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Actuarial Preparation FAQs
   

What is Actuarial Science?

   
  Actuarial Science is the discipline that applies mathematical and statistical methods to assess risks in insurance and finance industries.
   

What do Actuaries do?

   
  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.
   

What are the career prospects?

   
  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.
   

How to become an Actuary?

   
  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.
   

What are the eligibility criteria to appear for papers ?

   
  The eligibility criteria to appear for Actuarial papers are subjective. At a high-level –
   
- 10+2 passed students having attained 85% marks in Mathematics / Statistics
   
- Graduate or Post-graduate students with 55% aggregate or more on Mathematics, Statistics, Econometrics, Computer Science, and Physics papers
   
- CA, MCA, ICWA, CFA, MBA (Finance), Engineers
   
  For updated and detailed eligibility criteria, please visit :
  Click Here
   

How many papers are there ?

   
  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.
   
  • What is the duration of the course ?

   
  There is no fixed duration of the course. Ideally if pursued dedicatedly the course could be completed in 3-4 years.
   

When are the exams conducted ?

   
  The exams are conducted twice in a year .In India the exams are conducted in May/June and Oct/Nov.
   

How many attempts per paper can one make ?

   
  There are no restrictions on the number of attempts per paper.
   

Is it globally recognized ?

   
  Yes, it is a globally recognized course with mutual exemptions with a lot of other international actuarial institutes.
   

Do people having a mathematical background at an advantage ?

   
  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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