Accredited University Detail

University of Waterloo Undergraduate Program

Website:

http://www.stats.uwaterloo.ca/

Description

The Department of Statistics and Actuarial Science at the University of Waterloo is home to one of the largest and most highly renowned actuarial science groups internationally.

The Bachelor of Mathematics (BMath) is offered by the Faculty of Mathematics as a four-year regular honours program or a five-year co-op honours program. Co-op students complete six four-month co-op work terms as part of their academic program. There are a wide variety of co-op employment opportunities, and students can gain up to two years of diverse work experience before graduating.

The BMath program with honours in actuarial science covers a wide range of courses, including full coverage of the material of the SOA/CAS associateship requirements and some coverage of the SOA/CAS fellowship requirements. With a large actuarial faculty, the range of courses offered is broad and extends well beyond the SOA/CAS syllabi. Students may choose to gain a foundational knowledge in property and casualty insurance, pensions, corporate finance, risk theory, and life insurance. Students who are particularly interested in financial or predictive analytics topics may elect to add either option to their actuarial science honours plan.

Students can concurrently earn a Bachelor of Business Administration (BBA) through the Business Administration and Mathematics Double Degree program offered in partnership with Wilfrid Laurier University. The Department also offers honour plans in data science, mathematical finance, and statistics.

The University of Waterloo has one of the world’s largest graduate programs in actuarial science. It offers professional masters programs as well as research-oriented masters and doctoral programs in actuarial science and finance, supported by a large and distinguished group of faculty. Faculty research interests include actuarial risk management, applied probability, risk theory, and quantitative finance.

Waterloo's actuarial science program is recognized as a Center of Actuarial Excellence by the Society of Actuaries. Students graduating from the program have typically made substantial progress toward their Associateship designation in the CIA, CAS, or SOA.

Credits for 2021-2022*:

SOA/CAS Exam Reference	University Course Reference	Course Title	Minimum Grade
P/1:	Will not be offered in 2020-2021

SRM:	Will not be offered in 2020-2021

FM/2 #1:	ACTSC 231	Introductory Financial Mathematics	80

IFM/3F #1:	ACTSC 372	Corporate Finance	80
IFM/3F #2:	ACTSC 446	Mathematics of Financial Markets	75

LTAM #1:	ACTSC 232	Life Contingencies 1	75
LTAM #2:	ACTSC 331	Life Contingencies 2	75
LTAM #3:	ACTSC 455	Advanced Life Insurance Practice	75

STAM #1:	ACTSC 431/489*	Loss Models 1	75
STAM #2:	ACTSC 432	Loss Models 2	75
STAM #3:	ACTSC 363/462**	Introduction to Casualty Insurance/ Introduction to Property and Casualty Pricing	75

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

Credits for 2020-2021*:

SOA/CAS Exam Reference	University Course Reference	Course Title	Minimum Grade
P/1:	Will not be offered in 2020-2021

SRM:	Will not be offered in 2020-2021

FM/2 #1:	ACTSC 231	Introductory Financial Mathematics	80

IFM/3F #1:	ACTSC 372***	Corporate Finance	80
IFM/3F #2:	ACTSC 446**	Mathematics of Financial Markets	75

LTAM #1:	ACTSC 232	Life Contingencies 1	75
LTAM #2:	ACTSC 331**	Life Contingencies 2	75
LTAM #3:	ACTSC 455	Advanced Life Insurance Practice	75

STAM #1:	ACTSC 431/489***	Loss Models 1	75
STAM #2:	ACTSC 432****	Loss Models 2	75
STAM #3:	ACTSC 363/462***	Introduction to Casualty Insurance/ Introduction to Property and Casualty Pricing	75

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

**Please note that no credit will be granted either for SOA/CAS Exams LTAM, IFM using ACTSC 331 or ACTSC 446 completed in Fall 2020.

***Please note that no credit will be granted either for SOA/CAS Exams IFM, STAM using ACTSC 363, ACTSC 372, ACTSC 431 completed in Spring 2021.

****Please note that no credit will be granted either for SOA/CAS Exams STAM using ACTSC 432 completed in Fall 2020 or Spring 2021.

