Membership & Education
 

University of Calgary

Website: http://math.ucalgary.ca/undergraduate/programs/actuarial_science

Name of Actuarial Science Program:

  • BSc Major in Actuarial Science
  • BSc Honors in Actuarial Science
  • BComm/BSc (Actuarial Science) double degree
Description of the Actuarial Science Program:

The Actuarial Science Program prepares a student for a career as an actuarial professional. Actuarial practitioners, also known as actuaries, have been described as financial architects and social mathematicians.

Broadly speaking, actuaries forecast the cost of future risks and improve financial decision making by developing models to evaluate the current financial implications of uncertain future events. Actuarial students learn about advanced mathematical and statistical techniques useful for this purpose, but also study topics like actuarial mathematics, demography, economics, marketing, mathematics of investment and finance, pension mathematics, risk management and insurance, and accounting.

By its very nature, the Actuarial Science Program is interdisciplinary and the skill sets developed by an actuarial student are applicable in many business settings and are in high demand.

Most graduates find employment in one of the fields of insurance, employee benefits, pension and management consulting, or banking and finance, and have the option of switching fields during their career.

Credits for 2017-2018:

SOA/CAS Exam Reference University Course Reference Course Title
Minimum Grade
 
 
FM/2 #1   ACSC 325   Theory Of Interest/Math Of Finance B+
FM/2 #2      
FM/2 #3        
FM/2 #4        
 
MFE/3F #1   ACSC 515  Models for Financial Economics  B+
MFE/3F #2  
 
MFE/3F #3  
 
MFE/3F #4  
 
 
MLC #1   ACSC 327   Life Contingencies I B+
MLC #2   ACSC 427   Life Contingencies II B+
MLC #3   ACSC 527   Life Contingencies III B+
MLC #4        
 
C/4 #1 ACSC 437   Actuarial Models B+
C/4 #2   ACSC 531   Loss Distributions and Their Estimations B+
C/4 #3    ACSC 537  Credibility Theory B+
C/4 #4  
 

Transition rules

  1. Credit for FM/2 can be achieved by using ACSC 325 completed before academic year 2017–2018 with a grade of B, combined with ACSC 515, subject to the three-year sunset clause.
  2. ASCS 325 completed before academic year 2017–2018 with B+ can be used alone to qualify for a credit for FM/2, subject to the three-year sunset clause.

Credits for 2016-2017:

SOA/CAS Exam Reference University Course Reference Course Title
Minimum Grade
 
 
FM/2 #1   ACSC 325
Theory Of Interest/Math Of Finance 
B
FM/2 #2   ACSC 515
Models for Financial Economics  B+
FM/2 #3        
FM/2 #4        
 
MFE/3F #1   ACSC 515
Models for Financial Economics  B+
MFE/3F #2  
 
MFE/3F #3  
 
MFE/3F #4  
 
 
MLC #1   ACSC 327
Life Contingencies I  B+
MLC #2   ACSC 427 Life Contingencies II B+
MLC #3   ACSC 527 Life Contingencies III  B+
MLC #4        
 
C/4 #1 ACSC 437
 Actuarial Models B+
C/4 #2   ACSC 531 Loss Distributions and their Estimations
B+
C/4 #3   ACSC 537 Credibility Theory B+
C/4 #4  
 

Transition rules

1) Credit for FM/2 can achieved by using ACSC 325 completed before academic year 2016-2017 combined with ACSC 515 completed in Fall 2016;

2) Credit for C/4 can be achieved by using ACSC 531 and ACSC 537 completed during academic year 2016-2017 combined with STAT 437 completed in prior academic years.


