About Actuary

[shackle]

hi u all,
I need guidance about "Actuary".what it is?where it is offered?About it's future prospects?
i'll be for anyone's kind remarks about it.
thankyou

aLI

[Ice_Blue]

bhai jaan,
as far as i know, Statistics has a specialized branch known as Acturial Sciences in which we collect stats about losses faced by the masses for a period and try to predict the pattern. This science is used in insurance business( setting the premium and blah blah).

at present there are very few actuaries in pk so there is a supply demand gap, meaning the income of an actuary is very high.

there is a draw-back, if cudn't get into any insurance company, all ur qualification and hard work is wasted ( in case of bad job market in future)

however the choice is urs. i dont know any institute where they teach actuarial sciences( however KU has a department for it but i am not sure of the standard of their degree). My suggention is to Ask the ppl at State Life Insurance for proper guidance.

Other members,if u know more about the actuaries stuff then plz plz do add to my knowledge.

Regards,

Ice Blue

[sumaaan]

We have had lengthy discussion about Actuarial Sciences...

Kindly browse through all topics relating to it by searching the forum
http//www.accountancy.com.pk/forum/search.asp

[derivativetrader]

While Insurance (General & Life) is far the most significant practice area for Actuaries, Actuarial skills are also highly regarded in Finance & Investment, Pensions and Social Policy.

For more information please visit www.actuaries.org.uk or www.beanactuary.org.


Cheers
DT

[derivativetrader]

<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>

there is a draw-back, if cudn't get into any insurance company, all ur qualification and hard work is wasted ( in case of bad job market in future)

<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>


Certainly not true!! Infact there are circa 20k Qualified Actuaries in World and the unemployed percentage would be very very small - even that small that you may ignore it.

Also, you don't qualify (from most of the Institutes/Societies) until unless you don't have atleast 3 years of experience, which can only be gained while working for an Actuarial Employer. So it doesn't make any sense at all that an employer would make you redundant after investing his resources on your development.

DT

[Bilal Sulehri]

But the most dark side of this thing is that you cannot do it in Pakistan !!!!!!!!!!!



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[the_farhan]

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salaam all,
dept. of statistics, university of karachi offers graduation program for actuarial sciences.
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FARHAN

[derivativetrader]

<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>
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salaam all,
dept. of statistics, university of karachi offers graduation program for actuarial sciences.
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FARHAN
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>

But, i dont think so that they have any accreditation with any Institute or Society of Actuaries.

DT

[the_farhan]

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salaam all,
mr. derivativetrader, i dont ve any info abt accredition of university of karachi for actuarial bodies. but i m sure they donot ve it.
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FARHAN

boo me or cheer me, i shall call spade an spade