Credits for 2019-2020*:

SOA/CAS Exam Reference	University Course Reference	Course Title	Minimum Grade


P/1	Will not be offered in 2019-2020

SRM	Will not be offered in 2019-2020

FM/2 #1	ACTSC 231***	Introductory Financial Mathematics	80

IFM/3F #1	ACTSC 372***	Corporate Finance	80
IFM/3F #2	ACTSC 446/846**	Mathematics of Financial Markets	75

LTAM #1	ACTSC 232***	Life Contingencies 1	75
LTAM #2	ACTSC 331**	Life Contingencies 2	75
LTAM #3	ACTSC 455	Advanced Life Insurance Practice	75

STAM #1	ACTSC 431***	Loss Models 1	75
STAM #2	ACTSC 432**	Loss Models 2	75
STAM #3	ACTSC 462 ACTSC 433 (until December 31, 2019)	Introduction to Property and Casualty Pricing Analysis of Survival Data	75

*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.

**Please note that no credit will be granted either for SOA/CAS Exams FM/2, LTAM, IFM, STAM using ACTSC 331, ACTSC 432, and ACTSC 446 completed in Winter 2020 or Spring 2020.

***Please note that no credit will be granted either for SOA/CAS Exams FM/2, LTAM, IFM, STAM using ACTSC 231, ACTSC 232, ACTSC 372, ACTSC 431 completed in Spring 2020.

Credits for 2018-2019:

SOA/CAS Exam Reference	University Course Reference	Course Title	Minimum Grade


FM/2 #1	ACTSC 231	Mathematics of Finance	80
FM/2 #2
FM/2 #3
FM/2 #4

IFM/MFE/3F #1	ACTSC 371	Introduction to Investments	80
IFM/MFE/3F #2	ACTSC 446/846**	Mathematical Models in Finance	75
IFM/MFE/3F #3
IFM/MFE/3F #4

LTAM/MLC #1	ACTSC 232	Life Contingencies 1	75
LTAM/MLC #2	ACTSC 331	Life Contingencies 2	75
LTAM/MLC #3	ACTSC 455	Advanced Life Insurance Practice	75
LTAM/MLC #4

*STAM/C/4 #1**	ACTSC 431	Loss Models 1	75
*STAM/C/4 #2**	ACTSC 432	Loss Models 2	75
*STAM/C/4 #3**	ACTSC 433/833*	Analysis of Survival Data	75
C/4 #4

*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.

**8xx accredited courses relate to master of mathematics in actuarial science.

Credits for 2017-2018:

SOA/CAS Exam Reference	University Course Reference	Course Title	Minimum Grade


FM/2 #1	ACTSC 231	Mathematics of Finance	80
FM/2 #2
FM/2 #3
FM/2 #4

MFE/3F #1	ACTSC 371	Introduction to Investments	80
MFE/3F #2	ACTSC 446/846*	Mathematical Models in Finance	75
MFE/3F #3
MFE/3F #4

MLC #1	ACTSC 232	Life Contingencies 1	75
MLC #2	ACTSC 331	Life Contingencies 2	75
MLC #3	ACTSC 455	Advanced Life Insurance Practice	75
MLC #4

C/4 #1	ACTSC 431*	Loss Models 1	75
C/4 #2	ACTSC 432*	Loss Models 2	75
C/4 #3	ACTSC 433/833*	Analysis of Survival Data	75
C/4 #4

Transition rules – Undergraduate Program

Credit for FM/2 can also be achieved with ACTSC 231 completed prior to September 1, 2017 with a grade of 80 or higher, subject to the three-year sunset clause.

