Exams and VEE

Actuarial Organizations in the North America 

  • Society of Actuaries (SOA): Life Insurance, Health, Pension and Investments.
  • Casualty Actuarial Society (CAS): Property and Casualty.
  • Canadian Institute of Actuaries (CIA).
  • American Academy of Actuaries (AAA).

U of T Courses for SOA exams

  • Exam P: MAT137Y, MAT237Y, STA257H, STA347H
  • Exam FM: ACT240H, ACT245H
  • Exam MLC: ACT247H, ACT348H, ACT455H
  • Exam MFE: ACT245H, ACT370H, ACT460H
  • Exam C: ACT451H, ACT452H, ACT466H, STA261H

U of T Courses for CIA University Accreditation Program

Students who enrol in the four-year Specialist Program in Actuarial Science are prepared to write Exam P (CAS Exam 1). By the end of their second year, students will have taken courses to earn credit for Exam FM (CAS Exam 2). At the end of their fourth year, students will have taken courses to earn credit for Exams MLC (CAS Exam 3L), MFE (CAS Exam 3F), and C (CAS Exam 4). In addition, there are courses in the program related to material in some specialty Fellowship exams.

  • Exam FM: ACT240H(70%), ACT245H(70%)
  • Exam MLC: ACT247H(70%), ACT348H(70%), ACT455H(70%)
  • Exam MFE: ACT370H(75%), ACT460H(75%)
  • Exam C: ACT451H(75%), ACT452H(75%), ACT466H(75%)

Validation by Education Experience (VEE) Requirement 

The VEE requirement is jointly sponsored by the Society of Actuaries (SOA), Casualty Actuarial Society (CAS) and Canadian Institute of Actuaries (CIA).

  • There are three VEE topics: micro- and macro-economics; applied statistics; corporate finance
  • To obtain VEE credits, a person/candidate must take and pass VEE approved courses with a grade of B- or better, and submit a Candidate Credit application to SOA or CAS.

A person must pass two SOA or CAS actuarial exams before applying for VEE credit.

U of T Courses for VEE Credit

  • Economics: St. George and UTM
    ECO100Y, ECO105Y, ECO202Y + ECO206Y, ECO204Y + ECO209Y, ECO206Y + ECO208Y
    UTS ECMA02Y, ECMA03Y, ECMA01H + ECMA05H, ECMA04H + ECMA06H,ECMB04Y + either ECMA05H or ECMA06H
  • Corporate Finance: St. George and UTM
    ACT349H, ECO358H + ECO359H, RSM332H + RSM333H, ECO2503H + ECO2504H, MGT331Y, MGT337Y, RTM337Y UTS MGTC09H + either MGTC03H or MGTB09H
  • Applied Statistical Methods: St. George and UTM  (Not Required for CAS)
    STA457H + either STA302H or STA250H or STA322H or ECO220Y, STA1001H + STA2202H, ECO327Y, ECO375H + ECO376H