hai friends,
you know that actuary is a world recgonised course. there are only 250 members in actuary. all the insurance company needed actuary. so, my simple advice all ca student take actuary course for the bright future.
27 Replies
CA Uday Bhan
(Manager Internal Audit)
(49 Points)
Replied 05 March 2010
Dear,
It is easy to say but you know it is because of passing percentage much lower.
AAYUSH AGRAWAL
(article )
(61 Points)
Replied 05 March 2010
any classes are available for this course????
eswaralal
(student)
(201 Points)
Replied 05 March 2010
hai udai,
i know pass percentage of actuary is very low. but job vacancies is high not only job but also the salary is also high. its an interesting subject like ca.
eswaralal
(student)
(201 Points)
Replied 05 March 2010
hai aaush,
actuary is a self study course like ca, icwa and acs. there are 15 papers (four groups) CT, CA, ST AND SA.
CT-NINE PAPERS, CA- THREE PAPERS, ST- TWO PAPERS OUT OF SIX(YOU HAVE TO SELECT ANY TWO PAPERS) AND SA- ONE PAPERS OUT OF SIX(YOU HAVE TO SELECT ANY ONE PAPERS). YOU HAVE TO WRITE THREE PAPERS AT ONE SITTING. THE EXAM ARE HELD IN TWO TIMES A YEAR MAY/JUNE AND OCT/NOV. FOR MORE INFORMATION PLEASE BELOW THE LINK.
Team UGS
(Article Assistant)
(88 Points)
Replied 05 March 2010
hey eswaralal...are you pursuing actuary?
Team UGS
(Article Assistant)
(88 Points)
Replied 05 March 2010
how many papers u have cleared.....and wats scenario in ca...means....cleared dpt/pcc/final?
eswaralal
(student)
(201 Points)
Replied 05 March 2010
SORRY DEAR,
I AM APPEARING THREE PAPERS(CT1, CT2 AND CT2) ON NOV 2010. I AM ALSO DOING MY CA AND APPEARING CPT EXAM ON JUNE 2010. ARE YOU IN MATHS STUDENT IN 12TH WITH 85% IN MATHS YOU ARE ELIGIBLE TO APPLY THIS COURSE OR ANYONE THE MEMBER OF CA OR ICWA OR CS CAN ALSO ENTROL THIS COURSE. SO, YOU ARE THE COMMERCE GRADUATE MEANS YOU FIRST CLEAR CA AND THEN YOU APPLY ACTUARY COURSE. REMEMBER MY FRIEND ITS A HIGHLY RECOMMENDABLE COURSE IN INDIA AND ABROAD.
Team UGS
(Article Assistant)
(88 Points)
Replied 05 March 2010
my friend...i have already cleared CT 7 , appearing for 2 more papers in May
I am a CA Final student
Pooja Gupta
(CA Final)
(216 Points)
Replied 05 March 2010
wat are the benefits of ds course along wd CA ??
eswaralal
(student)
(201 Points)
Replied 05 March 2010
hai pooja gupta,
"PLEASE READ CAREFULLY THE WHOLE MESSAGE"
A fresh PG student gets between Rs 2.5 lakh and Rs 5 lakh annually.
Last month, when 21-year-old Abhishek Kumar graduated as a civil engineer from the Indian Institute of Technology, Delhi [ Images ], he wasn't enamoured by any of the recruiters that had dropped in on the campus.
With a fascination for maths, his focus was to become an actuary. So he applied to insurance companies and consulting outfits.
Today, Kumar is thrilled to be one of the 12 employees at insurance major HDFC [ Get Quote ] Standard Life in Mumbai [ Images ], training to be an actuary. He is hoping to become a full-fledged actuary by the time he is 25.
Three years ago when multinational reinsurers Swiss Re set up its service office in India, it imported a practicing actuary.
After spending years in Japan [ Images ], today 31-year-old Walter de Oude is its only actuary for India. But Oude, who recently hired a host of students who are training to be actuaries, says he is scouting for more.
He isn't the only one. Almost all the insurance players, including the quasi-government Life Corporation of India, consulting firms and even banks are wooing actuaries assiduously.
They are each hiring about 10 to 15 students who are being groomed for actuarial posts.
