Actuarial Science

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Jan 14, 2024 22:34PM IST

Actuarial Science Overview

Actuarial Science is the discipline which applies statistical and mathematical approaches to the systematic observation of natural events in order to assess the risk of events occurring and to assist in the formulation of policies that minimise this risk and its financial impact on companies and clients. Basically, in the Actuarial Science course, the systematic observation of natural events is combined with statistical and mathematical methods to ascertain the probability of events occurring, their likelihood, and ways to reduce risk and its financial impact on customers and businesses. Financial risks in the finance and insurance sectors are studied by the field of actuarial science, which is a subfield of mathematics and statistics. The financial impact of uncertain future events are defined, analysed, and solved using probability and statistics mathematics. Actuarial science course syllabus covers insurance risk calculation, insurance premiums, and using mathematical and economic analyses to make financial and insurance investment decisions. Actuarial Science syllabus and subjects deals with topics like insurance risk calculation, application of economics, insurance premiums and mathematical analyses for making any decision in insurance investment, financial planning etc. 

Candidates for Actuarial Sciences Courses must have completed 10+2 with mathematics from a recognised board. There are several levels of courses available, with the majority of them falling into the management category. Actuarial Science courses are available at Amity University, Aligarh Muslim University, University of Mysore, Mumbai University, and other colleges, including BSc Actuarial Science, MSc Actuarial Science, PG Diploma in Financial Service, and others. 

Actuarial Science admission is based on entrance exams for undergraduate and postgraduate courses such as UPSEE and Actuarial Common Entrance Test (ACET). Students at the undergraduate and postgraduate levels can pursue an Actuarial Science Degree with Actuarial Science as one of the specialisations. Actuarial science courses are available at the Certificate, Diploma, UG, and PG levels for students interested in the field. Coursera, Udemy, and EdX all offer a variety of short-term certificates online in addition to full-time degree programmes. The course duration will vary according to the level of education. 

The Actuarial Sciences Course course fee ranges between INR 20K and INR 1.80L. Actuarial Science jobs are available upon completion of the course. Graduates can work as Risk Managers, Auditors, Budget Analysts, Economists, Cost Estimators, Financial Analysts, and other positions. The average Actuarial Science salary ranges from INR 3 LPA - INR 7 LPA.

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Actuarial Science Highlights

Tabulated below are some of the major highlights of the Actuarial Science Course.

Actuarial Science Highlights

Also Read: Actuarial Science Courses, Exams and Scope 

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Why Choose an Actuarial Science Course?

There is a global need for actuaries, particularly in the insurance and financial services sectors. There will always be a need for risk assessors and managers, which means actuarial skills will be in demand and jobs will remain stable.In the financial industry, actuaries are among the highest paid professionals. Their skills are highly valued, and their familiarity with risk management usually translates into competitive salary and benefits.

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What is an Online Actuarial Science Course?

If you are unable to complete the course in its regular mode, there is an online option for Actuarial Science. There are free certificate courses available for online Actuarial Science. Students will receive their certificate both offline and online once they have completed the course. Some colleges even require students to attend a traditional on-campus graduation ceremony.

Some of the courses available in Online Actuarial Science Certificate Courses are listed below.

Course NameProviderDurationAverage Fees
Actuarial Science for Non-ActuariesUdemy2.41 hoursINR 1,280
Introduction to Actuarial ScienceAustralian National University, edX8 weeksFree/ INR 3,557 for a certificate
Financial Investment & Risk ManagementPeter the Great St. Petersburg Polytechnic University, Coursera17 hoursFree Enrolment
Diploma in Risk ManagementAlison10 – 15 hoursFree
Business Statistics and Analysis SpecializationRICE, Coursera5 monthsFree Enrolment
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Difference Between Actuarial Science and Chartered Accountancy

There are two distinct finance-related fields of study: actuarial science and chartered accounting. An expert in actuarial science works with future risk factors and mitigation strategies. On the other hand, a chartered accountant handles the financial consequences of past events. Understanding the key distinctions between Chartered Accountancy and Actuarial Science is essential because those aspiring to careers in finance often choose the wrong path, mistakenly believing that the two fields are interchangeable. The following infographic lists the distinctions between the two career fields:

Actuarial ScienceChartered Accountancy
Actuarial science is a discipline that uses statistical and mathematical techniques to evaluate financial risks in the insurance and finance industries. Actuarial science defines, analyses, and resolves the financial ramifications of uncertain future events using the mathematics of probability and statistics.The professional practise of accounting, auditing, taxation, and financial assessment for an individual or an organisation is known as chartered accounting. An accounting professional who has been certified by a statutory body as competent to handle matters pertaining to the accounting and taxation of a business enterprise is awarded the designation of chartered accountant.
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Types of Actuarial Science Courses

Actuarial Science courses are offered through numerous levels such as Actuarial Science Undergraduate Course, Actuarial Science Postgraduate Course, Actuarial Science Diploma Course, Actuarial Science Certificate Course,  and Actuarial Science Doctoral Course programmes. Different colleges offer different levels of Actuarial Science courses. One can also get an Actuarial Science credential by studying in online mode.

Actuarial Science Certificate Courses

Actuarial Science certificate courses are the most convenient way to learn new skills. They are taught both online and offline.

  • Certificate courses can be completed in a matter of hours or over the course of six months
  • Certificate courses are self-paced and can be completed while still working
  • The typical starting salary for certificate course graduates ranges between INR 1.90 to 4 LPA

Online Actuarial Science Certificate Program

Some of the courses available in Online Actuarial Science Certificate Courses are listed below.

Course NameSourceDurationAverage Fees
Actuarial Science for Non-ActuariesUdemy2.41 hoursINR 1,280
Introduction to Actuarial ScienceAustralian National University, edX8 weeksFree/ INR 3,557 for a certificate
Financial Investment & Risk ManagementPeter the Great St. Petersburg Polytechnic University, Coursera17 hoursFree Enrolment
Diploma in Risk ManagementAlison10 – 15 hoursFree
Business Statistics and Analysis SpecializationRICE, Coursera5 monthsFree Enrolment

Actuarial Science Certificate Admissions Procedures

  • Both online and offline certificate programmes offer merit-based admission
  • All applicants must have successfully completed their class 12 or class 10 exit exams
  • There is no need to submit your entrance exam results
  • Admissions are open to all ages

Actuarial Science Diploma and PG Diploma Courses

Actuarial Science diploma and PG diploma courses are typically pursued in lieu of a regular degree programme.

  • In India, one can enrol in courses such as insurance, financial management, risk management, and so on
  • Diploma and PG diploma courses last one year and two years, respectively
  • Diploma holders earn an average starting salary of INR 2 to 5 LPA

Courses in Top Diploma & Postgraduate Actuarial Science

Below is a list of some of the best Actuarial Science diploma and postgraduate diploma courses available.

Course NameName of the CollegesAverage FeesDuration
Diploma Course in Capital MarketsAndhra UniversityINR 10K1 year
Diploma in Financial Services ManagementMumbai UniversityINR 44.89 K1 year
PG Diploma in Banking, Risk & Insurance ManagementAligarh Muslim UniversityINR 29.82 K1 year
PG Diploma Course in Banking and InsuranceUniversity of MysoreINR 13.50 K1 year
PG Certificate in Insolvency Bankruptcy Code ProgramAmity UniversityINR 1.1 LPA1 year
PG Diploma in Financial ServicesGuru Nanak Dev UniversityINR 23.77 K1 year

Admission Procedures for Graduate and Diploma Programs in Actuarial Science

Admissions to diploma and postgraduate diploma programmes are based on merit.

  • For the diploma programme, applicants must hold a certificate of completion from either the 10th or 12th grade, and for the PG diploma programme, they must hold a bachelor's degree
  • For admission to PG diploma programmes, some universities require relevant work experience, a written exam, a group discussion, and individual interview

Undergraduate Actuarial Science Courses 

Bachelor's degrees in actuarial science are three-year, full-time programmes. In these specialised courses, students learn how to participate in high-level decision-making processes and solve investment problems.

  • Actuarial Science specialisation is available in bachelor's level courses, as well as other related specialisations like Insurance
  • Courses at the bachelor's level last three years
  • Merit-based admissions are made in conjunction with entrance exams
  • For those with a bachelor's degree, the starting salary ranges from INR 3 to 6 LPA

List of Top Actuarial Science UG Courses

  • BCom Actuarial Science
  • BSc Actuarial Science

Actuarial Science UG Courses Admission Process 

Admission to Bachelor's level Actuarial Science courses is based on both merit and entrance examinations.

  • Candidates must have completed their 12th grade from a recognised educational board
  • Candidates must have completed Mathematics as a subject in the 12th grade
  • UPSEE, IPU CET, AIMA UGAT, and other entrance exams are available to candidates

Also Read: BCom vs Actuarial Science: Check Eligibility, Course Structure, Syllabus, Career Scope 

Actuarial Science Postgraduate Courses

Actuarial Science Masters programmes are two-year, full-time courses. After earning a bachelor's degree in actuarial science, one can pursue these courses, which concentrate on actuarial science specialisations.

  • Candidates may choose to pursue an MSc in Actuarial Science or a related field at the master's level
  • Additionally, it is the best choice for applicants who want to become professors in academia
  • Other areas of specialisation for master's programmes include risk management and insurance
  • A master's degree holder can expect to make between INR 5 and 7 LPA on average

List of Top Actuarial Science PG Courses

  • MSc Actuarial Science

Actuarial Science Postgraduate Admissions Procedures

At all universities, admission to master's programmes is determined by entrance exams and individual interviews.

  • To be eligible to apply, candidates must hold a bachelor's degree in statistics, mathematics, or actuarial science
  • The required minimum aggregate score is 60%
  • Scores from entrance exams like the ACET, KU PGCET, AUCET, SKUCET, etc. are frequently considered
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Actuarial Science Eligibility Criteria (UG & PG)

Listed below are the detailed eligibility criteria one must fulfill to become eligible for the Actuarial Science course.

For UG Actuarial Science Courses

  • Candidates must have completed a 10+2 from a recognized board in the Commerce stream with Maths
  • English should be one of the subjects in 10+2 
  • No age limit as such is required to opt for this course
  • A minimum of 60% aggregate in 10+2 and a minimum of 70% marks in Maths is compulsory

For PG Actuarial Science Courses

  • Candidates must have completed a BSc / BCom graduation degree from a recognized university
  • Mathematics and Statistics must be part of the core subjects of the graduation degree
  • A minimum of 50% marks should be obtained in the graduation degree examination or equivalent examination
     

Actuarial Science Skills Required 

Candidates must have the required skills in order to be accepted in an Actuarial Science course. Basic comprehension is required for this mathematically oriented course. An applicant should have the following skills, to name a few:

  • Analytical Skills: Numeracy & Mathematical Skills
  • Computer Skills: Interpersonal & Communication Skills
  • Problem Solving Skills: Knowledge of Business & Finance
  • Technical Knowledge: Basic Understanding of MS Office & Knowledge of Statistical Programming Language
  • Mathematical Brilliance: Calculus, Probability, Statistics
  • Knowledge of Business & Finance: Evaluation of Businesses, Calculation of Risks, Advising on Investment & Financial Decisions
  • Communication & Interpersonal Skills: Spoken English, Knowledge of Professional Statistical Concepts
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Actuarial Science Entrance Exams

Entrance exams are required for admission to almost all of India's top colleges that offer Actuarial Science courses. Students take national and state level entrance exams. The most well-known admission exam for Actuarial Science courses is the Actuarial Common Entrance Test (ACET) and CUET. The ACET is accepted by several central universities for admission to the Actuarial Science programme.

The list of top Actuarial Science entrance exams are:

  • Actuarial Common Entrance Test (ACET)

The Institute of Actuaries of India (IAI) only offers a formal Actuarial Science course in India. The institute conducts its own entrance examination at the university level called the Actuarial Common Entrance Test (ACET). ACET is conducted three times a year, in the months of April, June, and December. The exam revolves around 3 stages; CT, CA & ST. It is essential to clear all the 3 stages to get the IAI credentials of an actuary. The candidate who passes 10 exams qualifies as an Associate and the candidate who clears all exams qualifies as a Fellow of IAI.

Note: After passing ACET, the qualifiers must apply for membership within 3 years.

  • CUET 

The National Testing Agency (NTA) administers the Common University Entrance Test (CUET), a national entrance exam, to candidates seeking admission to undergraduate degree programmes at India's central universities. 
 

  • UPSEE 
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Actuarial Science Admission Process in India

Actuarial Science admissions processes vary amongst colleges. Some universities require applicants to pass an entrance exam, while others only admit students based on merit. Most colleges use the standard admissions procedure, which is covered in detail below. The ACET results are a major factor in admissions decisions for many colleges.

Step 1: Start by submitting an online application for admission to actuarial science.

Step 2: Pay the registration fee and any additional fees (which are assessed on a merit-based basis) that may be incurred during the admissions process. To be considered for admission to the Actuarial Science programme, candidates must take and pass an exam.

Step 3: Those who made the short list will be invited to the next round of interviews, group discussions, or counselling, depending on the structure of the selection process.

Step 4: Candidates must submit all necessary paperwork and fees in order to be accepted into the Actuarial Science programme after completing the previous steps.

Actuarial Science Admission Process in India
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Direct Actuarial Science Admission Process Without Entrance Exam

Admission to the Actuarial Science programme is usually determined by merit in most colleges and universities. A written 10+2 exam, an additional qualifying exam, and multiple in-person interviews are requirements for admission to the Actuarial Science programme. In such instances, the candidates' academic records and results on previous pertinent exams are typically taken into consideration when choosing the candidates.

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Actuarial Science Course Fees in India

Actuarial Science Course Fees may vary from college to college and from level to level. 

  • The average fee for an Actuarial Science UG Course is somewhere between INR 80K and INR 2 LPA
  • The average fees for Actuarial Science PG Courses range from INR 20K to INR 1.50 LPA
  • The average course fee to opt for an Actuarial Science Certificate Course is around INR 3,500. A lot of colleges offered this certificate course for free
  • With respect to Actuarial Science Diploma and PG Diploma courses, the average fee ranges from INR 10K to INR 1 LPA
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Actuarial Science Syllabus/Subjects

The complete Actuarial Science syllabus revolves around 5 major Actuarial Science subjects which are given below:

  • English
  • Mathematics
  • Statistics
  • Logic
  • Data Interpretation

A rough idea of the year-wise syllabus is provided below:

Actuarial Science First Year Syllabus

The Actuarial Science 1st year syllabus is provided below:

Semester 1 Semester 2
General Insurance-ISAP Courses
2 Dimensional Analytical GeometryNation and Individual Society
Application and Numerical MethodsKnowledge of the business environment in a global scenario
Understanding self for EffectivenessThe foundation of regulation of the insurance business 
Essential usage of the English LanguageGeneral Insurance-II
Functions of MathematicsStatistical Methods and Probability-II

Actuarial Science Second Year Syllabus

The Actuarial Science 2nd year syllabus is provided below:

Semester 3Semester 4
Calculus application in Actuarial Science Elective SubjectsForeign Business Language
Statistical Methods and ProbabilityCreation of Global New Ventures
Open Elective CoursesInnovative solutions and modern trends through technology management
Life Insurance-ILife Insurance –II

Actuarial Science Third-Year Syllabus

The Actuarial Science 3rd year syllabus is provided below:

Semester 5Semester 6
Methods of Applied MathematicsMinor Project – I
Strategizing using InnovationActuarial Application in IT-III
Actuarial Accounting –IIPrinciples of Finance
Probability & Statistical Methods - IIISampling Techniques
Actuarial Application in IT-IManagement Foundation
Outdoor Activity-Based CoursesOutdoor Activity Bases Courses

Actuarial Science is a 3-year-long bachelor’s course that is divided into 6 subjects. The syllabus may vary according to the institute. But some of the general subjects include:

  • Global Business Research
  • General Insurance
  • Actuarial Accounting
  • Foreign Economics
  • Mathematical Functions
  • Liability Insurance
  • Mathematics
  • Statistics & Probability
  • Calculus 
  • Business Research
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Actuarial Science Top Colleges

There are a lot of Actuarial Science colleges in India offering admission at different levels; UG, PG, Certificate and Diploma courses. One must do a detailed study about the pedagogy, location, curriculum, faculty, and infrastructure and then decide on the best college for themselves. Some of the top colleges in India offering Actuarial Science courses are mentioned below:

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Career Options After Actuarial Science Course

Actuarial Science is a subject that is required in almost every career field. Actuaries have a variety of career options in insurance companies. Aside from the insurance industry, Actuarial Science is required to work as a risk consultant for companies (of any sector), banks, financial consulting firms, the government sector, investment advisories, and so on.

