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  #2  
5th August 2014, 09:35 AM
Super Moderator
 
Join Date: Apr 2013
Re: Process to Become an Actuary

Actuarial science is the study and application of mathematical and statistical methods for risk management in the banking and finance sector.

To Become an Actuary first of all Complete a bachelor's degree in areas of mathematics and finance

After Then you have to clear your CA final examination, after that you will be exempted from entrance test and you just have to get a reference from an existing actuary

The Fellow membership of The Institute of Actuaries of India is achieved by passing examinations at various stages and fulfilling other conditionality as required from time-to-time. The examinations can be taken after being enrolled as a Student member.

Types of Actuaries
Enterprise Risk Management (ERM)
Investments
Retirement Benefits
Group & Health Insurance
Finance
Individual Life & Annuities
Chartered Enterprise Risk Analyst (CERA)

List of Actuarial Sciences colleges in India:
Annamalai University,Tamil Nadu
University of Kalyani, West Bengal
Andhra University, Visakhapatnam
AMITY School of Insurance and Actuarial Science,Noida(ASIAS)
University of Madras, Chennai
Birla Institute of Management Technology, New Delhi
Narsee Monjee Institute of Management Studies, Mumbai
Bishop Herber College, Tiruchirappalli
DS Actuarial Education Services (DS ActEd), Mumbai
Jaipuria Institute of Management, Lucknow
University of Delhi, Delhi
Berhampur University,Orissa
RNIS College of Insurance, New Delhi
Aligarh Muslim University,Aligarh
University of Mumbai, Mumbai
Manipur University ,Canchipur, Imphal
CMD School of Insurance and Actuarial Sciences, Uttarpradesh
Kurukshetra University,Kurukshetra
Dr. Ram Manohar Lohia Avadh University, Faizabad, U.P.
Institute for Integrated Learning in Management (IILM), Noida
Gurunanak Dev University, Amritsar
Goa University, Goa
  #3  
29th May 2015, 08:59 AM
Unregistered
Guest
 
Re: Process to Become an Actuary

Hello Sir, I want to become an Actuary. Would you like to tell me about the procedure to become an Actuary?
  #4  
29th May 2015, 09:00 AM
Super Moderator
 
Join Date: Apr 2013
Re: Process to Become an Actuary

Actuary is a person who calculates and examines statistics and uses them to calculate insurance risks and premiums.

Here, I am giving you details to become an Actuary.

Eligibility Criteria:

First, applicant need to pass class 12th with Mathematics/ Statistics and should have at least 85% marks in class 12th.
After it applicant need to pass Graduates or Post Graduate degree in Mathematical subjects with at least 55% marks.
Candidates with CA/ CS/ ICWA/ MBA (Finance)/ PGDBA will also become an Actuary.

Age Criteria:
The minimum Age of candidate is 18 years.

Skills required for Actuary

Honesty
Hard working
Communication skills

Steps to apply for Actuary

Step1: Applicant need to take a course including 15 subjects with 14 compulsory and 1 optional subjects.

Following are the subjects:

CT series (Core Technical Stage)

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-Economics
CT8-Financial Economics
CT9-Business Awareness Module

CA series (Core Applications Concepts)

CA1-Core Applications concepts consisting of assets and liabilities
CA2-Modelling,
CA3-Communications

ST series (Specialist Technical Stage) - Any two subjects

ST1-Health & care Insurance
ST2-Life Insurance
ST3-General Insurance
ST4-Pension & other employee benefit
ST5-Finance & Investment A
ST6-Finance and Investment B

SA series (Specialist Application Stage) Any One Subject

SA1-Health & Care
SA2-Life Insurance
SA3-General Insurance
SA4-Pension & other Employee Benefit
SA5-Finance
SA6-Investment

Step 2: Certificates in Actuarial Techniques
Step 3: Now you are eligible to apply for Actuary

Job areas:

In the field of Life Insurance

AMP Sanmar Life Insurance Co.Ltd
Allianz Bajaj Life Insurance Co.Ltd
Birla Sun Life (Distributor Co.Ltd)
Aviva Life Insurance Co.Ltd.
HDFC Standard Life Insurance Co.Ltd.
ICICI Prudential Life Insurance Co.Ltd.
ING Vysya Life insurance Co.Ltd
Om Kotak Mahindra Life Insurance Co.Ltd.
Max New York Life Insurance Co.Ltd.
Met Life Insurance Co.Ltd.
SBI Life Insurance Co.LTD.
TATA AIG Life Insurance Co.Ltd.
Life insurance Corporation (India’s first and the biggest government sector Life insurance corporation)

Non-Life Insurance

Bajaj Allianz
HDFC Chhub GIC ltd
ICICI Lombard General Insurance Co Ltd
IFFCO-TOKIO General Insurance Co Ltd.
Reliance GIF
Royal Sundaram GIC
Cholamandalam GIC
TATA AIG
Oriental Insurance
United India Insurance
National Insurance Co
General Insurance Corporation
New India Assurance Company


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