At a glance
48 mo
Duration
6.5
IELTS
—
Tuition / yr
en
Language
Bachelor's
Level
- Bachelor of Mathematics (BMath)Degree Awarded
- Co-op or Regular Program OptionsProgram Structure
- Specializations in Finance and Predictive AnalysisAreas of Focus
- Preparation for SOA, CIA, and CAS ExamsProfessional Accreditation
- 40 CoursesTotal Courses
Actuarial Science is a field that uses statistics, probability, and risk theory to address financial uncertainties related to insurance, pensions, and other benefit plans. The University of Waterloo's program provides the foundational education and support needed to pursue professional actuarial designations. You will gain skills in mathematics, statistics, and risk assessment, preparing you for careers in various financial sectors. This program is offered as a Bachelor of Mathematics with a major in Actuarial Science. You can choose specializations in Finance or Predictive Analysis. The curriculum includes core mathematics, statistics, and specialized actuarial courses, along with communication skills development and electives. Students are also provided with guidance on completing the required professional exams from bodies like the Society of Actuaries (SOA) and the Canadian Institute of Actuaries (CIA).
Curriculum
The Actuarial Science program includes a blend of foundational mathematics, computer science, communications, and specialized actuarial courses. First-year courses provide a basis in calculus, algebra, and computer science, while upper-year courses delve into financial mathematics, life contingencies, casualty insurance, and investment analysis.
- First Year
- Classical AlgebraMATH 135/145
- Calculus 1MATH 137/147
- Computer ScienceCS 115/135/145
- Communications Course
- Non-math Elective
- Upper Years
- Introduction to Actuarial PracticeMTHEL 131
- Introductory Financial MathematicsACTSC 231
- Applied Linear ModelsSTAT 331
- Life Contingencies 2ACTSC 331
- Casualty and Health Insurance Mathematics 1ACTSC 363
- Equity InvestmentsAFM 424
Careers
Graduates of the Actuarial Science program are well-prepared for a variety of roles in the insurance, finance, and risk management sectors. The program's curriculum and co-op opportunities provide practical experience and pathways to professional accreditation.
- Account Executive
- Actuarial Analyst
- Actuarial Associate
- Data Analyst
- E-trading Developer
- Finance and Accounting Analyst
- Operational Risk Management Analyst
- Revenue Collections
- Senior Analyst
- Web Solutions Developer
Frequently asked questions
- What are the English language proficiency requirements for international students?
- You need an IELTS Academic score of 6.5 overall, with at least 6.5 in writing and speaking, and 6.0 in reading and listening. Alternatively, a TOEFL iBT score of 90 overall with 25 in writing and speaking (for tests completed before January 21, 2026) is accepted.
- How do I apply for the Actuarial Science program?
- You first apply to the Faculty of Mathematics. After completing your first year of studies, you can then declare Actuarial Science as your major in consultation with an academic advisor.
- What are the estimated tuition fees for international students?
- Tuition fee estimates for international students are available via the Tuition Fee Estimator on the University of Waterloo website. These estimates do not include additional expenses like housing or textbooks.
- What academic qualifications are required for admission?
- A High School Diploma is required. Specific course requirements and grades for direct admission or after the first year declaration will be detailed by the university.
- What are the career prospects after graduating from this program?
- Graduates are prepared for roles such as Actuarial Analyst, Data Analyst, and Finance and Accounting Analyst in the insurance, finance, and risk management sectors.
- Does the university offer any scholarships for international students?
- Yes, the Global Scholarship is available for exceptional international students and involves significant extracurricular activities. The exact amount of the scholarship is not specified.
Entry requirements
High School DiplomaSpecific course requirements and grades will be detailed by the university for direct admission or after the first year declaration.
IELTS Academic6.5 overall, with 6.5 in writing and speaking, and 6.0 in reading and listening
TOEFL iBT90 overall, with 25 in writing and speaking (for tests completed before January 21, 2026)
Students who do not meet the English language requirements may be eligible for the Bridge to Academic Success in English (BASE) program. Exemption from English language tests may be possible if you have completed four or more consecutive years of full-time education in an English-language school system in Canada or another country, provided your first language is not English. Official transcripts or a letter from the school confirming the language of instruction are required for exemption evaluation.
Fees
Tuition (international)Tuition fee estimates are available via the Tuition Fee Estimator on the University of Waterloo website. These estimates do not include additional expenses like housing, groceries, or textbooks. Note that preliminary English language training programs are not included in degree program estimates.
Tuition (home)Tuition fee estimates are available via the Tuition Fee Estimator on the University of Waterloo website. These estimates do not include additional expenses like housing, groceries, or textbooks.
LivingEstimated living costs are not provided on the program or fees pages.
Tuition fees are based on residency status (domestic or international) and are assessed annually. The Tuition Fee Estimator provides estimates based on the 2026/2027 academic year and assumes a Fall start. The actual costs may vary and will be based on tuition fees in effect at the time of enrollment.
How to apply
1. Apply to the Faculty of MathematicsSubmit your application for admission to the Faculty of Mathematics.
2. Declare MajorAfter completing your first year of studies, consult with an academic advisor to declare Actuarial Science as your major.
Scholarships
Global ScholarshipLarge amount (amount unspecified)
Accreditation
Graduates can pursue the Canadian Institute of Actuaries (CIA) accreditation, commonly known as an Actuary designation.
Frequently asked questions
What are the English language proficiency requirements for international students?
+
You need an IELTS Academic score of 6.5 overall, with at least 6.5 in writing and speaking, and 6.0 in reading and listening. Alternatively, a TOEFL iBT score of 90 overall with 25 in writing and speaking (for tests completed before January 21, 2026) is accepted.
How do I apply for the Actuarial Science program?
+
You first apply to the Faculty of Mathematics. After completing your first year of studies, you can then declare Actuarial Science as your major in consultation with an academic advisor.
What are the estimated tuition fees for international students?
+
Tuition fee estimates for international students are available via the Tuition Fee Estimator on the University of Waterloo website. These estimates do not include additional expenses like housing or textbooks.
What academic qualifications are required for admission?
+
A High School Diploma is required. Specific course requirements and grades for direct admission or after the first year declaration will be detailed by the university.
What are the career prospects after graduating from this program?
+
Graduates are prepared for roles such as Actuarial Analyst, Data Analyst, and Finance and Accounting Analyst in the insurance, finance, and risk management sectors.
Does the university offer any scholarships for international students?
+
Yes, the Global Scholarship is available for exceptional international students and involves significant extracurricular activities. The exact amount of the scholarship is not specified.