How do you enter into the field of actuarial science?
554287
i believe a degree in mathematics with a good GPA will get you a job as an actuarial trainee at an insurance company--then you can study different course work, given by the actuarial science governing body, or certifying group for the actuarial sciences-- after much study and examinations you can become an Actuary- which, by the way, is one of the rarest occupations in the country--since you have to be very smart to study and pass the rigid examinations- i am a retired ins broker for life and health and one of my medical underwriters was married to an actuary--i also had 2 actuaries in my small church group- which is remarkable- since it is such a small occupational group-- check with a few large Casualty Ins cos and see if they can provide you with more information on job opportunities--good luck to you ....
1081553
Susanne * stole my fire on this one.  Being an actuary is almost all math, and the work is challenging and useful.  Actuaries study and analyze data to come up with rates for insurance companies (health, life, auto, etc.), pension plans, business strategies, and so on.\n\nA starting actuary (with an exam or two under his or her belt) can make $30-40k per year.  A friend of mine got a job straight out of college after passing his first three exams and started at $45k.  Pass all ten SoA (Society of Actuary) exams and you could make $100-200k, annually.
730705
What I would suggest is resitting a couple of your GCSES - maths being the key one. If you go to your local FE college they should be able to advise you on how to go about that and if you have a career idea they can probably advise you on what qualifications you need. \n\nHope that answers your question - I know its not exactly an organisation but they normally have careers services within the college.
378412
Neat little problems of addition, subtraction, multiplication and division took on new dimensions when we began to use these tools for solving problems described in narrative terms. It was quite a shock for some of us to change from a simple A "2+2=4" type of problem to, "How many pieces of fruit do John and Mary have if John has two apples and Jane has two pears?"\n\nWe face a similar, albeit more mentally demanding, dilemma when we familiarize ourselves with the professional standards of practice, conduct, and qualifications. Just how do these fit into real life situations? There is no simple answer. Each situation is unique and there are bound to be differences of opinion on how each situation relates to the neat set of articulated standards. In the end, it is the actuarial profession itself that determines how these standards are to be interpreted in real life situations. As part of this process, the CAS COPE and the ABCD solicit your comments on the applications of professional standards of conduct, actuarial standards of practice, and actuarial qualification standards in specific simulated fact situations. All comments received will be condensed and summarized in future articles on an anonymous basis.\n\nConsider the following scenario:\n\nPerfection Mutual Casualty Insurance Company (PMC) is an established, medium-sized midwestern carrier operating in 15 states. Historically, its primary lines have been personal auto and homeowners. It expanded its market in 1993 to write commercial lines coverage, including workers compensation, on small businesses.\n\nPMC had retained Pat Firmly, FCAS, MAAA to review its reserves since 1985. Firmly has generally found PMC's reserves to be adequate and has issued unqualified statements of actuarial opinion to that effect since such opinions were required.\n\nIn November 1995, while conducting a preliminary review of experience to be used for determining reserves for the 1995 annual statement, Firmly noted that the experience for commercial lines had deteriorated sharply and PMC would probably have to show a reduction in surplus at year end. PMC management argued that Firmly's analysis relied too heavily on industry development factors for long-tail lines and was otherwise unrealistic as far as its projections of IBNR reserves. Firmly also informed management that one of its off-shore reinsurers had recently defaulted on claims payments to another one of his clients and its ability to pay amounts due PMC were in doubt.\n\nShortly thereafter, PMC terminated its contract with Firmly. In February 1996 PMC retained Harry Hyde, FCAS, MAAA to issue an actuarial statement of opinion on its 1995 reserves. After accepting the assignment, Hyde asked Firmly to furnish his workpapers from prior years. Firmly refused and accused Hyde of stealing one of his best accounts by promising a favorable opinion. Hyde then reviewed the combined lines experience furnished by PMC and issued an unqualified actuarial opinion to the effect that PMC's reserves were within an acceptable range. These reserves produced a nominal increase in PMC's surplus.\n\nWhat standards of conduct, practice, and/or qualifications are involved in this scenario? Did Firmly comply with these standards? Did Hyde comply? What did each do right, if anything? What did each do wrong, if anything? What would you have done if you were Firmly or if you were Hyde? If you were either of those actuaries, would you file a complaint with the ABCD? If so, what would you ask the ABCD to do?
321614
I come from the University of Waterloo, the only school in North America (I believe) with a FACULTY of mathematics.  We're ranked with MIT and the like for goodness when it comes to math and computers.\n\nAnyways I see mathematicians go off every which way to jobs.  Some stay at the institution and do work on theorems, etc.  Some work for computer companies, deveoping algorithms, etc.  Some go into a highly mathematical branch of physics or chemistry and work on stuff there.\n\nIf you've taken some stats courses, maybe you'd consider being an actuarial scientist.  These are the people who work with stats ALL the time, for insurance companies, banks, etc.  They make SOOOOO much money (6 figures to start!)\n\nGive it all some thought...and never give up :)
135536
Try to get into the field of health. Check with local hospitals for volunteer work, Red cross, talk to people who are professional on the field you are interested and see if they are accepting volunteers or entry level possitons, while you take an education on that field.
