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Course Code Course Title (Click to Sort) Description Prerequisite Exclusion
ACT230H1 Mathematics of Finance for Non-Actuaries

Introduction to financial mathematics, interest measurement, present value calculation, annuity valuation, loan amortization, consumer financing arrangements, bond valuation. The course is aimed at a general audience who will not be continuing in the actuarial science program.

First-year Calculus

ACT240H1

ACT240H1 Mathematics of Investment & Credit

Interest, discount and present values, as applied to determine prices and values of annuities, mortgages, bonds, equities; loan repayment schedules and consumer finance payments in general; yield rates on investments given the costs on investments.

MAT137Y1 (minimum grade 65%)/MAT157Y1

ACT230H1

ACT245H1 Financial Principles for Actuarial Science I

Term structure of interest rates, cashflow duration, convexity and immunization, forward and futures contracts, interest rate swaps, introduction to investment derivatives and hedging strategies.

ACT240H1, MAT137Y1 (minimum grade 65%)/MAT157Y1

ACT247H1 Introductory Life Contingencies

Probability theory applied to survival and to costs and risks of life assurances, life annuities, and pensions; analysis of survival distributions; international actuarial notation.

ACT240H1; MAT137Y1 (minimum grade 65%)/MAT157Y1; STA257H1

ACT348H1 Advanced Life Contingencies

Determination of benefit premium and benefit reserves for life insurance and annuities; analysis of insurance loss random variables; theory of life contingencies for multiple lives.

ACT240H1 (minimum grade C); ACT245H1 (minimum grade C); ACT247H1 (minimum grade C); (STA257H1,STA261H1); MAT237Y1/​MAT257Y1

ACT349H1 Corporate Finance for Actuarial Science

Actuarial applications of financial mathematics and economics.

ACT240H1 (minimum grade C); ACT245H1 (minimum grade C); ACT247H1 (minimum grade C); (STA257H1, STA261H1); MAT237Y1/​MAT257Y1

ECO358H1, ECO359H1 , RSM332H1 , RSM333H1

ACT370H1 Financial Principles for Actuarial Science II

Mathematical theory of financial derivatives, discrete and continuous option pricing models, hedging strategies and exotic option valuation.

ACT240H1 (minimum grade C); ACT245H1 (minimum grade C); ACT247H1 (minimum grade C); (STA257H1,STA261H1); MAT237Y1/​MAT257Y1

RSM435H1

ACT371H1 Basic Reserving Methods For P&C Insurance

Topics covered include resrving data and triangles, diagnoses methods that range from triangle of ratios of paid claims to reported claims to triangel of reported claim ratios. The sylloabus also includes projection techniques.

ACT240H1, STA257H1

ACT372H1 Basic Ratemaking Methods For P&C Insurance

This course covers the basic ratemaking methods for P&C insurance. It assumes that students are familiar with traditional reserving diagnoses and projection methods. The syllabus would introduce concepts related to earning of exposures, on-level factors, catastrophe loading, large loss loading and credibility.

ACT371H1

ACT398H0 Research Excursions

An instructor-supervised group project in an off-campus setting. Details at http://www.artsci.utoronto.ca/current/course/399. Not eligible for CR/NCR option.