Overview
Certification in Actuarial Science is a smart career choice, as it opens up a world of opportunity. After clearing the necessary papers in the course you can get absorbed as an actuarial analyst in insurance sectors, banking organizations, financial companies and other related fields. A person certified in Actuarial Science primarily deals with the financial sector. An actuarial professional needs to have good mathematical skills and a knowledge of subjects like statistics, probability, finance, economics and even computer programming.
Eligibility
Should not be less than 18 years of age. Should have passed 10+2 with very good marks in math/statistics. Should be a graduate in math/statistics/econometrics with minimum 55% marks. Or should have done engineering/CA/ICWA/CS or MBA finance. Members of professional bodies like ICAI, ICWAI and IFAI are also eligible.
Duration
Duration of course is not fixed. One has to clear the entrance exam and the 15 prescribed subjects. Any number of subjects can be attempted at a time.
To get admission to the course of Actuarial Science, it is mandatory first to clear ACET. This is a common entrance test which is held twice a year. It is an online exam and the total time duration given to candidates is 3 hours. It consists a total of 70 questions, in which 45 questions are of one mark each, 20 questions of 2 marks each, and five questions of 3 marks each. Then, in terms of sectional distribution, Mathematics is of 30 marks, 30 marks is for Statistics, 15 marks for Data Interpretation, 15 marks for English, and 10 marks are for Logical Reasoning. There is no negative marking in this exam, but one has to score at least 50% in order to clear it and get membership of the Institute of Actuaries of India (IAI).
Subsequently, there is a series of exams to clear in order to become a full-fledged actuary. It includes three stages:
1) Core Technical Stage (CT-Stage), with a total of 9 exams, from CT-1 to CT-8, and then CA-1.
2) Specialist Technical Stage (ST-Stage), which also includes 9 exams from ST-1 to ST-9.
3) Specialist Application stage (SA) which includes 6 exams, from SA-1 to SA-6.
- Dev Arora
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More about the course
For success in this course, you need to have a high degree of aptitude for math and statistics. One needs dedication and single minded devotion towards successful completion of the course within a reasonable timeframe. During the course you will learn making of mathematical models of the events around us. In all, 15 subjects are to be cleared. These subjects cover techniques on mathematics, statistics, finance and economics. The papers are conducted by the Actuarial Society of India (ASI).
As an actuary you will be involved in risk analysis for different areas in insurance. You will be into designing and pricing of policies. Or you will be into annuities, pension rates, taxation or other risk managements and investments.
Exam centres and periodicity of exams
The exams are held twice a year in the month of May/June and October/November. The exams are held all over India in the major cities.
Job prospects
A job as a actuary is very often considered as one of the top paying jobs in most parts of the world. Professionals in this field have almost 100% placement after completion of course. Traditionally actuaries were employed in the insurance sector. But now their importance can be felt in many other sectors like healthcare, pension funds, banking organizations and financial institutions. Life or health insurance, all kinds of insurance companies, whether private or government, employ actuaries in their rolls.
Certification Actuarial Science Admissions for 2025 - 2026 Academic Year
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