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| Actuarial Preparation FAQs |
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What is Actuarial Science? |
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Actuarial Science is the discipline that applies mathematical and statistical methods to assess risks in insurance and finance industries. |
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What do Actuaries do? |
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Actuaries are experts in analyzing financial impacts of tomorrow’s uncertain events. Actuaries add value by enabling businesses and individuals to make informed decisions with a clearer view of the likely range of financial outcomes from different future events. |
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What are the career prospects? |
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Actuaries work in a wide range of areas like life insurance, general insurance, pensions and employee benefits, health insurance, reinsurance companies, investment, consultancies and risk management. |
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How to become an Actuary? |
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In India a fellow member of the Institute of Actuaries-India (IAI) is known as an Actuary. To become a fellow a one has to first become a student member of the Institute and then clear all the papers of the Institute and fulfill other criteria from time to time. |
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What are the eligibility criteria to appear for papers ? |
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The eligibility criteria to appear for Actuarial papers are subjective. At a high-level – |
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10+2 passed students having attained 85% marks in Mathematics / Statistics |
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Graduate or Post-graduate students with 55% aggregate or more on Mathematics, Statistics, Econometrics, Computer Science, and Physics papers |
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CA, MCA, ICWA, CFA, MBA (Finance), Engineers |
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For updated and detailed eligibility criteria, please visit : |
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Click Here |
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How many papers are there ? |
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There are a total of 15 papers: 9 in CT series, 3 in CA series, 2(out of 6) in ST series and 1(out of 6) in SA series. |
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What is the duration of the course ?
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There is no fixed duration of the course. Ideally if pursued dedicatedly the course could be completed in 3-4 years. |
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When are the exams conducted ? |
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The exams are conducted twice in a year .In India the exams are conducted in May/June and Oct/Nov. |
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How many attempts per paper can one make ? |
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There are no restrictions on the number of attempts per paper. |
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Is it globally recognized ? |
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Yes, it is a globally recognized course with mutual exemptions with a lot of other international actuarial institutes. |
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Do people having a mathematical background at an advantage ? |
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A good grasp of basic mathematical/statistical concepts could prove beneficial. However, in the long run your hard work and dedication would count the most. |
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