The average salary for an Actuarial Science graduate is INR 3 - 6 LPA. However, depending on the skills acquired while studying for the Actuarial Science degree and previous experience in the field, candidates can earn significantly more.

A career in Actuarial Science ensures job security at all times, including during economic downturns. Following completion of the Actuarial Science course, the following job roles are available:

  • Budget Analyst: These professionals help both private and public institutions to manage their finances by preparing budgets for them. Budget Analysts also look into the annual spending of these organisations.
  • Economists: Economists evaluate the production and distribution of goods, services, and resources. They analyse data, research trends, and also look into economic issues an organisation might be facing.
  • Cost Estimators: These individuals collect data in order to calculate the time, material, money and labour required for product manufacturing, providing a service or constructing a building. 
  • Mathematicians: They do a lot of research in developing mathematical principles. Mathematicians evaluate data and apply mathematical tools and techniques in solving real-world problems.
  • Post-Secondary Teachers: These teachers help students by teaching them technical subjects related to finance and insurance. They also publish books and scholarly articles in the insurance domain and conduct a lot of readers around Actuarial Science.
  • Financial Analysts: Financial Analysts help in making decisions regarding investments undertaken by organisations. They do a detailed study of investment risks and benefits on the basis of the performance of bonds, stocks etc. 
  • Actuary: The main job of an actuary is to analyse risk situations and provide preventative measures and solve such problems. They are mostly required in insurance and pension domains as they can foretell future wrongs.
  • Insurance Underwriters: They decide whether the insurance companies provide insurance to individuals or organisations and if yes then on what terms and conditions. They also look into insurance premiums and coverage amounts.
  • Accountants & Auditors: They ensure that the finances of companies are well regulated, the taxes are paid on time and they also help in maintaining the financial accounts. They are responsible for the smooth functioning of companies.

Also Read: Career in Actuarial Sciences: Scope, Salary, Job Prospects

Actuarial Science Employment Areas

With the expanding corporate culture and the rise in commerce companies, the job prospects are relatively getting higher in the Actuarial Science domain. Actuarial Science professionals can find employability opportunities in the following sectors:

  • Financial Services
  • Stock Exchanges
  • Risk Management
  • Pension Funds
  • Investment Consultancy Firms

The demand for Actuarial Science professionals is increasing both in developed and emerging markets. With upgraded skills and experience, there is also a high chance of becoming a CEO of the company one is associated with. The CEO profile is like an asset to the company and is highly reputed. Actuarial Science course graduates have a secured future in both the public and private sectors.

Actuarial Science Top Recruiters

Pursuing an Actuarial Science degree is not at all easy and requires a lot of hard work. But after successfully completing the course one can definitely get high paying jobs. Some of the top recruiters of Actuarial Science graduates are mentioned below: 

  • Nationwide
  • ING
  • The Hartford
  • Towers Watson
  • Aon Hewitt
  • Allstate
  • The Travellers
  • EY
  • Liberty Mutuals
  • PwC Actuarial Services India 
  • Max Bupa Health Insurance
  • Prudential

Actuarial Science Salary

Actuary Science professionals are paid well.  The average salary after completing an Actuarial Science course ranges from INR 3 to 7 LPA. Furthermore, IAI graduates with years of experience may be eligible for an INR 30 LPA LPA package. The following are some of the best Actuarial Science Jobs, as well as the average Actuarial Science Salary.

