Actuarial Science FAQs

High school students should apply directly for admission into the Actuarial Science major. Please visit the Admissions page for instructions on how to apply to SFU.

Students from other post-secondary institutions who have not yet completed a bachelor’s degree should apply directly for admission into the Actuarial Science major. Please visit the Admissions page for instructions on how to apply to SFU. For any admissions-related questions, please contact the Faculty of Science Recruitier, Claire Wilson (science_recruiter@sfu.ca). 

SFU students interested in transferring to Actuarial Science must meet the internal admission criteria. Internal admission to the Actuarial Science major is based on performance at SFU: students are required to have a grade of B- or better in ACMA 101 and ACMA 201, and to maintain a 2.50 GPA across all ACMA/STAT/MATH/MACM/CMPT courses at SFU.

If you are interested in applying for a second undergraduate degree in Actuarial Science, we recommend that you first consult with the Actuarial Science Advisor. Also, please see the "Second Degree Students" section below for further details about completing a second degree in Actuarial Science.   

For those who completed their first degree at SFU:

You can simply apply for reactivation by completing the form on this page. Choose "Science" as the faculty when completing the form. If approved by the faculty, you will initially be labelled a "non-degree seeking student."

For those who completed their first degree elsewhere:

As a university graduate (degree holder), you will need to apply initially as a "non-degree seeking student" in the Faculty of Science. Then, once you are admitted, please refer to the internal admission criteria in the answer to Question #3 above.

ACMA 201 is offered in Spring semesters only.

No. You can take ACMA 201 as soon as you meet the prerequisite (MATH 152 with a minimum grade of C; or MATH 155 or MATH 158 with a grade of at least B).

Please visit this page to find suggested course enrolments. However, please be advised that the availability of courses is subject to change.

Because ACMA courses tend to be offered only once a year (sometimes only once every two years), it is recommended that you consult with the Actuarial Science Advisor to plan ahead for future semesters.

You can find the link to future STAT and ACMA course offerings here.

You can find projected course offerings for MATH courses here.

Projected course offerings for BUS courses can be found here.

Yes. This applies to the Business courses listed under the requirements of the Actuarial Science Major or Honours. Please see the program requirements in the University Calendar.

Yes, if you meet the admission requirements of the Actuarial Science program and have the necessary course prerequisites. You must request approval from the Actuarial Science Faculty Advisor, Barbara Sanders (bsanders@sfu.ca).

There are no required ACMA courses available in Summer semesters, so this can be a good time to take required/elective courses in other subject areas (e.g., ECON, BUS, MATH, STAT, CMPT, ENGL/PHIL). Another option is to complete co-op work terms in Summer semesters. However, keep in mind that the Summer semester is the most competitive semester for securing co-op positions because this is when most Actuarial Science students want to do co-op work terms. Please see the Co-op section below for more details.

It depends on your “requirement term”. A requirement term is generally the semester in which you were admitted to a program. You can find your requirement term on the first page of your advising transcript under "Req. Term". It is a four-digit number that starts with '1' and ends with 1/4/7. The middle two numbers indicate the year. The last number indicates the semester (1=Spring, 4=Summer, 7=Fall). So, for example, 1231 is the semester code for Spring 2023.

To find the requirements for your requirement term, go to the Academic Calendar listing for the Actuarial Science major (or Actuarial Science honours, if applicable). In the URL, change the year and semester to match your requirement term.

In certain cases, you may be allowed to follow the requirements of a newer requirement term, if you choose. For details, please consult with the Actuarial Science Advisor. Please note that following requirements other than those of your requirement term will likely affect the accuracy of your Academic Progress Report (APR).

Please consult with the Actuarial Science Faculty Advisor, Barbara Sanders (bsanders@sfu.ca).

To continue in the Actuarial Science (or Statistics) program, students must maintain a GPA of at least 2.25 in courses labeled MATH, STAT, and ACMA. Actuarial Science majors must achieve a CGPA of 2.5 or better to graduate.

MATH 154 or MATH 157, with a grade of at least B, can be accepted in place of MATH 150/151.

MATH 155 or MATH 158, with a grade of at least B, is accepted as an equivalent prerequisite for ACMA 201, and for satisfying the lower division requirements of the Actuarial Science Program.

No. Upper division courses can only be applied to one major/honours/minor. If, for instance, you wish to take BUS 312 to satisfy the requirements for a Business Major, then you cannot use it to satisfy the specific course requirements for the Actuarial Science Major.

Each upper division course can be counted toward only one of the two majors. In the case of STAT 330 (which is required for both majors), you will need to take an additional upper division course as a substitute. Please consult with the Statistics Advisor (statadv@sfu.ca) early in your degree to discuss the most appropriate course substitution in your case.

Second degree students need to complete all required upper division courses for the Actuarial Science major or honours. In addition, students must complete any lower division courses that are prerequisites for upper division required courses (if they do not have credit for these courses, or their equivalents, from their first degree). This will likely include ACMA 201 and STAT 285. For questions about course equivalency, please email the transcript from your first degree and detailed course outlines to the Actuarial Science Faculty Advisor, Barbara Sanders (bsanders@sfu.ca).

Assuming that your first degree included calculus (MATH 151, 152, 251), linear algebra (MATH 232/240), and a first course in probability (STAT 270), it will take about two years of study. This is due to the prerequisite structure between the courses and the fact that some of the courses are only offered every second year, or due to completing co-op work terms. Some students choose to take more than the minimum number of courses required for the Major in order to assist them in their preparation for the professional exams and the Validation by Educational Experience (VEE) requirements.

Once a degree has been completed, you cannot transfer credits to a different degree/institution. However, you may be able to use credits completed in your first degree to get a course waiver or substitution. Please consult with the Actuarial Science Faculty Advisor, Barbara Sanders (bsanders@sfu.ca).

Yes, co-op is available to all SFU students (including second degree students). Most Actuarial Science students participate in the co-op program. Please consult with Natalie Erickson (natalie_erickson@sfu.ca), the Co-op Coordinator for the Actuarial Science program.

Ideally, you should contact the Co-op Coordinator, Natalie Erickson (natalie_erickson@sfu.ca), as you approach 30 credit hours (otherwise, as soon as possible after that). Transfer students (from a different post-secondary institution) should consult with Natalie Erickson as early as possible once they have started at SFU.

Students generally go on a co-op work term as early as the summer of their second year of full-time post-secondary studies, shortly after they complete ACMA 201.

It is very helpful towards landing that first placement to have completion of ACMA 301 and to know calculations in Excel spreadsheets and Visual Basic. Good communication skills are also of paramount importance.

There are no ACMA courses available in Summer semesters, so this is generally a good time to complete co-op work terms. But please note that this makes Summer semesters the most competitive time to secure co-op positions. If you are unable to get a co-op job for a Summer semester, it is recommended that you try for other semesters. Due to course availability, this may push back your graduation date. However, keep in mind that doing co-op work terms is a great way to make connections and gain experience in the field. Many of our graduates have gone on to work for their co-op employers after graduation.

See this page for details.

Information regarding the profession, syllabi for the examinations, examination schedules, examination application forms and job opportunities can be found at:

• Society of Actuaries
• Casualty Actuarial Society
• Canadian Institute of Actuaries

The four most important factors that they look at are:

• Good performance in university
• Progress with the professional examinations (2 to 4 exams)
• Computing skills
• Communication skills (extremely important!!)