Credits for 2015-2016:

SOA/CAS Exam Reference University Course Reference Course Title
Minimum Grade
 
 
FM/2 #1   ACSC 325
Theory Of Interest/Math Of Finance 
B
FM/2 #2   ACSC 539.04
Stochastic Models in Mathematical Finance  B+
FM/2 #3        
FM/2 #4        
 
MFE/3F #1   ACSC 539.04
Stochastic Models in Mathematical Finance  B+
MFE/3F #2  
 
MFE/3F #3  
 
MFE/3F #4  
 
 
MLC #1   ACSC 327**
Life Contingencies I  B+
MLC #2   ACSC 427 Life Contingencies II B+
MLC #3   ACSC 527 Life Contingencies III  B+
MLC #4        
 
LC #1 ACSC 327
 Life Contingencies I  B+
LC #2 ACSC 427
Life Contingencies II 
B+
LC #3 ACSC 527
 Life Contingencies III  B+
LC #4
 
 
C/4 #1 STAT 437
 Actuarial Models B+
C/4 #2   ACSC 533 Credibility Theory and Loss Distributions
B+
C/4 #3  

C/4 #4  
 

**Please note that no credit for SOA Exam MLC using Summer 2015 ACT 327 will be granted. 

Credits for 2014-2015:

SOA/CAS Exam Reference University Course Reference Minimum Grade 
 
FM/2 #1   ACSC 325 B
FM/2 #2   ACSC 539.04 B+
FM/2 #3  

FM/2 #4      
 
MFE/3F #1   ACSC 539.04 B+
MFE/3F #2  

MFE/3F #3      
MFE/3F #4      
 
MLC #1   ACSC 327 B+
MLC #2   ACSC 427 B+
MLC #3   ACSC 527 B+
MLC #4  
 
3L/LC #1* ACSC 327 B+
3L/LC #2*   ACSC 427 B+
3L/LC #3*   ACSC 527 B+
3L/LC #4*  

 
C/4 #1 STAT 437 B+
C/4 #2   ACSC 533 B+
C/4 #3      
C/4 #4      
 
* Note:
- 3L: granted for courses taken up to August 2014 (the CAS will automatically convert 3L exemption to LC exemption);
- LC: granted for courses taken beginning September 2014.

Credits for 2013-2014:

SOA/CAS Exam Reference University Course Reference Minimum Grade
 
FM/2 #1   ACSC 325 B
FM/2 #2   ACSC 539.04 B+
FM/2 #3   ASCS 539.05 B+
FM/2 #4      
 
MFE/3F #1   ACSC 539.04 B+
MFE/3F #2   ACSC 539.05 B+
MFE/3F #3      
MFE/3F #4      
 
MLC #1   ACSC 327 B+
MLC #2   ACSC 527 B+
MLC #3   ACSC 427 B+
MLC #4  
 
3L #1 ACSC 327 B+
3L #2   STAT 421 B+
3L #3   ACSC 427 B+
3L #4   ACSC 527 B+
 
C/4 #1 STAT 437 B+
C/4 #2   ACSC 533 B+
C/4 #3      
C/4 #4      

Credits for 2012-2013:


SOA/CAS Exam Reference University Course Reference Minimum Grade 
 
FM/2 #1   ACSC 325 B
FM/2 #2   ACSC 539.04 B+
FM/2 #3   ACSC 539.05 B+
FM/2 #4      
 
MFE/3F #1   ACSC 539.04 B+
MFE/3F #2   ACSC 539.05 B+
MFE/3F #3      
MFE/3F #4      
 
MLC #1   ACSC 327 B
MLC #2   ACSC 527 B+
MLC #3   STAT 507
B+
MLC #4   ACSC 427 B+
 
3L #1 ACSC 327 B+
3L #2   STAT 437 B+
3L #3   ACSC 427 B+
3L #4   ACSC 533 B+
 
C/4 #1 STAT 437 B+
C/4 #2   ACSC 533 B+
C/4 #3      
C/4 #4      

Note:


The CIA will grant credits to candidates based on the achievement of the Credit Grade towards Associate (ACIA) and Felllow (FCIA) membership with the CIA.  At the time of this agreement, CIA credits are recognized by the following actuarial organizations towards their respective designations: 

  • Casualty Actuarial Society (CAS): ACAS, FCAS
  • UK Institute and Faculty of Actuaries (IFoA): FIA
  • Institute of Actuaries of Australia (IAA): AIAA, FIAA

The CIA does not guarantee that credits granted to candidates under the CIA UAP will be recognized by any other actuarial organizations towards their actuarial designations.