[dropcap2]Q[/dropcap2]What kind of skills & educational qualifications do we need to become an actuary? Is actuarial science way too hard to complete?
Manu Vats from Bodhgaya on 19th August 2012[divider]
Hello Manu, Thank you for writing to ACET Guru. To become an Actuary, you must have more than average understanding of mathematical concepts that are taught at higher secondary level. But, it does not mean that people form non-mathematical background can not become Actuary. After clearing the Actuarial Common Entrance Test (ACET), any person with minimum 18 years of age can write actuarial exams and become an Actuary. People who have studied Mathematics, Statistics or Econometrics will be in a better position than others to qualify as an Actuary. However, the profession is open to everyone and not limited to any degree/background. To qualify as an Actuary, a candidate has to pass all examinations in the prescribed subjects. In addition, he has to comply with other criteria such as experience requirement and attendance at a professionalism course prescribed for the purpose. Actuary is a professional qualification like Chartered Accountant, Company Secretary etc. To get the title of Actuary, you have to clear all the required exams conducted by an actuarial institute like Institute of Actuaries of India (IAI), Institute and Faculty of Actuaries (IFA), Society of Actuaries (SOA) etc. There are some universities and colleges who offer graduate and post graduate degree/diploma in actuarial sciences. However, these degree/diploma do not qualify you to become an Actuary. Completing all the actuarial exams and becoming Actuary is not way too hard. These are professional exams and are meant to be cleared by self study. Tutors like ACET Guru can help you to organize your studies and help you understand quickly. But at the end of the day, you will have to devote time to enhance problem solving ability. It requires a determined approach to attempt these exams and to become Actuary. We offer online coaching programs to students who are preparing for Actuarial Common Entrance Test (ACET). To get more details about our coaching program, please click here. If you have any query, please feel free to comment on this page or send us a mail at firstname.lastname@example.org. All the Best!!