Actuarial Science [BSc (Hons)]

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    ABOUT PROGRAMME

    OVERVIEW

    Actuarial Science is the study of risk, usually risk associated with insurance, pension, and investment plans. Actuarial Science uses techniques from mathematics, statistics, business, economics, and finance. The Bachelor of Science with a Major in Actuarial Science prepares students to write the early exams required to become an Actuary. Actuaries are in demand as professionals who develop solutions for complex financial issues, and have excellent career opportunities following graduation as well as excellent co-op work opportunities during their studies.

    We offer the only complete actuarial degree in Atlantic Canada. The unemployment rate for actuaries in Canada is 0%, and the mid-career average salary is near $100,000.

    COURSE STRUCTURE

    Common Core

    All degree programs in the School of Mathematical and Computational Sciences are built on a common core of courses that should be completed in the first two years of study. This common core consists of the following courses:

    CourseCourse nameCreditsMATH 1910Single Variable Calculus I4MATH 1920Single Variable Calculus II4MATH 2610Linear Algebra I3STAT 1910Intro to Probability and Statistics3CS 1910Computer Science I3CS 1920Computer Science II3One of:
    UPEI 1010
    UPEI 1020
    UPEI 1030

    Writing Studies
    Inquiry Studies
    University Studies

    3Total Semester Hours of Credit 23

    Common Breadth Requirement

    Students must take at least 15 semester hours of credit beyond the core course requirement in courses outside the School of Mathematical and Computational Sciences, and of these 15 semester hours of credit at least 6 must be from outside the Faculty of Science.

    Common Advanced Courses

    Students in all degree programs in the School of Mathematical and Computational Sciences must complete MCS 4210 Professional Communication and Practice (writing-intensive) and MCS 3050 Tutoring in Mathematical and Computational Sciences.

    Requirements for a Major in Actuarial Science
    The Major in Actuarial Science requires a total of 120 semester hours of credit, as described below:

     

    CreditsThe Common Core23MATH 2910 – Multivariable and Vector Calculus4STAT 2910 – Probability and Mathematical Statistics I3STAT 3910 – Probability and Mathematical Statistics II3STAT 3240 – Applied Regression Analysis3MATH 3010 – Differential Equations3At least one of:

    OR MCS – 2040 Visual Basic in Excel Technology Lab
    OR AMS 3040 – Introduction to GGY Axis Lab

    1MCS 2030 – R Technology Lab1AMS 2160 – Financial Mathematics I3AMS 2410 – Financial Economics I3AMS 3410 – Financial Economics II3AMS 2510 – Long Term Actuarial Mathematics I3AMS 3510 – Long Term Actuarial Mathematics II3AMS 3310 – Advanced Corporate Finance3AMS 4540 – Loss Models I3AMS 4550 – Loss Models II3AMS 4700 – Short-term Insurance Pricing and Reserving3AMS 4580 – Credibility Theory3At least one of: STAT 4110 – Statistical Simulation
    OR STAT 4330 – Time Series I 3At least one of: STAT 4410 – Stochastic Processes OR
    STAT 4280 – Generalized Linear Models3AMS 2030 – Intermediate Microeconomics I3AMS 2040 – Intermediate Macroeconomics I  3ACCT 1010 – Introduction to Accounting3BUS 2310 – Corporate Finance 3MCS 3050 – Tutoring in Mathematical and Computational Sciences 1MCS 4210 – Professional Communication and Practice 3Additional general electives27Total Semester Hours of Credit      120

    SPECIALIZATIONS
    Major in Actuarial Science with Pre-professional Specialization

    This specialization is designed for those students who plan to complete the full suite of exams required to apply for Associate status from the Canadian Institute of Actuaries or the Society of Actuaries. The specialization contains six additional courses compared with the major.  Students enrolled in the specialization would receive all courses related to the exams needed to obtain the designation of Associate from the Canadian Institute of Actuaries (CIA), as well as the Society of Actuaries (SOA).

    CreditsThe Common Core23MATH 2910 – Multivariable and Vector Calculus4STAT 2910 – Probability and Mathematical Statistics I3STAT 3910 – Probability and Mathematical Statistics II3STAT 3240 – Applied Regression Analysis3MATH 2620 – Linear Algebra3MATH 3010 – Differential Equations3At least one of:

    OR MCS – 2040 Visual Basic in Excel Technology Lab
    OR AMS 3040 – Introduction to GGY Axis Lab

    1MCS 2030 – R Technology Lab1AMS 2160 – Financial Mathematics I3AMS 2410 – Financial Economics I3AMS 3410 – Financial Economics II3AMS 2510 – Long Term Actuarial Mathematics I3AMS 3510 – Long Term Actuarial Mathematics II3AMS 3310 – Advanced Corporate Finance3AMS 4540 – Loss Models I3AMS 4550 – Loss Models II3STAT 3250 – Statistical Learning and Modelling3AMS 4600 – Predictive Analytics3AMS 4610 – Predictive Analytics for Actuaries3AMS 4700 – Short-term Insurance Pricing and Reserving3AMS 4580 – Credibility Theory3At least one of:

