answersLogoWhite

0


Best Answer

One can enter the actuarial profession with only a bachelor's degree, usually in mathematics, finance, statistics, or some other quantitative field. However, becoming a fully qualified actuary requires passing a series of examinations that can take several years to complete.

User Avatar

Wiki User

15y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What level of education is required for becoming an actuary?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Statistics

What is the lowest level of measurement required to determine the mode?

The nominal scale.


Which of these is true of unclassified data?

Aggregating it may raise its classification level


How much does a statistician make?

Entry-level earnings for statisticians generally range between $35,000 and $50,000 a year. It all varies on their education, and their experience. If you are advanced you can make over $100,000 per year.


Is it true that descriptive statistics involve using sample data to make inferences or generalizations about a population?

Not necessarily. The UK Census (not sample) collects descriptive statistics such as level of education, ethnic identity, religious beliefs and so on.


What is an actuary?

Actuary - A specialist in the mathematics of insurance who calculates rates, reserves, dividends and other statistics. While sometimes the term is used loosely, the title Actuary really belongs to those who meet the requirements of one of the Actuarial Societies, the Casualty Actuarial Society (CAS), for Property and Casualty Insurance, or the Society of Actuaries (SOA), for Life and Health Insurance. To qualify for membership in these associations, the individual must pass a number of extremely difficult technical mathematical examinations. Because of the rigorous requirements for membership, Actuaries, are very much in demand in the insurance industry and command very high salaries. Actuaries are the analytical backbone of our society's financial security programs. They are the brains behind the financial safeguards we have implemented in our personal lives, so we can go about our daily lives without worrying too much about what the future may hold for us. These are the safeguards that protect us from life's catastrophes. The insight into risk that actuaries have also helps to ensure that our savings are working hard for us, so that everything we love and cherish can grow and flourish. The work of actuaries benefits all of us. "ACTUARY" is a mysterious occupation. Someone once said that an actuary is a guy who, if he enters a revolving door behind you, comes out ahead of you. That's only a joke but it indicates the level of intelligence associated with these professionals. Why is a career as an actuary so satisfying? If you choose an actuarial career you can expect the following: Diverse and varied work. Actuarial skills are in demand in many financial sectors from insurance, pensions and benefits, investment and asset management, to banking, healthcare and the management of large scale capital projects. Working as part of a team or on your own, your role can be limitless, from consultant to analyst to troubleshooter to risk assessor - all in the same day. Influential role. Actuaries often work closely with senior figures from other professions or organisations. Their specialist training and unique skills mean they are behind many high level strategic decisions made by financial service companies and governments. Professionalism. Actuaries are personally responsible for upholding the highest professional standards. The nature of the job demands that actuaries combine good business sense with safeguarding the public's financial interests. Intellectual satisfaction. Actuaries are problem solvers. They use their training to analyse and interpret data, create models of the future to assess risks and estimate outcomes. Then they communicate these often complex facts, ideas and recommendations to people from a wide range of backgrounds. A good work-life balance. With variety comes flexibility, allowing you to balance professional commitments with personal ambitions. Plus opportunities to work part-time, abroad, or from home means you can adapt your work pattern to suit your changing lifestyle. Well paid. Responsibility can come early as you progress through the examinations. With responsibility comes reward. Salaries and benefits packages are excellent - even for those starting out in their career. In fact, it's one of the highest paid professions wherever you go in the world. Whilst studying to qualify as an actuary, your salary also increases significantly, reflecting your achievement. Check out salaries page for typical salaries for new entrants to the profession. An actuary is a specialist mathematician who calculates premiums for insurance companies.

Related questions

What is the required education level for politics?

Is education required to enter into politics ?


If you are an army recruiter, what is your education level?

An Army recruiter is not required to have any education over a GED. Though they will have to take boot camp and military classes before becoming a recruiter.


What clinical education is necessary for becoming a meternity nurse?

With your academic rotation you will also have clinicals. There is no other education required unless a specific jobs requests it which is unlikely for an entry level position.


What is the highest level of education required for marines?

Middle school.


-What kind of education is required to be a translator?

Good education, usually to degree level, in the chosen language(s), and a good level of competence in English, usually to degree level.


What is the minimum education level required to become a hair stylist?

The minimum education level to become a hair stylist is a high school education. Then, beauty school to become a licensed cosmetologist.


What education is required for x-ray technicians?

A wonderful career to have, becoming an x-ray technician is no easy feat and you need a high level of education together with an ability for hard work. Check out xraytech.com for full details of qualifications, working environments and salaries you may expect.


What is the highest educational level that is required for becoming a singer?

in order for you to become a singer you really dont need a very very high education because the only skill you will need to learn is math that way you could count your profits.


What level of education is required for a job as a shipper?

Shippers usually have little or no extra education. It is not a requirement that you have a college degree to become a shipper.


What is the educational level for a yoga teacher?

No education required, other than accredited certification and training


What eduction is required for most marketing and advertising jobs?

The education level required for most good marketing and advertising management jobs is a Batchelor's Degree. At a lower level many agencies will provide in-house training for new employees with a good basic education.


What education is required to be an optometrist?

Being an optometrist requires a high level of education. After finishing a bachelor's degree, it then requires an advanced degree such as an M.D.