Actuarial Science Courses

Key to Course Descriptions

For Distribution Requirement purposes, ACT courses are classified as Science courses

| Course Winter Timetable |

ACT240H1
Mathematics of Investment & Credit       26L, 13T

Interest, discount and present values, as applied to determine prices and values of annuities, mortgages, bonds, equities; loan repayment schedules and consumer finance payments in general; yield rates on investments given the costs on investments.
Prerequisite: MAT133Y1/MAT135Y1/MAT137Y1/MAT157Y1

ACT245H1
Financial Principles for Actuarial Science I       26L, 13T

Term structure of interest rates, cashflow duration, convexity and immunization, forward and futures contracts, interest rate swaps, introduction to investment derivatives and hedging strategies.
Prerequisite: ACT240H1 (no minimum grade required)

ACT247H1
Introductory Life Contingencies        39L

Probability theory applied to survival and to costs and risks of life assurances, life annuities, and pensions; analysis of survival distributions; international actuarial notation.
Prerequisite: ACT240H1; MAT137Y1/MAT157Y1; STA257H1
Co-requisite: MAT237Y1

ACT348H1
Advanced Life Contingencies        39L

Determination of benefit premium and benefit reserves for life insurance and annuities; analysis of insurance loss random variables; theory of life contingencies for multiple lives.
Prerequisite: ACT240H1 (minimum grade C); ACT245H1 (minimum grade C); ACT247H1 (minimum grade C); (STA257H1,STA261H1); MAT237Y1

ACT349H1
Corporate Finance for Actuarial Science Mathematics        26L, 13T

Actuarial applications of financial mathematics and economics.
Prerequisite: ACT240H1 (minimum grade C); ACT245H1 (minimum grade C); ACT247H1 (minimum grade C); (STA257H1, STA261H1); MAT237Y1; ECO206Y1

Exclusion: ECO358H1, ECO359H1, MGT331Y1, MGT337Y1

ACT370H1
Financial Principles for Actuarial Science II        39L

Mathematical theory of financial derivatives, discrete and continuous option pricing models, hedging strategies and exotic option valuation.
Prerequisite: ACT240H1 (minimum grade C); ACT245H1 (minimum grade C); ACT247H1 (minimum grade C); (STA257H1,STA261H1); MAT237Y1

ACT398H0/399Y0
Independent Experiential Study Project

An instructor-supervised group project in an off-campus setting. See page 45 for details.
This is a Science course.

ACT451H1
Loss Models        39L

Loss models and their estimation, mixture distributions, compound distributions, partial insurance, stop-loss insurance, censoring and truncation of data, product-limit estimation, Cox proportional hazard model.
Pre- or co-requisite: ACT348H1; STA347H1

ACT455H1
Advanced Topics in Actuarial Science        39L

Advanced life contingencies, multiple decrement theory, insurance policy expenses, multi-state transition models, Poisson processes.
Prerequisite: ACT348H1, ACT451H1; STA347H1

ACT460H1
Stochastic Methods for Actuarial Science        39L

Applications of the lognormal distribution, Brownian motion, geometric Brownian motion, martingales, Ito's limma, stochastic differential equations, interest rate models, the Black-Scholes model, volatility, value at risk, conditional tail expectation.
Prerequisite: ACT370H1; STA347H1

ACT466H1
Credibility and Simulation        39L

Limited fluctuation credibility, Bayesian estimation, Buhlmann credibility, non-parametric credibility methods, inverse transformation simulation method, specialized simulation methods for the normal and lognormal distributions, Monte Carlo methods, the bootstrap method.
Prerequisite: ACT451H1; STA347H1

ACT470H1
Advanced Pension Mathematics        39L

Topics in pension mathematics; funding methods for pension plans. (Offered in alternate years)
Prerequisite: ACT348H1 or permission of instructor
Corequisite: ACT455H1

ACT471H1
Actuarial Applications of Finance        39L

Assets, liability and investment management for pension plans. (Offered in alternate years)
Prerequisite: ACT349H1/MGT 331Y1/MGT337Y1/(ECO358H1, ECO359H1) or permission of instructor

ACT472H1
Issues in Actuarial Practice        39L

Practical issues that arise for insurance, pension and casualty actuaries.
Prerequisite: ACT348H1

ACT496H1/497H1
Readings in Actuarial Science        TBA

Independent study under the direction of a faculty member. Persons wishing to take this course must have the permission of the Undergraduate Secretary and of the prospective supervisor.

ACT498Y1/499Y1
Readings in Actuarial Science        TBA

Independent study under the direction of a faculty member. Persons wishing to take this course must have the permission of the Undergraduate Secretary and of the prospective supervisor.

African Studies: see New College