    STAT 4110 – Statistical Simulation
    OR STAT 4330 – Time Series I

    3STAT 4410 – Stochastic Processes3STAT 4280 – Generalized Linear Models3MCS 3920 – Numerical Analysis3AMS 2030 – Intermediate Microeconomics I3AMS 2040 – Intermediate Macroeconomics I  3ACCT 1010 – Introduction to Accounting3BUS 2310 – Corporate Finance 3MCS 3050 – Tutoring in Mathematical and Computational Sciences 1MCS 4210 – Professional Communication and Practice 3Additional general electives9Total Semester Hours of Credit      120

    CO-OPERATIVE EDUCATION
    Combining classroom studies with practical work experience

    The UPEI Co-op Program is an integrated approach to university education which enables students to alternate academic terms on campus with work terms in suitable employment. The success of such programs is founded on the principle that students are able to apply theoretical knowledge from course studies in the workplace and return to the classroom with practical workplace experience.

    Students accepted into the program, complete at least three 14-week paid work terms and three professional development courses.

    The Co-op option is available to full-time students in any Mathematical and Computational Sciences Major or Honours program. Applications to the Co-op Education Program are normally made after completion of the first year of study.

    Mathematical and Computational Sciences students must complete 126 semester hours of credit in order to graduate with the Co-op designation; students who successfully complete all the requirements of the program will have the notation entered on their transcripts and on the graduation parchment.

    See the Co-operative Education Program website for more information.

     

    ADMISSIONS CRITERIA

    What’s required for science admission?

    High School Graduates

    Canadian High School Equivalency Chart

    • Grade 12 Academic English
    • Grade 12 Academic Mathematics
    • Two Grade 12 Academic Science subjects (acceptable subjects: Chemistry, Biology, Physics, Computer Science, Oceanography, Animal Science, Environmental Science)
    • One additional Grade 12 Academic course

    Some introductory Science courses at UPEI have high school prerequisites (Biology 1310 – at least academic grade 11 Biology; Chemistry 1110 – at least academic grade 12 Chemistry)

    Please refer to the UPEI Academic Calendar for complete admissions information.

    FEES AND FUNDING
    Faculty of Science Programs Tuition

    UPEI’s undergraduate tuition is the second-lowest in the Atlantic region, and we offer more than $5 million in scholarships and awards

    Tuition

    $6,270 per year, based on 30 credit hours ($627 per 3 credit course).
    International students pay $7,320 per year in addition to full-time student tuition.

     

    International Students;

     

    • First Payment pay after the visa 6270C$
    • Balance payment can pay in 6 months period.

     

     

    For a complete breakdown of part-time or full-time study as a student in the Faculty of Science, visit our Tuition and Fees page

     

    Scholarships and Awards

    UPEI supports you and your educational goals. We administer millions of dollars in scholarships and awards to our undergraduate and graduate students every year. Depending on your faculty or program, and year of study, you may be eligible for available awards.

    Search the complete list of scholarships for information and application forms.

    Celebrating Student Achievement

    Including Guaranteed Entrance Scholarships and Academic Excellence Awards, these awards recognize the academic achievements of all students who meet the eligibility criteria while studying towards their first undergraduate degree.

    Visit the Scholarships site for complete information.

    FACULTY MEMBERS
    Your mentors. Our professors.

    UPEI has about 250 faculty—exceptional scholars, teachers, and mentors, with more being hired each year as we open new, progressive, and unique programs. But the story isn’t just in the numbers. It’s in the quality of our people. Award-winning faculty from around the globe have made UPEI home. Here, you’ll learn directly from these world-class professors and researchers in small classes where you’ll have easy access to them.

    PROGRAM PERIOD

    • 24 Months

     

    REQUIRED DOCUMENTS FOR THE ASSESSMENT

    • Original Passport Front Page
    • Original Passport Back Page
    • Passport Size Photo
    • O/l Certificate Original
    • O/l Certificate Certified By Ministry Of Foreign Affairs
    • A/l Certificate Original
    • A/l Certificate Certified By Ministry Of Foreign Affairs
    • Ielts Certified
    • Other Qualification
    • Works Experiences
    • Student Clear Signature
    • College Application

     

    VISA PROCESSING DOCUMENTS

    • Original Passport Front Page
    • Original Passport Back Page
    • Passport Size Photo
    • O/l Certificate Original
    • O/l Certificate Certified By Ministry Of Foreign Affairs
    • A/l Certificate Original
    • A/l Certificate Certified By Ministry Of Foreign Affairs
    • Ielts Certified
    • Name Change Affidavit
    • Other Qualification
    • Works Experiences
    • Birth Certificate Sinhala Front
    • Birth Certificate Sinhala Back
    • Birth Certificate English Translate
    • Birth Certificate English Translate Certificate Certified By Ministry Of Foreign Affairs
    • Police Report
    • Police Report Certified By Ministry Of Foreign Affairs
    • Bank Balance Confirmation Letter Certificate Certified By Attorneate /supreme Court/ Consulate Of Cyprus
    • Sponsor Letter Certified By Attorney / Supreme Court
    • Sponsor Letter Certified By Attorney
    • Affidavit Letter Certified By Attorney
    • Bank Balance Confirmation Letter
    • Sos Fund Document
    • Student Clear Signature
    • College Application
    • Offer Letter
    • Medical Heath Declaration
    University

    University of Prince Edward Island (UPEI)-Canada

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