Membership & Education
 

Concordia University

Website: http://www.mathstat.concordia.ca/

Name of Actuarial Science Programs:

  • BA or BSc Honours in Actuarial Mathematics
  • BA or BSc Specialization in Actuarial Mathematics
  • BA or BSc Specialization in Actuarial Mathematics/Finance
Description of the Actuarial Science Program:

The online Undergraduate Calendar of Concordia University gives a full description of our actuarial programs. Here is an executive summary.

The Specialization program in Actuarial Mathematics is comprised of 20 required courses (60 credits) and 10 elective courses (30 credits). The required courses cover all of the preparatory material for Exams P, FM, MLC, and C of the Society of Actuaries (SOA), as well as our SOA-approved courses for the VEE in Applied Statistics. The preparatory courses to Exam MFE and our SOA-approved courses for the VEE in Economics and in Corporate Finance are usually taken by actuarial students as part of their 10 elective courses. This is a limited-entry program with a maximum of 50 students selected among the more than 200 applications that we receive every year. Our minimum application grade point average (GPA) is 3.3 on 4.3 and then a minimum GPA of 2.0 on 4.3 is required to remain in good standing in the program.

The Honours program requires exactly the same course content as the Specialization, but in addition the student needs to complete a six-credit Honours actuarial research project, under the supervision of an actuarial researcher. A higher minimum GPA of 3.0 on 4.3 is required to remain in good standing in this program, which is designed for students who intend to continue their training in graduate school.

The Specialization program in Actuarial Mathematics/Finance is offered jointly with our John Molson School of Business (JMSB). It requires exactly the same actuarial courses as the Specialization in Actuarial Mathematics, plus the equivalent of a Minor in Finance, taken at the JMSB. These include all the preparatory courses for Exam MFE and our SOA-approved courses for the VEE in Economics and in Corporate Finance. As a result, all 90 credits are required and there are no electives. We admit, at most, 15 students a year in this program, usually our top applicants (minimum application GPA of 3.7 on 4.3), who sit in the same actuarial courses as the other 50 students. Specialization students form a class of, at most, 65 students in total.

Finally, some distinctive characteristics of the actuarial program at Concordia are:

  • It is the only such program in English in the province of Québec;
  • It was the first program in the province, and one of only a few in the country, to offer cooperative education;
  • It is now a well-established program (more than 30 years old) and of a significant size, with over 200 undergraduate students; and
  • It was one of the first programs to invest significantly in extending its commitment to graduate actuarial education, with master’s and PhD offerings. We have trained several actuarial PhDs that are now teaching in actuarial programs in Canada and the U.S., as well as in Australia, China, Mexico, and several countries in Europe.

Credits for 2017-2018:

SOA/CAS Exam Reference University Course Reference Course Title
Minimum Grade
 
 
FM/2 #1   ACTU 256   Mathematics of Finance B+
FM/2 #2    
FM/2 #3        
FM/2 #4        
 
MFE/3F #1   MACF 401 (or MAST 729G)  Mathematical and Computational Finance I  B
MFE/3F #2   MACF 402 (or MAST 729H)   Mathematical and Computational Finance II B
MFE/3F #3  
 
MFE/3F #4  
 
 
MLC #1   ACTU 257  Actuarial Mathematics I  B
MLC #2    ACTU 357 Actuarial Mathematics II  B
MLC #3  
 
MLC #4        
 
C/4 #1 ACTU 457 (or MAST 724)
 Risk Theory B
C/4 #2   ACTU 458 (or MAST 725)
Credibility Theory  B
C/4 #3    ACTU 459 (or MAST 726)  Loss Distributions B
C/4 #4  
 

Transition rule

Credit for FM/2 can be achieved with ACTU 256 completed prior to September 1, 2017 with a grade of B+ or higher, subject to the three-year sunset clause. ACTU 256 completed prior to September 1, 2017 with a grade of B must be combined with FINA 385 with a grade of B or higher completed before September 1, 2017, subject to the three-year sunset clause. Please note that FINA 385 is no longer an accredited course starting in academic year 2017–2018.

