Membership & Education

Selection Criteria and Award Process

The selection committee evaluates applications based on the following criteria:

  • Relevance of the MSc program to actuarial science, the type of program, and the nature of its courses and proposed research;
  • The applicant’s academic and/or professional record (GPA);
  • Results of professional actuarial exams or CIA University Accreditation Program credits;
  • Academic or professional goals;
  • Academic/professional experiences;
  • Letters of reference; and
  • Other characteristics, such as communication skills, leadership experiences, and extracurricular activities.

The selection committee will make a recommendation to the Member Services Council (MSC) regarding the scholarship winners. The MSC shall make the final decision on the number of awards to be granted (within the budgeted amounts) and to which candidates. Successful applicants will be notified by e-mail and will have 14 days to accept or decline the scholarship offer.

Awards will be granted to successful applicants, not to the host program/institution. Scholarships may be portable within or between programs, as long as recipients continue to meet the award eligibility requirements. Applicants are not restricted from holding scholarships provided by other sources.

Each scholarship will be paid in two equal instalments: one at the beginning of the fall semester (upon proof of enrolment), and one at the beginning of the winter semester, subject to the award holder remaining in good standing. If an award holder chooses to defer enrolment in the proposed graduate program to a later date, the recipient must notify the CIA immediately. Note that the approval of the deferral of scholarship funds by the Institute is not guaranteed.