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 Actuarial Science in UK

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baoz
post Jun 6 2009, 10:29 PM

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QUOTE(tabbycat @ Jun 6 2009, 12:01 PM)
Baoz, your friend must be really really outstanding to be grabbed by banks even before he graduated!!!!!! When did he graduate? Is he still working now? Mind to tell which bank is he working in??smile.gif
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I suppose it's the name.. LSE. Whether he's outstanding or not I dunno. But should be okay lar. I don't know which bank, but should be one of the big ones there.

My cousin too graduated from Cambridge with a Bachelor of Economics. Straightaway got a job in JP Morgan already. After that moved to Lehman Brothers which went kaput last year. But thankfully wasn't retrenched. The company who took over (Nomura) kept him.
gnixchin
post May 7 2010, 07:10 PM

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WOW! rclxms.gif

this thread is so informative.
i am taking SPM this year end.
ive been considering ALevels and then LSE for actuarial.

my knowledge on actuarial sci is really shallow. i hardly understand what are you guys talking about. haha biggrin.gif
do they call their papers, CT?
and what is the best choice after SPM? ALevels? if so, which subject?

should i go straight to UK or should i go to a college in malaysia first?
which college do you guys recommend for pre-u studies? icon_rolleyes.gif

thanks!
LightningFist
post Oct 4 2010, 10:33 PM

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Wow, so many stories of fresh graduates being picked up by IB... must be damn good and lucky, because look at the situation since 2008 to now, they are cutting jobs like heck... but so many Oxbridge etc...

Is it possible to regret not applying to Oxbridge? LOL.
Didn't think I'd want to study Economics as a degree but I don't know how different it is from the overall profile of quantitative business degrees (finance, business statistics, actuarial science, commerce).

I know Actuarial Science is directed towards risk and contingency, with emphasis in stochastics and modelling, which are of particular interest to IB analysts smile.gif

Good luck all biggrin.gif
hanquack
post Apr 15 2012, 03:43 PM

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Hey everyone, do any of you know the percentage of undergraduates from lse getting a fellowship in actuarial science? Or if you have any comments on the difficulty of passing the exams in uk, please do tell thanks!! smile.gif
RitzyHoke
post Apr 15 2012, 06:16 PM

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QUOTE(tabbycat @ Jun 5 2009, 09:56 AM)
Warwick MORSE is indeed quite a highly regarded course in UK. And to get into a four year course of Warwick MMORSE, you need at least a second upper class from your second year. Even if you are only doing 3 years MORSE, you can still gain about 3 to 4 exemptions from the professional papers, if you are doing exceptionally well in certain exams in MORSE that entitled exemptions. Warwick do not have generous scholarship though. There are only two scholarships relevant to us, namely the Malaysian scholarship, and MORSE scholarship.

oh ya! LSE is very generous in terms of financial bursary btw. haha! And it has a very huge presence of  international student presence there, so it is not right to say that they are not open to international students. Well, which UK universities would be not open to international students?? Because we are the cash cow to them, as simple as that. smile.gif

Honestly speaking, I would advise people to go to universities with better rankings although the course you want to do there might be second to another university whose ranking are not that great, but appears top in the course you want to do. Some employers in UK only targeted certain universities when it comes to recruitment. So my thinking is that even though if you are doing a course which is the top one in UK, but unfortunately in a not really prominent uni, you are going to miss out alot on the career fairs opportunities etc.

If you really want to go UK uni, especially certain uni like LSE (not only actuarial science course), ask the college education counsellors what modules are more preferable by LSE in terms of getting in. During my year of application, LSE asked for 3As as entry requirement, but they totally disregarded the "A" in Accounting. The 3As have to come from another three modules you do, not including Accounting. I am not sure how the entry requirement are like now.. but nor harm checking this out. Whats the point of doing Accounting if you want to go LSE, but LSE did not consider the A in this subject at all?!

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There's a MORSE scholarship? shocking.gif
LSE gave me a 3A-excluding-economics offer for Actuarial Science, haha. They don't like Accounting because it's a non-traditional subject and apparently it's easy to get an A or A* for that ... so most top unis in the UK will disregard that subject.

Planning to do MMORSE!

EDIT: Just realised I replied to a 3-year-old post doh.gif

This post has been edited by RitzyHoke: Apr 15 2012, 06:17 PM
LightningFist
post Apr 15 2012, 10:02 PM

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QUOTE(RitzyHoke @ Apr 15 2012, 08:16 PM)
There's a MORSE scholarship?  shocking.gif
LSE gave me a 3A-excluding-economics offer for Actuarial Science, haha. They don't like Accounting because it's a non-traditional subject and apparently it's easy to get an A or A* for that ... so most top unis in the UK will disregard that subject.

Planning to do MMORSE!

EDIT: Just realised I replied to a 3-year-old post  doh.gif
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There was no such scholarship last year. Plus this post is so old.

LSE's offers are always predictable. If you have more subjects they will exclude Economics. If you have Further Maths a grade would be specified. And they usually stick to their minimum/standard requirement.
glgan1
post May 21 2012, 02:55 AM

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I know that the 3 years course MORSE offers at most 4 CT papers exemptions. Can I take 2 or 3 more extra CT papers by my own during my studies if I decided I really wanna be an actuary?
gomes.
post May 21 2012, 09:48 AM

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QUOTE(hanquack @ Apr 15 2012, 03:43 PM)
Hey everyone, do any of you know the percentage of undergraduates from lse getting a fellowship in actuarial science? Or if you have any comments on the difficulty of passing the exams in uk, please do tell thanks!!  smile.gif
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Quite a number of undergrads from LSE (and other uk unis, as far as i know) don't go on to be an actuary, but rather they choose (prefer) to work in banks/investment banks/finance/investments etc.

