Actuarial Science

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 probability 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. ACT230H1 and ACT240H1, though somewhat technical, are courses of interest to a wide audience, since almost every student will from time to time be either a saver or a borrower, and will be covered by insurance and pension plans. Other actuarial courses deal with more specialized topics, and are generally taken by students with a more serious interest in the field or who want to pursue a career as an actuary. Professional accreditation as an actuary is obtained via the Canadian Institute of Actuaries by passing a series of examinations set by the Society of Actuaries or the Casualty Actuarial Society.  University of Toronto's Actuarial Science program is accredited by the Canadian Institute of Actuaries and some professional requirements can be satisfied through courses in the actuarial program. 

Enquiries: 9th Floor, Ontario Power Building, 700 University Avenue, Toronto, ON M5G 1Z5 (416-978-3452)

Associate Chair, Undergraduate Studies: Statistics - Professor N. Taback; e-mail: [email protected]

Associate Chair, Undergraduate Studies: Actuarial Science - Professor V. Zhang; e-mail: [email protected]

Use the University of Toronto International Application if you:

• currently reside outside of Canada, AND 
• are not currently studying, and have not previously studied in Canada, AND
• are not applying to any other Ontario university

Prospective international applicants who wish to apply to other Ontario universities in addition to the University of Toronto should use the OUAC 105 Application (see below).

If you have already applied with the OUAC 105 Application, you do not need to apply to the University of Toronto with the International Application. (If you submit both applications, your second application will be cancelled with no possibility of a refund.)

Note that you will need to pay a non-refundable fee of $180.

University of Toronto has contracted with the Ontario Universities’ Application Centre (OUAC) to provide application processing services. When you begin the application process, you will be transferred to the OUAC website where you will complete and submit your application. You will be required to create an OUAC Account (if you do not already have one). You may have only one OUAC Account. Direct any application process questions to the OUAC.