Just for curiosity, nowadays actuarial science sumhow became the dream course for everyone who are good in maths, it's like ''oh I got an A in maths, I want to be an actuary'' kind of thing. Will this be like a trend like the IT course 10 years or more ago whereby it suddenly became a popular course and end up there are less jobs compare to the graduates?

I'm asking this because I have seen and heard many people that scored an A+ in spm add maths tend to have the passion to be an actuary someday, is this a false sense that scoring in maths is enough to study actuarial science?

Is there such a high demand for actuary? If many people who are good in maths or even those who scored an A in exams go for actuarial science, would this amount way surpass the actual demand for it in the market?

I ask these questions because actuarial science has become a blooming course in the world where more and more universities provide such course. For parents in thier 40s or 50s, they didn't even heard of this course in the past, and by encouraging their children's dream alone without knowing the actual situation, would this lead to dissapointments or regrets later on?

Thank you monkeyseemonkeydo for posting these informations !
I love acturial science !
I'm just form 4 this year ...
I would like to do acturial science in future because i like Math which you've mentioned for the first one .
Well , after i read this post ...
I actually got scared ...
haha ...

But my main target is to get " high salary " in future as i'm spending a lot of money now ... ( approximately 3k per month ) ...
hahah
what should i do ???
Can you give me some advice ?
Thank you !

Do you know what accounting is?

ps: Anyway, I'm not interested in trying to convince anyone any further that accounting is nor part of the actuarial field. Not trying to be lanci, just that I've done my part to summarize what I've learned so far since I'm doing an actuarial degree myself. To anyone who is interested in going into this field as well, it's you can either do more research beforehand or discover it sooner or later during your studies.

Thanks for that.

I realise a lot of the skills needed for work in whichever field (finance, quantitative finance, actuary, banking) can and will be learned only then. But before that I have to do well first. I know that I cannot enter uni and simply because I don't have a further maths background I allow myself to fall behind.

Ok well I didn't take further maths that's why I'm planning to take classes or something at least to help me. I'd like to know what there was in Further Maths that I might have missed out on - CIE A level further maths is only A2 and only 2 papers (not sure if this is how it is for everyone)... while other A level boards have further math modules for AS and A2, some of which are interchangeable...

In A level maths I have covered algebra, pemutations and combinations, binomial expansion, polynomials, series/progression, differentiation, integration, differential equations, vectors, complex numbers (and others, but these are specifically mentioned in the CT list).

Now here are things I have never done/heard of (I am reading out of a non-comprehensive CT1-CT8 math content list): interpolation and local approximation, higher order derivatives, Lagrange multipliers/maximisation under constraints, Taylor's theorem (power series expansion of e^x), double integrals and changing their order, partial derivatives of two variables, (what are: exact, separarble, logistic, linear?) differential equations, matrices.

Now here are things in the CIE Further Maths syllabus I don't know: polar curves (how does this relate to polar coordinates?), area of a sector (some integration formula), sum of finite series, mathematical induction (something I am worried about), conjecture, reduction formula to evaluate definite integrals, mean values and centroids of 2D and 3D figures using strips, discs, or shells (including use of a parameter), arc lengths, complementary functions, particular integrals, the general solution, de Moivre's theorem for a positive integral exponent (to express trigonometrical ratios of multiple angles in terms of powers of trigonometrical ratios of the fundamental angle; for a positive or negative rational exponent; in expressing powers of sin θ and cos θ in terms of multiple angles; in the summation of series; in finding and using the nth roots of unity),
some vector product rules with |a||b|sinθ n where n is the unit vector (a2 b3 – a3 b2) i + (a3 b1 – a1 b3) j + (a1 b2 – a2 b1) k, the axioms of a linear (vector) space, linear independence, determine whether a given set of vectors is dependent or independent, the subspace spanned by a given set of vectors, a space is a linearly
independent set of vectors that spans the space, the dimension of a space is the number of vectors in a basis, represent linear transformations, ‘column space', ‘row space', ‘range space' and ‘null space', the rank of a square matrix, and use (without proof) the relation between the rank, the
dimension of the null space and the order of the matrix, use methods associated with matrices and linearspaces in the context of the solution of a set of linear
equations, evaluate the determinant of a square matrix and find the inverse of a non-singular matrix, ‘eigenvalue' and ‘eigenvector', as applied to square matrices, express a matrix in the form QDQ^-1.

