University of Calgary : 4.5.4 Programs in Actuarial Science


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University of Calgary Calendar 2018-2019 Faculty of Science 4. Program Details 4.5 Mathematics and Statistics 4.5.4 Programs in Actuarial Science
4.5.4 Programs in Actuarial Science
Courses constituting the field of Actuarial Science

Courses in Risk Management and Insurance are not included in the field, but are relevant and are recommended electives for Actuarial Science students. Interested students should consult the Department or the Chair in Risk Management and Insurance in the Haskayne School of Business.

Actuarial Science courses, along with Statistics 421, 429, 505 and 507, cover significant portions of the course of study for the early Casualty Actuarial Society Examinations and Society of Actuaries Examinations/Courses. Students are advised to select additional courses in Economics, Finance, Risk Management and Insurance, and Statistics as electives in order to complete the course of study for these professional examinations, and also to prepare for the advanced Casualty Actuarial Society Examinations/Society of Actuaries Examinations/Courses. Students should speak with a Departmental advisor for guidance.

Students who wish to pursue possible credit towards the Society of Actuaries VEE Accounting and Finance requirements are recommended to take Accounting 217 and Finance 317, respectively. Such students must be in good standing and in the third or fourth year of the Actuarial Science program. Certain other prerequisites for these courses may be waived, but Economics 201 and 203 are essential for Finance 317. Students should contact an advisor in Haskayne for registration approval. (Note, although sufficiently high grades in Accounting 217 and Finance 317 should satisfy the Society of Actuaries' requirements, ultimately the Society of Actuaries will make this determination.

Required Courses - Major Program

See also Section 3 (Faculty Regulations), Subsections 3.4A (Program Requirements - Major Programs) and 3.5B (Course Selection - Introductory Courses).

3 units (0.5 full-course equivalent) - Mathematics 211 or 213

3 units (0.5 full-course equivalent) - Mathematics 249 or 265 or 275

3 units (0.5 full-course equivalent) - Mathematics 267 or 277

3 units (0.5 full-course equivalent) - Mathematics 311 or 313

6 units (1.0 full-course equivalent) - Statistics 321 and 323

6 units (1.0 full-course equivalent) - Mathematics 367 and one from the field of Actuarial Science at the 300 level or higher

3 units (0.5 full-course equivalent) - Computer Science 217 or 231 or 235 or Data Science 211

12 units (2.0 full-course equivalents) - Actuarial Science 325, 327, 427 and 527

21 units (3.5 full-course equivalents) - Selected from:

18 units (3.0 full-course equivalents) - Breadth Requirement: Options from faculties other than the Faculty of Science (check Table I in 3.4 Program Requirements for ineligible courses). Of these 18 units (3.0 full-course equivalents), at least 6 units (1.0 full-course equivalent) must be from the Faculty of Arts. Science 311 may be counted among the 18 units (3.0 full-course equivalents) from other faculties.

42 units (7.0 full-course equivalents) - Options

Note: Not every 400- and 500-numbered Statistics and Actuarial Sciences course is offered every year. Students in third year should ensure they take a sufficient number of these in order to graduate at the end of their fourth year.

Required Courses - Honours Program

In addition to the requirements specified by the Faculty of Science (see Section 3), students are required to complete the following program of study:

3 units (0.5 full-course equivalent) - Mathematics 271 or 273

9 units (1.5 full-course equivalents) - Mathematics 249 or 265, 267, 367

6 units (1.0 full-course equivalent) - Mathematics 211 or 213; Mathematics 311 or 313

6 units (1.0 full-course equivalent) - Statistics 321 and 323

3 units (0.5 full-course equivalent) - Computer Science 217 or 231 or 235 or Data Science 211

12 units (2.0 full-course equivalents) - Actuarial Science 325, 327, 427 and 527

3 units (0.5 full-course equivalent) - Statistics 429

21 units (3.5 full-course equivalents) - Selected from:

6 units (1.0 full-course equivalent) - Selected from:

  • All Actuarial Science courses;
  • Courses in Economics at the 400 level or above;
  • Courses in Risk Management and Insurance at the 300 level or above;
  • Courses in Statistics at the 400 level or above.

18 units (3.0 full-course equivalents) - Breadth Requirement: Options from faculties other than the Faculty of Science (check Table I in 3.4 Program Requirements for ineligible courses). Of these 18 units (3.0 full-course equivalents), at least 6 units (1.0 full-course equivalent) must be from the Faculty of Arts. Science 311 may be counted among the 18 units (3.0 full-course equivalents) from other faculties.

33 units (5.5 full-course equivalents) - Options

Recommendations
  • Not every 400- and 500-numbered Statistics and Actuarial Sciences course is offered every year. Students should consult with the department office to plan for the upcoming cycle of offered courses as well as for a progress assessment on a regular basis throughout their program.
  • Actuarial Science 425 is recommended for students in the Actuarial Science program.
  • The following courses are some of the recommended options for Actuarial Science students in second (or subsequent) years:
  • The following courses are some of the recommended options for Actuarial Science students in third and fourth years:
    • Courses in Risk Management and Insurance at the 400 level or above, especially 439 and/or 449.
  • While a university program will prepare you to join the ranks of the actuarial profession, it is also important for a student to begin writing the professional examinations of the Society of Actuaries and/or Casualty Actuarial Society as soon as possible - but normally not before the end of second year studies - if they wish to find employment in the actuarial industry after graduation. The professional examinations are normally offered on campus twice a year. For more information, please contact a Departmental advisor.
Required Courses - Minor Program

9 units (1.5 full-course equivalents) - Mathematics 249 or 265 or 275; Mathematics 267 or 277; Mathematics 211

6 units (1.0 full-course equivalent) - Statistics 321 and 323

3 units (0.5 full-course equivalent) - Mathematics 367 or one from the field of Actuarial Science at the 300 level or higher

6 units (1.0 full-course equivalent) - Actuarial Science 325 and 327

6 units (1.0 full-course equivalent) - Selected from the following: