What are actuarial and actuarial science? Are they the same? According to Wikipedia, Actuarial science is a discipline that applies mathematical and statistical methods to evaluate risk in the insurance and financial industries. . An actuary is a professional business that deals with the economic impact of risk and uncertainty. Actuaries have a deep understanding of the economics of security systems, their reasons for being, their complexity, mathematics, and the way they work.
You can be a genius in math but not necessarily in actual science. Actuarial science is not all about mathematics, but involves lots of statistics, modeling, economics, finance, accounting and so on. So even when you don’t end up as an actuary, you will still have other careers as well such as working in risk management, investment, etc. So if you love mathematics, you will love pure mathematics. If you love applying mathematics (in business or finance), you will love actuarial science.
Actuarial knowledge does not guarantee a great job. A qualified actuary alone depends on the need in different countries for millions of hundreds of thousands. A new actuarial science graduate does not make you different from all other graduates. And, many Malaysians are now learning actuarial science. (JPA scholars, Bank Negara scholars, SC scholars, Khazanah scholars, UKM, UM, UiTM, USIM, UTAR, INTI, Taylor, HELP…)
It’s easy to get a bachelor’s degree in actuarial science. But that is not easy. Without a doubt, becoming an actuary is a tough road. If not, millions of people will become actuaries and the expectation of an actuarial job will be really bad. I recommend thinking three times before you decide to commit to a program so you don’t jump in for the wrong reason, i.e. money. I know some senior actuaries brag about making millions, including me! Yes, it is true, but remember that you will only earn well if you are good at many things, such as soft skills.
To become actual, you will not have an actual degree of knowledge. It is possible to become an actuary by taking any bachelor’s degree, but it is better to take some related degree, such as mathematics, statistics, economics, finance, etc. The most important thing is the professional tests. But most people who receive actuarial knowledge do not become qualified acts.
What are the criteria to become an actuary? According to the actuary’s website, you must have an excellent understanding of finance, accounting, finance, sharp analytics, project management, and problem-solving skills, specialized mathematical knowledge, strong computer skills, and solid written and oral communication skills. In addition, you must enjoy learning, be able to solve complex problems, enjoy writing and talking with people, be able to work effectively alone or as part of a team, be interested in various historical, social, legislative and political issues; self-proven valley
After a brief briefing on actuarial science and actuaries, the report Why Actuary? If I say this, it’s not because the salary is competitive, then you certainly don’t believe me! To be honest, yes, I choose the major aspect of my life’s actuary because it is financial FREEDOM (as well as the major aspect, there are some minor aspects). Then, I thought that I had average logical, mathematical and analytical ability. Since I do not want to teach, as it is more practical than abstract, mathematically, I thought that being an actuary would be correct. And as a not-so-bad student, I have no other choices! Because there is a myth in Malaysia: “The best student will always take Medicine, Engineering or Actuarial Science”. Finally, I choose an actuary as my career from the story.
If you are really interested in Actuarial Science, what do you think the person who got a local degree or an overseas degree is the same. Most importantly, it is a professional exam. There are many ways to pursue an actuarial science degree, when I study in a local university, I can only talk about the local one (Malaysia). For SPM students, you can get scholarship like JPA/MARA (I think this scholarship is easier after 308! ) Bank Negara, Khazanah, SC, Great Eastern and so on. If you don’t get it, you can try in Asasi UiTM (for Bumiputera only!), Matriculation, STPM or Private College/University, like INTI, Taylor, HELP …).
After Matriculation or STPM, with a CGPA of 4.00, you can do an actuarial science degree locally at UKM, UM, USIM, UiTM. For non-Bumi, you can only gain entry into UM or UKM.
Well, for those who want to become an actuary but are not admitted to the course, do not give up, but enter courses such as Statistics or Mathematics and take the professional actuarial exams.
The path to becoming an actuary involves a well-structured education plan. This involves university degrees of education and professional examinations, as well as other requirements. Prepare for your professional exams and start from the first year at University or College (or even STPM). With professional exams, you need to think about what the options are for companies or organizations.
Now he is still a first year, second semester actuarial student. It is a very long way.
Source: Actuary – General and Career
