Actuarial Science Course
Almost everyone is now well-versed in CA, but what exactly is actuary science? Actuarial science utilizes different measurable and numerical strategies to evaluate the quantum of monetary dangers. Probability and statistics are used in actuarial science to examine and resolve financial issues associated with uncertain future events.
In simpler terms, actuarial science is analogous to a weather forecast that predicts the conditions of the weather using mathematics and assumptions. Based on statistics and probability—basically, mathematics—actuaries advise individuals and businesses regarding the risk that investments may face in the future.
Mathematics, probability, statistics, finance, economics, computer science, and other subjects that are somewhat interconnected are all used in actuarial science. In this way, on the off chance that measurements and math have been your strength, you can undoubtedly look for a vocation in actuarial science
Eligibility Criteria (UG & PG) of Actuarial Science
For UG courses
• The examinee probably showed up in 10+2 assessments by the Business/Math stream.
• One of the subjects of the first language must be English.
• Candidates can take this exam at any age, but they must have a minimum of 70% in Maths and a minimum of 60% in 10+2.
• Note that if a candidate passes the exam and then applies for membership, their acceptance would be contingent on the verification of the necessary documents.
PG courses
• Candidates must have earned a B.Sc. or B.Com. degree with a 50% average to enroll in PG courses. However, candidates ought to have Statistics and Mathematics as two of their primary graduation subjects.
Entrance Exams for Actuarial Science
Only the Institute of Actuaries of India (IAI) offers a formal actuarial science course in India. The Actuarial Common Entrance Test (ACET) is IAI's own university-level entrance exam. The ACET is given three times in April, June, and December. There are three stages to the exam: CT, CA, and ST. To obtain IAI-recognized credentials as an actuary, one must pass all three stages.
A candidate is an Associate if they pass 10 exams, and a Fellow of IAI is one who passes 13 exams.
Note that qualified students are required to register for membership before three years have passed following their ACET qualification.
Actuarial Science Online Certificate Course
Listed below are a few of the courses that one can choose to pursue in Online Actuarial Science Certificate Courses,
| Course Name | Provider | Duration | Average Fees |
| Actuarial Science For Non-Actuaries | Udemy | 2.41 hours | INR 1,280 |
| Introduction to Actuarial Science | Australian National University, edX | 8 weeks | Free/ INR 3,557 for a certificate |
| Financial Investment & Risk Management | Peter the Great St. Petersburg Polytechnic University, Coursera | 17 hours | Free Enrolment |
| Diploma in Risk Management | Alison | 10 – 15 hours | Free |
| Business Statistics and Analysis Specialization | RICE, Coursera | 5 months | Free Enrolment |
Scope of Actuarial Science in India and Abroad
The demand for skilled actuaries who are able to predict trends has increased as a result of the expanding Indian economy and the rapid growth of entrepreneurship. Actuarial professionals are in high demand in developed nations. Accredited courses, such as the Chartered Enterprise Risk Actuary (CERA) qualification, can also help actuaries become the best in the international market. Despite the fact that there are only 9000 actuaries among the 1.3 billion people in India, those who aren't interested in settling elsewhere also stand a good chance of finding work there. Even if you're just starting out, actuarial science guarantees you one of the highest-paying jobs.
Skill Required to Pursue Actuarial Science Courses
Some of the basic skill sets required to pursue to excel in this domain are tabulated below for your reference..
| Column1 | Column2 | Column3 |
| Analytical Skills | Problem-Solving Skills | Computer Skills |
| Mathematics and Numeracy Skills | Knowledge of Business and Finance | Communication and Interpersonal Skills |
Scope of Actuarial Science Courses
Any individual with strong knowledge of Mathematics, Statistics, and Finance can seek out jobs in Actuarial Science. The most popular job profiles are as below.
| Column1 | Column2 |
| Job Profile | Average Salary |
| Actuary | INR 6.6 LPA |
| Risk Manager | INR 6.34 LPA |
| Financial Analyst | INR 3.40 LPA |
| Auditor | INR 3.94 LPA |
| Economist | INR 5 LPA |