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Acturial Science

Actuarial science deals with calculation of insurance risks and premiums. It is built on the statistical evaluations of the financial economic and other implications of future contingents events.a creative aspect of the work of actuaries is forecasting of future contingent events.
Actuaries are often called upon to make decisions concerned with the financial soundness of insurance companies and pension funds. actuaries by virtue of their analytical incisive outlook can make significant contributions in the fields like demography social welfare etc. an actuary can be cerebral center of any financial sector.
Any person with a high degree of aptitude form mathematics and statistics can become an actuary . generally first class graduates or post-graduates in mathematics or statistics or those who had actuarial science as an optional subject at the degree level will be in a better position to qualify as actuaries.
The entrance examination is conducted by the actuarial society of India. Mumbai, Delhi, Hyderabad, Kanpur, Bhopal,and Kolkatta will be the examination centres.the entrance examination will be held on twice a year in may and November.

EXEMPTION FROM THE ENTRANCE EXAMINATION
First class graduates and second class post graduates with mathematics or statistics as a major subject are considered for exemption in mathematics paper of the entrance examination provided the total mark secured in the subjects.they should submit a written application to the society along with attested copies of certificates/marks sheet in respect of the examinations passed for all the years of the college course.

SOME COURSES
A few universities offer courses in actuarial science at the under graduates and post graduate level.
Degree level: the following universities offer courses at degree level.
Goa university,Goa-403 206 (BSc with actuarial science as a subject).
Kurukshetra university,Kurukshetra-136 119,Haryana (BA actuarial science).
University of Mumbai,Mumbai-4003 032 (BSc with actuarial science as a subject).
University of Delhi,Delhi-110 007 (BA with insurance as a subject and BA(vocational) with insurance economics and commerce as a subject).

PG Courses: A meritorious graduates in mathematics or statistics or those who have studied actuarial science as main or optional subject at the degree level are eligible for admission.
The department of statistics of the university of madras(MSc Actuarial Science).
Bishop herber college(autonomous)Tiruchirapalli -620 017 (MSc and post graduate diploma courses in actuarial science).
The Amity school of insurance and actuarial science ,new delhi-110 017(MSc actuarial science).

To qualify as an actuary a candidate has to pass all examination in the prescribed subject conducted by the professional examining body-actuarial society of India, Mumbai.

JOB PROSPECTS
At present life insurance corporation of India is the major employer of actuaries. However actuaries can function effectively in any sector where finance ,investment, statistics or scientifically based forecasting is involved.
USEFUL ADDRESSES
The secretary (education),
Actuarial society of India,
jeevan udyog,3rd floor
278,DN road,fort,Mumbai-400 001
www.actuariesindia.org

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