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@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.

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:

  • For questions regarding your degree or course selection: contact your college registrar's office
  • For Statistics administrative and program issues: contact the Statistics Undergraduate Office at ug.statistics@utoronto.ca or schedule a meeting with the Statistics Undergraduate Office.
  • For academic advising for Statistics programs of study: contact the Associate Chair, Undergraduate Studies in Statistics at ugchair.statistics@utoronto.ca or schedule a meeting with the Associate Chair for Undergraduate Studies in Statistics.
  • For questions related to a specific course: contact your TA or course instructor (please see your syllabus for your instructor contact information).
  • For help learning the course material: contact your instructor, visit instructor and TA office hours and/or the Statistics Aid Centres.

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.

If you are in your third or fourth year of study in our actuarial science programs (i.e. you have completed ACT240+245+247 requirements), please consider enrolling ACT390 professional experience course. All ACT Specialist students are required to complete this course before graduation (as well as completing an internship after taking ACT390). We now also have limited spots for ACT Major students to enroll in ACT390. Please note that Internship is still NOT a requirement for ACT Major students.

We prepare students for internships and future careers in ACT390, including weekly industry panels, resume/networking workshops, mock interviews, industry networking opportunities, and an embedded, friendly, case competition. If you plan on enrolling in ACT390 in Fall 2023 semester, please complete the following intake form at the time of your enrollment:

Intake form for the ACT 390 class

Please also note ACT390 does not carry credit weight and is evaluated as Credit/No Credit. No tuition fee is associated, however a $625 ancillary fee will be assessed towards Professional Experience preparatory program costs.

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). 

SOA Education and Membership

 

CAS has also published their 2018 new curriculum:
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)

University of Toronto's actuarial science programs are fully accredited by the Canadian Institute of Actuaries (CIA) under the University Accreditation Program (UAP). 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.

Great News! UAP has moved away from the course-by-course accreditation method and is now based on a program accreditation method. Under the new credentialing pathway, to obtain ACIA (Associate of CIA) professional credential, students need to:

  1. Complete a degree from an actuarial program (ACT Specialist or Major) at University of Toronto and pass a list of mandatory courses. No minimum course grade or GPA is required as long as students pass all the mandatory courses. The full list of UofT’s 16 mandatory courses are: ACT240, ACT245, ACT247, ACT348, ACT349, ACT370, ACT451, ACT452, ACT466, STA257/STA237, STA261/STA238, STA302, STA314, ECO101, ECO102, MGT201/RSM219.
  2. Complete the ACIA Modules available from CIA.
  3. Complete an open-book, online ACIA Capstone Exam available from CIA.

 

Find more details on the new pathway for students.

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@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.