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First Year Information Session

Learn about the role of advisors, how to get your questions answered, professional actuarial bodies, requirements for declaring Actuarial Science or Statistics, and important courses to watch out for.

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First Year Information Session

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  1. First Year Information Session November 11, 2015 James Adcock, Dina Dawoud, Alice Pfeifer Hanov, Riley Metzger, & Diana Skrzydlo

  2. Meet your Statistics and Actuarial Science advisors: • James Adcock – Lecturer, Western Alumni and former Western instructor, with industry experience. • Dina Dawoud – Lecturer, Waterloo alumni in Biostatistics, and also a math exchange advisor. • Alice Pfeifer Hanov – Head Actsc advisor, person who schedules all the SAS courses and a Waterloo Arts alumni. • Riley Metzger – Lecturer, Head Stat advisor, and Waterloo alumni, twice (Bmath & Mmath), in Statistics. • Diana Skrzydlo – Lecturer, Waterloo alumni, twice (Bmath & Mmath), in Actuarial Science, with a Music minor.

  3. What do the advisors do? • Sign course override forms for all STAT and ACTSC courses (also, MTHEL 131). • Sign plan modification forms (used to declare ACTSC or STAT as your major) for all ACTSC and STAT plans. • Answer questions about courses in ACTSC and STAT. Things like pre-req or anti-req questions, offerings, order to complete them and so on. • Answer questions about the programs in ACTSC and STAT, such as electives needed, average to maintain, average calculation, how to do a double major or a minor with it. • Many, many more things!

  4. How do I get my question answered by an advisor? • First check the two FAQ pages on the department website. • If you can’t find your question, then you can either email the advisors at actscadv@uwaterloo.ca and statsadv@uwaterloo.ca or visit them during their regular office hours. • Hours are posted outside of M3 3106, on the department website http://uwaterloo.ca/sas/advising and weekly on the Waterloo Actuarial Science advisor facebook page.

  5. What is the SOA? - Society of Actuaries - • Professional body in the United States. Actuaries complete a series of professional exams to earn an actuarial credential. • ASA – Associate of the Society of Actuaries • CERA – Charted Enterprise Risk Analyst • FSA – Fellow of the Society of Actuaries (top level)

  6. What is the CIA?- Canadian Institute of Actuaries - • Professional Actuarial body in Canada. Actuaries complete a series of professional exams (SOA/CAS) to earn their Canadian actuarial credential. • Students can receive exemption from CIA exams by doing very well in their Waterloo courses. See our website for more information. • ACIA – Associate of the Canadian Institute of Actuaries • FCIA – Fellow of the Canadian Institute of Actuaries (top level) • CAS – Casualty Actuarial Society • A more specific professional body dealing with Casualty insurance.

  7. What will I need during first year to declare Actuarial Science or Statistics? To declare Actuarial Science in 2A you need the following: • Overall average (CAV) of ≥70% • Completed 10 courses (so no fails in first year) • Completed MTHEL 131 To declare Statistics in 2A you need the following: • Overall average (CAV) ≥60% • Math Faculty average (MAV) ≥65% You do not have to declare in 2A. You can declare later too.

  8. What if I want to declare BOTH Actuarial Science and Statistics? To declare a double in Actuarial Science and Statistics you need the following: • Overall average (CAV) of ≥70% • Math Faculty average (MAV) ≥65% • Completed 10 courses (so no fails in first year) • Completed MTHEL 131 • To complete the double you need to meet all of the Actuarial Science requirements PLUS have STAT 332, and 3 400-level Statistics courses.

  9. What is MTHEL 131? Introduction to Actuarial Practice Individual life insurance products. Introduction to property and casualty insurance. Introductory risk management, insurance pricing and valuation. Pension plan design. Think of it as Actuarial Science without all the math. It also includes a large writing component that will be submitted a few times. The course is offered every term, so if you aren’t in it now, make sure you sign up for it in Winter, otherwise you won’t be able to declare Actuarial Science in 2A.

  10. What other courses should I watch out for? • ACTSC 232 – often taken in 2B, requires ≥60% in ACTSC 231 and ≥60% in MTHEL 131 • ACTSC 331 – requires ≥60% in ACTSC 232 • MTHEL 300/ENGL 378 – will be offered starting Spring 2017, requires ≥70% in your first communication course (EMLS 101R, 102R, EMLS/ENGL 129R, ENGL 109, SPCOM 100, 223) • STAT 330, 333, 340 – require ≥60% in STAT 230 • STAT 331, 332 – require ≥60% in STAT 231

  11. 2016/2017 calendar changes When you declare a major you can use any calendar that has existed in your time studying. So for you that means 2015/2016 and later. Changes coming in 2016/2017 to Honours Actuarial Science: • Replace option of AMATH 231, 250 or MATH 239 with a requirement of AMATH 250 • Remove ACTSC 432 as a required course • Instead of 4 additional courses from a list, it will be 3 additional 300- or 400-level ACTSC courses 2 additional: 300- or 400 level ACTSC or from a specific list

  12. 2016/2017 calendar changes Changes coming in 2016/2017 to Honours Actuarial Science with Finance plan require you to complete the new Honours Actuarial Science plan plus the following: • Replace the requirement of 4 additional courses from a list or 400-level ACTSC and with smaller lists and specific required courses • 1 of AFM 472/424 or ACTSC 471/AFM 476 (advanced Finance course) • 1 of CS 370 or CS 371 • All of ACTSC 372, ACTSC 445, AFM 102 and CS 476. This plan requires a minimum of 26 math, and taking AFM 472/424 will leave you with 25, so you’d need to take another Math course.

  13. Summary of Important things to remember: • Communication skills are CRITICAL to be successful! • The 2015/2016 calendar and 2016/2017 calendar are VERY different for Actuarial Science • For Actuarial Science only, you will most likely want the 2016/2017 calendar • For Actuarial Science with Finance, you will most likely want the 2015/2016 calendar

  14. Thank you!Any Questions? Actuarial Science Advisor: email ACTSCadv@uwaterloo.ca Statistics Advisor: email STATSadv@uwaterloo.ca Advisor office hours: uwaterloo.ca/sas/advising For more information see our Frequently Asked Questions page: http://math.uwaterloo.ca/sas/current-undergraduate-students/frequently-asked-questions-actuarial-science or our First Year Frequently Asked Questions page: https://uwaterloo.ca/sas/current-undergraduate-students/faq-first-year-actuarial-science-students

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