Job ProfileActuarial Science Salary
EconomistsINR 5 LPA
AuditorINR 3.90 LPA
Financial AnalystsINR 3.50 LPA
ActuaryINR 6.60 LPA
Risk ManagerINR 6.35 LPA
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FAQs about Acturial Science

Is their any age limit for the Actuarial Science Course?

The Actuarial Science Course can be pursued only after at least a 10+2, i.e. the students must have been 18-19 years of age to pursue the Actuarial Science Course.

Who is India's youngest actuary?

Tanvi Doshi, India's youngest actuary, has completed all of her exams at the age of 23.
 

Which career path is best for an actuary?

Candidates for the position of Actuary should have a science or commerce background with Mathematics/Statistics as a core subject.

Is actuary more difficult than CA?

Actuarial exams are slightly more difficult than CA exams because the candidate must master extensive statistical, analytical, and mathematical skills.
 

Which is better, CA or actuary?

One of the more appealing aspects of both careers is the possibility of earning a lot of money as you pass all of the exams and advance up the career ladder. Having said that, actuaries generally earn more than accountants due to the higher skill level required for the role and the specialised nature of the career.
 

What is the mainstream work of an Actuarial Science graduate?

Actuaries mostly analyze and assess the financial costs of risk and uncertainty in an organization/ business. They use conceptual mathematics, statistics, and even financial theory to analyze the risk of potential events, and suggest businesses or clients to develop policies that can lower the cost of that risk. Their mainstream work is essential to the insurance industry.

Do actuaries use R or Python programming languages?

Yes, actuaries always use these two of the most well-known programming languages- R & Python. Both these languages provide the user with considerable functionality to perform the type of data analysis required by actuaries, including but not limited to, data visualization, and the calculation of statistical models and even data manipulation. 

Do actuaries use mathematical concepts when working?

Yes, actuaries work mainly revolve around mathematical concepts. They use probability, statistics, and financial mathematics when working.

Can an Actuarial Science Course offer a high paying job?

Yes, certainly an Actuarial Science Course can offer a high-paying job. A candidate with 7+ years of experience can easily expect an average salary package of more than INR 15 LPA. Actuarial Science graduates can also expect the highest salary of INR 55 LPA and sometimes even above depending upon skill set, organization, and individual work ethics.

Should I take an Actuarial Science Course or computer science course for a beneficial career ahead?

 An Actuarial Science Course degree is considered extremely specialised, whereas the Computer science degree allows for a broader range of applications. If one feels strongly for both professions, then it is recommended to choose a Computer Science degree and write the Actuarial Science Course professional exams on your own.

Who has a better salary package, an actuary or a data scientist?

Salary packages of an actuary and data scientist when compared, gives the result that actuary earns slightly higher than data scientist. Further, an actuary's remuneration may also depend upon the number of exams an actuary has passed, especially in the first couple of years of his/her Actuarial Science career. 

Which are the top most universities that offer the Actuarial Science Course?

The top most highly rated universities offering Actuarial Science include the following: 

  • Yale
  • Harvard
  • MIT 
  • Cambridge 
  • London School of Economics 
     

Which is the best country to study for the Actuarial Science Course?

Some of the best countries to study Actuarial Science Course include the following: 

  • Actuarial Science in the USA
  • Actuarial Science in New Zealand
  • Actuarial Science in Canada

Are the Actuarial Science exams tough?

These Actuarial Science exams are considered very tough. The preliminary exams are of 3 hours long duration, comprising 30-35 multiple choice questions, and the passing marks are typically only 30-40%, as a result of the enormous amount of material of study.

What kind of mathematical skills are taught under the Actuarial Science Course?

The mathematical skills taught under the Actuarial Science Course isn't as complex as it may sound. Mathematical concepts under Actuarial Science Course comprises of probability, statistics, and financial mathematics. The actuaries calculate the probability of events occuring in each month into the future, then apply statistical methods to determine the estimated financial impact.

Can an individual reappear in the Actuarial Science entrance exam after failing the previous one?

Yes, one can definitely reappear for the Actuarial Science entrance exam by registering for ACET. 

How long is the Actuarial Science Course?

