Frequently Asked Questions

Admissions.

What fraction of applications do you accept?
Usually we receive approximately 500 completed applications. Almost all are very reasonable applicants who could do well. Our class size is 30.
My background meets all the requirements for the Program. Are you are obligated to admit me?
We receive more qualified applicants than we have capacity for in the Program. Unfortunately, this means that we are obliged to turn away many people who would be able to complete our Program successfully.
I am sorry not to have been admitted. Please tell me what is wrong with my application.
There could be nothing wrong with your application. Competition is very intense, and we cannot admit every eligible candidate.
What courses should I take to strengthen my profile for admission into the mmf Program?
First of all, take courses you enjoy. If those happen to coincide with our recommended curriculum, then you could be a good candidate for our Program. The best preparation for our Program is a lot of math. Specifically, we recommend some sort of theoretical probability or real analysis, linear algebra, and ordinary differential equations. Basic statistics is also useful. More advanced mathematics such as stochastic processes or partial differential equations also don't hurt.
Attached to the e-mail are my CV and a summary of my transcript. Would you please review these documents and give me an informal assessment of my chances for admission?
I'm sorry, we cannot do that outside of the normal admissions procedure. We take each application seriously and evaluating one is a lot of work. We cannot do this properly until we have received the completed application and can place it in context with all other applications.
May I submit my completed application before the deadline in order to get a head start on the admissions process?

No.  Online applications are available after September 20.  We do not read documents before the entire application period is completed and all documents are filed.

Where can I download the reference letter form?
We prefer free-style letters with no specific preset format from academic sources and have no form available for downloading.
When will I hear about admissions decisions?
The Admissions Committee evaluates applications throughout January and February. Initial acceptances may be issued by the end of February, and by mid-April most of the decisions have been made and communicated by e-mail.
I am very disappointed not to have been offered admission this year. Can you tell me what courses I should take so that I may be admitted next year?
We cannot offer you advice on any courses that will guarantee you admission into the Program. We will be happy to evaluate your resubmitted application again in the following year.
I have a very strong business background, but my quantitative knowledge is weak. Am I a suitable candidate for this Program?
Unfortunately No. Our program is designed for people who have a strong quantitative background.
I studied in Singapore where the official language of study and examination is English. Do I still need a TOEFL?
You do not as long as we receive documentation from your University stating this information.
I am an non-Canadian citizen but I did my 4-year undergraduate degree at a Canadian university. Do I still need a TOEFL?
No, yet the Admissions Committee will be reviewing your English communication skills.
What is my TOEFL instruction code?
Please use code 0982.
What is the graduate studies code?
The code is 99.
Can I give you my reference letters?
No. Reference letters must be uploaded directly from your referee, or mailed to the Program directly from your referee.
I have already taken similar courses listed on the website, can I be exempt from them?
No, all courses are mandatory.

Financial Matters

Do you offer financial aid?
Unfortunately, we are unable to offer any form of financial support or teaching assistantships. Canadian residents may apply for educational loans from Scotiabank. Canadian residents currently enrolled in a Canadian university may apply at their university for NSERC and specific SHRC awards.  Students from some countries may also apply for an award from the Canadian Government for international students.
I was excited to be admitted to the program, and I sent my first two deposits in April and in July. But another opportunity has just opened up for me. May I have a refund of my deposits?
We congratulate you on your new opportunity, but all deposits and fees are non-refundable. We have a limited number of spaces each year.
Can I work part-time while enrolled in the program?
The Program is only 1 year in length and the curriculum is very demanding and intense with lectures, coursework and lab sessions spread over full days. You will not have any free time.
Is your program worth the tuition?
Each potential student must answer that for him- or herself. We do have an excellent track record at assisting graduates to secure careers in the finance industry.

Internships

Do you guarantee an internship?
We work very hard to secure internship placements and historically our record is exceptional. However we are unable to guarantee a placement for each student as students apply for positions through an interview process and the firms make the decision on whether or not to hire.
Should I find my own internship sponsor or should I wait for you to provide contacts?
We strongly encourage you to use any contacts you may have. We only ask that you coordinate with us, and that you do not randomly approach potential employers, since there may be an overlap with our existing contacts.
Are all the internships in Toronto?
The majority are in Toronto, but we have had opportunities across Canada, in the USA, and internationally.
Who really is in charge of the internship process, the student or the mmf program?
Fundamentally, you are in charge. The internship process is an important learning experience, and for many of our students it is their first exposure to the interview and job placement process. The actual process is a delicate balance: we coordinate much of the logistics and we guide you to the extent necessary, but you are the one going to interviews and you are the one who may be working there in January. Experience shows that the students who take the most active role have the most positive experience, and have the best preparation for the subsequent full-time job process.
I really want to work in trading/energy/commodities/etc. Can you find me an internship in that area?
We have only a limited ability to tailor internship positions to individual interests. If you really want to do something specific, you should take the initiative to find something in that area, and we will help as much as we can.