Credits for 2016-2017:

SOA/CAS Exam Reference University Course Reference Course Title
Minimum Grade
 
 
FM/2 #1   ACTU 256
Mathematics of Finance 
B
FM/2 #2 FINA 385
 Theory of Finance I B
FM/2 #3        
FM/2 #4        
 
MFE/3F #1   MACF 401 (or MAST 729G)
 Mathematical and Computational Finance I B
MFE/3F #2   MACF 402 (or MAST 729H)
 Mathematical and Computational Finance II B
MFE/3F #3  
 
MFE/3F #4  
 
 
MLC #1   ACTU 257 
Actuarial Mathematics I  B
MLC #2   ACTU 357 
Actuarial Mathematics II  B
MLC #3  
 
MLC #4        
 
C/4 #1 ACTU 457 (or MAST 724)
 Risk Theory B
C/4 #2   ACTU 458 (or MAST 725) Credibility Theory
B
C/4 #3   ACTU 459 (or MAST 726)
Loss Distributions
B
C/4 #4  
 



Credits for 2015-2016:

SOA/CAS Exam Reference University Course Reference Course Title
Minimum Grade
 
 
FM/2 #1   ACTU 256
Mathematics of Finance 
B
FM/2 #2 FINA 385
 Theory of Finance I B
FM/2 #3        
FM/2 #4        
 
MFE/3F #1   MACF 401 (or MAST 729G)
 Mathematical and Computational Finance I B
MFE/3F #2   MACF 402 (or MAST 729H)
 Mathematical and Computational Finance II B
MFE/3F #3  
 
MFE/3F #4  
 
 
MLC #1   ACTU 257 
Actuarial Mathematics I  B
MLC #2   ACTU 357 
Actuarial Mathematics II  B
MLC #3  
 
MLC #4        
 
LC #1 ACTU 257 Actuarial Mathematics I
B
LC #2 ACTU 357 Actuarial Mathematics II  B
LC #3
 
LC #4
 
 
C/4 #1 ACTU 457 (or MAST 724)
 Risk Theory B
C/4 #2   ACTU 458 (or MAST 725) Credibility Theory
B
C/4 #3   ACTU 459 (or MAST 726)
Loss Distributions
B
C/4 #4  
 


Credits for 2014-2015:


SOA/CAS Exam Reference University Course Reference Minimum Grade
 
FM/2 #1   ACTU 256 B
FM/2 #2 FINA 385 B
FM/2 #3      
FM/2 #4      
 
MFE/3F #1   MACF 401 (or MAST 729G) B
MFE/3F #2   MACF 402 (or MAST 729H) B
MFE/3F #3  

MFE/3F #4  
 
MLC #1   ACTU 257 B
MLC #2   ACTU 357 B
MLC #3  

MLC #4      
 
3L/LC #1* ACTU 257 B
3L/LC #2*   ACTU 357 B
3L/LC #3*  

3L/LC #4*  

 
C/4 #1 ACTU 457 (or MAST 724) B
C/4 #2   ACTU 458 (or MAST 725) B
C/4 #3   ACTU 459 (or MAST 726) B
C/4 #4  
 
* Note:
- 3L: granted for courses taken up to August 2014 (the CAS will automatically convert 3L credit to LC credit);
- LC: granted for courses taken beginning September 2014.


Credits for 2013-2014:


SOA/CAS Exam Reference University Course Reference Minimum Grade
 
FM/2 #1   ACTU 256 B
FM/2 #2   FINA 385 B
FM/2 #3      
FM/2 #4      
 
MFE/3F #1   FINA 413 B
MFE/3F #2   FINA 412 B
MFE/3F #3   STAT 461 B
MFE/3F #4  
 
MLC #1   ACTU 257 B
MLC #2   ACTU 357 B
MLC #3   ACTU 457 B
MLC #4      
 
3L #1 ACTU 257 B
3L #2   ACTU 357 B
3L #3   ACTU 457 B
3L #4   ACTU 459 B
 
C/4 #1 ACTU 459 B
C/4 #2   ACTU 457 B
C/4 #3   ACTU 458 B
C/4 #4  


Credits for 2012-2013:


SOA/CAS Exam Reference University Course Reference Minimum Grade
 
FM/2 #1   ACTU 256 B
FM/2 #2   FINA 385 B
FM/2 #3      
FM/2 #4      
 
MFE/3F #1   FINA 413 B
MFE/3F #2   FINA 412 B
MFE/3F #3   ACTU 459
B
MFE/3F #4   STAT 461 B
 
MLC #1   ACTU 257 B
MLC #2   ACTU 357 B
MLC #3   ACTU 457 B
MLC #4      
 
3L #1 ACTU 257 B
3L #2   ACTU 357 B
3L #3   ACTU 457 B
3L #4   ACTU 459 B
 
C/4 #1 ACTU 459 B
C/4 #2   ACTU 457 B
C/4 #3   ACTU 458 B
C/4 #4   STAT 461 B

Note:


The CIA will grant candidates credits 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, AIA
  • 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.