ACTURIAL COMMON ENTRANCE TEST :Institute of Actuaries of India conducts ACET Test on the Month of April .
What is Actuary?
A Person with expertise in the fields of Economics, Statistics and Mathematics, who helps in risk assessment and estimation of premiums etc. for an Insurance business, is called an actuary.
Description: Insurance business requires advanced statistical and analytical skills for evaluation of risks and returns associated with each proposal.
Insurance companies employ these experts from the field of Economics, Statistics, mathematics, risk assessment and management.
Actuaries play a crucial role in the operation and profitability of any insurance business.
They help the firm with their expertise in calculation of premiums of various insurance policies, rating methods and reserves etc.
Eligibility: Passed higher secondary with Mathematics
Loves logic & problem solving
Excellent business awareness
What does Actuary do :Actuaries are experts in assessing the financial impact of tomorrows uncertain events. They enable financial decisions to be made with more confidence by:
· Analyzing the past
· Modelling the future
· Assessing the risks involved, and
· Communicating what the results mean in financial terms.
Exam Details: Institute of Actuaries of India conducts ACET exam.
Registration Start: January 4, 2017 (As on Date)
Registration Close: February 28, 2017(As on Date)
Examination Date: April 1, 2017(As on Date)
Date of Result : April 22,2017
How to Apply: Register online for ACET at www.actuariesindia.org
Contact No: 022-67843333/3304
- Life Insurance
- General Insurance
- Health Insurance
- Reinsurance Companies
- Pension Funds
- Risk Management
Actuarial exams by IAI :
The 15 actuarial exams conducted by IAI include written exams and practical exams divided in stages:
Stage 1:Core Technical
You have to pass all these 9 exams
CT1- FINANCIAL MATHEMATICS
CT2-FINANCE & FINANCIAL REPORTING
CT3-PROBABILITY & MATHEMATICAL STATISTICS
CT5-GENERAL INSURANCE, LIFE AND HEALTH CONTINGENCIES
CT9-BUSINESS AWARENESS ONLINE MODULE (PRACTICAL EXAM)
Stage 2:Core Application, You have to pass all these 3 exams.
CA1-ACTUARIAL RISK MANAGEMENT
CA2-MODEL DOCUMENTATION ANALYSIS & REPORTING (PRACTICAL EXAM)
CA3-COMMUNICATION (PRACTICAL EXAM)
STAGE 3:Specialist Technical (ST)
At this stage you can specialize and choose any 2 subjects out of the 8 offered
ST1 HEALTH & CARE
ST2 LIFE INSURANCE
ST3 PENSION AND OTHER EMPLOYEE BENEFITS
ST4 FINANCE & INVESTMENT A
ST5 FINANCE & INVESTMENT B
ST6 GENERAL INSURANCE, RESERVING & CAPITAL MODELING SPECIALIST TECHNICAL
ST7 GENERAL INSURANCE PRICING, SPECIALIST TECHNICAL
ST8 ENTERPRISE RISK MANAGEMENT
STAGE 4:Specialist Application (SA)
You can choose any 1 subject
SA1 HEALTH & CARE
SA2 LIFE INSURANCE
SA3 GENERAL INSURANCE
SA4 PENSION & OTHER EMPLOYEE BENEFITS
TOP COLLEGES /INSTITUTES for ACTUARIAL SCIENCE :
Apart from clearing the 15 Actuarial exams of the Institute of Actuaries of India,it is advisable to join a regular Bachelor course in the relevant field.
- Bishop Heber College,Tiruchirapalli
- Amity School of Actuarial Science,Noida
- D.S.Actuarial Education Services,Mumbai
Note : Bachelor of Maths/Statistics Honours Students can also find similarities in course content.