Financial Insurance (MFI)

Frequently asked questions

• How much does Financial Insurance (MFI) cost?

  CAD 65,730 / year.

• What English score does it need?

  IELTS 7.0 overall is the score listed for this programme.

• How long is it?

  3 sessions full-time (typical registration sequen…, as listed by the university.

• What are the entry requirements?

  School of Graduate Studies minimum: for master's programs, an appropriate bachelor's degree, or its equivalent, with a final-year average of at least mid-B from a recognized university; for doctoral programs, an appropriate master's degree, or its equivalent, with an average of at least B+, or demonstrated comparable research competence. Some departments admit directly to the doctoral program from a bachelor's degree for highly qualified candidates (minimum average A- required). "Many graduate units have higher minimum requirements than the minimum SGS requirements." Source: https://www.sgs.utoronto.ca/future-students/admission-application-requirements/ || Graduate-unit requirement for this degree, from the SGS Graduate Calendar 2026-27 ("Statistical Sciences: Financial Insurance MFI"): • Applicants are admitted under the General Regulations of the School of Graduate Studies. Applicants must also satisfy the Department of Statistical Sciences' additional admission requirements stated below. • An appropriate bachelor’s degree from a recognized university in a related field such as statistics, mathematics, finance, and actuarial science, or any discipline where there is a significant quantitative component. Studies must include significant exposure to statistics, mathematics, finance, and actuarial science, including coursework in advanced calculus, computational methods, linear algebra, probability, and statistics. • An average grade equivalent to at least a University of Toronto B+ in the final year or over senior courses; applicants who meet the SGS grade minimum of mid-B and demonstrate exceptional ability through appropriate workplace experience will be considered. • Three letters of reference including two academic references, one of which should be in a quantitative discipline. • A curriculum vitae detailing the student's educational background, professional experience, and skills. • Applicants whose primary language is not English and who graduated from a university where the language of instruction and examination was not English must demonstrate proficiency in English using one of the official methods outlined in the SGS Calendar . • Selected applicants may be required to attend an interview. Admission to the program is competitive, and achievement of the minimum admission standards does not guarantee admission into the program. || Minimum admission average published for international applicants: MFI: B+ (final 5.0 credits) || International credentials: U of T publishes the degree it requires from each country through the SGS international degree equivalencies tool at https://www.sgs.utoronto.ca/future-students/admission-application-requirements/international-credentials-equivalencies/ · English: IELTS 7.0 (no band below 6.5); TOEFL iBT 93 · English test waiver: Normally not required if: your native language is English (first learned and still used daily); you are a Canadian citizen who studied at a Canadian university where the language of instruction is French; you obtained your admitting degree from an institution recognised by U of T where the language of instruction and examination is uniformly English; or you completed your admitting degree in Australia, the Bahamas, Barbados, Botswana, Ghana, Guyana, Hong Kong, Ireland, Jamaica, Kenya, Lesotho, Liberia, Malawi, Malta, Namibia, New Zealand, Nigeria, Papua New Guinea, Sierra Leone, Singapore, South Africa, Swaziland, Tanzania, Trinidad and Tobago, Uganda, the United Kingdom, the United States, Zambia or Zimbabwe. Some applicants from those countries may still be asked for proof. Tests must have been taken within the last 24 months. Source: https://www.sgs.utoronto.ca/future-students/admission-application-requirements/english-language-proficiency-testing/ · GRE/GMAT: MFI: ELP requirement IELTS/TOEFL (School of Graduate Studies programme page; SGS also states "Some graduate units require a Graduate Records Examination (GRE). Check with your graduate unit.") · Application fee: CDN $130, non-refundable and non-transferable. "A supplementary application fee may be assessed depending upon the program to which you are applying." Source: https://www.sgs.utoronto.ca/future-students/admission-application-requirements/ · Deposit: University of Toronto does not publish a single admission-deposit amount. Its published rule is: "Review your offer letter if it indicates that you need to make a non-refundable admission deposit. You will pay your admission deposit through ACORN... Your Offer Letter has more information about the admission deposit." Refunds are "granted only in exceptional circumstances, such as the denial of a study permit". Source: https://future.utoronto.ca/fees and https://www.registrar.utoronto.ca/fees-payments/understanding-your-fees/

• Is there a scholarship?

  U of T publishes graduate award and funding information through the School of Graduate Studies at. Many research-stream graduate programmes at U of T are funded; funding arrangements are set by the graduate unit, not by SGS, and U of T does not publish a single figure. International doctoral students are charged the DOMESTIC tuition rate (see fee_basis) View scholarship page