Actuarial Sciences
AOA,
I am just going to start my A levels.My future plans are to become Acturier.But still i don hav much information about it it.I only know that this field is related to Maths.N by the grace ofAllah i got good skills in Maths.And especially i wan to do Actuarial Sciences from any University of Canada.I need to know abt some information:
1) What is the scope of Actuarial Sciences in Pakistan?
2) What is the major requirements of Actuarial Sciences?
3) What would be the Expenses of doing Actuarial Sciences from Canada for an International Student??
4) How long it’ll going to take??
No related posts.
Hi,
You might have already seen this but answers to most of your questions are given in this post.
http://www.pkstudent.com/2008/04/28/advice-needed-in-chosing-a-career-in-the-field-of-acturial-sciences/
I currently do not know the exact numbers for how the degree will cost in Canada. I’m actually trying to find somebody who is more knowledgeable about this topic than me. If I do, I’ll give you his contact information so that you can get more information.
good luck
loads of information at this site
http://www.beanactuary.org/
[...] Actuarial Sciences [...]
[...] Actuarial Sciences [...]
i am in 2 year intermmediate and i want to do acturial scince from CANADA on scholar ship can any 1 help me secondly i want to know is there some institution or company which send student abroad
Hi,
I am in great need of complete guidance of this field.
Questions:
1. What are the grade requirements for O’& A’levels?
2. As soon as I complete my A’levels, what do I have to do to proceed with my studies for being an Actuary?
3. What country and which university is highly recommended for proceeding with the study of Actuarial Sciences?
4. How much time will be required?
5. scholarships and all costs of doing Actuary?
Please, it will be really humble of anyone to guide me…
if u wana b actuary soo dnt take admsn in any uni…strt prepartn urslf 4 SOA paperzz…there r 3 uni in pak which r runing the acturial progrm 1st is in islambad,k.u n CBM…
i m doing my bs in economics from university of peshawar. at the time is i m eilligible to get addmition in masters in Actuarial science from pakistan or else where!!!!!
i’m in my final year of a’level…..and im in great need of info about this field…..my main ques is what’s its scope! in pakistan specially…
i would suggest that u all should go for actuarial degree offered by CBM(if u want to do it from Pakistan) and take SOA papers as well… i am doing the same and passed 2 SOA exams…
I WANT UR SCHOLARSHIP.
I truly appreciate this post.I’ve been looking all over for this! Thank goodness I found it on Bing.You have made my day! Thanks again
just fuck me i am a gay
Is Acturial Sciences a fellowship or a Degree which is aquired by doing bachelorship?
Now you’ve got your new web site and also you’re eager to start making some sales! However, how can you make sales if you happen to shouldn’t have excessive volumes of tourists to your website?
I am master student.I am interested in maths & I want some information about acturial science.I read about acturies has a great scope, so i need some information .Please send me some help
did anyone (specially from a-levels) go for this field?
i have completed alevels and i am waiting for my result. recently i appeared for an interview in a takaful firm. they asked me to appear for an actuarial exam first before my training. can anyone tell me where can i find study manuals for P and FM exams?
hello moiz,
i am also interested in actuarial sciences and have applied in CBM for it..
can u tell me where did u give a interview ?
sorry M. Aun, i cant tell you because i went through a reference. i can only tell you that if you dont have a strong reference then appear for the FM and P exams first and then go to efu or state life for the job
moiz, i really need ur help, bcoz i want to ask that particular firm that should i just give professional exams for SOA or do my actuarial science degree from CBM and Karachi University and give those professional exams side by side.
secondly, do they provide any training for these professional exams nd hire them..
Even i gave my A2 exams this year, email me ur contact no. so we can help one another !
contact me at 0345-2111097. no prank calls please
hey, im new to this field, i did my A lvls this yr, got B in maths. i want to know how can apply for this study nd where, becuz i live in lahore nd hav no plans of moving around. i could go out of cities to giv papers. but i need help. can anyone plz guide me?
Hey,i just did my A levels and got a B in maths.
I also got admission in CBM.I want to know if i should do anything else besides doing Bs in actuarial science?
AOA I just wanted to know which universities in pakistan offer degrees for actuarial and if u can give me some idea about the things we study in actuarial
anyone who need tutions or study material can contact.
sadiqrox_45@hotmail.com
can any one let me know is there any university in islamabad that offer actuarial sciences. I have done my bachelors in engineering and want to pursue my carrier in actuarial sciences.
i’ve just finished my A levels and i was wondering if university is necessary for actuarial sciences? do i give the SOA papers privately without university or should i join KU and give the papers side by side?
) What is the scope of Actuarial Sciences in Pakistan?
2) What is the major requirements of Actuarial Sciences?
3) What would be the Expenses of doing Actuarial Sciences in pakistan.
4) How long it’ll going to take??
i’ve finished my a levels n waiting for da result
im really interested in doin acturial science
can anyone plz tel me whether i shud join Karachi uni ?
and can i give the papers side by side?
and how much work experience wud be required to be an associate of actury?
Hey!
I’ve answered these questions in some other forum, but I’m doing it again. Before that, I would like to point it out that I, myself, am not a professional. I’m just a 17 year old guy, currently doing his intermediate from New Fazaia Intermediate College. I’m very much interested towards this field of actuary, so I’ve spent the past few weeks, researching on this field a lot. So, I would still request that you guys consult a professional actuary before making any “big” decision! So, here goes.
