About the MActSc
- The MActSc is an elite, fast track professional program in actuarial science, with a cutting edge curriculum and world class instructors.
- We offer small dedicated classes, with outstanding students from around the world.
- We have internationally renowned faculty in actuarial science and risk management, offering engaging teaching with a leading edge curriculum.
- We are a Center of Actuarial Excellence, designated by the Society of Actuaries.
- Our program is accredited by the Canadian Institute of Actuaries (CIA) and by the UK Institute and Faculty of Actuaries (IFA). As a graduate, you may be exempt from up to 4 exams of the CIA and up to 10 exams of the IFA. In some cases, these may be transferable toward the Society of Actuaries or the Casualty Actuarial Society credentials.
- The program is very demanding and very rigorous, covering the technical actuarial curriculum in depth, and also developing broader business and communication skills.
- We have very strong employment rates for graduates of the program in actuarial positions in Canada and internationally.
Who is the MActSc for?
The Master of Actuarial Science (MActSc) is a professional degree designed to prepare strong candidates with quantitative undergraduate degrees for a career as an actuary.
Suitable undergraduate majors include mathematics, statistics, engineering or physics. Other undergraduate majors, such as economics or business, may be acceptable if the transcript shows substantive coverage of calculus and linear algebra at undergraduate level.
We do not require any prior study in actuarial science, but candidates with some relatively modest level of education in actuarial science, including those who are self-taught through one or more of the professional exams, may benefit from the more in-depth coverage in the MActSc program.
Our program is designed for future high-fliers in the profession. We are looking for people who are ambitious, hard-working, with excellent communication skills.
The MActSc is not suitable for students with an Actuarial Science major from a recognized international actuarial program. These candidates should consider instead the MMath (Actuarial Science) program
Applying to the program
To qualify for this program, you need to have a bachelor's degree with high standing (equivalent to at least an A- average) in a quantitative area (engineering, mathematics, statistics, etc.).
The program is designed for students who do not have a significant actuarial science component in their undergraduate degree studies. The MMath (Actuarial Science) is the appropriate program for students who already have an actuarial science undergraduate degree.
For applicants who have not previously studied in an English language environment, we also require proof of proficiency in English:
- TOEFL: minimum of 90 total, 25 for writing and 25 for speaking.
- IELTS: minimum of 7.0 total, 6.5 for writing and 6.5 for speaking.
The Mary R. Hardy Graduate Award in Actuarial Science will be given annually to an incoming MActSc student who demonstrates both academic excellence and a strong commitment to serving the public good through volunteering and community service. If you are interested in applying for this award, please include a description of how you satisfy the criteria in your admission package.
Student selection after application
The MActSc admits about 20 students each year. After the February 1 deadline, all applications are reviewed by the Admission Committee who look closely at transcripts, references, supplemental information forms, resumes and English language proficiency.
Short-listed candidates will be invited to take our online test. This is a one hour diagnostic test with questions on calculus, linear algebra, probability, and statistics at first – second year university level. The objective of the test is to assess whether applicants have sufficient mathematical background for the program, and whether additional preparation for the course in certain areas would be beneficial.
Selected candidates will be invited for a phone interview following the online test. This is an informal discussion, typically lasting 20-30 minutes.
The Admission Committee is chaired by the Director of the program. Admission offers are sent to the successful applicants in mid-March.