actuarial sciences - Printable Version

actuarial sciences - Printable Version

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+--- Thread: actuarial sciences (/showthread.php?tid=195)

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- sumaaan - 06-12-2004

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
Hello Everyone,
I AM A STUDENT OF FSC PRE ENGINEERING.WELL FINISHED IT AT LAST THOUGH.LIKE MANY OTHER GUYZ N GALS I AM ALSO INTERESTED IN DOING ACTUARIAL SCIENCES.WELL I CAME TO KNOW ABOUT THIS FROM A FRIEND OF MINE.I DONT KNOW ABOUT OTHERS BUT I AM INTERESTED IN THIS FIELD DUE TO ITS HUGE JOB OPPURTUNITIES AND THE "SALARY".ALSO I CAME TO KNOW THAT STATE LIFE HIRES PEOPLE TO DO ACTUARY AND OFFERS A JOB SIMLUTANEOUSLY.AFTER STUDY THEY JOIN WITH STATE LIFE.BUT THE PROBLEM IS THAT THERE IS NO STATE LIFE BATCH GOING IN NEAR FUTURE AS IT WENT LAST YEAR.I ALSO KNONW THAT OTHER INSTITIONS ALSO FACILITATE IN STUDYING ACTUARY.BUT I DONT KNOW ABOUT THEM.
SO KINDLY SUGGEST ME A COURSE OF ACTION.WHAT SHOULD I DO.I MEAN WHERE CAN I APPLY FOR DOING ACTUARY.I AM WILLING TO DO THE HARD WORK.BUT I HAVE TO FIND THE PROPER MEANS.KINDLY HELP.AND ALSO IF ANY ONE HAS ANY QUESTION KINDLY POST ON THIS FORUM AND I WILL REPLY INSHALLAH.
THANKING IN ADVANCE
FARRUKH
BLUE MIST

<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

Welcome to the forum. Kindly post your question only once.

Its a once in a life time sort of opportunity to get into Statelife... They usually take in trainees very very seldom... And yes, if you're planning to stay in Pakistan, Statelife should be your first choice... If you're planning to get into Statelife, I guess you'll have to wait another 3-4 years...

For your other questions, kindly visit the links below
For more information about Actuarial Sciences, please visit the following links

http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=737
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=164
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=767
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=762
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=586

Wish you best of luck.

- syedhassan - 02-14-2005

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by sumaaan
 <blockquote id="quote">quote<hr height="1" noshade id="quote">
Hello Everyone,
I AM A STUDENT OF FSC PRE ENGINEERING.WELL FINISHED IT AT LAST THOUGH.LIKE MANY OTHER GUYZ N GALS I AM ALSO INTERESTED IN DOING ACTUARIAL SCIENCES.WELL I CAME TO KNOW ABOUT THIS FROM A FRIEND OF MINE.I DONT KNOW ABOUT OTHERS BUT I AM INTERESTED IN THIS FIELD DUE TO ITS HUGE JOB OPPURTUNITIES AND THE "SALARY".ALSO I CAME TO KNOW THAT STATE LIFE HIRES PEOPLE TO DO ACTUARY AND OFFERS A JOB SIMLUTANEOUSLY.AFTER STUDY THEY JOIN WITH STATE LIFE.BUT THE PROBLEM IS THAT THERE IS NO STATE LIFE BATCH GOING IN NEAR FUTURE AS IT WENT LAST YEAR.I ALSO KNONW THAT OTHER INSTITIONS ALSO FACILITATE IN STUDYING ACTUARY.BUT I DONT KNOW ABOUT THEM.
SO KINDLY SUGGEST ME A COURSE OF ACTION.WHAT SHOULD I DO.I MEAN WHERE CAN I APPLY FOR DOING ACTUARY.I AM WILLING TO DO THE HARD WORK.BUT I HAVE TO FIND THE PROPER MEANS.KINDLY HELP.AND ALSO IF ANY ONE HAS ANY QUESTION KINDLY POST ON THIS FORUM AND I WILL REPLY INSHALLAH.
THANKING IN ADVANCE
FARRUKH
BLUE MIST

<hr height="1" noshade id="quote"></blockquote id="quote">

Welcome to the forum. Kindly post your question only once.