Let’s start off with the basics. “Actuarial science” are studies that deal with risk management and probability. “Actuaries” are people who are qualified in this field. They are pretty good at Mathematics and work in insurance companies or other fields which require risk management. Their job is to analyze the financial issues, and make policies for policy holders /companies, keeping the possible risks in mind to avoid losses. Actuary is a highly respected field, and was even rated in the top 5 jobs in the US. THEY.EARN.ALOT. that’s all I can say. Even in Pakistan, an actuary can easily get a monthly income of +100,000rs/month! In Pakistan, not many people are aware of this field, but it’s scope is very good. But to get there, you have to work really hard. It is not something that is going to be handed over to you like a piece of candy.
You can start off right after your A-levels(in mathematics)/Intermediate(in Pre-Engineering. Don’t know about Commerce) by joining an insurance company that is offering actuarial job training.(For example, State Life, NJI Life, etc.) They give you a monthly stipend, give you full training regarding this field, provide you with study leaves, study materials, a study mentor to guide you, sometimes afford your examination fee, and even guarantee a position in their company when you complete your training period or pass the first two examinations. After that, your salary keeps increasing as you pass your exams and excel (I’ve mentioned about the exams below, keep reading!)
You don’t need a degree in actuarial science to become an “actuary”, but have to pass a series of examinations conducted by either of the two bodies: Society Of Actuaries (USA) or Institute Of Actuaries (UK). Both of these bodies are respected worldwide. I urge that you google out their respective websites for further information. Their examinations are locally conducted by organizations like the British Council. The examinations are quite tough, and every student has to apply for these examinations on his own, and then prepare for them on self-study basis.(The study mentors from your firm will help you a lot in this case.) You CAN take admission in a university to get a bachelor’s degree in actuarial science or mathematics if you want to, but it is not necessary to do so, because you won’t be recognized as an “actuary” unless and until you have cleared more than half/all the examinations conducted by the international bodies. (However, if you are dreaming of moving abroad in the future, then I advice you that you DO get a degree in Actuarial science/mathematics, because I’ve read that overseas employers give more preference to people who have cleared the exams and ALSO have a bachelor’s/master’s degree, while giving work permits. But if you’re gonna continue living in Pakistan, it’s not necessary. But still, the tuition at universities can help you a lot with the preparation for the examinations. ) There are two local universities that are offering degrees in Actuarial Sciences : University Of Karachi and Institute Of Business and Management. IoBM is quite expensive, whereas KU is cheap. I don’t have much knowledge about universities abroad, so I cannot help you in this case. You can work, study, and give examinations, all at the same time. One thing good about these examinations is that, you can apply and give them whenever you are ready.(These exams are taken twice a year, I guess. Correct me if I’m wrong.) So, you are not bound to give exams every year. But it is better to, because “jitni jaldi jaan chootay, utna acha hai.” But still, you should consider deeply before applying for an exam, because they are quite tough! So study well, question yourself if you are ready or not, and then apply.
There are two stages of becoming a fully qualified actuary. First is “Associateship.” To become an associate, you have to clear about 12(or more or less, depending on the body that you have chosen) examinations.( But that doesn’t mean that you won’t get a decent job until you become an associate, you can get a decent job after clearing your first two examinations, and then continue to give your exams! Your position/salary will increase as you pass your exams) It takes about 4-6 years for an average student to become an associate, or for an above average, excellent student, under 4 years(It really depends on the student). The second stage is “Fellowship.” To become a fellow, you have to give additional 2-3 exams after you have successfully become an associate. Fellows are more qualified and respected than associates. But a more experienced ASSOCIATE can earn a greater amount, than a less experienced FELLOW. So, experience matters a lot in this field.
It is a very unique and challenging field. If you are good at mathematics, and enjoy solving problems and taking risks, then actuary is the field for you! It IS tough, and you have to go through a lot, but at the end of the day, it’s worth it. The HUGE pay, the high respect, and other benefits are something that no one can reject.
I hope I’ve answered most of the questions asked here. I repeat, I’m not a professional, this information is just what I acquired through hours of researching and because of curiosity that was killing me! So, before making any final decision, do consult a professional! Also, correct me if I went wrong with anything. Thank you.
Hi everbody,
I want to tell my short story of my career as an actuarial sciences student. I completed A’level with flying colours which was entirely on merit based scholarship. I was determined to become an actuary so after completion of A’level I did not go for IBA, LUMS, KU, Tabani etc. I started preparing for society of actuaries exam which were pretty tough but I cleared two of them in three attempts and they took me 11 months. All this while I waited for some job, internship or training offer at last I received an offer from Sidat hyder morshed associates. The interviewer was impressed after having a glance at my CV.The interview went well but the pay package was quite dissappointing.Starting salary was 8000 and employee must sign 4 year service bond (that is if the employee wants to quit the company then he must pay 6 times his current salary).I did not asked questions regarding the generalized promotion and salary scheme in case of passing further papers because I was taken aback by this bond blast. The interviewer insisted to me on signining the bond. I refused the offer.
So guys, my perception about a professionl career as an actuary in pakistan has changed from *Mathematics*Respect*Lucrative Perks to *Hardships*Disapointment*Slavery.
In the end, my advise to all of you is just erase what you have heard from career counselors and your elders about this field.The botom line that shold be kept in mind is my interviewer said that there are many brilliant students dying to become actuaries so when supply goes, down in the doldrums goes the price(wage).
Dear Iftikhar,
I’m honestly sad about hearing that. I think you should have gone for State Life’s actuarial training scheme right after your A-levels. But we’re in no position of saying that now because it’s all in the past. Though you can’t judge the whole field because of a single shock, right? Because at the end of the day, it’s all about luck.