Actuarial Science

Actuarial science is about assessing risk, mainly used in the insurance industry.  While we do not offer a degree program in actuarial science, a good preparation in actuarial science can be achieved through one of our Mathematics and Finance programs or our Honors Statistics program.

Actuaries are accredited by the Society of Actuaries.  The first level of accreditation is the Associate of the Society of Actuaries (ASA), which includes passing five actuarial exam modules and obtaining validation of educational experience (VEE) in three areas.

It is possible for students to take some of the exam modules while completing their degree.  The following courses at the University of Alberta are helpful in preparing for the exam modules:

Exam Module
University of Alberta Courses
Probability STAT 265, 266
Financial Mathematics
MATH 253, FIN 301
Models for Financial Economics
STAT 453, MATH 356, 357
Models for Life Contingencies
STAT 353, 471, and additional topics through self-study
Construction and Evaluation of Actuarial Models
STAT 432, 453, and additional topics through self-study

VEE qualifications can be achieved by obtaining a minimum of a grade of B- in specific courses, as follows:

VEE Area
University of Alberta Courses
Economics ECON 101 (or 281) and ECON 102 (or 282)
Corporate Finance
FIN 301
Applied Statistical Methods
STAT 378 and STAT 479, or STAT 378 and MGTSC 405, or ECON 399

For more information on the requirements to obtain the Associate of the Society of Actuaries (ASA) designation, visit the ASA pages of the Society of Actuaries website.

For more information about the actuarial profession in general, visit the Be an Actuary website.