Actuarial Mathematics
Campus Address/General Office: 638 Drake Centre
Telephone: 204 583 4063
Email Address: c.loewen@umanitoba.ca
Website: umanitoba.ca/asper/warren-centre-actuarial-studies-and-research
Actuarial Mathematics
This is an interdisciplinary program leading to a Bachelor of Science (Honours) degree in Actuarial Mathematics offered in collaboration with the Warren Centre for Actuarial Studies and Research of the I.H. Asper School of Business. The program covers mathematical, statistical, financial and economic concepts required to develop skills in the modelling and management of financial risk and contingent events. In the Faculty of Science the program has a greater emphasis on the mathematical and statistical courses than does the Actuarial Mathematics program offered by the I.H Asper School of Business.
The Warren Centre, with the department of Statistics, offers a joint Honours program, please refer to Statistics-Actuarial Mathematics Joint Honours.
Programs
| Degree/Diploma | Years to Completion | Total Credit Hours | Has Co-op Option |
|---|---|---|---|
| Degree/Diploma Actuarial Mathematics, B.Sc. Honours | Years to Completion 4 | Total Credit Hours 120 | Has Co-op Option no |
Courses
Actuarial Studies
A synthesis of macroeconomic issues, quantitative aspects of finance using interest theory, and insurance economics.
The application of calculus to discrete and continuous interest functions. Key topics are the measurement of interest, present and accumulated values, and annuities. May not be held with the former ACT 3320.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: MATH 1232 or the former MATH 1690 or MATH 1700 (B) or MATH 1710 (B).
Equiv To: ACT 3320
Mathematical tools for the quantitative assessment of risk and their application to problems encountered in risk management.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Pre- or corequisite: STAT 2400 or consent of instructor.
Elementary concepts respecting the quantification of the financial impact of contingent payments. May not be held with ACT 3630.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisites: ACT 2120 (C+) and [STAT 2800 or the former STAT 3400 or the former STAT 3500].
Mutually Exclusive: ACT 3630
Intermediate and advanced concepts respecting the quantification of the financial impact of contingent payment. May not be held with ACT 3630.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ACT 3340 (C+).
Mutually Exclusive: ACT 3630
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.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ACT 3130 (C+) or consent of instructor.
A selection of advanced topics of current actuarial interest.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ACT 2120 (C+).
Construction of generalized linear models and regression-based time series models with actuarial applications. May not be held with IDM 4050 when titled "Time Series and Regression Analysis for Management."
PR/CR: A minimum grade of C is required unless otherwise indicated.
Pre- or corequisite: STAT 3100 or the former STAT 3600 or the former STAT 3800.
Mutually Exclusive: IDM 4050
Introduction to useful frequency and severity models, aggregate models, risk measures and construction and selection of parametric and non-parametric models. May not be held with the former ACT 4140 or the former ACT 4630.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Pre- or corequisite: STAT 3100 or the former STAT 3600 or the former STAT 3800.
Mutually Exclusive: ACT 4140, ACT 4630
Introduction to useful credibility theory, insurance and reinsurance coverage, and pricing and reserving for short term insurance coverages. This course covers part of the learning objectives of Short-Term Actuarial Mathematics Exam by the Society of Actuaries (SoA). May not be held with the former ACT 4240 or the former ACT 4630.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ACT 4020 (C+) (or the former ACT 4140(C+)).
Equiv To: ACT 4240
Mutually Exclusive: ACT 4630
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. May not be held with IDM 4050 when titled "Time Series and Regression Analysis for Management".
PR/CR: A minimum grade of C is required unless otherwise indicated.
Pre- or corequisite: ACT 4010 (C+).
Mutually Exclusive: IDM 4050
This course examines stochastic interest rates and tools and techniques for coping with general product issues in asset/liability management.
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.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Pre- or corequisite: ACT 2120 (C+) or consent of instructor.