UPEI’s actuarial science program recognized by the Society of Actuaries
UPEI’s actuarial science program has been recognized by the Society of Actuaries (SOA) as being a university offering an actuarial program with advanced curriculum. The program is now designated as a UCAP–Advanced Curriculum program (UCAP-AC).
The program has been accredited by the SOA for the three required VEEs (Validation by Educational Experience): Accounting and Finance; Economics; and Mathematical Statistics. The SOA reviewed and validated the UPEI courses attached to each of the VEEs. An actuarial science student who achieves 70 per cent or above in each of these courses will receive accreditation for the associated VEE.
As well, UPEI has been certified by the SOA to meet the requirements to fully prepare students for all six (6) professional actuarial accreditation exams at the associateship level: Probability (P), Financial Mathematics (FM), Investments and Financial Markets (IFM), Long Term Actuarial Mathematics (Life Insurance and Pensions) (LTAM), Short Term Actuarial Mathematics (Health and Dental Insurance, Property and Casualty Insurance, and Loss Models) (STAM), and Statistics for Risk Modeling (SRM). To be accredited as actuaries, students must pass all professional exams at the associateship and fellowship levels.
“To achieve this level of recognition from the SOA is a remarkable accomplishment,” said Louis Doiron, FCIA, FSA, MAAA, Professor and Director, Actuarial Science and Financial Mathematics at UPEI. “UPEI is the only university in Atlantic Canada to have obtained recognition from the SOA for all three VEEs as well as all six professional accreditation exams being assessed and one of a very select group of universities across Canada and internationally. Recognition by the SOA speaks to the high calibre of our program and to our growing reputation in this area.”
UPEI’s actuarial science program started in the fall of 2016 and now has over 60 students in all four years. Actuaries are highly sought-after professionals who develop and communicate solutions for complex financial issues.
The SOA is the world’s largest actuarial professional organization with more than 31,000 actuaries as members. Through research and education, the SOA advances actuarial knowledge and enhances the ability of actuaries to provide expert advice and relevant solutions for financial, business, and societal challenges.