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University of Waterloo Undergraduate Program


Name of actuarial science programs

  • BMath, Actuarial Science
  • BMath, Actuarial Science/Finance Specialization
  • BMath, Actuarial Science/Predictive Analytics Specialization


The Bachelor of Mathematics (BMath) is offered by the Faculty of Mathematics as a four-year regular honours program or a five-year co-op honours program. Co-op students complete six four-month co-op work terms as part of their academic program. There are a wide variety of co-op employment opportunities, and students can gain up to two years of diverse work experience before graduating.

The BMath program with honours in actuarial science covers a wide range of courses, including full coverage of the material of the SOA/CAS associateship requirements and some coverage of the SOA/CAS fellowship requirements. With a large actuarial faculty, the range of courses offered is broad and extends well beyond the SOA/CAS syllabi. Students may choose to gain a foundational knowledge in property and casualty insurance, pensions, corporate finance, risk theory, and life insurance. Students who are particularly interested in financial or predictive analytics topics may elect to add either option to their actuarial science honours plan.

Students can concurrently earn a Bachelor of Business Administration (BBA) through the Business Administration and Mathematics Double Degree program offered in partnership with Wilfrid Laurier University. The Department also offers honour plans in data science, mathematical finance, and statistics.

University of Waterloo Undergraduate Mandatory Courses for recognized degree

For a degree to be recognized by the CIA, a student must successfully complete the following mandatory courses:

Course Course title
STAT 230 Probability
STAT 330 Mathematical Statistics
ACTSC 231 Introductory Financial Mathematics
ACTSC 372 Corporate Finance
AFM 101 Introduction to Financial Accounting
ECON 101 Introduction to Microeconomics
ECON 102 Introduction to Macroeconomics
ACTSC 372 Corporate Finance
ACTSC 446 Mathematics of Financial Markets
ACTSC 232 Life Contingencies 1
ACTSC 331 Life Contingencies 2
ACTSC 363 Casualty and Health Insurance Mathematics 1
ACTSC 431 Casualty and Health Insurance Mathematics 2
STAT 231 Statistics
ENGL 378 Professional Communications in Statistics and Actuarial Science
STAT 331 Applied Linear Models
STAT 341 Computational Statistics and Data Analysis
AND two of
STAT 431 Generalized Linear Models and their Applications
STAT 441 Statistical Learning – Classification
STAT 443 Forecasting
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