Actuarial Science Field
This course of study introduces students to some of the theory and application of actuarial science. Students will learn how to carry out actuarial research within the context of a major project. Students in this stream should expect to take three (3) terms to complete the MSc program. The number of terms will be specified in the offer of admission and be based on an evaluation of the student's academic background.
Prior to program entry, students are expected to have significant knowledge of Linear Algebra, Calculus, Intermediate Probability, and Mathematical Statistics, plus a basic knowledge of Life Contingencies and Loss Models.
An average grade of 78% on the last twenty (20) one term courses taken is normally required for admission to the program. Because of the competitive nature of the program, the actual minimum entering average may be higher. Higher grades on mathematical, statistical and actuarial science courses will increase an applicant's chances of acceptance into this program.
Students are required to take eight (8) courses.
At least three (3) of these courses must be taken from the following list:
- AS 9004: Survival Analysis
- AS 9005: Advanced Risk Theory
- AS 9007: Advanced Multi-State Models
- AS 9912: Risk Measures and Dependence
- AS 9952: Recent Advances in Ruin Theory
- AS 9972: Mortality Models
- FM 9512: Statistical Methods for Finance and Insurance
- FM 9521: Financial Modelling II
Remaining courses can be selected from statistics, actuarial science, and financial modelling and should be numbered at the 3000-level or above. No more than 2 courses can be below the 9000-level. On occasion, a student may request permission to take graduate courses outside the Department.
During the summer term, students will complete a research project under the direction of a supervisor; typically the supervisor is a regular faculty member in the Department of Statistcal and Actuarial Sciences. Research will be conducted by the student on a topic of current interest in actuarial science. The student will submit written report and either give a 15 minute oral presentation or a poster presentation.
Prospective students wishing to receive credit for previously completed courses must request permission with their initial application to the program. In such cases, students will normally replace such courses with graduate courses in statistics, actuarial science or financial modelling.