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Department of Statistical and Actuarial Sciences
Center of Actuarial Excellence (CAE)
About Us

Professional Organizations & Accreditation

The Department of Statistical and Actuarial Sciences at Western Unversity has Educational Accreditation with the Canadian Institute of Actuaries; is recognized as a Centre of Actuarial Excellence by the Society of Actuaries; and has Educational Accreditation with the Statistical Society of Canada - What does this mean?

 

Canadian Institute of Actuaries – Educational Accreditation

Western’s undergraduate actuarial science program has been accredited by the Canadian Institute of Actuaries (CIA).  This means that, beginning September 2012, Western students will be able to obtain exemptions from several of the preliminary examinations for the purpose of attaining Associateship or Fellowship in the Canadian Institute of Actuaries. 

These exemptions may also be used for the purpose of attaining Associateship or Fellowship in the Casualty  Actuarial Society, but not for the purpose of attaining Associateship or Fellowship in the Society of Actuaries.

What examinations are eligible for CIA exemption?

The examinations eligible for exemption are Exams FM/2, MLC, MFE/3F, and C/4.  Students cannot receive exemptions from Exam P/1.

The specific courses and minimum marks required at Western for exemption from each exam are indicated in the attached table.  The minimum marks must be attained for each and every course listed for each exam.  No exceptions will be made.

Can exemptions be obtained based on courses taken before September 2012?

No.  Exemptions may be received based only on courses beginning in September 2012 or later.  For example, a student who received a mark of 75 or more in AS 2427B in Winter 2012 and marks of 80 or more in AS 3429A in Fall 2012 and AS 3431B in Winter 2013 is not eligible for exemption from Exam MLC.

What is the process for obtaining exemptions from the CIA?

Once a student has met the exemption requirements for a given exam, he/she may apply to the CIA for exemption from the exam. 

Please visit the following website to learn more about  the CIA University Accreditation Program(UAP):

 

 http://www.cia-ica.ca/membership/uap

 

 


Society of Actuaries - Centre of Excellence

CAEs meet specific requirements related to degree, curriculum, graduate count, faculty composition, graduate quality, appropriate integration, connection to industry, and research/scholarship. These are typically undergraduate-advanced programs; some of them also offer graduate-education or graduate-education and research.

Western’s actuarial program includes the following Validation by Educational Experience approved courses:
VEE – Applied Statistical Methods
VEE – Corporate Finance
VEE – Economics

The program also includes courses that substantially cover the learning objectives for:
SOA Probability (PD) Exam/CAS Exam 1
SOA Financial Mathematics (FM) Exam / CAS Exam 2
Life Contingencies segment of the SOA Actuarial Models MLC Exam
Financial Economics segment of the SOA Actuarial Models MFE Exam
CAS Exam 3
SOA Construction and Evaluation of Actuarial Models (C) Exam / CAS Exam 4

Learn more about Centers of Excellence at:  http://www.soa.org/Education/Resources/cae/default.aspx


Statistical Society of Canada – Education Accreditation

The Statistical Society of Canada (SSC) offers two levels of accreditation, the Professional Statistician (P.Stat.) and the Associate Statistician (A.Stat.).   The qualification of  A.Stat. is intended to indicate that the holder has completed a course of study equivalent to a major or honours degree in statistics. 

The Accreditation Committee has pre-approved the following Western University suggested course lists that may be used towards the educational requirements of the A.Stat. No further documentation about these courses needs to be submitted by the candidate applying for an A.Stat.

http://www.ssc.ca/en/accreditation/ap ... towards-astat-designation