can anyone tell m bout actuarial sciences

sirhandi · 07-04-2003, 05:29 AM

hi gang,

i wanna know bout acturial sciences....its scope in europe n in pakistan...how is it in comparison to ICAEW or ICAP????

regards,

sirhandi

smraza · 07-20-2003, 04:28 AM

Dear Sirhandi,
There is no comparison of an actury with chartered accountant, since both are different, in pakistan its scope is too much bright, as the acturies are few in pakistan, if i m not wrong 18 to 20, no one is getting less than 100,000 - 125,000

S M R

sumaaan · 07-20-2003, 07:55 PM

Actuarial Sciences has been rated in the top five jobs in USA in the previous 5 years i guess... Till last year there were only 17 actuaries in Pakistan...

To be an actuary, you can opt for the UK stream, or the USA stream... The syllabus of both the streams are more or less same, slightly different, but dividing into modules in a different way... The UK stream has short modules totalling 15... whereas the USA stream has 9 long modules...

It usually takes abt 6-8 years to become an actuary... An actuary also has to get on-job training during the course of the study just like the C.A/ACCA articles...

And about the salary they get... The earn a lot more than CA's (with the exception of those who have firms)... Their salaries during the course of their training shoots up to Rs.35,000/month here in Pakistan in no time...

State life offers actuarial sciences' training... Students have to take their own pvt. tuitions for studies...

Also, its not necessary that you complete the whole actuary, you can also only complete 3/4th of it, and get a proper job easily...

There are courses like BSc.in Actuarial Sciences too... But I'm unaware of the scope and course structure of such a degree... Karachi university has recently started BSc. in Actuarial Sciences, I'm sure they can be of assistance... In UK, LSE (London School of Economics)offers BSc. in Actuarial Sciences (3 year course).

I hope that'll help you.

Pervez · 07-22-2003, 10:40 AM

Hi Sumaan!
Your knowledge is so vast and accurate, i am very impressed. Hey, don't mind me asking were u one of the position holder in B.Com exams last year? One more question, where did u learn that there are 17 actuaries in Pakistan. I mean where these info are available?
Keep up the good work. I can see a star in the making.
Thnks

Edited by - Pervez on Jul 22 2003 054121 AM

sumaaan · 07-22-2003, 09:19 PM

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
Hi Sumaan!
Your knowledge is so vast and accurate, i am very impressed. Hey, don't mind me asking were u one of the position holder in B.Com exams last year? One more question, where did u learn that there are 17 actuaries in Pakistan. I mean where these info are available?
Keep up the good work. I can see a star in the making.
Thnks

Edited by - Pervez on Jul 22 2003 054121 AM
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>
Thankyou... No I wasn't a B.Com position holder coz I never studied B.Com... Regarding the 17 actuaries thing, my friend's cousin himself was only the 17th actuary present in Pakistan till the previous year, and this is how I know... Although there are other qualified actuaries who are Pakistanis but they're residing in other countries like USA, UK.. coz they're getting much more heavily paid... But till last year, there were only 17 fully qualified actuaries in Pakistan.

waqas · 07-23-2003, 03:45 AM

what is the minimum requirment for this program..?

waqas khalique

sumaaan · 07-23-2003, 05:24 AM

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
what is the minimum requirment for this program..?

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

Intermediate/A levels.

waqas · 07-25-2003, 03:52 AM

information available at
http//www.actuaries.org.uk/files/pdf/students/sthbk02.pdf

waqas khalique

Omair_Ismail · 08-02-2003, 01:00 AM

I am new to this forum so let me introduce myself to you guys. I am Umair Ismail doing my Intermediate.I wanna more info about Actuary.
Sumaaan Sir if you dont mind can you give any furthur detail that how your cousin friends have completed his actuary.I mean to say from which firm. I heard that in Pakistan only 4 firms are offering actuarial Science. and what are the hurdlance in this field.If you dont sir you give me your cousins friend Yahoo or Msn ID so i can speak to him

I am waiting for your positive response
mailto [email protected]
or [email protected]

sumaaan · 08-02-2003, 05:52 AM

Mr Umair, I have emailed you an actuarial student handbook at your yahoo address. I hope that will answer all your questions. (The size of the attachment is 710KB and is in pdf format)

If you need the 'exact' information about companies/firms offering Actuary, try to visit the main StateLife building. The have a proper Actuarial department where a lot of professionals will help you out. There's a young guy there by the name of Mr.Fawad (if I exactly remember) who will guide you best.

