what do we need to study actuarial science?

Question

i don't have any accounts, economics or business background...will that be a disadvantageif i study actuarial science or do i need only maths?

Answer 1

It depends on what education level you are currently at. If you are in high school, just worry about getting your recommended credits for the specific university you're trying to attend. I find having previous knowledge in the subject before taking the college classes, make things simpler, but are NOT necessary for high school students.

But when you are in college, yes, you most certainly need to take classes to get an understanding of economics, finance, and most programs require accounting. An actuary does analyze the financial consequences of certain risks (whether insurance, property, investments). In fact one of the exams cover Financial Mathematics, and Economics is one of the courses you'll need for VEE credit for the SOA/CAS. If any of this (like the acronyms) is not making sense, you should look at the society of actuaries website to get an understanding of what's required and info about the exam sequence can be found at www.beanactuary.com. It's a sweet website broken down in separate links for college and high school students. Also, it provides links for scholarships, internship, and exam prep. Good luck.

Answer 2

If you do have a very strong math background, then you can start pursuing actuarial career by taking exam 1 of actuary science, which is essentially focused on calculus and statistics. Once you pass the exam 1, you can get an intern job. However, only about 1/3 of brilliant college graduates who took the exam 1 in recent years can pass the exam 1.

Answer 3

You need to understand economics and business. Talk to people at the actuary department, and look up the actuaries society on the internet. They have some very good information about being an actuary.