Course Requirements

For details on course requirements, consult the Faculty of Arts & Science calendar. Some course descriptions include course outlines or additional information on the course instructor's web page. You can also use the U of T Course Finder or the Faculty of Arts & Science timetable to learn more about courses.

Enroll for courses using ACORN.

Statistics

Pre- and co-requisites are designed to ensure that you have the appropriate preparation for your courses. They are strictly enforced. However, we consider exceptions for students who have taken an equivalent course at another university. Please note that previously taken courses that are exclusions to pre- or co-requisite courses are not always equivalent to required courses and may not be allowed.

If you have any questions regarding pre- or co-requisites, please send an email to ug.statistics@utstat.utoronto.ca.

For information on what courses to take in your first year, visit Enrolment Requirements & First-Year Courses.

Courses differ in their level of mathematical rigor – with STA257H1 and STA261H1 being the most rigorous. Taking courses with greater mathematical rigor will give you the greatest flexibility when choosing your upper-year courses. Please note that not all second-year statistics course choices are allowed for all statistics programs of study.

Have a look at the course recommendations and tips we gathered to help you navigate the process of selection your second-year statistics courses.

You can also visit the Faculty of Arts & Science calendar (select your program under "Statistical Sciences Programs") to learn which courses are required for your program.

For assistance and advice regarding your program and courses, please direct your questions as follows: 

 

Have a look at our student resources for more assistance and advice.

 

Actuarial Science

For details on program requirements, consult the Faculty of Arts & Science calendar.

Note this is only for “new” specialist students (those who enrolled in ACT specialist program in 2020 and will start the program from Fall 2020). The following does NOT apply to students who enrolled in the ACT specialist in or before 2019.

Program Structure

  1. The program will be structured as an “integrated learning requirement” which is mandatory for students enrolled in the program. This way international students can also get the work visa to do internships. 
  2. The PE mandatory requirement is comprised of a PE course (offered in the Fall) and a practicum component. The PE course should be taken in the fall semester of the 3rd year, although 4th year specialist students can enroll too. This means you should declare your Act-Sci Specialist as early as possible!!
  3. The practicum component should be fulfilled with a semester-long internship (longer is fine). Students are ultimately responsible for securing the internship (i.e. internship is NOT guaranteed by the department), however, the department will provide ample support. 

Support for our Specialist students under the Professional Experience (PE) Program includes:

  1. Invited speakers series (from every major field of actuarial science)
  2. Professional skill workshops (business writing, career planning, networking skills, resume workshop, interview skills)
  3. Networking events to connect students with industry professionals
  4. Ongoing Support from Megan Whitehead’s office (within our department)

Internship/Work Term in the Specialist PE Component
We will allow you to complete the work term requirement in Winter 3rd year, Summer 3rd year, Fall 4th year, or Winter 4th year.
For students who really cannot secure a work term, alternative arrangements may be made to fulfill the experiential learning mandate of the program upon discussion with the Associate Chair and Internship Coordinator (e.g. an extra 4th year practicum courses)
If you are an international student, with the new PE mandatory component, you will be able to secure a work permit to take an internship in the above mentioned semesters.
The Faculty of Arts and Science will determine an ancillary fee to cover the extra cost of the new PE program. Students should pay attention to the fee schedule published by FAS before making the enrollment decision. 
Our objective is that you can still complete your degree in four years. But this will require careful course planning on your part. Please see our Recommended Pathways for Specialist Students that wish to Graduate in 4 years with an Internship.

UofT course mapping:
VEE: 

  1. Economics: ECO101+102
  2. Accounting and Finance: ACT349, MGT201/RSM219
  3. Mathematical Statistics: STA261
  • Exam Probability (P): STA257
  • Exam Financial Mathematics (FM): ACT240, ACT245
  • Exam Investment and Financial Markets (IFM): ACT245, ACT370, ACT349
  • Exam Long-term actuarial mathematics (LTAM): ACT247, ACT348, ACT455, ACT452*, ACT350 (NEW)
  • Exam Short-term actuarial mathematics (STAM): ACT451, ACT452, ACT466, ACT371, ACT372
  • Exam Statistics for Risk Modeling (SRM): STA261, STA302, STA314 (NEW), STA457

*ACT452 is most related to STAM exam. However, Chapter 12 of Loss Model (now a study note for LTAM exam available on SOA website) is also covered in this course.
Note: Students should seriously consider taking ACT451 and ACT452 in their third year. You can now take ACT348 and ACT350/STA347 at the same time with ACT451 in your third year (of course, if you have met the prerequisites which are only 2nd year courses). 

https://pathways.soa.org/asa
https://pathways.soa.org/fsa

CAS has also published their 2018 new curriculum:
https://www.casact.org/cms/files/2018_Changes_to_CAS_Credentialing_Requirements.pdf
Most notable changes are the addition of Modern Actuarial Statistics I (effective spring 2018) and Modern Actuarial Statistics II (effective fall 2018).

  • Exam MAS I: ACT451, ACT452, STA261, STA 302, ACT350 (NEW), STA 457
  • Exam MAS II: ACT466, STA 302, STA314 (NEW)

“The UAP allows candidates to enjoy a rich and rewarding university experience that will make travel time to the Associate (ACIA) and Fellow (FCIA) designations more predictable, with minimal duplication of effort, while leveraging the strength of Canadian universities.”

The CIA grants UAP credits to candidates for the following Society of Actuaries (SOA)/Casualty Actuarial Society (CAS) exams: FM/2, IFM/MFE/3F, LTAM/MLC, and STAM/C/4. 

Great news - From 2019-2020 academic year, credits will also be given to Exam P and Exam SRM!

CIA credits are currently 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 
  • Actuarial Society of South Africa (ASSA): AMASSA, FASSA 
  • American Academy of Actuaries (AAA): MAAA 
  • It is currently NOT recognized by SOA.

UofT’s UAP courses: https://www.cia-ica.ca/membership/university-accreditation-program-home/accredited-universities/accredited-university-detail?pav_universityid=06f6b138-61e5-e511-80b9-00155d111030

The following courses taught by FCIAs, FSAs, or FCAS from the profession can help students gain practical knowledge from various practice tracks and potentially improve competitiveness when applying for internship and employment:

  • Property and Casualty (P&C): ACT371, ACT372, ACT471
  • Life and annuity (and AXIS software): ACT475
  • Pension: ACT470
  • Professional Communication (using case studies in various practice tracks): ACT473

Pre- and co-requisites are designed to ensure that you have the appropriate preparation for your courses. They are strictly enforced. However, we consider exceptions for students who have taken an equivalent course at another university. Please note that previously taken courses that are exclusions to pre- or co-requisite courses are not always equivalent to required courses and may not be allowed.

If you have any questions regarding pre- or co-requisites, please contact our actuarial science undergraduate administrator at ug.actsci@utstat.utoronto.ca. Check office hours.

For information on what courses to take in your first year, visit Enrolment Requirements & First-Year Courses.

Have a look at the Faculty of Arts & Science calendar (select your program under "Actuarial Science Programs") to learn which courses are required for your program.

Courses in the U of T Actuarial Science program are designed to help prepare students for a career as an actuary. However, ACT230H1 (Mathematics of Finance for Non-Actuaries) is a course that would be of interest to a wide audience.

This course covers basic financial topics that are of value to all students, since almost every student will from time to time be covered by insurance and pension plans.

For assistance and advice regarding your course work and studies, please consult the following:

Have a look at our student resources for more assistance and advice.