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ACTUARIAL SCIENCE
 Highly rewarded profession…
 Corporate level jobs with great salary packages…
 One of the most respective professions…
 In so many “Job Surveys”, it was @ #1…
 The Global Course i.e. international market available for a practicing
actuary…
 Great career even if passed some papers of CT SERIES
 Exam. Centre (both for IAI and IFoA)spread across the world including
one at Ahmedabad ,India
 Paper wise exemption available in one Institute based on passing same
paper at other Institute
 Passing ratio is normally high in IFoA,U.K. around 40-50%
12th PASS
+ A lots of dedication to study…
Actuarial science ppt
 ACET
 Core Technical Series
 Core Application Series
 Specialized Technical Series
 Specialized Application Series
…Now let us look at them one by one…
 ONLY REQUIRED FOR ACTUARIES INDIA (IAI)
 NOT REQUIRED FOR ACTUARIES.U.K
Eligibility:- 12th PASS
 Subjects:- Mathematics & Statistics.English,Data
analysis ,logical reasoning
 MCQ based Examination
 50% negative marking
 Examinations are conducted twice in a year in April
and September
All the papers are of 100 marks and no
negative marking + no passing criteria i.e. merit based
results…
Examinations are conducted twice in a year in
May and November…
One can give maximum any three papers from
the following papers in a single diet…
 CT1:- Financial Mathematics
 CT2:- Finance and Financial Reporting
 CT3:- Probability and Mathematical Statistics
 CT4:- Models
 CT5:- General Insurance, Life and Health
Contingencies
 CT6:- Statistical Methods
 CT7:- Business Economics
 CT8:- Financial Economics
 CA1:- Actuarial Risk Management ( The exam of this
paper is held in two parts i.e. to clear this paper we
have to give 200 marks paper which is divided in two
parts and also on different days)
 CA2:- Model documentation , Analysis and Reporting
( 2 days residential practical )
 CA3:- Communication ( 3 days residential practical )
Here we have to choose any two of the below
Subjects whichever we like…
 ST1:- Health and Care
 ST2:- Life Insurance
 ST4:- Pension and other employee benefits
 ST5:- Finance and Investment A
 ST6:- Finance and Investment B
 ST7:- General Insurance –reserving & capital modeling
 ST8:- General Insurance –pricing
 ST9:- Enterprise Risk Management
 Here any one of the following is to be
chosen…
 SA1:- Health & Care
 SA2:- Life Insurance
 SA3:- General Insurance
 SA4:- Pension and other employee benefits
 SA5:- Finance
 SA6:- Investment
 1 Paper of ACET(ONLY FOR ACTUARIES ,INDIA)
 9 Papers of Core Technical
 3 Papers of core Application
 2 Papers of Specialized Technical
 1 Paper of Specialized Application
 Totally 15 Papers…excuding ACET
…you can say that…
Actuarial science ppt
UK Actuaries are comparatively costlier
than Indian Actuaries…Because of Higher exchange
rate of Pound…(around Rs.10000 per paper and
subscription fee of 7500 per year)
Institute of Actuaries of India’s Rates:-
Papers Book Fees / Paper Exam Fees / Paper
CT Series 2500 2000
CA 1 4500 6000
ST Series 4000 3200
SA Series 5000 4000
 Student Member:- For being a student member you
have to clear ACET for Institute of Actuaries of
India..But for Institute and Faculty of Actuaries CT1 is
as an entrance.
 Associate Member:- For being an associate member
you have to clear CT & CA Series.
 Fellow Member:- For being this one have to clear all
the papers + 3 years of actuarial working experience
 The job “actuary” has been rated as 2013’s best job in the United States by
Careercast.com. Careercast.com ranked actuary as No. 1, biomedical engineer at No.
2, and software engineer, the top job of 2012, at No.3.
 Careercast.com ranks careers based on dozens of factors, such as the degree of
hazards personally faced, physical demands (crawling, stooping bending, etc.),
income growth potential, employment outlook, competitiveness, travel and contact
with the public. The firm used data from the Bureau of Labor Statistics and other
government agencies to determine the rankings. As in prior years, the 200 jobs were
selected for their relevance in the current labor market as well as the availability of
reliable data.
 The Ten Best Jobs:
 Actuary
 Biomedical Engineer
 Software Engineer
 Audiologist
 Financial Planner
 Dental Hygienist
 Occupational Therapist
 Optometrist
 Physical Therapist
 Computer Systems Analyst
 How long does it take to become an Actuary?
-> Being an actuary requires passing a series of examinations to earn an
actuarial designation IAI or IFoA. See the Actuarial Exams section for all of the
details on actuarial exams. It could take from 6-10 years to pass all of the exams,
but you can begin a career as an actuary by passing the first two exams, and
then taking subsequent exams while working as an actuarial assistant.
 How do potential actuaries decide which type of actuarial work to
pursue? -> When it comes time to choose the IAI or IFoA exam track,
choosing the one that's right for you requires asking some questions about the
aspects of actuarial science you enjoy most. Consider pursuing an internships
on both sides of the typical actuarial divide—property/casualty and life and
health. Keep in mind that while some may consider the different types of work
involved, for most, it depends on practical considerations such as what jobs are
available in the geographic are you want to live in.
 How much money will I make as an actuary?
-> Actuaries are well compensated. Experienced Fellows have the potential to
earn from $150,000 to $250,000 annually, and many actuaries earn more than
that.
