Professional Organizations & Accreditation

The Department of Statistical and Actuarial Sciences at Western Unversity has Educational Accreditation with the Canadian Institute of Actuaries; is recognized as a Centre of Actuarial Excellence by the Society of Actuaries; and hasEducational Accreditation with the Statistical Society of Canada - What does this mean?

 

Canadian Institute of Actuaries – Educational Accreditation

Western’s undergraduate actuarial science program has been accredited by the Canadian Institute of Actuaries (CIA). This means that Western students will be able to obtain exemptions from several of the preliminary examinations for the purpose of attaining Associateship or Fellowship in the Canadian Institute of Actuaries(CIA). 

These exemptions may also be used for the purpose of attaining Associateship or Fellowship in the Casualty  Actuarial Society, but not for the purpose of attaining Associateship or Fellowship in the Society of Actuaries.

The University Accredtiation Progam (UAP) provides credit  for exams FM/2, MFE/3F, MLC and C/4.  All students will still be required to write Exam P/1.

You can click on the link below for a listing of Western University accredited courses and their minimium grade requirements:

http://www.cia-ica.ca/membership/uap/accredited/uwo

To learn more about the CIA University Accreditation Program(UAP) and application process, you can also access the CIA UAP information for students website at

 http://www.cia-ica.ca/membership/uap/information-for-students


Society of Actuaries - Centre of Excellence

CAEs meet specific requirements related to degree, curriculum, graduate count, faculty composition, graduate quality, appropriate integration, connection to industry, and research/scholarship. These are typically undergraduate-advanced programs; some of them also offer graduate-education or graduate-education and research.

Western’s actuarial program includes the following Validation by Educational Experience approved courses:
VEE – Applied Statistical Methods
VEE – Corporate Finance
VEE – Economics

The program also includes courses that substantially cover the learning objectives for:
SOA Probability (PD) Exam/CAS Exam 1
SOA Financial Mathematics (FM) Exam / CAS Exam 2
Life Contingencies segment of the SOA Actuarial Models MLC Exam
Financial Economics segment of the SOA Actuarial Models MFE Exam
CAS Exam 3
SOA Construction and Evaluation of Actuarial Models (C) Exam / CAS Exam 4

Learn more about Centers of Excellence at:http://www.soa.org/Education/Resources/cae/default.aspx

Statistical Society of Canada – Education Accreditation

The Statistical Society of Canada (SSC) offers two levels of accreditation, the Professional Statistician (P.Stat.) and the Associate Statistician (A.Stat.).   The qualification of  A.Stat. is intended to indicate that the holder has completed a course of study equivalent to a major or honours degree in statistics. 

The Accreditation Committee has pre-approved the following Western University suggested course lists that may be used towards the educational requirements of the A.Stat. No further documentation about these courses needs to be submitted by the candidate applying for an A.Stat.

http://www.ssc.ca/en/accreditation/ap ... towards-astat-designation


Casualty Actuarial Society

The Casualty Actuarial Society (CAS) currently has over 7500 members (mainly in Canada and the USA) who are experts in property and casualty insurance, reinsurance, finance, risk management, and enterprise risk management.  Its mission is to advance actuarial science through a singular focus on research and education for property and casualty actuarial practice.

The purposes of the Casualty Actuarial Society are:

  • to advance the body of knowledge of actuarial science applied to general insurance, including property, casualty and similar risk exposures;
  • to expand the application of actuarial science to enterprise risks and systemic risks;
  • to establish and maintain standards of qualification for membership;
  • to promote and maintain high standards of conduct and competence;
  • to increase the awareness of actuarial science;
  • and, to contribute to the well-being of society as a whole.