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Academic Calendar 2017 UNDERGRADUATE COURSE INFORMATION Actuarial Science (S)
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TABLE OF CONTENTS




Actuarial Science (S)
Actuarial Science 1021A/B - Introduction to Financial Security Systems
The nature and cause of financial security and insecurity; public, private and employer programs and products to reduce financial insecurity, including social security, individual insurance and annuities along with employee pensions and benefits.
Antirequisite(s): The former Actuarial Science 2421A/B.
Prerequisite(s):
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 0.5 course.
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Actuarial Science 2053 - Mathematics for Financial Analysis
Simple and compound interest, annuities, amortization, sinking funds, bonds, bond duration, depreciation, capital budgeting, probability, mortality tables, life annuities, life insurance, net premiums and expenses. Cannot be taken for credit in any module in Statistics or Actuarial Science.
Antirequisite(s): Actuarial Science 2553A/B.
Prerequisite(s): Mathematics 0110A/B or Grade 12U Advanced Functions and Introductory Calculus (MCB 4U) or equivalent, and 1.0 course or two 0.5 courses from Applied Mathematics, Calculus, Linear Algebra, or Mathematics.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 1.0 course.
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Actuarial Science 2427A/B - Life Contingencies I
Models for the time until death, single life annuity and life insurance present values and their probability distributions.
Antirequisite(s): The former Actuarial Science 3427A/B.
Prerequisite(s): A minimum mark of 60% in each of Actuarial Science 2553A/B, either Calculus 2402A/B or Calculus 2502A/B, and Statistical Sciences 2857A/B (or the former Statistical Sciences 2657A). Restricted to students enrolled in any Actuarial Science module.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 1 tutorial hour, 0.5 course.
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Actuarial Science 2553A/B - Mathematics of Finance
Time value of money, accumulation and discount functions, effective rates of interest and discount and present values, as applied to annuities and other financial products, and/or applications including loan repayment schedules and methods.
Antirequisite(s): Actuarial Science 2053.
Prerequisite(s): A minimum mark of 60% in Calculus 1501A/B or Applied Mathematics 1413, or Calculus 1301A/B with a minimum mark of 85%.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 1 tutorial hour, 0.5 course.
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Actuarial Science 3424A/B - Loss Models I
Insurance loss frequency and severity models; aggregate loss models; risk measures; ruin theory; simulation.
Antirequisite(s): The former Actuarial Science 4424A/B.
Prerequisite(s): A minimum mark of 60% in Statistical Sciences 3657A/B. Restricted to students enrolled in any Actuarial Science module, or those registered in the Honors Specialization module in Statistics or the Honors Specialization in Financial Modelling module.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 0.5 course.
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Actuarial Science 3429A/B - Life Contingencies II
Single life annuity and life insurance loss random variables and their distributions, with applications to the analysis of benefit premiums and reserves.
Antirequisite(s):
Prerequisite(s): A minimum mark of 60% in each of Actuarial Science 2427A/B (or the former Actuarial Science 3427A/B), Statistical Sciences 2858A/B.
Corequisite(s): Statistical Sciences 3657A/B.
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 1 tutorial hour, 0.5 course.
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Actuarial Science 3431A/B - Life Contingencies III
Analysis of probability distributions and present values associated with multiple life models, multiple decrement models and more general multi-state models.
Antirequisite(s): The former Actuarial Science 4422A/B.
Prerequisite(s): A minimum mark of 60% in Actuarial Science 3429A/B and in Statistical Sciences 3657A/B. Restricted to students enrolled in any Actuarial Science module.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 0.5 course.
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Actuarial Science 4426F/G - Actuarial Practice I
Introduction to the major areas and issues of actuarial practice, including insurance and annuity product design, pricing and valuation, analysis of the cost of pensions and other employee benefits, asset liability management and professionalism.
Antirequisite(s):
Prerequisite(s): A minimum mark of 60% in Actuarial Science 2427A/B (or the former Actuarial Science 3427A/B). Restricted to students who have completed all courses specifically mentioned in the Major in Actuarial Science module.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 0.5 course.
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Actuarial Science 4823A/B - Survival Analysis
Survival models, nonparametric estimation of the survival function, one and two or more sample hypothesis tests, inference for semiparametric regression models, inference for parametric regression models.
Antirequisite(s):
Prerequisite(s): A minimum mark of 60% in Statistical Sciences 3858A/B.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 0.5 course.
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Actuarial Science 4824A/B - Loss Models II
Selection, calibration, and validation of parametric models for insurance losses; credibility theory; extreme value distributions, multivariate loss models, and their estimation.
Antirequisite(s):
Prerequisite(s): A minimum mark of 60% in Statistical Sciences 3858A/B.  Restricted to students enrolled in any Actuarial Science module, or those registered in the Honors Specialization module in Statistics or the Honors Specialization in Financial Modelling module.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 0.5 course.
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Actuarial Science 4950A/B - Selected Topics in Actuarial Science
A course description will be available from the department at the time of registration.
Antirequisite(s):
Prerequisite(s): A minimum mark of 60% in Actuarial Science 2427A/B (or the former Actuarial Science 3427A/B) and permission of the department.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 0.5 course.
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Actuarial Science 4960F/G - Selected Topics in Actuarial Science
A course description will be available from the department at the time of registration.
Antirequisite(s):
Prerequisite(s): A minimum mark of 60% in Actuarial Science 2427A/B (or the former Actuarial Science 3427A/B) and permission of the department.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 0.5 course.
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Actuarial Science 4997F/G/Z - Project in Actuarial Science
The student will work on a project under faculty supervision. The project may involve an extension, or more detailed coverage, of material presented in other courses. Credit for the course will involve a written report as well as an oral presentation.
Antirequisite(s): Financial Modelling 4998F/G/Z, Statistical Sciences 4999F/G/Z, the former Statistical Sciences 4998F/G/Z.
Prerequisite(s): Registration in the fourth year of the Honors Specialization in Actuarial Science, Statistics, or Financial Modelling. Students must have a modular course average of at least 80% and must find a faculty member to supervise the project.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 0.5 course.
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Academic Calendar 2017 UNDERGRADUATE COURSE INFORMATION Actuarial Science (S)
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