What do I need to do? How much of the further pure maths is relevant? Is actuarial maths all about the vectors and matrices, because I don't like vectors and I haven't learned a lot of matrices, as exemplified by the above.

(School said prior statistics knowledge is not required)

Thank you. I hope this is understandable.

-About not taking further maths, it was because it was only A2 - of course now I regret it, but it did not seem like the right choice then, and I wanted to maximise my grades - I was wrong, of course, because A2 further maths would have helped immensely. It's not too late (to catch up before heading to uni?)

Haha RyukA you make it sound like it's all quite simple.

I know a lot of posts go up saying actuarial science doesn't have the serious hard kind of straight maths - I like the sound of that, because I am not a hard fan of vectors or trigonometric graphs.

However, looking at all the pure math topics they have, especially matrices and vectors, I kinda go like "Whaaah" cos who the hell likes that stuff anyway.

And mumeichan is telling me one god book will help me. I will definitely check it out after my exams.

Mumeichan are you in a UK school now?

And RyukA how is ANU? Do they have a July intake for Actuarial Science, and is it the same as the Feb intake? I can get in without Further Maths you reckon?

Thanks for all the info guys.

RyukA: I see, TY, so you just switch up the classes and end up the same. Great

Well I eyed Actuarial Science a little while back, too bad didn't take Further while I could have. My school Does offer it, and the schools won't be pleased that I didn't take it while I could have.

I like maths and calculus enough. The school says "prior knowledge of statistics is not required". I did S1 and I'm doing M1, didn't do S2. Suppose that doesn't matter then. (M = mechanics). Hope to get A*. But you know how it is, the results come out after application, and ultimately A* is not the requirement, but necessary if they hold. if they "hold" I am lucky, if they don't then ...

I feel like I should tell the schools (compulsory personal statement) in my application that I have time from November 2010 till September 2010, and that I want to maybe get a work attachment and take math classes - actuarial stuff. Is that part about classes appropriate at all? They could think I am industrious, but they could think I am not prepared. And I want to make it clear that I am definitely ready, but I want to prep myself for the work ahead. How do I say this? Please help.

I'm currently a Form 5 student from Malaysia opting to take up Ac .Sc. next year.
1)Which pre-uni courses should I take up considering STPM , A-levels , VCE , ADP.
2)What subject best to take.
3)Which uni.

gosh it seems like most of my smart friends are persuing for Actuarial Science.

Just wanna ask, if u persue ur studies in AS, what if you cant get the job(i know its mere impossible but what IF)? What else can you work with the diploma?

IMHO if you love maths you should go for engineering. This is where you would apply your maths into fun and challenging tasks like calculating how much pressure can your building structures withstand.

Actuaries deal with risks about peoples and I must say it's extremely boring (for me at least). Be prepared to sit for long hours in front of a computer looking at long list of statistics about peoples.

If you are opting for actuarial science because of the maths then a maths degree would be a better option for you. Actuaries only use simple maths when they work. They are trained by all those vigorous maths because they need a HIGH accuracy for their results as it is vital for the company. And be warned, even if you are applying maths, it's won't be as fun as what usual maths would provide.

Example of work of actuaries --> http://en.wikipedia.org/wiki/File:Excerpt_...003_Table_1.png

alot of people with actuarial science degrees (speaking mainly for UK based degrees, e.g. LSE) dont necessarily became actuarists. they just work in the financial sector, like in a bank or something, but not related to actuarial. so with an actuarial science degree you can get a job in the financial sector, like analyst/graduate programme in banks etc. thats what quite a number of people with actuarial science degrees from the UK do

Hmm, I believe he meant those that completed the degree but did not take professional papers? Hence, they are not called actuary if that's the case, no?

