Actuarial Science (S)

Note:  In order to find a course in the new 4 digit numbering system using an old 3 digit number, please refer to the conversion list below. Before registering for courses with the new 4 digit numbering system, please ensure that you have not previously taken the course in its 3 digit form.

 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.
 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):
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.
 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.
 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):
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%, or the former Calculus 081a/b with a minimum mark of 60% if completed by August 2003.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 1 tutorial hour, 0.5 course.
 Actuarial Science 2555A/B - Corporate Finance
Bond and stock pricing, financial market overview, inflation and interest rates, risk and return, discounted cashflow and project analysis, capital budgeting, cost of capital, market efficiency, corporate financing.
Antirequisite(s):
Prerequisite(s):
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 1 tutorial hour, 0.5 course.
 Actuarial Science 2557A/B - Financial Markets and Investments
Basic securities, financial market conventions, swaps, arbitrage pricing and hedging of forwards/futures, equity options, bonds, theories of the term structure, factors affecting option prices, arbitrage relations of calls and puts, trading strategies involving options, binomial model for stock prices, option pricing by replication under the binomial model.
Antirequisite(s):
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.
 Actuarial Science 3424A/B - Loss Models I
Selection, calibration, validation, and application of frequency and severity models for insured losses.
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 Honours Specialization module in Statistics or the Honours Specialization in Financial Modelling module.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 0.5 course.
 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):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 1 tutorial hour, 0.5 course.
 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.
 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 or Actuarial Science 327a). 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.
 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.
 Actuarial Science 4824A/B - Loss Models II
Limited fluctuation credibility, greatest accuracy credibility, empirical Bayes parameter estimation, classical surplus process, adjustment coefficient, probability of ruin, maximal aggregate loss.
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 Honours Specialization module in Statistics or the Honours Specialization in Financial Modelling module.
Corequisite(s):
Pre-or Corequisite(s):
Extra Information: 3 lecture hours, 0.5 course.
 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.
 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.