This exciting course-based graduate program, offered by the Faculty of Science, gives students an opportunity to enhance their understanding and skills in the discipline of actuarial sciences. Over 16 consecutive months, students complete Master's level course work in industry relevant areas, such as derivatives markets, life contingencies, micro- and macro-economics.
As a professional graduate program, alumni of the M.Act.Sc program are well prepared for careers in insurance, financial analysis, pensions, and healthcare industries. Graduates can also participate in the regular offerings of the Society of Actuaries (SOA) exams offered on-site.
Curriculum covers actuarial mathematics as required for the following Society of Actuaries (SOA) professional exams:
-FM (financial mathematics)
-MLC (actuarial Models: Life Contingencies)
-MFE (actuarial Models:Financial Economics)
-C (Construction and evaluation of actuarial models)*
-SOA VEE (validation by educational experience)
*Partial preparation for the SOA "C" exam
Key Learning outcomes
-Describe and apply advanced concepts related of probability, theory of interest, financial derivatives, finance, economics, regression and time series, risk and loss functions
-Critically evaluate current research in actuarial science, develop and support a sustained argument based on evidence, and apply appropriate research methods to problems
-Interpret verbal descriptions and transform them into mathematical insurance models, analyse the models, interpret the models and output and express the solutions in a coherent organized manner
-Recognize and discuss appropriate best actuarial models and create models to solve complex problems