Actuarial Science is one of the best degree programmes to study in Canada. The course is offered at several universities in the country, with each university having specific admission requirements.
Actuarial Science is based upon the application of mathematical techniques to reduce the impact of such hazards as loss of income through death, disability, or retirement, or loss of property through fire, accident, or theft. Actuaries are the chief architects of life, health, and property insurance plans, and pension plans, and bear the major responsibility for their financial soundness. By using concepts from the areas of probabilities and finance, actuaries model, forecast and value the costs of benefits that will be provided to the participants in such plans.
Methods developed for modeling insurance risk can also be applied to modeling investment risk, and actuaries apply their expertise to the valuation of sophisticated investment vehicles such as options on equities, bonds and other investment derivatives
If you are planning to join any university in Canada that offers admission to Actuarial Science course, you have to select one from the list below
- University of Calgary
- Waterloo University
- University of Toronto
- Dalhousie University
- Carleton University
- Concordia University
- University of Alberta
- Western University
- University of Manitoba
- The University of York
Above are top universities that offer actuarial science undergraduate course.
The next step is to go to websites of each university and confirm admission dates and requirements-we shall provide general entry requirements to Actuarial Science degree in Canada.
Before you decide to join any university in Canada, there are key things you should know:
That English language is compulsory. If you are not proficient in the English language, life in Canada might be unbearable.
That Actuarial science requires someone gifted in mathematics and science courses: if you are weak in Maths, don’t even bother to study Actuarial science.
That a VISA is required when you want to travel to Canada, but if you are a Canadian citizen, you don’t have to acquire a VISA.
Courses required in order for a student to be admitted:
You must complete five grade 12 senior level approved courses. Your admission average will be calculated using final grade 11 and at least two grade 12 approved courses. If both grade 11 and 12 grades are provided, the grade 12 grade will be used.
Minimum competitive average
To be competitive your average should be in the Mid 70s range
- Mathematics 30-1 1
- English 30-1
- Two of the following courses:
- Physics 30 2
- CTS Computer Science Advanced (5 credits)
- Chemistry 30
- Mathematics 31
- Biology 30
- One other approved course 3
- One other approved option 3
1 You’ll need 70% or better in this course to register for first year math courses.
2 Science 30 cannot be used to fulfil specific senior level sciences required for admission.
3 You only need one Approved Course OR Approved Option – not both.
ENGLISH PROFICIENCY REQUIREMENTS (Calgary University)
- Successful completion of at least three years of formal, full-time study in English at a secondary school that meets one of the following requirements:
a. Is in an exempt country; OR
b. Is accredited to offer Canadian, American or British curricula; OR
- Successful completion of at least two years of formal, full-time study in English at an accredited or recognized post-secondary institution in Canada or a University of Calgary approved English-speaking country; OR
- Achieved a final grade of 80 per cent or better on the Alberta English Language Arts 30-1 (or equivalent); OR
- Achieved a grade of 5 or better on the International Baccalaureate (IB) Higher or Standard Level English A (Literature or Language and Literature) examination or a grade of 6 or better on the Higher Level English B examination; OR
- Achieved a grade of 4 or better on the Advanced Placement (AP) English Literature and Composition or English Language and Composition examination; OR
- Achieved a grade of “A” or “B” in GCSE-level, A/S-level or A-level English (non-ESL) in the General Certificate of Education (GCE)/General Certificate of Secondary Education (GCSE) curriculum; OR
- Successful completion of at least three years at a school in English that is an accredited member of the Council of International Schools (CIS), including completion of a senior academic English course (Alberta 30-1 level or equivalent); OR
- Successful completion of a University of Calgary English credit course, comparative literature course, or university equivalent with a final grade of “B-” or better; OR
- Successful completion of an approved English language test as follows:
|Acceptable English Language Tests||Education||Nursing||All Other Undergraduate Programs|
|TOEFL iBT||100 with a minimum of 27 in each sub-score||92 with a minimum of 23 in each sub-score||86|
|IELTS Academic||8.0 with no bands below a 7.0||7.0 with no bands below a 7.0||6.5|
|MELAB||Overall score of 92 with a minimum score of 4- (4 minus) on the Speaking Test||Overall score of 90 with a minimum score of 3+ (3 plus) on the Speaking Test||85|
|PTE||70 (see Note 1)||64 (see Note 1)||60|
|Cambridge English Language Assessment: Cambridge English: Advanced (CAE)||200||185||180|
|Cambridge English Language Assessment: Cambridge English Proficiency (CPE)||200||185||180|
|University of Calgary International Foundation Program||Successful completion of Tier 3 courses with a minimum grade of “B” in each of IPFX 290, 293 and 297. Applicants must also present an additional speaking test (see Note 1).||Successful completion of Tier 3 courses with a minimum grade of “B” in each of IFPX 290, 293 and 297. Applicants must also present an additional speaking test (see Note 1).||Successful completion of Tier 3|
Note 1: Applicants must also present one of the following in order to satisfy the spoken English requirement:
- Nursing: Minimum score of 23 on the speaking component of the TOEFL iBT or 3+ on the MELAB Speaking Test.
- Education: Minimum score of 27 on speaking component of the TOEFL iBT or a 4- on the MELAB Speaking Test.
Applicants to the Faculties of Law, Graduate Studies, Cumming School of Medicine (excluding applicants to the Bachelor of Health Sciences and Bachelor of Community Rehabilitation) or Veterinary Medicine should check English Language Proficiency requirements directly with those faculties.
Normally, students will only be admissible if the English Language Proficiency requirements have been satisfied. The Registrar has the authority to use discretion in exceptional circumstances. Students must meet English Language proficiency requirements in addition to meeting the English subject admission requirement for the program to which they are applying.
Fees and Scholarships
You can join universities in Canada as a self-sponsored student or through a scholarship. When you obtain a scholarship, you are likely to get a full sponsorship to Bachelor of Actuarial Science, this is because few students enroll for the program.