hi my name is sujata and i am married and working in a bpo in noida... i am a graduate in science stream with maths and physics as my subjects and i have passed them with above 60% ....i have heard of acturial science and i wanna knw that what is the procedure for the preparation of the exams and how many exams are there in total that we need to appear for? what are the best institutes for the coaching classes for the preparation of these exams ? what subjects do we need to prepare ? plz guide me with all the information about it. regards sujata singh

Asked by sujata on 23 September 2008 at 4:33 PM.

Answered by Studyplaces Counsellor India

Actuarial Science is a study of mathematics, economics and business which is studied for the purpose of understanding the practicalities of business and ways of managing financial risks. Running a business is fraught with uncertainties as the companies running them have to be financially sound and also give the customers their dues. To manage these operational issues, study of Actuarial science comes in handy. Study of Actuarial Science The Actuarial science course consists of a solid foundation course in math's, statistics and economics and on all types of investments. By the end of the course, the students will have acquired a sound knowledge of the subject matter which is really mandatory as they will be holding very important positions in the company, which will be solely dependent on their analysis. Criteria: A person is eligible to be considered for admission as student member if he / she satisfies the following conditions . 1. Should have completed 18 years of age 2. Should have attained anyone of the following Educational Standards a. Passed 10+2 (H.S.C) or equivalent with at least 85% in Mathematics / Statistics b. Graduate or Post Graduate in Maths/Stats/Econometrics c. Any Engineer / CA / CS / MBA (Finance) / MCA d. Any member of Society of UK / US / Australia e. Fully qualified members of following Professional bodies such as i. The Institute Of Chartered Accountants of India (ICAI) ii. The Institute of Cost and Works Accountant of India (ICWAI) iii. The Institute of Financial Analyst of India (IFAI) iv. The Insurance Institute of India (III) passing with subjects 81- mathematical Basis of Insurance and 82- Statistics f. A students of following actuarial bodies provided at least one subject has been passed from these bodies i. Society of Actuaries, USA ii. Casualty Actuarial Society, USA 3. An application should be recommended by a member of professional body like such as Institute Of Chartered Accountant of India, Institute of Cost & Works Accountant of India and Institute Of Company Secretary of India Examination : The study course of ASI is divided into four stages : Core Technical Stage : This consists of 8 subjects each with one paper of 100 marks ( CT1 to CT8) and all are compulsory Core Application Stage : This consists of 2 compulsory subjects ( CA 1 to CA3) , CA1 consists of two papers 9 CA 1 and CA 1 2) whereas CA2 and CA3 shall have one paper each Specialist Technical Stage : This stage consists of 6 papers ( ST1 to ST6) and the students would required to choose any two Specialist Application Stage : This again shall consist of 6 papers (SA1 to SA6) and the student hasto clear anyone. For an aspiring student, a high level of mathematics is extremely good. List of Institutions In India for Acturial Science Training are followings Bishop Herber College, Trichy, Tamil nadu The National Insurance Academy, Balewadi Bancer Road, Pune Insurance Training Centre , Calcutta Kalyani University, Kalyani Nadia Dist West Bengal Directorate of Distance Education, Alagappa University College Of Vocational Studies, Delhi University Ernakulam Insurance Institute For more information log on Acturial Science training centres.