However, they DO NOT teach you the syllabus, they only offer training to actuary students. Students have to make their own arrangements for studies.

Maverick · 08-02-2003, 08:19 PM

Dear Sumaan!!!!!

Salam,
Very happy to see ppl like u helping Students. It's indeed something to be appreciated.

I am thinking about getting admission in ICMAP. Tell me about the hidden facts of ICMAP. I have met one or 2 fellows of that institute, and what i gathered from there info is this that it is quite difficult. What is its scope here in Pakistan and foriegn. It takes about 3 years as far as the course time is concerned, but can it be completed in this time ? if not, y. I hope u will make everything clear to me.

Secondly, would u kindly care to send the actuarial student handbook to me too, the same u sent to Waqas. Waiting for ur response. Thnx for the time!!!!!!!!!!

My hotmail id is [email protected]
Yahoo id [email protected]

sumaaan · 08-02-2003, 10:41 PM

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
Dear Sumaan!!!!!

Salam,
Very happy to see ppl like u helping Students. It's indeed something to be appreciated.

I am thinking about getting admission in ICMAP. Tell me about the hidden facts of ICMAP. I have met one or 2 fellows of that institute, and what i gathered from there info is this that it is quite difficult. What is its scope here in Pakistan and foriegn. It takes about 3 years as far as the course time is concerned, but can it be completed in this time ? if not, y. I hope u will make everything clear to me.

Secondly, would u kindly care to send the actuarial student handbook to me too, the same u sent to Waqas. Waiting for ur response. Thnx for the time!!!!!!!!!!

My hotmail id is [email protected]
Yahoo id [email protected]

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

Thankyou,

It would have been better if you would have told me about your qualifications or educational status. Over the past years, and even today, the fear of CA/ICMA/CIMA studies still prevails over the students. If you are 'really' determined to excel, I think all the abstacles can be overcomed. 'Hold on to your dreams and they'll hold on to you.. Take every step in life as a chance to learn something new'. Don't hold back only coz its difficult, the ones who did it started from scratch as well.

The course takes approximately 3 years, might take more depending on the student. After you complete ICMA, you become a CMA. I was going through an article on this very website by Mr.Malik Pervez who himself is a CA, ACCA, CIMA, CIA qualified. He stated that in Pakistan there are less CMA's than CA's mainly becoz of the lack of awareness amongst young students. Mr.Pervez is currently working in A.F.Fergusons in Islamabad as Assistant Manager. The article can be found here http//www.accountancy.com.pk/articles_students.asp?id=87

But the prospects of CMA's is very bright in Pakistan. Although, in UK, CIMA is as expected more recognized as its a local degree.

However, please note, the minimum requirement for ICMA is graduation.

For the syllabus and course outline of ICMA, please visit the following link
http//www.icmap.com.pk/syllabus.htm

The total number of ICMA examinations is twenty three.

The actuarial student handbook will be emailed to you today at your yahoo address. (710KB, pdf file)

I hope that answers all your questions.

ayms · 08-31-2003, 07:19 PM

this is aeman
a friend o mine is havin difficulty preparin for acturial science
her exam is in november. please let me know how can she cope up wid her studies to pass the exam?
hopin to get a response

S.Lakhani · 10-02-2003, 12:07 AM

hi !

i am a new member and my name is Sana Lakhani.<img src=icon_smile_shy.gif border=0 align=middle> i am doing my indermediate from DHA College for women. i am interested in studying actuarial sciences, so cud u pls send the actuarial students handbook to me too?

i hope u reply soon

my email address is [email protected]

thanx alot

federal123 · 10-02-2003, 12:47 PM

I am new to this forum...Mr.Sumaan, can u kindly send the actuarial student handbook to me too, the same u sent to Waqas. Waiting for ur response. Thanx alot..
my yahoo id is [email protected]