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University of Manitoba Actuarial Courses
For more details on each program's course requirements, click one of the links below:
Legend for table:
* - indicates that the course can be used as one of the five major courses in the business program
** - indicates that the course (under "Prerequisites") can be a prerequisite or a co-requisite
Note: For students admitted to the Asper School of Business prior to September 2023, only four major courses from the list below are required
(must also be marked with *).
Actuarial Courses | Official University Course Description | Prerequisite(s) | Covers Content for Actuarial Exam | Required for Actuarial Math (Science program) | Required for Statistics - Actuarial Joint | *Actuarial Math (Business program) |
|---|---|---|---|---|---|---|
ACT 2120 - Interest Theory | "The application of calculus to discrete and continuous interest functions. Key topics are the measurement of interest, present and accumulated values, and annuities." | MATH 1232 or the former MATH 1690 or MATH 1700 (B) or MATH 1710 (B). | Exam FM | X | X | * |
ACT 2210 - Introduction to Risk Management | "Mathematical tools for the quantitative assessment of risk and their application to problems encountered in risk management." | **STAT 2400 (D) or consent of instructor. | Exam P (very small portion) | X | X | |
ACT 3130 - Actuarial Models 1 | "Elementary concepts respecting the quantification of the financial impact of contingent payments." | ACT 2120 (C+) and [STAT 2800 (D) or the former STAT 3400 (D) or the former STAT 3500 (D)]. | SOA Exam FAM | X | X | * |
ACT 3230 - Actuarial Models 2 | "Intermediate and advanced concepts respecting the quantification of the financial impact of contingent payment." | ACT 3340 (C+). Although it is not officially stated, you should also take ACT 3130 before. | SOA Exam ALTAM | X | X | * |
ACT 3340 - Valuations for Actuarial Practice | "Introduction of valuation practices in actuarial science, including rational valuation of derivative securities, valuation for a life insurance policy, and ratemaking and reserving for property and casualty insurance." | ACT 3130 (C+) or consent of instructor. | SOA Exam FAM | X | X | * |
ACT 4010 - Regression Modeling in Actuarial Science | "Construction of generalized linear models and regression-based time series models with actuarial applications." | **STAT 3100 (D) or the former STAT 3600 (D) or the former STAT 3800 (D). | SOA Exam SRM | X | * | |
ACT 4020 - Short Term Actuarial Mathematics I | "Introduction to useful frequency and severity models, aggregate models, risk measures and construction and selection of parametric and non-parametric models." | **STAT 3100 (D) or the former STAT 3600 (D) or the former STAT 3800 (D). | SOA Exam FAM | X | X | * |
ACT 4030 - Short Term Actuarial Mathematics II | "Introduction to useful credibility theory, insurance and reinsurance coverage, and pricing and reserving for short term insurance coverages." | ACT 4020 (C+) (or the former ACT 4140(C+)). | SOA Exam ASTAM | X | X | * |
ACT 4040 - Time Series and Statistical Learning in Actuarial Science | "A variety of topics are introduced, including regression-based time series models, basic ideas of statistical learning (supervised versus unsupervised, regression versus classification, model accuracy assessment), and some key concepts, models and methods of principle components analysis, decision trees as well as cluster analysis. All models and methods are illustrated with extensive examples from business and management." | **ACT 4010 (C+). | SOA Exam SRM | X | * | |
ACT 4060 - Actuarial Aspects of Investment Practice | "This course examines stochastic interest rates and tools and techniques for coping with general product issues in asset/liability management." | FIN 2010 (C+), FIN 2200 (C+), or FIN 2201 (C+). | No exam in particular, but contains lots of practical information and applications. | X | X | |
ACT 4160 - Introduction to Property and Casualty Insurance Industry | "This course introduces a variety of topics on basic techniques for ratemaking in property and casualty insurance practice, including ethics, exposure, classification, credibility, implementation, loss adjustment, premium, etc." | **ACT 2120 (C+) or consent of instructor. | CAS Exam 5 (half of the exam) | X | X |
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