Actuarial Mathematics
Campus Address/General Office: 640 Drake Centre
Telephone: 204 474 6412
Email Address: warrencentre@umanitoba.ca
Website: www.umanitoba.ca/actuarial
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 and probability 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 MATH 1690 or MATH 1700 (B) or MATH 1710 (B). Pre- or corequisite: [MATH 2720 or MATH 2721(D)] or [MATH 2731 or the former MATH 2750 or MATH 2730 (D)] and STAT 2400 (D).
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.
Prerequisite or co-requisite: STAT 2400 (D) 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 (D) or the former STAT 3400 (D) or the former STAT 3500 (D)].
Mutually Exclusive: ACT 3630
Intermediate and advanced concepts respecting the quantification of the financial impact of contingent payments. Not to be held with ACT 3630.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ACT 3130 (C+).
Mutually Exclusive: ACT 3630
Introduction of interest rate models and rational valuation of derivative securities.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ACT 2020 (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 3230 (D).
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 co-requisite: STAT 2800 (D) or the former STAT 3400 (D) or the former STAT 3500 (D).
Mutually Exclusive: IDM 4050
Introduction to useful frequency and severity models, aggregate models, coverage modifications, risk measures and construction and selection of parametric models. 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 4140 or the former ACT 4630.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Pre- or co-requisite: STAT 2800 (D) or the former STAT 3400 (D) or the former STAT 3500(D).
Equiv To: ACT 4140
Mutually Exclusive: 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
This course examines stochastic interest rates and tools and techniques for coping with general product issues in asset/liability management. May not be offered every year. Students may not hold credit for both ACT 4060.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisites: FIN 2200 (C+).
The introduction to the Property and Casualty Insurance Industry and the discussion of relevant topics.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Pre- or Corequisite: ACT 2120 (C+) or consent of instructor.