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Actuary

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by

Anna Liang

on 29 May 2013

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Transcript of Actuary

0 + - = 9 8 7 1 2 3 4 5 6 c Types of Employers Possible Risks Very, very little risks (heavily regulated)

Eye strain or Carpel Tunnel Syndrome
ergonomic injuries

stress and/or depression from taking exams while working What is an Actuary What is an Actuary a business professional who deals with the financial impact of risk and uncertainty

provide expert assessments of financial security systems

help design and price insurance policies, pension plans, and other financial strategies What is an Actuary play a key role in the psychological, physical, and financial stability of society

the backbone of financial security

essential to the insurance and reinsurance industry, other business, and government agencies Sectors Insurance

Reinsurance

Pension Plans

Social Welfare Programs Related Occupations Salary Range Education Required Actuary Labour Market Information Actuarial Analyst

Actuarial Assistant

Associate Actuary

Fellow assist with setting premium rates and performing data research

have flexible schedules

can work for insurance companies as well as state governments, auto insurers, or property insurers a student you become this after you take
most of the exams A student in the midst of taking exams
cannot sign documents assist with setting premium rates and performing data research

very flexible schedules

can work for not only insurance companies, but also state governments, auto insurers or property insurers assess the risk of certain events occurring and formulate politics that minimize the cost of that risk

assemble and analyze data to estimate the probability and likely cost of the occurrence of an event such as death, sickness, injury, or loss of property

responsible for calculating how much money to hold so insurance companies doesn't go bankrupt Anna Liang
GLC2OH-14 receive this title after taking a certain amount of exams
position higher than actuarial analyst Beneficial Secondary Courses All the mathematics courses
Data Management, Calculus, Functions, etc.
Take advantage of Advanced Placement (AP) and advanced courses
Computer Science University Diploma (Undergrad):

Actuarial Science

mathematics, finance, computer science, economics, accounting, statistics, business Specific Skills Required mathematics
computer science
business
Excel
Access
Word
PowerPoint analytical skills
project management skills
problem solving skills
strong communications skills
Computer Skills Actuarial Exams takes place every few months
number of exams differ depending on what path you take in actuary (usually around 7 or 8 exams)
it could take from 6-10 years to complete
must take first two exams
a typical candidate studies 100 hours for 1 hour of the exam
workplaces will give the candidate study time
will get a raise if exam is passed
not considered an actual actuary unless you pass all the exams
need it for signing rights on documents (you don't need to take it)
most companies make "actuary students" take exams or they'll get kicked out
Promotions are given after a certain number of exams are passed Experienced Fellows have the potential to earn from $150,000 to $250,000 annually
many actuaries earn more than that
(you can even become a millionaire!)

Compensation varies according to years of experience, industry, geographic region, and responsibilities
an actuary with a fellowship designation working as a financial manager in the banking industry could earn a higher salary than another fellow working in the health insurance industry title given to Actuaries who have finished all their exams Benefits few other occupations offer the combination of benefits that an actuarial career can offer

in almost every category, such as work environment, employment outlook, job security, growth opportunity, and salary (especially salary), a career as an actuary is hard to beat

good balance between work and life

high salaries (increases every time an exam is passed)

very little risks

start work right after you receive your undergrad Ranked as 2013's best job in US
Ranked consistently high in many factors for decades
One of the highest ranked occupations ever
100% of Actuarial Science graduates find a job budget analysts
market and survey researchers
financial analysts
insurance underwriters
mathematicians
statisticians
chartered accountant
financial risk analyst insurance account manager
insurance broker
insurance claims handler
insurance underwriter
investment analyst
operational researcher
pension scheme manager
pensions consultant THANK YOU FOR LISTENING!!! Calculus, Statistics, Probability Finance, Accounting, Economics Personal Characteristics self-motivation
creativity
independence
ability to work with others
organization
ambition SQL (Structured Query Language)
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