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Actuarial Science
| Actuarial Science 153, Mathematics for Financial Analysis | |
| | Description: 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 honors program in statistics or actuarial science. | | Antirequisite(s): Actuarial Science 223a, the former Actuarial Science 224b | | Prerequisite(s): Mathematics 012a/b, OAC Calculus, 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. | | 3 lecture hours, 1.0 course. | | back to top |
| Actuarial Science 221a/b, Introduction to Financial Security Systems | |
| | Description: The nature and cause of financial security, insecurity, public, private and employer programs and products to reduce financial insecurity, including social security, individual insurance and annuities, and employee pensions and benefits. | | Pre- or Corequisite(s): Actuarial Science 223a or Actuarial Science 153. | | 3 lecture hours, 0.5 course. | | back to top |
| Actuarial Science 223a, Mathematics of Finance | |
| | Description: 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 153. | | Prerequisite(s): A minimum mark of 60% in Calculus 051a/b or Applied Mathematics 026, or Calculus 081a/b (with a minimum mark of 60% if completed by August 2003, or 85% if completed afterwards). | | 3 lecture hours, 1 tutorial hour, 0.5 course. | | back to top |
| Actuarial Science 225a/b, Corporate Finance | |
| | Description: 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): Actuarial Science 153 and the former Actuarial Science 224b. | | Prerequisite(s): A minimum mark of 60% in Actuarial Science 223a. | | 3 lecture hours, 1 tutorial hour, 0.5 course. | | back to top |
| Actuarial Science 327a/b, Contingencies I | |
| | Description: Models for the time until death, single life annuity and life insurance present values and their probability distributions. | | Prerequisite(s): A minimum mark of 60% in each of Actuarial Science 223a, Calculus 251a/b, Statistical Sciences 257a, Statistical Sciences 259a/b and 260a/b or the former Statistical Sciences 255. Restricted to students enrolled in any Actuarial Sciences module or 3rd year of any Honors program in Actuarial Science. | | 3 lecture hours, 1 tutorial hour, 0.5 course. | | back to top |
| Actuarial Science 329b, Contingencies II | |
| | Description: Single life annuity and life insurance loss random variables and their distributions with applications to the analysis of benefit premiums and reserves. | | Prerequisite(s): A minimum mark of 60% in Actuarial Science 327a/b and in either Statistical Sciences 259a/b or the former Statistical Sciences 255. | | 3 lecture hours, 1 tutorial hour, 0.5 course. | | back to top |
| Actuarial Science 422a/b, Multi-State Models | |
| | Description: Analysis of probability distributions and present values associated with multiple life models, multiple decrement models and more general multi-state models. | | Prerequisite(s): A minimum mark of 60% in Actuarial Science 329b and in either Statistical Sciences 259a/b or the former Statistical Sciences 255. Restricted to students who have completed all courses specifically mentioned in the Major in Actuarial Science module. | | 3 lecture hours, 0.5 course. | | back to top |
| Actuarial Science 423a/b, Survival Analysis | |
| | Description: 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. | | Prerequisite(s): A minimum mark of 60% in Statistical Sciences 358b. | | 3 lecture hours, 0.5 course. | | back to top |
| Actuarial Science 424a/b, Loss Models I | |
| | Description: Selection, calibration, validation, and application of frequency and severity models for insured losses. | | Prerequisite(s): A minimum mark of 60% in Statistical Sciences 358b. Restricted to students who have completed all courses specifically mentioned in the Major in Actuarial Science module. | | 3 lecture hours, 0.5 course. | | back to top |
| Actuarial Science 426F/G, Actuarial Practice I | |
| | Description: 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. | | Prerequisite(s): A minimum mark of 60% in Actuarial Science 327a/b. Restricted to students who have completed all courses specifically mentioned in the Major in Actuarial Science module. | | 3 lecture hours, 0.5 course. | | back to top |
| Actuarial Science 427a/b, Actuarial Practice II | |
| | Description: Current and emerging issues in actuarial practice, standards of practice, social security programs, demography and its impact on actuarial practice. | | Prerequisite(s): A minimum mark of 60% in Actuarial Science 426a/b. Restricted to students who have completed all courses specifically mentioned in the Major in Actuarial Science module. | | 3 lecture hours, 0.5 course. | | back to top |
| Actuarial Science 442a/b, Loss Models II | |
| | Description: Limited fluctuation credibility, greatest accuracy credibility, empirical Bayes parameter estimation, classical surplus process, adjustment coefficient, probability of ruin, maximal aggregate loss. | | Prerequisite(s): A minimum mark of 60% in both Statistical Sciences 325a/b and 358b. Restricted to students who have completed all courses specifically mentioned in the Major in Actuarial Science module. | | 3 lecture hours, 0.5 course. | | back to top |
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