About Actuarial
10/03/2021 2024-06-02 16:30About Actuarial
ACTUARIAL SCIENCE
A Career Choice Worth Exploring
Actuarial Science is all about a proven method of understanding the current scenarios and identifying potential risks that can cause damage to the business. The extensive study of actuarial science and standardization of the analysis enables an actuary to adopt a problem solving approach.
Alpha Plus Delhi specializes in Actuarial Science coaching. We provide Actuarial coaching in India. Students can join Actuarial Science online or Offline coaching classes as per their convenience.
ACET
CS1
CS2
CM1
CM2
CB1
CB2
CB3
Hybrid Classes
Recorded Session & Class E-Notes
Extensive Study Material
Mock Test to be Conducted to Evaluate
Your Preparation
Doubt Solving Sessions
(Access 24x7 Doubt Forum)
Training, Placement and Assistance
to be Provided
Actuaries are no less then
SUPER HEROES!
Do you want to be one ?
Actuaries are one of the world’s
highest paid professionals.
Being part qualified, actuarial student can
earn over Rs. 3.5 – 8.0 lakhs per annum.
Actuarial profession is equally comparable
with Engineers, Doctors, MBA, CA etc.
It is a profession where jobs chase you
rather than you chasing jobs.
Actuarial profession has
0% unemployment rate.
Best profession along with
degree programme.
Globally recognized profession which
has an international acceptance.
Actuaries top the list
“10 Best Jobs in 2015”
What is Actuarial Science ?
“It is about Calculating money-related risks.”
Statistics
Probability
Knowledge of Business & Economics
Actuarial Science is a discipline that applies Mathematical and Statistical Methods to analyze and manage the financial implication of future rifts. An Actuaries uses data from the past and present to predict the future. Actuaries need to quantified how the future will be different from the past.
Why Actuarial Science ?
- You want an intellectually challenging career
- Make a difference through numbers
- Real life application with great impact
What Does Actuaries do ?
A In An Insurance Company
Product development, Pricing, Valuation and regulatory reporting
In Government Insurance Department
Review laws and regulations Surveillance
In a Consulting Firm
Advise clients, Design pension plans and compensation
In a Financial Institution
Investment Portfolio Management in General in Management
ACTUARIAL SCIENCE FEE
SINGLE SUBJECT
Online Class Room Fees:
₹ 24,000/-
Recorded Lectures Fees:
₹ 20,000/-
Ideal Subject Competency
Required
in Actuarial Science
A Strong Foundation in Mathematics
Analytical and problem solving skills
Ability to communicate effectively
Strong computing skills
Good Business Sense
Probability and Statistics
Ability to see both sides of an issue
Steps to Become an Actuary!
First Pass Your 10+2 Get Your Certificate With Maths & English
Pass 2 Exams CS1 and CM1 Should be Your first Exams
Technical skills Excel, Advance Excel, R, Advance R , VBA, SAS & Python
Actuarial Internship Even a Related Position In Under Writing , Investments Or Data Analysis Would Be Great
Entry Level Jobs Be Open to Opportunities in Pension Retirement Benefits Schemes Or Insurance
Pass Next Five Exams, Complete 7 Modules
Attain Associate Ship, Pass 3 Core Principle Exam & Minimum 1 Year Work Experience in Actuarial Industry
Attain Fellowship, Pass 3 More Exams Complete 12 Modules & Minimum 3 Years of Work Experience in Actuarial Industry
Major Fields of Actuarial Work
Life Insurance
General Insurance
Statistical Services
Investment Banking
Interprise Risk Management
Corporate Finance
Pensions & Employee Benefits
Government Service
Education
Investment Management
Health Care Financing
Actuarial Roles in Companies
Actuarial Roles in General Insurance
- Pricing and Reserving
- Determination of Loss Provision
- Determination of other Provisions
- Design or Testing of Reinsurance Programme
- Determining Reinsurance Bad Debt Provision
- Dynamic Financial Analysis
Actuaries in Health & Care
- Demographic Studies
- Projecting Future Costs
- Design of Financing Mechanism
- Health Insurance Products
- Cost - Benefit Analysis of Treatments
- Financial Appraisal of Alternatives Strategies
- Financing Long – Term Care
Actuaries in Investment
- Portfolio Management
- Research and Analysis
- Portfolio Performance Measurement
- Asset / Liability Management
- Strategic Asset Allocation
- Investment Indices
- Complex Financial Instruments
Role of Actuary in Financial Institution
- Design and Pricing of Products
- Pricing Guarantees and Options
- Reserving for Liabilities
- Estimating Fair Value for Accounts
- Asset Liability Management
- Investment Strategy
- Reinsurance / Securitization
- Analysis of Experience
Role of Appointed Actuary
- Adviser to Board and Senior Management
- Responsible for Assets as well as Liabilities
- Continuous Financial Monitoring
- Annual Valuation of Assets and Liabilities
- Hot Line to Supervisor in Case of Difficulties
- Operating Under Professional Standards
Role of Actuary in Pension
- Funding
- Actuarial Valuation
- Investment
- Individual Transfer Values
- Add. Voluntary Contribution
- Bulk Transfers
What We Study ?
