Academic Calendar - 2024
Western University Academic Calendar. - 2024
Actuarial Science
The nature and cause of financial security and insecurity; public, private and employer programs and products to reduce financial insecurity, including social security, individual insurance and annuities along with employee pensions and benefits.
Extra Information: 3 lecture hours.
Course Weight: 0.50
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Time value of money, accumulation and discount functions, effective rates of interest and discount and present values, as applied to annuities and other financial products, applications including loan repayment schedules and methods, and applications using software.
Antirequisite(s): Actuarial Science 2053, Actuarial Science 2553A/B.
Prerequisite(s): At least 0.50 course from: Mathematics 1225A/B, Mathematics 1230A/B, Calculus 1000A/B, Calculus 1500A/B. Must be registered in a module offered by King’s University College.
Extra Information: 3 lecture hours, 1 laboratory hour.
Course Weight: 0.50
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Simple and compound interest, annuities, amortization, sinking funds, bonds, bond duration, depreciation, capital budgeting, probability, mortality tables, life annuities, life insurance, net premiums and expenses. Cannot be taken for credit in any module in Statistics or Actuarial Science, Financial Modelling or Statistics, other than the minor in Applied Financial Modeling.
Antirequisite(s): Actuarial Science 2553A/B.
Prerequisite(s): 1.0 course or two 0.5 courses at the 1000 level or higher from Applied Mathematics, Calculus, or Mathematics.
Extra Information: 3 lecture hours.
Course Weight: 1.00
This course is also offered at:
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Simple and compound interest, annuities, amortization, sinking funds, bonds, bond duration, depreciation, capital budgeting, probability, mortality tables, life annuities, life insurance, net premiums and expenses. Cannot be taken for credit in any module in Statistics or Actuarial Science, Financial Modelling or Statistics, other than the minor in Applied Financial Modeling.
Antirequisite(s): Actuarial Science 2553A/B.
Prerequisite(s): Mathematics 0110A/B or Grade 12U Advanced Functions and Introductory Calculus (MCB 4U) or equivalent, and 1.0 course or two 0.5 courses from Applied Mathematics, Calculus, Numerical and Mathematical Methods, or Mathematics.
Extra Information: 3 lecture hours.
Course Weight: 1.00
This course is also offered at:
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Models for the time until death, single life annuity and life insurance present values and their probability distributions; introduction to equivalence principle and premium calculations.
Prerequisite(s): A minimum mark of 60% in each of Actuarial Science 2553A/B, either Calculus 2402A/B or Calculus 2502A/B, and Statistical Sciences 2857A/B. Restricted to students enrolled in any Actuarial Science module.
Extra Information: 3 lecture hours, 1 tutorial hour.
Course Weight: 0.50
Return to top
Time value of money, accumulation and discount functions, effective rates of interest and discount and present values, as applied to annuities and other financial products, and/or applications including loan repayment schedules and methods.
Antirequisite(s): Actuarial Science 2053.
Prerequisite(s): A minimum mark of 60% in one of Calculus 1501A/B, Numerical and Mathematical Methods 1414A/B, the former Applied Mathematics 1414A/B, the former Applied Mathematics 1413, or a minimum mark of 85% in Calculus 1301A/B. Integrated Science 1001X with a minimum mark of 60% can be used in place of Calculus 1301A/B.
Extra Information: 3 lecture hours, 1 tutorial hour.
Course Weight: 0.50
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Insurance loss frequency and severity models; aggregate loss models; risk measures; ruin theory; coverage modifications.
Prerequisite(s): A minimum mark of 60% in Statistical Sciences 3657A/B. Restricted to students enrolled in any Actuarial Science module, or those registered in the Honours Specialization module in Statistics, the Major in Financial Modelling, or the Honours Specialization in Financial Modelling module.
Extra Information: 3 lecture hours.
Course Weight: 0.50
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Single life annuity and life insurance loss random variables and their distributions, with applications to the analysis of benefit premiums and reserves; survival model estimates; mortality Improvement and longevity models.
Prerequisite(s): A minimum mark of 60% in each of Actuarial Science 2427A/B and Statistical Sciences 2858A/B.
Corequisite(s): Statistical Sciences 3657A/B.
Extra Information: 3 lecture hours.
