Education and Career Forum

i am waiting b.com final result in Pakistan
i want to know about actuarial science?
how to take admition?
its syllabus? and its requirement in Pakistan.
please.

MY dear friend i hope this very information might help you..

Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance and other industries and professions.
There are five preliminary exams, all of which are multiple choice.
They are administered on computers at Pro metric testing centers or via pencil and paper..

ELIGIBILITY CRITERIA:
Before enrolling as a student member, the candidate has to pass an entrance examination conducted by the Actuarial Society of India. This test comprises one paper in mathematics (3 hours) and one paper in English (3 hours), and is held twice a year in May and November. You are eligible for an exemption from the entrance test and become a member of the ASI if have satisfied all the following eligibility criteria.

•Completed 18 years of age.
•Fulfilled any one of the following educational standards — Passed Class-12 or equivalent with at least 85% in mathematics or statistics.
.Graduate or postgraduate with mathematical subjects. For this purpose, the subjects that constitute mathematical subjects are mathematics or branches, statistics or sub classifications, econometrics, computer sciences, any discipline of engineering, or a subject in science such as physics or its branches. Apart from this, you should have secured at least 55% in the course.
.MBA/ PGDBA having mathematics or statistics content.
.Fully qualified professional of professional bodies like the Institute of Chartered Accountants of India (ICAI) or Institute of Cost Work Accountant of India (ICWAI).
•A fully qualified member of a professional body such as ICAI, ICWAI or ICSI recommends your application.

Salary of an Actuary
After becoming a fellow of IAI one can earn anything from Rs 20 lakh to Rs 30 lakh per annum. With experience of more than 10 years, the actuaries salary can go up to a crore per annum.


Course Fees:
The registration fee for the entrance exam is Rs.3,000. This covers the cost of the study material, the online exam and the online tutorial. In CT series the exam fee per paper is Rs.2000; for CA it is Rs.6000 and for ST series it is Rs.5500 per paper and for SA series it is Rs.4000.

Colleges for Actuarial Science:
1)Institute of Actuaries of India, 302, Indian Globe Chambers, 142, Fort Street, Off D N Road, Mumbai.

2)Amity School of Insurance and Actuarial Science, NOIDA
Course offered - MSc (Actuarial Science and Applications)
Eligibility: Graduation in Maths/ Stats/ Econometrics/ Computer Sc./ Engineering/ Physics (Min. 55% in Mathematical Subject)
Duration: 2 years

3)SVKM's NMIMS University, Mumbai
Course: MBA (Actuarial Science)
Eligibility: Graduates/ Post Graduates in Statistics/ Mathematics/ Engineering/ Economics with minimum 50% marks in aggregate at degree level. Graduates/ Post Graduates from other disciplines will be eligible provided they have obtained minimum 80% marks in Mathematics in 12th Standard. Work Experience: Work Experience in Actuarial Department of Insurance/ Finance/ consulting firms will be preferred.

So basically frnd,,
Actuaries make use of statistics and mathematics formulas to create models for solving business problems. They are involved in pricing and management of investments and use their understanding of insurance, pension and other liabilities to manage the assets. In the insurance sector, they create price policies to ensure that insurers have the money to cover claims. They help in designing and advising on pension plans also.

Actuary jobs can be found in insurance sector, financial services, banking and with financial funds. Actuaries get employed by government and private companies specifically ,
Insurance, Life insurance Health insurance ,, Human resource consulting

THANKYOU