ACTSC 371 completed before September 1, 2017 (with a grade of 80 or higher) can be combined with ACTSC 446/846 completed after September 1, 2017 to qualify for a credit for MFE/3, 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	ACTSC 231	Mathematics of Finance	80
FM/2 #2	ACTSC 371	Introduction to Investments	80
FM/2 #3
FM/2 #4

MFE/3F #1	ACTSC 446/846*	Mathematical Models in Finance	75
MFE/3F #2
MFE/3F #3
MFE/3F #4

MLC #1	ACTSC 232	Life Contingencies 1	75
MLC #2	ACTSC 331	Life Contingencies 2	75
MLC #3	ACTSC 455	Advanced Life Insurance Practice	75
MLC #4

C/4 #1	ACTSC 431/831*	Loss Models 1	75
C/4 #2	ACTSC 432/832*	Loss Models 2	75
C/4 #3	ACTSC 433/833*	Analysis of Survival Data	75
C/4 #4

Credits for 2015-2016:

SOA/CAS Exam Reference	University Course Reference	Course Title	Minimum Grade


FM/2 #1	ACTSC 231	Mathematics of Finance	80
FM/2 #2	ACTSC 371	Introduction to Investments	80
FM/2 #3
FM/2 #4

MFE/3F #1	ACTSC 446/846*	Mathematical Models in Finance	75
MFE/3F #2
MFE/3F #3
MFE/3F #4

MLC #1	ACTSC 232	Life Contingencies 1	75
MLC #2	ACTSC 331	Life Contingencies 2	75
MLC #3	ACTSC 455	Advanced Life Insurance Practice	75
MLC #4

LC #1	ACTSC 331	Life Contingencies 2	75
LC #2
LC #3
LC #4

C/4 #1	ACTSC 431/831*	Loss Models 1	75
C/4 #2	ACTSC 432/832*	Loss Models 2	75
C/4 #3	ACTSC 433/833*	Analysis of Survival Data	75
C/4 #4

Credits for 2014-2015:

SOA/CAS Exam Reference	University Course Reference	Minimum Grade

FM/2 #1	ACTSC 231	80
FM/2 #2	ACTSC 371	80
FM/2 #3
FM/2 #4

MFE/3F #1	ACTSC 446/846*	75
MFE/3F #2
MFE/3F #3
MFE/3F #4

MLC #1	ACTSC 232	75
MLC #2	ACTSC 331	75
MLC #3	ACTSC 455	75
MLC #4

3L/LC #1*	ACTSC 331	75
3L/LC #2*
3L/LC #3*
3L/LC #4*

C/4 #1	ACTSC 431/831*	75
C/4 #2	ACTSC 432/832*	75
C/4 #3	ACTSC 433/833*	75
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	ACTSC 231	80
FM/2 #2	ACTSC 371	80
FM/2 #3
FM/2 #4

MFE/3F #1	ACTSC 445/845*	75
MFE/3F #2	ACTSC 446/846*	75
MFE/3F #3
MFE/3F #4

MLC #1	ACTSC 232	75
MLC #2	ACTSC 331	75
MLC #3
MLC #4

3L #1	STAT 333	75
3L #2	ACTSC 331	75
3L #3	ACTSC 432	75
3L #4

C/4 #1	ACTSC 431/831*	75
C/4 #2	ACTSC 432/832*	75
C/4 #3	ACTSC 433/833*	75
C/4 #4

Credits for 2012-2013:

SOA/CAS Exam Reference	University Course Reference	Minimum Grade

FM/2 #1	ACTSC 231	80
FM/2 #2	ACTSC 371	80
FM/2 #3
FM/2 #4

MFE/3F #1	ACTSC 445	75
MFE/3F #2	ACTSC 446	75
MFE/3F #3
MFE/3F #4

MLC #1	ACTSC 232	75
MLC #2	ACTSC 331	75
MLC #3
MLC #4

3L #1	STAT 333	75
3L #2	ACTSC 331	75
3L #3	ACTSC 432	75
3L #4

C/4 #1	ACTSC 431	75
C/4 #2	ACTSC 432	75
C/4 #3	ACTSC 433	75
C/4 #4

Note:

The CIA will grant candidates credits based on the achievement of the Credit Grade towards Associate (ACIA) and Felllow (FCIA) in 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.

* 8xx accredited courses relate to Master of Mathematics in Actuarial Science.

Note:

The CIA will grant candidates credits based on the achievement of the Credit Grade towards Associate (ACIA) and Felllow (FCIA) membership in 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.

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