Course Details to Become A Actuary

COURSE DETAILS TO BECOME A ACTUARY

Course to Become an Actuary:

An actuary is offered as a course by the Institute of Actuaries of India to help candidates become fellow members. Besides clearing the entrance test to take up the course in this institution, a candidate will have to clear 15 papers in the actuarial science exam conducted by this institution.

There are three groups in the course, and the first group encompasses CT series papers. The papers involve the development of the theory of actuarial science and application of statistics and mathematics to different actuarial applications like investment, employee benefits, general insurance, and life insurance.

An introduction to financial reporting, financial economics and economics are also included in this initial stage of the course. Even though most papers in the actuarial science course are theoretical papers, the exercises and the questions in the test are of practical nature. The tests are practical because they reflect real life situations. The other two groups are core application or CA1, Specialist Technical or ST, and Group 3 is Specialist Application or SA.

List of Papers in Different Groups in Actuarial Science Course:

Group 1 Subjects:

  • CT1 – Financial Mathematics
  • CT2 – Financial and financial reporting
  • CT3 – Probability and mathematical statistics
  • CT4 – Models
  • CT5 – General insurance, life and health contingencies
  • CT6 – Statistical Methods
  • CT7 – Business Economics
  • CT8 – Financial Economics

The Second Group of CA and ST Subjects and The List of Papers is Given Below:

  • CA1 – Actuarial Risk Management

Specialist Technical Stage (ST):

  • ST1 – Health and Care
  • ST2 – Life Insurance
  • ST4 – Pension and Other Employee Benefits
  • ST5 – Finance and Investment A
  • ST6 - Finance and Investment B
  • ST7 – General Insurance – Reserving and Capital Modeling Specialist Technical
  • ST8 – General Insurance – Pricing Specialist Technical
  • ST9 – Enterprise Risk Management

The Third Group Includes SA Series Papers, and They are Listed Below:

  • SA1 – Health and Care
  • SA2 – Life Insurance
  • SA3 – General Insurance
  • SA4 – Pension and other employee benefits
  • SA5 – Finance
  • SA6 – Investment

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