Its a once in a life time sort of opportunity to get into Statelife... They usually take in trainees very very seldom... And yes, if you're planning to stay in Pakistan, Statelife should be your first choice... If you're planning to get into Statelife, I guess you'll have to wait another 3-4 years...

For your other questions, kindly visit the links below
For more information about Actuarial Sciences, please visit the following links

http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=737
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=164
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=767
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=762
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=586

Wish you best of luck.

<hr height="1" noshade id="quote"></blockquote id="quote">
HELLO THERE...
THIS IS TRUELY AN INTERESTING FIELD BUT IT DEPENDS ON THE LOCAL MARKET...
LIKE, IN PAKISTAN... HOW MANY INSURANCE COMPANIES AND CONSULTANCY AGENCYS DO YOU SEE...
DOES THE MARKET SEEM GROWING IN NEAR FUTURE..
I THINK IT WOULD HERE, BUT IT WOULD TAKE TIME..
as the growing no. of businesses, are directly proportional to the RISKS they are exposed to..

IN US.. ITS A MUCH GROWING FIELD today..
THE RESPONSIBLE POSITION IN AN ORGANIZATION LIKE "INSURANCE BUSINESS" CAN BE...A.."RISK ASSESSMENT ANALYST..."
AFTER 4-6 SUCCESSFUL YEARS OF PRACTISE, YOU MOVE FURTHER TO..
a "SENIOR R..k ASS...t ANALYST"
they actually assess risk for...
1-companys
2-individuals (CEO's etc)
a situation can be...
(when they come of some age and wish to acquire some other business and.... need to insure and assure their health, life and mental soundness etc... for the future ahead to the co. acquiring business.)
its a growing business in America..
and also salary wise...
but it all depends on YOUR PASSION and YOUR SKILLS and COMMITMENT..
regards...
syedhassan...

ACCA

- derivativetrader - 02-16-2005

Career in the actuarial profession doesn't start until you qualify. Once you qualified, you can be as dynamic as you possibly want. I know many people who started out in the traditional pension, insurance, health care, areas but now works in several non-traditional roles - ofcourse making, in some cases, upto 100% rise in their past salaries.

DT

- bestofjunaid - 02-16-2005

hi i am junaid i want to do acturial science but i am doing inter in COMMERCE i have done matric in science can got 94 in maths can i do acturial science if yes then from where i can do
PLEASE HELP

- derivativetrader - 02-16-2005

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by bestofjunaid
 hi i am junaid i want to do acturial science but i am doing inter in COMMERCE i have done matric in science can got 94 in maths can i do acturial science if yes then from where i can do
PLEASE HELP
<hr height="1" noshade id="quote"></blockquote id="quote">

Junaid - welcome to the forum.

Alot has been said already in the past on your questions. As usual, please refer to the earlier discussions and do come back to us with 'specific' questions that haven;t been answered.

Good Luck

DT

- nauman612 - 03-30-2005

Can one do Msc. Actuarial after BE???????

- derivativetrader - 03-31-2005

To get the best idea for eligibility you need to check individual university's prospectus. If I were your employer and I get to see a resume who had done BE followed by a MSC. Actuarial Science, I would have second thoughts on why should I hire this person over somebody you did Maths or Stats or Act. Sc. BSc. Of course, this person hasn't got enough idea of his future.

So, its better to play safe. If you are inclined towards Actuarial Profession then persue something alot relevant to the profession. If you can't do BS in Actuarial Science, try doing Maths, Stats or might be Econmomics. Although, I would prefer Maths or Stats.

Also, MS Actuarial Science is equivalent to BS Actuarial Science (in terms of syllabus and number of exemptions you could get). So, even you would say you have done masters, people in Actuarial community would regard it as a BS.

