Actuarial Science | Department of Mathematics and Statistics | Faculty of Science | UNB

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UNB Fredericton

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Actuarial Science at UNB

Actuaries are risk managers.

They set the prices that must be paid for insurance policies, pensions and health, are and property insurance.

No one knows how long a pension will have to last or when benefits must be paid. There is always a risk that the insurer will not have enough funds to cover those payouts. 

The actuary is responsible for using probabilistic modelling and statistics to minimize those risks.

Becoming an actuary requires knowledge of:

  • Probability
  • Statistics
  • Finance

Beyond this, you must overcome mathematical barriers.

The profession in Canada is very closely linked to the profession in the United States. 

You must pass five courses on specialized topics (VEE courses) and write a series of professional exams. Satisfying the requirements of the Certificate in Actuarial Science will give you the best preparation for a career as an actuary that UNB can provide.

Courses

*courses required for the certificate.

Course Description Type When
MATH 1003 or MATH 1053 Calculus 1 Prerequisite First year
MATH 1013 or MATH 1063 Calculus 2 Prerequisite First year
MATH 1503 or MATH 2213 Linear Algebra Prerequisite First or Second year
ECON 1013 or ECON 3013* Microeconomics* VEE First or Second year
ECON 1023 or ECON 3023* Macroeconomics* VEE First or Second year
STAT 3083* Probability* Exam Prep Second year
STAT 3093* Statistics* VEE Second year
MATH 3803* Financial Math* Exam Prep Second or Third year
MATH 3843* Life Contingencies* Exam Prep Second or Third year
ADM 1213* Accounting* VEE First or Second year
ADM 2413 Finance Prerequisite Second or Third year
ADM 3415* Corporate Finance* VEE Third or Fourth year

VEE courses in statistics and life contingencies are not offered in all years. Some required courses will have varied prerequisites regardless of your major.

For administration students, the mathematics and statistics courses required for the certificate can be substituted for the courses usually required in the BBA program 

More information