Some of the CT papers arent that difficult, but to pass everything and be fully qualified as an actuarist is quite challenging.

QUOTE(glgan1 @ May 21 2012, 02:55 AM)
I know that the 3 years course MORSE offers at most 4 CT papers exemptions. Can I take 2 or 3 more extra CT papers by my own during my studies if I decided I really wanna be an actuary?
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Yes you can, but there is a high chance you'll be busy with your course (MORSE) during the 3 years. You must put in many hours in addition to the many hours of study you need for your MORSE degree.

My suggestion is to focus on MORSE, get your 4 CT paper exemptions (you need a certain mark in your uni exams, if you get below that mark, you dont get the exemption for that CT paper, so its important to score well on the papers in your MORSE course that gives you exemptions).

If you are interested in investment banking, stocks, finance etc. then MORSE is a good course for you. My experience is that investment banking/finance/investments/stocks etc. is alot more interesting than the insurance line/actuarial, its boring, haha..
LightningFist
post May 21 2012, 11:56 AM

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Your credibility is severely undermined by the fact that there's no such thing known as an "actuarist".
RyukA
post May 21 2012, 04:29 PM

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QUOTE(LightningFist @ May 21 2012, 11:56 AM)
Your credibility is severely undermined by the fact that there's no such thing known as an "actuarist".
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I lol'ed at that one. doh.gif

Still prefer Actuarial Scientist. Makes pricing premiums sound so hardcore.
LightningFist
post May 21 2012, 06:14 PM

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QUOTE(RyukA @ May 21 2012, 06:29 PM)
I lol'ed at that one.  doh.gif

Still prefer Actuarial Scientist. Makes pricing premiums sound so hardcore.
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Yeah actuarist is hardly a slip on the keyboard. lol
gomes.
post May 22 2012, 03:57 AM

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QUOTE(LightningFist @ May 21 2012, 11:56 AM)
Your credibility is severely undermined by the fact that there's no such thing known as an "actuarist".
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My english isnt exactly the best and i've been using the term 'actuarist' even though its actuary since my a levels. Other people I know say 'actuarist' too, its wrong, but its just something people get on with. I dont understand what you mean by credibility, what i've written in all my posts is correct. Including the other post about mathematical finance being in an actuarial science course. Like Ive mentioned in my other post, you learn stochastic differential equations, black scholes model, ito's lemma/ito's calculus, martingales, markov chains etc. Isnt that mathematical finance??
LightningFist
post May 22 2012, 10:39 AM

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QUOTE(gomes. @ May 22 2012, 05:57 AM)
My english isnt exactly the best and i've been using the term 'actuarist' even though its actuary since my a levels. Other people I know say 'actuarist' too, its wrong, but its just something people get on with. I dont understand what you mean by credibility, what i've written in all my posts is correct. Including the other post about mathematical finance being in an actuarial science course. Like Ive mentioned in my other post, you learn stochastic differential equations, black scholes model, ito's lemma/ito's calculus, martingales, markov chains etc. Isnt that mathematical finance??
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Not sure why you would knowingly use a wrong word... given that's the field you've been trained in...

But yeah, that's Mathematical Finance alright. Maybe I was thinking about stuff that wasn't also common to other courses, like Risk, Statistics, and Finance... but of course Mathematical Finance is Maths and all of those things. Sometimes the lines get blurry... Financial Maths, Quantitative Finance... you're right.
RyukA
post May 22 2012, 05:27 PM

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QUOTE(gomes. @ May 22 2012, 03:57 AM)
My english isnt exactly the best and i've been using the term 'actuarist' even though its actuary since my a levels. Other people I know say 'actuarist' too, its wrong, but its just something people get on with. I dont understand what you mean by credibility, what i've written in all my posts is correct. Including the other post about mathematical finance being in an actuarial science course. Like Ive mentioned in my other post, you learn stochastic differential equations, black scholes model, ito's lemma/ito's calculus, martingales, markov chains etc. Isnt that mathematical finance??
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Okay. lets put this simple.
Mathematical finance, is too wide of a term to define.
u do it can range from mathematical framework of finance, up to theories behind pricing of derivative instruments, or theory of interest.

SDE, BS model, Ito stuff, martingales, n Markov Chains are just preliminaries of Mathematical finance,
(and even with that, depth of study into each detail of the topic, is another factor).
mathematical finance cover that, but are not limited to that, considering u still have Interest rate derivatives, Exotic option pricings, jump-diffusion process, Stochastic volatility and Monte-carlo method of pricing, Smile dynamics etc.
what lightning is trying to say is, Actuaries in general "seems" to have no much emphasis on this area,
financial economics CT of the actuarial sylabus just cover basic Stochastic differentials, Ito, and other preliminary in mathematical finance. One can only say they do get exposed to mathematical finance, but claiming they did study
a lot on mathematical finance, would just be as absurd as a mathematician that took measure theory saying they did mathematical statistics.

I am not implicit or explicitly proving anyone wrong here, rather point out that Mathematical finance itself is a
wide topic. hence claims of coverage can be inconsistence to one's understanding.

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