Course Weight: 0.50
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Analysis of probability distributions and present values associated with multiple life models, multiple decrement models and more general multi-state models and applications to life Insurance and other long term coverages including disability Income and other health care coverages.
Prerequisite(s): A minimum mark of 60% in each of Actuarial Science 3429A/B and in Statistical Sciences 3657A/B. Restricted to students enrolled in any Actuarial Science module.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
Introduction to the major areas and issues of actuarial practice, including insurance and annuity product design, pricing and valuation, analysis of the cost of pensions and other employee benefits, asset liability management and professionalism.
Prerequisite(s): A minimum mark of 60% in Actuarial Science 2427A/B. Restricted to students who have completed all courses specifically mentioned in the Major in Actuarial Science module.
Extra Information: 3 lecture hours.
Course Weight: 0.50
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Survival models, nonparametric estimation of the survival function, one and two or more sample hypothesis tests, inference for semiparametric regression models, inference for parametric regression models.
Prerequisite(s): A minimum mark of 60% in Statistical Sciences 3858A/B.
Extra Information: 3 lecture hours.
Course Weight: 0.50
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Selection, calibration, and validation of parametric models for insurance losses; credibility theory; short term reserving and pricing; reinsurance coverages.
Prerequisite(s): A minimum mark of 60% in Statistical Sciences 3858A/B. Restricted to students enroled in any Actuarial Science module, or those registered in the Honours Specialization module in Statistics or the Honours Specialization in Financial Modelling module.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
A course description will be available from the department at the time of registration.
Prerequisite(s): A minimum mark of 60% in Actuarial Science 2427A/B and permission of the department.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
A course description will be available from the department at the time of registration.
Prerequisite(s): A minimum mark of 60% in Actuarial Science 2427A/B and permission of the department.
Extra Information: 3 lecture hours.
Course Weight: 0.50
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The student will work on a project under faculty supervision. The project may involve an extension, or more detailed coverage, of material presented in other courses. Credit for the course will involve a written report as well as an oral presentation.
Antirequisite(s): Data Science 4999Z, Financial Modelling 4998F/G/Z, Statistical Sciences 4999F/G/Z.
Prerequisite(s): Registration in the fourth year of the Honours Specialization in Actuarial Science, Statistics, or Financial Modelling. Students must have a modular course average of at least 80% and must find a faculty member to supervise the project.
Course Weight: 0.50
Return to top
Actuarial Science
The nature and cause of financial security and insecurity; public, private and employer programs and products to reduce financial insecurity, including social security, individual insurance and annuities along with employee pensions and benefits.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
Time value of money, accumulation and discount functions, effective rates of interest and discount and present values, as applied to annuities and other financial products, applications including loan repayment schedules and methods, and applications using software.
Antirequisite(s): Actuarial Science 2053, Actuarial Science 2553A/B.
Prerequisite(s): At least 0.50 course from: Mathematics 1225A/B, Mathematics 1230A/B, Calculus 1000A/B, Calculus 1500A/B. Must be registered in a module offered by King’s University College.
Extra Information: 3 lecture hours, 1 laboratory hour.
Course Weight: 0.50
Return to top
Simple and compound interest, annuities, amortization, sinking funds, bonds, bond duration, depreciation, capital budgeting, probability, mortality tables, life annuities, life insurance, net premiums and expenses. Cannot be taken for credit in any module in Statistics or Actuarial Science, Financial Modelling or Statistics, other than the minor in Applied Financial Modeling.
Antirequisite(s): Actuarial Science 2553A/B.
Prerequisite(s): 1.0 course or two 0.5 courses at the 1000 level or higher from Applied Mathematics, Calculus, or Mathematics.
Extra Information: 3 lecture hours.
Course Weight: 1.00
This course is also offered at:
Return to top
Simple and compound interest, annuities, amortization, sinking funds, bonds, bond duration, depreciation, capital budgeting, probability, mortality tables, life annuities, life insurance, net premiums and expenses. Cannot be taken for credit in any module in Statistics or Actuarial Science, Financial Modelling or Statistics, other than the minor in Applied Financial Modeling.
Antirequisite(s): Actuarial Science 2553A/B.
Prerequisite(s): Mathematics 0110A/B or Grade 12U Advanced Functions and Introductory Calculus (MCB 4U) or equivalent, and 1.0 course or two 0.5 courses from Applied Mathematics, Calculus, Numerical and Mathematical Methods, or Mathematics.