An actuarial degree is irrelevant. You are an actuary if you work or worked as an actuary, and to work as one you have to be qualified, either as an Associate or Fellow (in the UK), or elsewhere.

To be a new Associate of the Institute and Faculty of Actuaries (The Actuarial Profession) you need to:

- Have passed or be exempted for all 9 CT papers
- Have passed or be exempted for all 3 CA papers
- Complete one year's worth of work-based skills in the four key dimensions of practical application of actuarial skills, professional and ethical, communication and commercial.
- Attend a one-day professionalism course for Associates

To be a new Fellow you need to:

- Have passed or be exempted from any 2 (in one case 3) ST papers
- Have passed 1 SA paper
- Fulfill the work-based skills requirement (includes 3 years supervised actuarial work)
- Attend a two-day professionalism course within 12 months of being admitted as a Fellow

I not in actuary field actually, just planning to start to walk on this road. Just wondering where to start with. Planning to take papers later without entering the actuarial science degree.

I love to calculate probability.

I often calculate the probability of many different things in life (useful or not).

How could I get a "taste" of what is actuarial science?

Hi All,
Just looking for some advice from "sifus" here......

I am a fully qualified accountant (ACCA UK) and is looking for sort of like a career change from accounting to finance field. If, and say if, I choose to do actuarial science, is it advisable to attempt a "teaser" paper first rather than diving in like a Rambo and get myself killed for nothing?

The Institute of Actuaries (UK) allow the public to do CT1 without the commitment of being a member. I believe it maybe a good idea to attempt paper CT1 Financial Mathematics just to test the water.

What if I pass the paper and seem to like it? Is it any indicators that I should proceed and do CT2 to CT8? Or just passing CT1 is too early to tell?

By the way, I am just planning to do self study and via correspondence course with BPP (Actuarial Science Training provider company). Experience wise... sadly, I am working for an MNC (manufacturing) in Penang and therefore is devoid of finance exposure.

Or maybe I am being too naive? That it is better for me to do CFA Level 1 instead? And what is the difference between CFA versus the actuarial exams? Noted that alot of actuarial graduates (actuaries wannabe) end up doing CFA instead.

Thanks in advance...Any feedback, no matter how crude is always welcome.

I am nw currently waiting SPM result,

And  I have a few questions, hope u all can answer it.

1) Is there any company that provide AS grad scholarship?

2) What subject should I choose for A-level?

I have go throught all of the pages but still nt yet get the answer I want.

Can someone help me?? T.T

I just graduated SPM examination and am an ART student (only taken general mathematic, Perdagangan, economy but not Add Math) well, as a student not being exposed to add math.  Does it affect the ability learning to become an actuary? 

My friend wanted to study locally for actuarial science in UTAR; I was wondering would it affect his chance of working oversea since his study a local U?

I just found out about courses looks similar to actuary.  Like Financial engineering and mathematical financial.  Are these courses similar to actuary?

Btw, good post and thank you. ^^

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Added on July 23, 2011, 7:08 pm
Hey, I do have interest in the Actuarial Profession. But I want do some research before I make a decision. Do you know that where can I find a qualified actuary in Malaysia? or in Sabah? I'm from Sabah. I would like to talk with them to gain more informations about this career. Thank you and please asap.

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Added on July 23, 2011, 7:12 pm
Hey, I do have interest in the Actuarial Profession. But I want do some research before I make a decision. Do you know that where can I find a qualified actuary in Malaysia? or in Sabah? I'm from Sabah. I would like to talk with them to gain more informations about this career. Thank you and please asap.

Thanks for replying. Yeah. I've checked the website of Actuarial Society of Malaysia to find their contacts. But there is just a list of their committee members but no attached with their contact details. Is it really hard to find an actuary in Malaysia? Those posts above said that got around 50+ actuaries in Malaysia,so, I think at least can find one! Between, where do you come from ? Outside Malaysia?

Anyway, please update me if you have the latest information about the actuary or about this career !! Thanks.