The duration of the Actuarial Science Course depends upon the level chosen. An undergraduate Actuarial Science Course is completed in a duration of 3 years. If an individual pursues a postgraduate Actuarial Science Course then it will last for 2 years. With respect to the certificate Actuarial Science Course, the course can be completed in a tenure of 6 months-1 year. Whereas if a student pursues Actuarial Science Course as a diploma then the course duration lies between 6 months-2 and years. 

Do actuaries get paid well ?

Actuaries are very well paid. Experienced actuaries have the potential to earn INR 3,00,000-6,00,000 per annum, and many actuaries even earn more than this. Remuneration may vary significantly according to years of experience, geographic region, responsibilities and industry knowledge.

What qualification is required for the Actuarial Science Course?

To pursue the Actuarial Science Course, individuals must have completed their 10+2 with minimum 50% aggregate in Science stream, comprising core subjects like Chemistry, Physics and Mathematics from a recognised board.

What is the Actuarial Science Course?

The Actuarial Science Course trains students to use statistics and mathematics to assess risk for insurance companies, financial institutions, and any other field where risk is a big part of operations. Most of the Actuarial Science Course takers are highly trained in these methodologies and demonstrate this ability by taking courses and passing the Actuarial Science Course exams.

Is Actuarial Science a good career option?

Yes, Actuarial Science is a great option. Actuaries are required worldwide and are in demand in banks, insurance firms and financial institutions. It is estimated that till 2028, there will be a 20% increase in Actuarial Science jobs in the US alone. 

Are actuaries in demand?

Yes, actuaries always stay in demand because of growing financial companies. Actuaries are always required to analyse potential risks and solve financial challenges. 

Who is an Actuary?

An actuary is a finance professional who aids organisations by evaluating unforeseen financial risks situations and suggests preventive measures. They are required to regulate and ensure the smooth functioning of financial companies.

Is it worth it to take up an Actuarial Science degree?

Yes, finance industry jobs are growing rapidly and degrees like Actuarial Science are well paying and secure the future of the candidate.

Is Mathematics an essential subject for pursuing Actuarial Science?

Yes, Maths is an essential subject as Actuarial Science is all about employing mathematical techniques to real-life financial problems. It is necessary to have Mathematics in both Class X and XII and even in the undergraduate degree.

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Related Questions

p

priyal Babbar, Student / Alumni

-Answered on Feb-05-2024
Hi there, LPU offers several MBA programs with various specializations such as HR, Finance, Hospitality, Healthcare and many more. The admission for the next academic session has begun. You can register and book your LPUNEST slot. If you are awaiting your result then you can take provisional admission as well. Good Luck
S

Subhashri Roy, Student / Alumni

-Answered on Jan-05-2024

Dear student,

Around 126 colleges are accepting XAT score 2024. Some of the top MBA colleges accepting XAT score 2024 include the following:

You can also check out the XAT score vs percentile 2024 to predict your chances of getting into the XAT participating colleges. 

For admission-related assistance, please fill out our Common Application Form or call on our toll-free number 1800-572-9877. 

Thank you.

P

P sidhu, Student / Alumni

-Answered on Dec-20-2023
LPU NEST 2024 Application Form has been released via online mode. Exam Dates have been announced. It stands for Lovely Professional University National Eligibility and Scholarship Test. LPU NEST exam is conducted in different slots from January and April onwards. It is a university level entrance exam which is conducted for various courses including B.Tech, MBA etc. Candidates who want to get admission in Undergraduate and Postgraduate programmes can enrol in the exam. No. of LPU graduates are working at various MNC’s at high paying packages across the globe. Mittal School of Business, which attracts students from various parts of the world, is one of India’s foremost ‘Business Schools’ recognized for its industry-oriented and technology focussed curriculum, interactive and hands-on pedagogy, accompanied by intensive industry interface which also involves training of national and international industry professionals. A multidisciplinary campus and multicultural environment suffused with student activity ensures all round development of its graduates, grooming them for successful entrepreneurship and global careers. LPUs Mittal School of Business exhibits a rich diversity among students and faculty who flock to this centre of excellence from all parts of the country and across the globe. We believe that innovation and excellence flourishes in an environment that embraces diverse perspectives and nurtures free expression which ultimately helps them to adjust to any work environment while celebrating divergence.

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