Extra Information: 3 lecture hours.
Course Weight: 1.00
This course is also offered at:
Return to top
Models for the time until death, single life annuity and life insurance present values and their probability distributions; introduction to equivalence principle and premium calculations.
Prerequisite(s): A minimum mark of 60% in each of Actuarial Science 2553A/B, either Calculus 2402A/B or Calculus 2502A/B, and Statistical Sciences 2857A/B. Restricted to students enrolled in any Actuarial Science module.
Extra Information: 3 lecture hours, 1 tutorial hour.
Course Weight: 0.50
Return to top
Time value of money, accumulation and discount functions, effective rates of interest and discount and present values, as applied to annuities and other financial products, and/or applications including loan repayment schedules and methods.
Antirequisite(s): Actuarial Science 2053.
Prerequisite(s): A minimum mark of 60% in one of Calculus 1501A/B, Numerical and Mathematical Methods 1414A/B, the former Applied Mathematics 1414A/B, the former Applied Mathematics 1413, or a minimum mark of 85% in Calculus 1301A/B. Integrated Science 1001X with a minimum mark of 60% can be used in place of Calculus 1301A/B.
Extra Information: 3 lecture hours, 1 tutorial hour.
Course Weight: 0.50
Return to top
Insurance loss frequency and severity models; aggregate loss models; risk measures; ruin theory; coverage modifications.
Prerequisite(s): A minimum mark of 60% in Statistical Sciences 3657A/B. Restricted to students enrolled in any Actuarial Science module, or those registered in the Honours Specialization module in Statistics, the Major in Financial Modelling, or the Honours Specialization in Financial Modelling module.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
Single life annuity and life insurance loss random variables and their distributions, with applications to the analysis of benefit premiums and reserves; survival model estimates; mortality Improvement and longevity models.
Prerequisite(s): A minimum mark of 60% in each of Actuarial Science 2427A/B and Statistical Sciences 2858A/B.
Corequisite(s): Statistical Sciences 3657A/B.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
Analysis of probability distributions and present values associated with multiple life models, multiple decrement models and more general multi-state models and applications to life Insurance and other long term coverages including disability Income and other health care coverages.
Prerequisite(s): A minimum mark of 60% in each of Actuarial Science 3429A/B and in Statistical Sciences 3657A/B. Restricted to students enrolled in any Actuarial Science module.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
Introduction to the major areas and issues of actuarial practice, including insurance and annuity product design, pricing and valuation, analysis of the cost of pensions and other employee benefits, asset liability management and professionalism.
Prerequisite(s): A minimum mark of 60% in Actuarial Science 2427A/B. Restricted to students who have completed all courses specifically mentioned in the Major in Actuarial Science module.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
Survival models, nonparametric estimation of the survival function, one and two or more sample hypothesis tests, inference for semiparametric regression models, inference for parametric regression models.
Prerequisite(s): A minimum mark of 60% in Statistical Sciences 3858A/B.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
Selection, calibration, and validation of parametric models for insurance losses; credibility theory; short term reserving and pricing; reinsurance coverages.
Prerequisite(s): A minimum mark of 60% in Statistical Sciences 3858A/B. Restricted to students enroled in any Actuarial Science module, or those registered in the Honours Specialization module in Statistics or the Honours Specialization in Financial Modelling module.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
A course description will be available from the department at the time of registration.
Prerequisite(s): A minimum mark of 60% in Actuarial Science 2427A/B and permission of the department.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
A course description will be available from the department at the time of registration.
Prerequisite(s): A minimum mark of 60% in Actuarial Science 2427A/B and permission of the department.
Extra Information: 3 lecture hours.
Course Weight: 0.50
Return to top
The student will work on a project under faculty supervision. The project may involve an extension, or more detailed coverage, of material presented in other courses. Credit for the course will involve a written report as well as an oral presentation.
Antirequisite(s): Data Science 4999Z, Financial Modelling 4998F/G/Z, Statistical Sciences 4999F/G/Z.
Prerequisite(s): Registration in the fourth year of the Honours Specialization in Actuarial Science, Statistics, or Financial Modelling. Students must have a modular course average of at least 80% and must find a faculty member to supervise the project.