Actuarial Science Courses |
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First Year Seminars The 199Y1 and 199H1 seminars are designed to provide the opportunity to work closely with an instructor in a class of no more than twenty-four students. These interactive seminars are intended to stimulate the students’ curiosity and provide an opportunity to get to know a member of the professorial staff in a seminar environment during the first year of study. Details here. ACT230H1 Introduction to financial mathematics, interest measurement, present value calculation, annuity valuation, loan amortization, consumer financing arrangements, bond valuation. The course is aimed at a general audience who will not be continuing in the actuarial science program. ACT240H1 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. ACT245H1 Term structure of interest rates, cashflow duration, convexity and immunization, forward and futures contracts, interest rate swaps, introduction to investment derivatives and hedging strategies. ACT247H1 Probability theory applied to survival and to costs and risks of life assurances, life annuities, and pensions; analysis of survival distributions; international actuarial notation. ACT348H1 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. ACT349H1 Actuarial applications of financial mathematics and economics. ACT370H1 Mathematical theory of financial derivatives, discrete and continuous option pricing models, hedging strategies and exotic option valuation. ACT398H0 ACT399Y0 An instructor-supervised group project in an off-campus setting. Details here. ACT451H1 Loss models policy adjustments, frequency and severity models, compound distributions. ACT452H1 Estimation of Loss and Survival Models using complete, censored and truncated data. Product-Limit estimation, empirical estimation, moment and percentile estimation, maximum likelihood estimation and simulation models. ACT455H1 Advanced life contingencies, multiple decrement theory, insurance policy expenses, multi-state transition models, Poisson processes. ACT460H1 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. ACT466H1 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. ACT470H1 Topics in pension mathematics; funding methods for pension plans. (Offered in alternate years) ACT471H1 Assets, liability and investment management for pension plans. (Offered in alternate years) ACT472H1 Practical issues that arise for insurance, pension and casualty actuaries. ACT496H1 ACT497H1 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 ACT499Y1 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. |