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Eligibility for actuarial science


(Guest)

Eligibility for Actuarial Science

 

1) Should have completed 18 years of age 

2) 
Should have attained any one of the following Educational Standards

 

 

A) Passed 10+2 (H.S.C) or equivalent with at least 85% in Mathematics 
Or Statistics.

B) Graduate or Post Graduate with Mathematical subjects. For this purpose following subjects constitute mathematical subjects;

• Mathematics or any of its branches 
• Statistics or any of its sub classifications such as Mathematical Statistics and Applied Statistics 
• Econometrics 
• Computer Sciences 

Any discipline of Engineering Subject in Science such as Physics or its branches. The admission under these groups will, however, be subject to following conditions:

The total marks secured in the subjects coming under the classification of Mathematical subjects taken together in all the years of the degree course not less than 55%. The content of Mathematical subjects content in all the years of the course taken together is not less than 50% of the total content. This is measured by the ratio which the maximum marks allotted to Mathematical subjects in all the years of the Course bears to the total maximum marks allotted to all subjects included in the examination of the entire course excluding languages.

C) MBA/PGDBA or equivalent in disciplines having mathematical/ statistical content. Each case to be examined on case to case basis. 

D) Fully qualified members of following Professional/Educational specified: 

• The Institute of Chartered Accountants of India (ICAI). :)
• The Institute of Cost and Works Accountant of India (ICWAI). 
• The Insurance Institute of India (III) passing with subjects 81- Mathematical Basis of Insurance and 82-Statistics Full qualification would mean completion of all required examination leading to designation based on such full qualification such as ICA in case of Institute of Chartered Accountant of India. In case of Insurance Institute of India it would however mean AIII plus pass in subjects 81-Mathematical Basis of Life Insurance and/or 82-Statistics. 

E) A student member of following actuarial bodies 

• Institute of Actuaries, UK 
• Faculty of Actuaries, UK 
• Institute of Actuaries of Australia 

F) A student of following actuarial bodies provided at least one subject 
has been passed from these bodies 

• Society of Actuaries, USA 
• Casualty Actuarial Society, USA 

3) The medium of Instruction in final stage of examination based on which admission is sought should be English.

 

Source : https://www.trumpandgates.com/index.php/actuarial-science-information/eligibility-requirements


 46 Replies

Mayank Singhvi (CA FINAL) (148 Points)
Replied 12 September 2011

CAN YOU TELL ME WHT AVG, PACKAGE DOES AN ACTUARY GETS?

Rahul (Chartered Accountnat CS)   (1580 Points)
Replied 12 September 2011

I got 95 in maths in 12th CBSE, 2010. But I had Commerce. Now am i eligible for this  course? . can anybody please help me out. Am pursuing B Com 2nd year now

Tony G (Vice President but looking for a different meaning to life)   (251 Points)
Replied 12 September 2011

Originally posted by : Rahul

I got 95 in maths in 12th CBSE, 2010. But I had Commerce. Now am i eligible for this  course? . can anybody please help me out. Am pursuing B Com 2nd year now

Yes you are eligible(assuming that you are 18+ years of age). Check the website of Institue of Actuarial Sciences of India to know the syllabus and fees details. If you are planning to do it after IPCC, I would advise u to go for dummy articles and do actuarial sciences as it is 10 times tougher than CA (However, it is subjective to your level of skill and intelligence). All the best

1 Like

Tony G (Vice President but looking for a different meaning to life)   (251 Points)
Replied 12 September 2011

Originally posted by : Mayank Singhvi

CAN YOU TELL ME WHT AVG, PACKAGE DOES AN ACTUARY GETS?

A fully qualified Actuarial Science expert can get a starting package of around Rs.20 lakhs p.a. Also in India, the demand for actuaries in more than the available one. So, u can even expect an higher package than what I had mentioned above

2 Like

* Krishna * (CA Student) (6149 Points)
Replied 12 September 2011

@ Indian Bull

I don't understand why you advising students here to take dummy for the sake of other course. Mr Rahul, never give a chance of idea to get a dummy articles. Articleship is very important part of CA Curriculum. Institutes top officials too saying every time that never take dummy articleship, even top rankers have said this, hope you might be knowing this. If by chance you decides to go for dummy, then in my opinion, getting a CA job after your completion is just a dream.