The aim of Actuarial Statistics CS1 is to provide a grounding in mathematical and statistical methods that are of relevance for actuarial work. It equips the student with knowledge of statistical distributions, methods to summaries data, regression models and the fundamental concepts of Bayesian statistics.
The aim of the Actuarial Mathematics subject is to provide a grounding in the principles of modelling as applied to actuarial work - focusing particularly on deterministic models which can be used to model and value known cashflows as well as those which are dependent on death, survival or other uncertain risks.
The aim of the Business Finance subject is to provide a basic understanding of corporate finance including a knowledge of the instruments used by companies to raise finance and manage financial risk provide the ability to interpret the accounts and financial statements of companies and financial institutions.
The CB3 Business Management subject is designed to help you understand the business environment in which you will be working, your professional responsibilities and how to tackle business-related problems. It is a practically focused programme, which includes some preparatory work ahead of a business simulation game, completion of a workbook, with some short exercises, and finally an online test. Individuals are encouraged to have work experience before entering for CB3.
The aim of Subject CS2 is to provide a grounding in mathematical and statistical modelling techniques that are of particular relevance to actuarial work, including stochastic processes and survival models and their application. It develops knowledge of and the ability to apply statistical methods for risk modelling.
The aim of the Financial Engineering and Loss Reserving subject is to provide a grounding in the principles of modelling as applied to actuarial work - focusing particularly on stochastic asset liability models and the valuation of financial derivatives. These skills are also required to communicate with other financial professionals and to critically evaluate modern financial theories.
The aim of the Business Economics subject is to introduce students to the core economic principles and how these can be used in a business environment to help decision making and behaviour. It provides the fundamental concepts of microeconomics that explain how economic agents make decisions and how these decisions interact. It explores the principles underlying macroeconomics that explain how the economic system works, where it fails and how decisions taken by economic agents affect the economic system.
The aim of Actuarial Statistics CS1 is to provide a grounding in mathematical and statistical methods that are of relevance for actuarial work. It equips the student with knowledge of statistical distributions, methods to summaries data, regression models and the fundamental concepts of Bayesian statistics.
The aim of Subject CS2 is to provide a grounding in mathematical and statistical modelling techniques that are of particular relevance to actuarial work, including stochastic processes and survival models and their application. It develops knowledge of and the ability to apply statistical methods for risk modelling.
The aim of the Actuarial Mathematics subject is to provide a grounding in the principles of modelling as applied to actuarial work - focusing particularly on deterministic models which can be used to model and value known cashflows as well as those which are dependent on death, survival or other uncertain risks.
The aim of the Financial Engineering and Loss Reserving subject is to provide a grounding in the principles of modelling as applied to actuarial work - focusing particularly on stochastic asset liability models and the valuation of financial derivatives. These skills are also required to communicate with other financial professionals and to critically evaluate modern financial theories.
The aim of the Business Finance subject is to provide a basic understanding of corporate finance including a knowledge of the instruments used by companies to raise finance and manage financial risk provide the ability to interpret the accounts and financial statements of companies and financial institutions.
The aim of the Business Economics subject is to introduce students to the core economic principles and how these can be used in a business environment to help decision making and behaviour. It provides the fundamental concepts of microeconomics that explain how economic agents make decisions and how these decisions interact. It explores the principles underlying macroeconomics that explain how the economic system works, where it fails and how decisions taken by economic agents affect the economic system.
The CB3 Business Management subject is designed to help you understand the business environment in which you will be working, your professional responsibilities and how to tackle business-related problems. It is a practically focused programme, which includes some preparatory work ahead of a business simulation game, completion of a workbook, with some short exercises, and finally an online test. Individuals are encouraged to have work experience before entering for CB3.
Actuarial Science FAQs
- When to Start Studying for Actuarial Exams ?
One can start studying for actuarial exams after age 17 or passing 12th exams and there is no upper age limit Ideally one should start after 12 exams because of late awareness most students start after graduation.
- Selecting Your 1st Actuarial Paper?
Students who have just passed class 12th should start with CS1 AND THOSE STUDENTS who are graduated and want to start actuarial exam should appear for CM1.
- Coaching or Self Study ?
With the help of self study one can pass exam but difficult to pass interviews, because Actuarial is less about knowledge of formula’s more about application of those formula’s. Coaching is better for first 10 exams
- How to Pass Actuarial Exam Quickly & Effectively?
Student must start appearing for exams just after 12th ,initially one exam per semester after words two exams . One has select exams in synchrony with you college studies.
- What if after passing few exams ,can I change my carrier ?
Yes surely the knowledge of those will also help in other fields like data science, AIML, banking and finance and many more
- Are there jobs for fresher's ?
The ans is definitely yes. There are huge opportunities for fresher’s in actuarial just after few exams.
- How long is actuarial course ?
Usually it take 4 to 6 years to complete all exams.