So much so, that even before they appear for the first of the 14 papers necessary to become a full fledged actuary, the post-graduate students in maths or statistics are being showered with lucrative offers.
Gone are the days when actuaries were employed only by the LIC [ Get Quote ] at abysmal pay scales of 7,500 a month.
"Like in many sectors, the entry of private insurance players has changed the dynamics of the game," says K S Gopalakrishnan, appointed actuary at Birla Sun Life.
Today, a fresh post-graduate student attracts between Rs 2.5 lakh to Rs 5 lakh annually. A full fledged actuary with five to 10 years of experiences carries an annual cheque of Rs 20 lakh.
While an appointed actuary gets Rs 30 lakh. That's because, with the insurance sector booming, actuaries are hot property now.
Their skills relating to forecasting events which are probable and assessing financial implications have become dear. They design insurance products, formulate premium tables and even dole out investment advice.
"They are the financial technicians who make sense of the future," says Oude.
Banks too are jumping on the bandwagon. "We are using actuaries for the investment and asset management businesses," says the appointed actuary in a foreign bank. Indian banks are still waiting in the wings.
R Kannan, appointed actuary at SBI [ Get Quote ] Life Insurance Company, is actually on deputation from the Reserve Bank of India.
"Once the Basel II norms come into effect, RBI is likely to issue guidelines on how the banks can utilise actuaries," he says. The central bank has used actuaries for valuation purposes in the case of mergers and acquisition and valuation of financial instruments.
No wonder then, the number of students enrolling at the Actuarial Society of India is galloping. From barely 471 students enrolled at the ASI in 2000, there are almost 3,486 students.
"This doesn't improve the situation much," says the head of an insurance company, who also visits the Indian Statistical Institute in Kolkata [ Images ] to hire students.
While there are 3,000 actuaries in the UK, the US has around 10,000. In India, the current demand for actuaries is 5,000, say the players. But the number of actuaries who are members of ASI are only 203, up from 143 in 2000.
"These also include the foreign actuaries operating in India," explains LIC's Agarwal. While many are employed with insurance companies, others are with insurance consulting firms like Watson Wyatt.
What's more, according to G N Agarwal, chief actuary at LIC, the average age of a practicing actuary in India is around 60 compared to 65 years five years ago.
That's why, almost all the players are funding the actuarial studies of their employees.
Almost a decade ago, Padmaja R had a choice for post-graduation a masters in computer application, business economics or actuarial science.
"When my father said that by taking up the last I could be one of the rare species in India, it was a challenge," she says and joined LIC. Today, at 35, Padmaja has since moved from Global Trust Bank to a leading insurance major.
Earning a fat packet, she says, "By joining the private sector, my learning curve became shorter. I have packed in much more than what I would have learned at LIC," she says.
It's a rich man's world
A fresh PG student gets between Rs 2.5 lakh and Rs 5 lakh annually.
Full-fledged actuary with 5-10 years experience gets Rs 20 lakh.
An appointed actuary gets Rs 30 lakh.
Monika Bachhawat
(Chartered Accountant)
(211 Points)
Replied 06 March 2010
Can Any one Tell me what will be the last date for registeration to become eligibe for Nov 2010 exams. And how much papers can I attempt. And which papers should I appear.
eswaralal
(student)
(201 Points)
Replied 06 March 2010
hai monika,
first you have to entroll the student member. if you wish to write nov 2010 exam means dont waste your time you first entroll the student member after registration you buy three books at one time. my suggestion is you are in articleship trainee so first you write one or two exam. you have to choose any paper to write among 15. but so many actuarial student suggest you write by numberical order from 1-15.
important links in actuarial subject.
https://www.actuariesindia.org/Syllabus%20&%20Study%20Material/study%20material.htm
https://www.actuariesindia.org/Admission/Admission.htm
https://www.actuariesindia.org/The%20Actuarial%20Profession/Eligibility.htm
https://www.actuariesindia.org/Examination/examination%20fees.htm
Gita Iyer
(Specialist)
(135 Points)
Replied 06 March 2010
is it only 12th maths marks abv 85% or it includes 10th also (i.e individually 85% or more) ????
Gita Iyer
(Specialist)
(135 Points)
Replied 06 March 2010
and where such form needs to be submitted??--- manually or online??
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