The only exception is when you do something called Actuarial Management or something on those lines (not many universities offer them that I must warn you). These degrees allows you to get later exemptions but the requirement for them is a BS Actuarial Science or MS Actuarial Science.

Personally, I wouldn't recommend MS Actuarial Management either. because not many employers would happy yo take you on. I know you would think the other way around. But the matter of fact is later Actuarial Exams are more related to day to day real life problems and just having exemptions you wouldn't have developed enough working knowledge to pass them.

Also, most bodies have minimum work experience requirements so even if you have cleared all exams you will still not qualify as an actuary and your salary wouldn't have any impact as well.

I hope I haven't confused you much here!!

DT

- nauman612 - 03-31-2005

well thanx for conivcing me abt not doing BE before actuarial sc. How it is if I do ACCA den act.sc.

- derivativetrader - 03-31-2005

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by nauman612
 well thanx for conivcing me abt not doing BE before actuarial sc. How it is if I do ACCA den act.sc.
<hr height="1" noshade id="quote"></blockquote id="quote">

I'm sorry to ask but do you actually know what actuarial studies is all about?

I have feelings that you don't know about it much because otherwise you would know the answer to your questions.

ACCA is an accountancy qualification and has nothing to do with Actuarial. ACCA combination is much worse than your BE scenario. Also, ACCA isn't quantitative to the extent what BE is, so you may get alot of problems getting admission into any university.

If you think eventually you want to be in actuarial profession, then do Maths, Stats or Actuarial Science bachelors. In Pakistan, only KU offers a programme of (i think) 4 years in actuarial science but that programme isn't recognised by Institute of Actuaries (UK) or Society of Actuaries (USA) so you wouldn't get any exemptions from these bodies.

I think if you have done that programme you would have atleast gathered some knowledge about the syllabus and may easily pass the first few sets of professional exams as they more or less should corresponds to each other.

If you thinking of going abroad for higher education than in UK you have LSE, City, Kent, Heriot-Watt and Southampton who offers BS in Actuarial Science. I have listed them in their order of prestige and quality of teaching.

On rough estimate, you would all cost around Â£50,000 less any scholarships or grants that you may be able to get. LSE doesn't offer much assistance that I must warn you.

Hope it helps.

DT

- nauman612 - 04-01-2005

but i cant go abroad before donig bachelors ???
den wat can i do

- derivativetrader - 04-02-2005

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by nauman612
 but i cant go abroad before donig bachelors ???
den wat can i do

<hr height="1" noshade id="quote"></blockquote id="quote">

Why can't you do AS from KU or any maths or stats from a reputed university in Pakistan?

I think that's the only option you will have.

DT

- Mubashir - 04-12-2005

Salaam,
I am fresh to this forum, and had learned a lot about actuary from this forum.
As I am inclined on doing the actuary from SOA. I shall be sitting in the examination of fall 2005.
My question is about the text books. I had searched a lot for it and had been successful in getting only 'Fundamental of Probability' for the paper 'P'. Now I am searching for the text book for the paper 'FM'. Do you have any information about it.
The study manual or notes are my second question. I had downloaded only the first chapter from www.bpptraining.com. But the hardcopy is available by purchasing it from them, and that is quite unaffordable for me (ranging from $75-$100). Do any of you guys have information about it.
Do let me know. Thanks.
Mubashir.

- adnan25 - 04-25-2005

unfortunately the books for the soa exams are not available in pakistan, if u have a contact in state life u can get it photocopied from there, or try to find someone in akhtar hasan or sidat haider

- insaan - 04-30-2005

mubashir if u wanna do exam P i can help u a bit in this regard
do contact me if u want so

- MAyub - 05-06-2005

I too is interested in Actuarial science. I am hoping to get a Bachelors degree in Actuarial sciences , that lead to an exemption, just after my A'Level. Would anybody here tell me, tthe degree that KU offers, is what i require? Thanking you.