3 Like

ARUN KUMAR (Financial Consultant ) (992 Points)
Replied 12 September 2011

Thanks for Sharing..............

1 Like

Tony G (Vice President but looking for a different meaning to life)   (251 Points)
Replied 12 September 2011

Originally posted by : Krishna

@ Indian Bull

I don't understand why you advising students here to take dummy for the sake of other course. Mr Rahul, never give a chance of idea to get a dummy articles. Articleship is very important part of CA Curriculum. Institutes top officials too saying every time that never take dummy articleship, even top rankers have said this, hope you might be knowing this. If by chance you decides to go for dummy, then in my opinion, getting a CA job after your completion is just a dream.

Mr.Krishna, why dont you be a bit realistic? ICAI may make lots of propaganda, but look at what is happening in the reality. Ya, articleship is important if and only you take a job in any audit firm or a job in accounting, auditing or taxation or plunge into practise. Take any other job profile which many CAs enter, for eg, Equity Research, PE, Project Finance and lots and lots, there you will find that articleship experience are totally discounted for such job profiles. In short, a dummy has an equal chance of succeeding there as much as a person with regular articles experience. and secondly, the person who query i had responded asked about actuarial sciences and mind you, the job profiles for a CA+Actuary is totally different and not to forget, you have to give actuarial sciences papers every 6 months and each paper is more tougher.  Still if you are not convinced, you can contact any CA+ Actuary degree holder in this forum and do some research and get your answers. All the Best

1 Like

Rahul (Chartered Accountnat CS)   (1580 Points)
Replied 12 September 2011

Thanks guyz

I agree with Indian Bull that if one wants to do acturial then he must drop his articleship

 

But at the same time I do agree with Krishna that without articleship there would no exposure and difficulty in finding a job

 

But well now i am thinking to focus on NOV 11 and will then definitely think about all this


(Guest)

thnx a ton for the info!!!!

i am interested in becoming an investment banker so which course should i choose after c.a? cfa or acturial science one.....

1 Like

(Guest)
Originally posted by : aditya

thnx a ton for the info!!!!

i am interested in becoming an investment banker so which course should i choose after c.a? cfa or acturial science one.....

In my opinion, CFA will be better if you want ur career as an investment banker! All the best!

1 Like

Gaurav Kochar (CA) (332 Points)
Replied 12 September 2011

I want to go for Financial advisory and consultancy services after clearing my CA exams. So is CA+actuary a wise decision?

I have cleared my IPCC both the groups in the first attempt. Now I want to know if I appear for actuary next year (May 2012), can I give the 15 papers together ? And is it compulsory to give all the paers? I have studied Maths and Stats and have scored 88 in my 12th ISC, so will I get a direct entry before graduation ?

CA. Gunjan Gupta (Financial Planning & Analysis)   (36 Points)
Replied 13 September 2011

For those who want to do actuarial science, this is the right time to enter.  This is because the combination of CA+ Actuary is rare and tremendously valued in market. Your scope of work will increase to a great level. I am also a newly qualified Chartered Accountant and acquired the membership of IAI

3 Like

manish agarwal (IPCC,PMIR,Bcom[h]) (88 Points)
Replied 22 September 2011

 Actuary is the toughest course in India 100times tougher than CA 

Aditya khatri (MBA ACTUARIAL SCIENCE) (34 Points)
Replied 11 October 2011

Hi

First of all there are only 225 fully qualified actuaries in India. Noe you can estimamte the demand of fully qualified actuaries. If you become a fellow of Institute of actuaties of India your salary will be in a range of 40-60 lac pa. Its a realistic figure . Regarding investments, after clearing CT and CA level you have to choose a specialisation and the options are investments, enterprise risk management , life insurance and general insurance . A CFA only studies about assest management but any actuary Studies liablities also i.e. Risk involved in investments so an actuary will allways be preffered over a cfa

Regards

Aditya Khatri

MBA Actuarial Science

NMIMS

3 Like

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