concentration in Actuarial Science
This concentration, offered through the Department of Mathematics, Statistics, and Computer Science, focuses on skills necessary for success on the path to becoming an Actuary. Students may complete this concentration alongside a B.A. or a B.Sc. in Mathematics with Major, Advanced Major, or Honours.
Objectives:
- Equip students with skills necessary to begin pursuing a career as an Actuary
- Provide a strong foundation in financial, mathematical, and economic principles
- Mandatory courses include:
- ECON 101
- ECON 102
- BSAD 221
- BSAD 241
- BSAD 342
- MATH 236
- STAT 333
- STAT 331 or STAT 357 (435)
- STAT 334
- Approved VEE courses include:
- STAT 334
- ECON 101
- ECON 102
- BSAD 241
- BSAD 342
- Strongly recommends STAT 445
Outline:
Program Content:
- Focuses on courses related to financial, mathematical, and economic principles
- Covers topics relevant to becoming an ASA or ACAS
- Includes VEE (Validation by Educational Experiences) courses
Structure:
- Courses typically taken in first year:
- MATH 106 or 126
- MATH 107 or 127
- BSAD 101
- BSAD 102
- CSCI 161
- ECON 101
- ECON 102
- Second year:
- Consult Academic Calendar for Major/Advanced Major/Honours requirements
- Complete applicable major/advanced major/honours requirements along with:
- STAT 101 or STAT 231
- BSAD 221
- BSAD 241
- MATH 236
- Third and fourth years:
- Follow applicable major/advanced major/honours requirements
- Complete:
- BSAD 342
- STAT 333
- STAT 331
Careers:
Potential Career Paths:
- Actuary
- Associate of the Society of Actuaries (ASA)
- Associate of the Casualty Actuary Society (ACAS)
Opportunities:
- Opportunities in insurance, banking, consulting firms, and other industries
Outcomes:
- Students are prepared for professional exams and future careers in Actuarial Science
Other:
- VEE:
- Verified by Educational Experiences
- Three topics:
- Economics
- Corporate Finance (ends July 1, 2019)
- Accounting and Finance (new, begins July 1, 2018) or Applied Statistical Methods (ends July 1, 2018) and Mathematical Statistics (new, begins July 1, 2018)
- Can be completed as desired
- Completion qualifies students for VEE credit after passing two SOA or CAS exams
- Actuarial Students' National Association
- Offers webinars on Actuarial Science topics
- Professional Exams:
- Important component for Actuary designation
- Contribute to professional advancement and expertise
- Professional Associations:
- Society of Actuaries (SOA)
- Casualty Actuarial Society (CAS)
- Canadian Institute of Actuaries (CIA)
- Internships:
- Provide real-world experience and industry-specific tools
- Resources for Actuarial Science internships:
- CAS Career Center
- SOA Career Development
- Co-op:
- Combines academic studies and career-related experience
- Alternates work terms with academic study
- Paid work experience
- Can complete 12-16 months of work experience
- Organizations:
- Insurance Companies
- Banking
- Consulting Firms
- Organizations serving the Insurance Industry
- Financial Consultancies
- Corporate Finance
- Investment Management
Conclusion:
The Concentration in Actuarial Science provides a comprehensive foundation for individuals pursuing careers in this field. The program emphasizes both theoretical knowledge and practical experience, preparing students for success in professional exams and future employment.