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University of Calgary
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

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 2021-2022*:

SOA/CAS Exam ReferenceUniversity Course ReferenceCourse TitleMinimum Grade
 P/1 #1:STAT 321

Introduction to Probability

 
B+ 
FM/2 #1  ACSC 325  Theory Of Interest/Math Of FinanceB+
IFM/3F #1  ACSC 425 Intermediate Topics in Finance and Investment B+  
IFM/3F #2  
ACSC 515 Models for Financial Economics B+
LTAM #1  ACSC 327  Life Contingencies IB+
LTAM #2  ACSC 427  Life Contingencies IIB+
LTAM #3  ACSC 527  Life Contingencies IIIB+


STAM #1
ACSC 437  Actuarial ModelsB+
STAM #2  ACSC 531  Loss Distributions and Their EstimationsB+
STAM #3   ACSC 537 Credibility TheoryB+

 

*Grades could be set higher pursuant to the partial review at the end of each term.

Credits for 2020-2021*:

SOA/CAS Exam ReferenceUniversity Course ReferenceCourse TitleMinimum Grade
 P/1 #1:STAT 321Introduction to Probability B+ 
FM/2 #1  ACSC 325  Theory Of Interest/Math Of FinanceB+
IFM/3F #1  ACSC 425 Intermediate Topics in Finance and Investment B+  
IFM/3F #2  
ACSC 515 Models for Financial Economics B+
LTAM #1  ACSC 327  Life Contingencies IB+
LTAM #2  ACSC 427  Life Contingencies IIB+
LTAM #3  ACSC 527  Life Contingencies IIIB+
STAM #1ACSC 437  Actuarial ModelsB+
STAM #2  ACSC 531  Loss Distributions and Their EstimationsB+
STAM #3   ACSC 537 Credibility TheoryB+

*Grades could be set higher pursuant to the partial review at the end of each term.

 

Credits for 2019-2020*:

SOA/CAS Exam ReferenceUniversity Course ReferenceCourse TitleMinimum Grade
 P/1 #1:STAT 321Introduction to Probability B+ 
FM/2 #1  ACSC 325  Theory Of Interest/Math Of FinanceB+
IFM/3F #1  ACSC 425 Intermediate Topics in Finance and Investment B+  
IFM/3F #2  
ACSC 515 Models for Financial Economics B+
LTAM #1  ACSC 327  Life Contingencies IB+
LTAM #2  ACSC 427  Life Contingencies IIB+
LTAM #3  ACSC 527  Life Contingencies IIIB+
STAM #1ACSC 437  Actuarial ModelsB+
STAM #2  ACSC 531  Loss Distributions and Their EstimationsB+
STAM #3   ACSC 537 Credibility TheoryB+


*Please note that due to the COVID-19 situation affecting examinations, any credits requiring courses from the winter 2020 semester will only be considered for approval in fall 2020 once the external examiner review process has been completed.


Credits for 2018-2019:

SOA/CAS Exam ReferenceUniversity Course ReferenceCourse TitleMinimum Grade
FM/2 #1  ACSC 325  Theory Of Interest/Math Of FinanceB+
FM/2 #2  
FM/2 #3  
FM/2 #4  
IFM/MFE/3F #1  ACSC 515 Models for Financial Economics B+
IFM/MFE/3F #2  
IFM/MFE/3F #3  
IFM/MFE/3F #4  
LTAM/MLC #1  ACSC 327  Life Contingencies IB+
LTAM/MLC #2  ACSC 427  Life Contingencies IIB+
LTAM/MLC #3  ACSC 527  Life Contingencies IIIB+
LTAM/MLC #4  
STAM/C/4* #1ACSC 437  Actuarial ModelsB+
STAM/C/4* #2  ACSC 531  Loss Distributions and Their EstimationsB+
STAM/C/4* #3   ACSC 537 Credibility TheoryB+
STAM/C/4* #4  


Transition rules

*For candidates in the Casualty Actuarial Society education system, conversion credit for Exam C/4 toward MAS II obtained through UAP credit must be earned by December 31, 2018.

Credits for 2017-2018:

SOA/CAS Exam ReferenceUniversity Course ReferenceCourse TitleMinimum Grade
FM/2 #1  ACSC 325  Theory Of Interest/Math Of FinanceB+
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 IB+
MLC #2  ACSC 427  Life Contingencies IIB+
MLC #3  ACSC 527  Life Contingencies IIIB+
MLC #4  
C/4 #1ACSC 437  Actuarial ModelsB+
C/4 #2  ACSC 531  Loss Distributions and Their EstimationsB+
C/4 #3   ACSC 537 Credibility TheoryB+
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 ReferenceUniversity Course ReferenceCourse TitleMinimum Grade
FM/2 #1  ACSC 325Theory Of Interest/Math Of Finance B
FM/2 #2  ACSC 515Models for Financial Economics B+
FM/2 #3  
FM/2 #4  
MFE/3F #1  ACSC 515Models for Financial Economics B+
MFE/3F #2  
MFE/3F #3  
MFE/3F #4  
MLC #1  ACSC 327Life Contingencies I B+
MLC #2  ACSC 427Life Contingencies IIB+
MLC #3  ACSC 527Life Contingencies III B+
MLC #4  
C/4 #1ACSC 437 Actuarial ModelsB+
C/4 #2  ACSC 531Loss Distributions and their EstimationsB+
C/4 #3  ACSC 537Credibility TheoryB+
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 ReferenceUniversity Course ReferenceCourse TitleMinimum Grade
FM/2 #1  ACSC 325Theory Of Interest/Math Of Finance B
FM/2 #2  ACSC 539.04Stochastic Models in Mathematical Finance B+
FM/2 #3  
FM/2 #4  
MFE/3F #1  ACSC 539.04Stochastic 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 427Life Contingencies IIB+
MLC #3  ACSC 527Life Contingencies III B+
MLC #4  
LC #1ACSC 327 Life Contingencies I B+
LC #2ACSC 427Life Contingencies II B+
LC #3ACSC 527 Life Contingencies III B+
LC #4
C/4 #1STAT 437 Actuarial ModelsB+
C/4 #2  ACSC 533Credibility Theory and Loss DistributionsB+
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 ReferenceUniversity Course ReferenceMinimum Grade 
FM/2 #1  ACSC 325B
FM/2 #2  ACSC 539.04B+
FM/2 #3  
FM/2 #4  
MFE/3F #1  ACSC 539.04B+
MFE/3F #2  
MFE/3F #3  
MFE/3F #4  
MLC #1  ACSC 327B+
MLC #2  ACSC 427B+
MLC #3  ACSC 527B+
MLC #4  
3L/LC #1*ACSC 327B+
3L/LC #2*  ACSC 427B+
3L/LC #3*  ACSC 527B+
3L/LC #4*  
C/4 #1STAT 437B+
C/4 #2  ACSC 533B+
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 ReferenceUniversity Course ReferenceMinimum Grade
FM/2 #1  ACSC 325B
FM/2 #2  ACSC 539.04B+
FM/2 #3  ASCS 539.05B+
FM/2 #4  
MFE/3F #1  ACSC 539.04B+
MFE/3F #2  ACSC 539.05B+
MFE/3F #3  
MFE/3F #4  
MLC #1  ACSC 327B+
MLC #2  ACSC 527B+
MLC #3  ACSC 427B+
MLC #4  
3L #1ACSC 327B+
3L #2  STAT 421B+
3L #3  ACSC 427B+
3L #4  ACSC 527B+
C/4 #1STAT 437B+
C/4 #2  ACSC 533B+
C/4 #3  
C/4 #4  


Credits for 2012-2013:


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

 

 

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