Actuarial science ppt
So finally…
Again… if you love 2Ms…
1. Math
2. Money
Then go for…
The World’s Best…
ACTUARY

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Actuarial science ppt

  • 2.  Highly rewarded profession…  Corporate level jobs with great salary packages…  One of the most respective professions…  In so many “Job Surveys”, it was @ #1…  The Global Course i.e. international market available for a practicing actuary…  Great career even if passed some papers of CT SERIES  Exam. Centre (both for IAI and IFoA)spread across the world including one at Ahmedabad ,India  Paper wise exemption available in one Institute based on passing same paper at other Institute  Passing ratio is normally high in IFoA,U.K. around 40-50%
  • 3. 12th PASS + A lots of dedication to study…
  • 5.  ACET  Core Technical Series  Core Application Series  Specialized Technical Series  Specialized Application Series …Now let us look at them one by one…
  • 6.  ONLY REQUIRED FOR ACTUARIES INDIA (IAI)  NOT REQUIRED FOR ACTUARIES.U.K Eligibility:- 12th PASS  Subjects:- Mathematics & Statistics.English,Data analysis ,logical reasoning  MCQ based Examination  50% negative marking  Examinations are conducted twice in a year in April and September
  • 7. All the papers are of 100 marks and no negative marking + no passing criteria i.e. merit based results… Examinations are conducted twice in a year in May and November… One can give maximum any three papers from the following papers in a single diet…
  • 8.  CT1:- Financial Mathematics  CT2:- Finance and Financial Reporting  CT3:- Probability and Mathematical Statistics  CT4:- Models  CT5:- General Insurance, Life and Health Contingencies  CT6:- Statistical Methods  CT7:- Business Economics  CT8:- Financial Economics
  • 9.  CA1:- Actuarial Risk Management ( The exam of this paper is held in two parts i.e. to clear this paper we have to give 200 marks paper which is divided in two parts and also on different days)  CA2:- Model documentation , Analysis and Reporting ( 2 days residential practical )  CA3:- Communication ( 3 days residential practical )
  • 10. Here we have to choose any two of the below Subjects whichever we like…  ST1:- Health and Care  ST2:- Life Insurance  ST4:- Pension and other employee benefits  ST5:- Finance and Investment A  ST6:- Finance and Investment B  ST7:- General Insurance –reserving & capital modeling  ST8:- General Insurance –pricing  ST9:- Enterprise Risk Management
  • 11.  Here any one of the following is to be chosen…  SA1:- Health & Care  SA2:- Life Insurance  SA3:- General Insurance  SA4:- Pension and other employee benefits  SA5:- Finance  SA6:- Investment
  • 12.  1 Paper of ACET(ONLY FOR ACTUARIES ,INDIA)  9 Papers of Core Technical  3 Papers of core Application  2 Papers of Specialized Technical  1 Paper of Specialized Application  Totally 15 Papers…excuding ACET …you can say that…
  • 14. UK Actuaries are comparatively costlier than Indian Actuaries…Because of Higher exchange rate of Pound…(around Rs.10000 per paper and subscription fee of 7500 per year) Institute of Actuaries of India’s Rates:- Papers Book Fees / Paper Exam Fees / Paper CT Series 2500 2000 CA 1 4500 6000 ST Series 4000 3200 SA Series 5000 4000
  • 15.  Student Member:- For being a student member you have to clear ACET for Institute of Actuaries of India..But for Institute and Faculty of Actuaries CT1 is as an entrance.  Associate Member:- For being an associate member you have to clear CT & CA Series.  Fellow Member:- For being this one have to clear all the papers + 3 years of actuarial working experience
  • 16.  The job “actuary” has been rated as 2013’s best job in the United States by Careercast.com. Careercast.com ranked actuary as No. 1, biomedical engineer at No. 2, and software engineer, the top job of 2012, at No.3.  Careercast.com ranks careers based on dozens of factors, such as the degree of hazards personally faced, physical demands (crawling, stooping bending, etc.), income growth potential, employment outlook, competitiveness, travel and contact with the public. The firm used data from the Bureau of Labor Statistics and other government agencies to determine the rankings. As in prior years, the 200 jobs were selected for their relevance in the current labor market as well as the availability of reliable data.  The Ten Best Jobs:  Actuary  Biomedical Engineer  Software Engineer  Audiologist  Financial Planner  Dental Hygienist  Occupational Therapist  Optometrist  Physical Therapist  Computer Systems Analyst
  • 17.  How long does it take to become an Actuary? -> Being an actuary requires passing a series of examinations to earn an actuarial designation IAI or IFoA. See the Actuarial Exams section for all of the details on actuarial exams. It could take from 6-10 years to pass all of the exams, but you can begin a career as an actuary by passing the first two exams, and then taking subsequent exams while working as an actuarial assistant.  How do potential actuaries decide which type of actuarial work to pursue? -> When it comes time to choose the IAI or IFoA exam track, choosing the one that's right for you requires asking some questions about the aspects of actuarial science you enjoy most. Consider pursuing an internships on both sides of the typical actuarial divide—property/casualty and life and health. Keep in mind that while some may consider the different types of work involved, for most, it depends on practical considerations such as what jobs are available in the geographic are you want to live in.  How much money will I make as an actuary? -> Actuaries are well compensated. Experienced Fellows have the potential to earn from $150,000 to $250,000 annually, and many actuaries earn more than that.
  • 19. So finally… Again… if you love 2Ms… 1. Math 2. Money Then go for… The World’s Best… ACTUARY