595114
If you have strong statistics, and modeling skills, #1 (basic math, meaning calculus, stats and matrix alg.) will be a breeze, #2 (interest and economics) will be more difficult.  Let's say those two take a year.  #3 (actuarial math) is brutal - the history of this exam is that it has less than a 1/3 pass rate, even for those who take the exam multiple times.  I would allow a year or two for that one.  I recall #4 is more modeling and stats, probably more toward what you already know from school.  One year, less if you're good or lucky.\n\nFrom there, I would say one exam per year.  Total time to Associateship?  Five Years.  A quick study could do it in three or four, but that's without having a life, or, in some cases, a job.  Seven Years is slow, but reasonable.\n\nAdd another 2-3 years for Fellowship.
158415
Actuarial sciences.  Courses on statistics, population sampling, morbidity, longevity.  Every state keeps sites with data that insurers and others can analyze, start with 'vital statistics.' \n\nInsurers also need these people to anaylyze the insurer's own data.\n\nLots of math skills, risk analysis.\n\nEmail Prudential and see if they can pin this down better for you.\n\nPrudential:  Attn -- Actuary\n\nAlso useful in Fire, Crime and Police overview, changing patterns. Voter demographics.
334669
you can enter the field of meteorology you can start as a meteorologist ,chief meteorologist, then end up in the directorate of meteorological instituitions
921529
there is a westpac competition i believe if you do very well, you get a prize of some kind, i got told it was money...there is also the australasian mathematics competition, i dont think you get money for it though, you get a medal for it...\nif you join these competitons, i think you might have to ask your school about it though...
510619
Lots of different ways . . .\n\no  As already suggested, get a job in sales at a brokerage firm and get your Series 7\n\no  Check out financial advisory firms if giving personal advice is more your preference than sales\n\no  Check out bank trust departments -- lots of potential jobs from sales to advisory to portfolio management (fixed income as well as equities).  A good place to get some hands on investment experience.\n\no  Financial subs of major companies.  Jobs might involve raising funds via sale of short-term debt, cash management, equity and debt financing, etc.\n\no  Check out major financial firms (primarily in NYC) that are involved in merger and acquisition activities (e.g., Morgan Stanley).  If you're really, really good and willing to commit your life to your job, you can make a lot of bucks in this area.\n\nThese are just a few of the alternatives.  Also, keep in mind that you should be willing to take most any job to get your foot in the door.  If you have the educational background, are really smart, have a lot of initiative, and show an affinity for the investment business, you can advance very rapidly.  True invest pros have no (I repeat NO) tolerance for incompetence or lack of drive, but will overwhelm you with opportunity to be successful if you "show the right stuff."  The investment field is not a good choice for the average person or the timid.\n\nBy the way, your engineering degree implies strong quantitative abilities.  This gives you a leg up on your competition and is something of substantial value in the investment arena.
133938
Knowledge of mathematics, calculus, statistics, and probability.\nKnowledge of standard casualty actuarial policies and methodologies.\nKnowledge of basic Workers Compensation actuarial practices, reserving and rate structures.\nKnowledge of the Federal tax law and West Virginia State code pertaining to area of assignment.\nSkill in abstract reasoning, logic and analysis with particular strength in mathematical talents and training.\nSkill in problem recognition and problem solving.\nAbility to perform detailed analysis of numerical and statistical data.\nAbility to prepare complex statistical reports.\nAbility to perform advanced algebra and multi-variable equations.\nAbility to comprehend and apply abstract concepts and reasoning to commonplace events.\nAbility to communicate effectively, both orally and in writing.\nAbility to maintain effective working relationships with other employees, employers and government officials.
682707
Yes.. actuaries do spend alot of time studying for tests and most companies let you study at work. But usually the companies that let you do this require you to stay for a given amount of time after you pass tests.
372032
You want the CFP program not the CFA.\n\nTo become a CFP, you need three things.  A certificate that you complete a PFP program, related work experience and passing the CFP exam.  \n\nYou need the certificate of PFP program to sit in the exam, but there's no requirement prior to getting related work experience.\n \nI completed my education requirement through UC Santa Cruz Extension, I believe I learn a lot from the program because the instructors are all very experienced and established CFPs.  You can also try an "accelerated" program with providers like Kaplan or on-line program.  \n \nThe CFP exam is quite difficult.  It took me about six months (of weekends) to study for the exam.  But I heard there are some people who passed the exam with just a couple months of study.  \n \nHere's a list of websites that might be helpful.\n \nhttp://unex.uci.edu/certificates/business_mgmt/finance/pfp/\nhttp://cfp.net/\nhttp://www.fpanet.org/\nhttp://www.eduselect.com/e/kaplan/financial/signup.cgi?AffiliateID=311567&mid=
20459
Accounting deals strictly with what has been done. Doing people's taxes for instance. You may give people some hints as to what they should do in the future but it is on the level of data x means y.\n\nActuarial science on the other hand deals with predictions. You have to look at trends and advise companies as to what they should do to make sure that they are dealing financially ethically with their customers but also not going to go under. \n\nFor example let's say that you would be working for a home insurance place and you notice that most years 1 home burns down. Well then you need to charge enough from your customers to deal with the cost of one of the homes burning down. YOu actually need to charge more than that because there is the chance that 2 homes could burn down and then where would you be? It seems incredibly difficult to me but if you are interested in it you should start by becoming a math major because you will be using a lot of high level statistics and calculus at the very least.
283962
Did you spell it right?\nActuarial science if this is what you meant is someone who calculates insurance risks and premiums, an expert statistician and they make loads of money.
410411
Teaching, research, engineering, accounting (math), actuarial science (math)...and the list goes on...