ACTUARIAL COURSES AT YORK U
``The Actuarial Science program at York University is ranked fourth in Canada by Corporate Knights Magazine ...''
Check the full story in Corporate Knights Magazine, 2010.
Following courses must be taken to prepare for the first five examinations.
EXAM P PROBABILITY
Three terms of Calculus, for example: MATH 1300 3.00, MATH 1310 3.00, MATH 2310 3.00;
two terms of Probability: MATH 2030 3.00 and MATH 2131 3.00; Elementary Statistics:
MATH 1131 3.00.
EXAM FM FINANCIAL MATHEMATICS
Mathematics of investment: MATH 2280 3.00; Financial Economics: MATH 2281 3.00.
EXAM MLC ACTUARIAL MODELS  Life Contingencies
Twi terms of Mathematics of Life Contingencies: MATH 3280 3.00 along with MATH
3281 3.00; Stochastic Processes: MATH 4430 3.00 (or MATH 4431 3.00).
EXAM MFE ACTUARIAL MODELS  Financial Economics
Two terms of Linear Algebra: MATH 1021 3.00 and MATH 2022 3.00;
Financial Economics: MATH 2281 3.00.
EXAM C CONSTRUCTION AND EVALUATION OF ACTUARIAL MODELS
Two terms of Mathematical Statistics: MATH 3131 3.00 and MATH 3132 3.00;
two terms of Mathematical Risk Theory: MATH 4280 3.00 and MATH 4281 3.00;
Stochastic Processes: MATH 4430 3.00 (or MATH 4431 3.00).
BRIEF DESCRIPTIONS OF ACTUARIAL COURSES AT YORK U
MATH 2280 3.00  Mathematics of investments.
MATH 2281 3.00  Financial economics.
A quantitative introduction to financial economics. The topics include
arbitrage pricing theory, forwards and futures, American and European
options, interest rate derivatives, yield curves, arbitrage hedging and
pricing, putcall parity, arbitrage bounds, binomial model, BlackScholes
formula, riskneutral valuation, trinomial model. The course ensures an
adequate preparation for exam MFE of the SOA.
MATH 3280 3.00  Mathematics of life contingencies 1..
Probabilistic introduction to the mathematics of life contingencies. The
course develops a theoretical basis for modeling the future lifetime of
certain financial objects with an emphasis on insurance. Topics include
international actuarial notation, life tables, life statuses, (multivariate)
survival distributions, dependence, multiple decrement theory. The course
ensures an adequate preparation for the MLC exam of the SOA.
MATH 3281 3.00  Mathematics of life contingencies 2.
Intermediate level course on the mathematics of life contingencies. The
course builds on MATH 3280 and develops theoretical basis for pricing and
supporting lifecontingent products. Topics include economics of insurance,
general insurances and annuities, (benefit) premiums and reserves, analysis
of reserves, Hattendorf's theorem. The course ensures an adequate
preparation for the MLC exam of the SOA.
MATH 4280 3.00  Risk theory  loss models and risk
measures.
A comprehensive introduction to the singleperiod mathematical risk theory. The course
explores approaches to modeling and measuring (insurance) risks. Topics include
(univariate) distribution theory: exponential dispersion models, elliptical distributions,
(a,b,k) class, heavytailness; risk measurement: ValueatRisk, Expected Shortfall,
coherency; policy modifications: deductibles, (co)insurance, limits. The course ensures
an adequate preparation for the C exam of the SOA.
MATH 4281 3.00  Risk theory  ruin and credibility.
Alternative to MATH 4280s perspective on mathematical risk theory. The
course on the one hand introduces a dynamic approach to risk
measurement, and on the other develops the notion of prospective
experience rating. Topics include probability of ruin, adjustment
coefficient, Lunberg`s inequality, credibility theory, simulation. The course
ensures an adequate preparation for exam C of the SOA.
When planning your courses you should take into account the SOA/CAS examinations.
You should try to take an exam right after you took the corresponding course.
A fair objective should be to aim at three to four exams by the time you graduate.
In addition to the courses, Yorks library has the latest study manuals and textbook
to help you prepare for the first five SOA/CAS exams. Complementing your courses with
selfstudy is crucial to pass these first exams. Remaining exams are usually written
during the first years within a company. Insurance companies often pay and give you
time to complete your associateship requirements.
