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, put-call parity, arbitrage bounds, binomial model, Black-Scholes formula, risk-neutral 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 life-contingent 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 single-period 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, heavy-tailness; risk measurement: Value-at-Risk, 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 4280’s 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, York’s library has the latest study manuals and textbook to help you prepare for the first five SOA/CAS exams. Complementing your courses with self-study 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.


 

 
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