The new generation is becoming more and more experimental. Till the 80s, everyone wanted to become either a doctor or an engineer( in a girl's case teacher). People wanted to go on the tried and tested path only.
Times have changed and these days we come across lots of unconventional choices being made by the youngsters. One such career option is the field of ACTUARIAL SCIENCE.
Actuarial science has emerged out to be one of the best careers in countries like US, UK, Australia etc. The picture in India is not as rosy but a lot has changed over the last 2 decades. The opening of insurance sectors, BPOs etc in India has made actuarial science a good career to pursue in India.
To become an actuary one has to clear 15 actuarial exams from the Institute of Actuaries of India ,gain some relevant work experience in this field and also attend some courses prescribed for this purpose. To join IAI as a student member, one has to fulfill the following conditions :
1) Should have completed 18 years of age.
2) Should have attained one of the following educational standards:
A) Passed H.S.C (10+2) or equivalent with atleast 85% in Mathematics/ Statistics.
B) Graduate or Post graduate with mathematical subjects like:
i) Mathematics or any of its branches
ii) Statistics or any of its applications like Mathematical Statistics and Applied Statistics
D) Fully qualified members of the following Professional/ Educational bodies:
i) Institute of Chartered Accountant Of India (ICAI)
ii) Institute Of Cost and Works Accountant Of India (ICWAI)
iii) Insurance Institute of India(III) passing with subjects 81- Mathematical basis of Insurance and 82-Statistics.
E) A student member of the following actuarial bodies:
a) Institute of Actuaries, UK
b) Faculty of Actuaries, UK
c) Institute of Actuaries of Australia
F) A student of the following actuarial bodies provided atleast one actuarial paper has been passed:
a) Society of Actuaries, UK
b) Casualty Actuarial Society, USA
3) The medium of instruction in the final examination based on which admission is sought should be English.
Times have changed and these days we come across lots of unconventional choices being made by the youngsters. One such career option is the field of ACTUARIAL SCIENCE.
Actuarial science has emerged out to be one of the best careers in countries like US, UK, Australia etc. The picture in India is not as rosy but a lot has changed over the last 2 decades. The opening of insurance sectors, BPOs etc in India has made actuarial science a good career to pursue in India.
To become an actuary one has to clear 15 actuarial exams from the Institute of Actuaries of India ,gain some relevant work experience in this field and also attend some courses prescribed for this purpose. To join IAI as a student member, one has to fulfill the following conditions :
1) Should have completed 18 years of age.
2) Should have attained one of the following educational standards:
A) Passed H.S.C (10+2) or equivalent with atleast 85% in Mathematics/ Statistics.
B) Graduate or Post graduate with mathematical subjects like:
i) Mathematics or any of its branches
ii) Statistics or any of its applications like Mathematical Statistics and Applied Statistics
iii) Econometrics
iv) Computer Science
v) Any discipline of Engineering
vi) Science subject like Physics or any of its branches
The admission under the above groups is subject to certain conditions:
a) The aggregate marks of all the years for any degree course coming under the classification of Mathematics subjects taken should not be less than 55%.
b) The content of the Mathematical subjects content in all the years of the course taken together is not less than 50% of the total content.
C) MBA/PGDMA or equivalent in disciplines having mathematical/statistical content.b) The content of the Mathematical subjects content in all the years of the course taken together is not less than 50% of the total content.
D) Fully qualified members of the following Professional/ Educational bodies:
i) Institute of Chartered Accountant Of India (ICAI)
ii) Institute Of Cost and Works Accountant Of India (ICWAI)
iii) Insurance Institute of India(III) passing with subjects 81- Mathematical basis of Insurance and 82-Statistics.
E) A student member of the following actuarial bodies:
a) Institute of Actuaries, UK
b) Faculty of Actuaries, UK
c) Institute of Actuaries of Australia
F) A student of the following actuarial bodies provided atleast one actuarial paper has been passed:
a) Society of Actuaries, UK
b) Casualty Actuarial Society, USA
3) The medium of instruction in the final examination based on which admission is sought should be English.
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