Program description
Actuarial mathematics involves the application of mathematical disciplines, particularly probability, statistics, and risk theory, to real-life financial problems involving future uncertainty. This analytical approach helps people and organizations quantify and reduce financial risk in areas as diverse as life, health, disability, marine, property and casualty insurance; annuities; and pension and employee benefits plans.
Program options
Degree options
- B.Sc. Bachelor of Science in Actuarial Mathematics (Honours) - 4 years
- B.Sc. Bachelor of Science Joint Major in Statistics - Actuarial Mathematics (Honours) - 4 years
Interesting courses and unique opportunities
- Actuarial Aspects of Investment Practice
- Economic & Financial Applications
- Life Insurance Products and Employee Benefit Plans
- Introduction to Risk Management
- Financial Derivatives for Actuarial Practice
- Actuarial Modeling Methods
- Managing Insurance Operations in the International Business Environment
- Theory of Interest
Professional opportunities
- Casualty insurers
- Pension and employee benefits consultant
- Educator
- Researcher
- Life and Health Insurers
The program prepares students for careers as professional actuaries or post-graduate studies leading to careers as professional actuaries or actuarial researchers.
Admission requirements & prerequisites
Direct entry option
- Manitoba high school graduation, with five full credits at the Grade 12 level, in courses designated S, G or U.
- A minimum 85% average over the following, with no less than 60% in each course:
- English 40S
- Pre-Calculus Mathematics 40S (recommended) or Applied Mathematics 40S and
- One of: Biology 40S; Chemistry 40S; Computer Science 40S; or Physics 40S
Advanced entry option
24 credit hours in U1 (or an approved bachelors program) This entry option is open to students who have completed a minimum of 24 credit hours of university level study. Specific program requirements will vary; details of these requirements are available on each program’s application page.
High school prerequisites
High school prerequisites: Depending on major, may include Biology 40S, Chemistry 40S, Physics 40S, Pre-Calculus Math or Applied Math 40S
Many programs will require or recommend specific high school courses over and above their admission requirements. These high school prerequisites are not always required to enter the program, but they must be completed to enrol in certain university courses within it. If a student does not have a particular prerequisite when they enter the program, they may complete an equivalent upgrading course at university that will satisfy the prerequisite requirement.
More details on admission requirements, application dates and the application process are available on the Faculty of Science apply for admission page.
What is unique about this program at the U of M?
The Actuarial Mathematics under the Faculty of Science is an interdisciplinary program, which meets the minor requirements for Statistics, Mathematics, and Management with two additional business courses taken from Asper, covers all the leaning objectives of the first 5 professional examinations and qualifies for all three Validation of Educational Experience credits conducted by the Society of Actuaries. The curriculum under the Asper School of Business consists of a total of 120 credit hours including 17 business core (required) courses and a minimum of 4 actuarial major courses.
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