Studying actuarial science in Canada will equip you with the fundamental and practical tools you will need to assess and forecast risk in order to make sound financial decisions. With this degree, you can have global opportunities to work in areas such as insurance, employee benefits and pensions, quantitative finance and management consulting. Studying actuarial science in Canada will allow you to study risk associated with insurance, pension, and investment plans.

However, you need to have the required documents needed before you can gain admission to study actuarial science in Canada. In this piece, I will walk you through the requirements needed to study actuarial science in Canada.

Requirements needed to study Actuarial Science in Canada

  1. Complete your Secondary School Education

    You must have completed your secondary education before you can study actuarial science in Canada. Additionally, you should have a strong foundation in subjects such as mathematics, accounting, calculus and English in your high school results. The overall minimum aggregate score you should have is 60-85%. However, this can differ across universities in Canada.

  2. English Proficiency Test

    You must write an English Language proficiency test if English is not your first language. It can be tests such as IELTS, or TOEFL. This test can vary based on the university you apply to. Additionally, each school will have the minimum score that you should have in the English test. The minimum score for IELTS is 6.5 overall with 6.0 band scores.

  3. Write a Statement of Purpose

    Some schools may require you to write a statement of purpose. This is an essay that explains why you want to study actuarial science in Canada and your career plans. This essay can be between 600 to 700 words.

  4. Financial Documentation

    You will be required to submit proof of your financial ability to pursue this program. Additionally, this document is also useful for international students to obtain a visa.

Requirements for Masters Degree in Actuarial Science in Canada

  1. Have a Bachelor’s Degree

    You must have a bachelor’s degree before you can study master’s in actuarial science in Canada. This bachelor’s degree must be a 4-year program from a recognised university. Additionally, this bachelor’s degree must be actuarial science or a related field. Furthermore, the minimum GPA score for this course is 3.0 on a scale of 4.0.

  2. Obtain Academic Transcripts

    This is the most basic requirement needed to apply to study actuarial science in Canada. You need to obtain the official transcripts of your previous education. This transcript should contain all the courses and grades you studied. Additionally, you should submit your transcript in English.

  3. English Proficiency Test

    You must write an English Language proficiency test if English is not your first language. It can be tests such as IELTS, or TOEFL. This test can vary based on the university you apply to. Additionally, each school will have the minimum score you should have in the English test. The minimum score for IELTS is 6.5 – 7.0. At the same time, TOEFL is 79 – 100.

  4. Write a Statement of Purpose

    A statement of purpose is a written essay or letter that describes why you want to study actuarial science. This can be a letter of motivation as well as a personal essay. This document is a major requirement for your application.

  5. Prepare a Resume

    You need to submit a resume with relevant experiences in the field of actuarial science. Additionally, your resume can also contain all the roles and certificates you have gained in this field.

  6. Letters of Recommendation

    You need to submit two or three recommendation letters during the application process. Additionally, these recommendation letters should come from your lecturers or employers. Therefore, you should not get recommendation letters from your friends or family.

How to Apply

You can apply to study actuarial science in Canada through the university’s website. You can apply for the undergraduate program as well as the postgraduate degree.

Duration

The duration for studying actuarial science in Canada can vary based on the program of your choice and the University. The Undergraduate program that will offer a bachelor’s degree lasts for a minimum of 3-4 years. However, a postgraduate program that will offer a master’s degree lasts for a minimum of 2 years.

Tuition Fee

The Tuition fee for studying actuarial science in Canada varies based on the program as well as the University. Additionally, this can vary based on the curriculum design, the location and the rank of the university. The average tuition fee for a bachelor’s degree is 15,000 CAD to 60,000 CAD annually. However, the tuition fee for a master’s degree is 10,000 CAD to 44,000 CAD annually.

Universities in Canada that offer Actuarial Science

  1. University of Toronto, Ontario
  2. University of Waterloo, Ontario
  3. McMaster University, Ontario
  4. University of British Columbia, British Columbia
  5. Western University, Ontario
  6. York University, Ontario
  7. HEC Montreal, Quebec State
  8. Simon Fraser University, British Columbia
  9. University of Alberta, Alberta
  10. McGill University, Quebec State
  11. University of Calgary, Alberta
  12. Laval University, Quebec State
  13. University of Montreal, Quebec State
  14. Queen’s University, Ontario
  15. University of Ottawa, Ontario
  16. Concordia University, Quebec State
  17. University of Quebec in Montreal, Quebec State
  18. University of Manitoba, Manitoba
  19. Wilfrid Laurier University, Ontario
  20. University of Guelph, Ontario
  21. Carleton University, Ontario
  22. Dalhousie University, Nova Scotia
  23. Quest University Canada, British Columbia
  24. University of Saskatchewan, Saskatchewan
  25. Ryerson University, Ontario
  26. Brock University, Ontario
  27. University of Windsor, Ontario
  28. University of Victoria, British Columbia
  29. University of New Brunswick, New Brunswick
  30. Memorial University of Newfoundland, Newfoundland and Labrador

In Conclusion, studying actuarial science in Canada can come with effective screening procedures for most universities. As a result, you must make your plans ahead and prepare every necessary document that is required. Additionally, you must confirm via the school’s website before applying. Finally, if you have any further questions or need assistance, please contact us.

Good luck!

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