Actuarial Science

 Actuarial Science is a discipline that assess financial risk in difference sector using
Mathematical & Statistical methods.
 Takes around 7-10 year to complete all exams.
 Scope of Actuarial science-
a. Financial Services
b. Insurance Sector
c. Banking Sector
d. Stock Exchange
e. Risk Mgmt.
f. Pension Funds & Employee benefits
g. Investment consultancies

 Top recruiters in actuarial sector-

a. Prudential
b. EY
c. PWC Actuarial Services India
d. Wilson Tower Watson
e. Liberty Mutual
f. The Travelers
g. The Hartford
h. ING
i. Aon Hewett
j. Max Bupa Health insurance

How to became an Actuaries

Through IAI
 Through IAI
Step- 1] Enroll in Institute of Actuaries in India (IAI)
Step- 2] Clear the Actuarial Common Entrance Test (ACET)
Step- 3] Appear in Actuarial exams (15 subjects)

Registration for ACET Exams:

 ACET is conducted by IAI
 ACET exam held three times a year (March, June, December)
 Registration fees is Rs. 3000
 Consist of 70 ques of 100 marks (45ques* 1marks; 20 ques* 2marks; 5ques* 3marks)
 Consist of 5 sections-
1) Mathematics- 30 marks
2) Statistics- 30 marks
3) Data Interpretation- 15 marks
4) English- 15 marks
5) Logical reasoning- 10 marks
 Passing marks is 50%
 Steps-
1) Go to ‘actuariesindia.org’
2) Signup for ACET
3) Fill the form & pay exam fee

Actuarial Exam pattern:

 Divided into 4 series- Core Principles, Core Practices, Specialist Principles, Advance
Specialist.

Exam Stage Name of Exam Fees (INR)

Core Principles

CS- 1 Actuarial Statistics 5000

CS- 2 Risk Modelling & Survival Analysis 5000

CM- 1 Actuarial Mathematics 5000

CM- 2 Financial Engineering & Loss reserving 5000

CB- 1 Business Finance 3000

CB- 2 Business Economics 3000

CB- 3 Business Management 10000

 Core Practices

CP- 1 Actuarial Practice 8000

CP- 2 Modelling Practice 10000

CP- 3 Communication Practice 8000

Specialist Principles (any two)

SP- 1 Health & Care 6000

SP- 2 Life Insurance 6000

SP- 4 Pension & Other benefits 6000

SP- 5 Investment & Finance 6000

SP- 6 Financial Derivatives 6000

SP- 7 General Insurance reserving & Capital Modelling 6000

SP- 8 Pricing- General Insurance 6000

Specialist Advanced (any 0ne)

SA- 1 Health & Care 7500

SA- 2 Life Insurance 7500

SA- 3 General Insurance 7500

SA- 4 Pension & Other benefits 7500

SA- 7 Investment & Finance 7500