About Actuary Science
Actuarial science attempts to quantify the risk of an event occurring using probability analysis so that its financial impact can be determined. Actuarial science is typically used in the insurance industry by actuaries. Actuaries analyze mathematical models to predict or forecast the reasonableness of an event occurring so that an insurance company can allocate funds to pay out any claims that might result from the event. For example, studying mortality rates of individuals of a certain age would help insurance companies understand the likelihood or timeframe of paying out a life insurance policy.
Actuarial science has gained immense popularity across the globe resulting in huge demand for certified professionals.
Why is Actuary Science important?
Through their knowledge of statistics, finance, and business, actuaries assess the risk of events occurring and help create policies for businesses and clients that minimize the cost of that risk. For this reason, actuaries are essential to the insurance industry.
Actuarial science certified professionals, executives and managers are in high demand in companies across the globe.
Who should take the Actuary Science Exam?
• Insurance professionals
• Anyone who wants to assess their Actuary Sciences
• Insurance managers and senior executives
• Professionals working in outsourced companies responsible for Actuary Science
• Any professional with skills and knowledge on Actuary Science
• Anyone interested in Actuary Science
• Anyone who wants to learn Actuary Science
Knowledge and Skills required for the Actuarial Science
Candidates gain quick success in career of actuarial science if they have skills of critical thinking and good communication skills.
Actuarial Science Practice Exam Objectives
Actuarial Science exam focuses on assessing your skills and knowledge in insurance, statistics and actuarial sciences.
Actuarial Science Practice Exam Pre-requisite
There are no prerequisites for the Actuarial Science exam. Candidates who are well versed in insurance, statistics and actuarial sciences can easily clear the exam.
Actuary Science Certification Course Outline
1. Mathematics
2. Business Finance
3. Insurance - Principles, Products and Practices
4. Actuarial Models
Exam Format and Information
Certification name – Certificate in Actuarial Science
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees - INR 1199
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