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Actuarial Science

Collabrated with Vishwaroopam Institute Pvt. Ltd.

Actuarial Science

About Actuary

  • “Actuary” means a person qualified to calculate financial and commercial impact and valuation of uncertainty and risk of future events by using advanced techniques and models based on future scenarios under financial, economic, social, demographic, technology and probabilistic situations.

  • Actuaries are experts in assessing the financial impact of uncertain events of future times. They use data science and data anlytics techniques and build financial models to project future risks and uncertainties based on the assumptions on historical trends and future projections. In short, Actuaries make financial sense of the future.

  • Traditionally Actuaries work in the area of Insurance where risk and uncertainty is at highest levels. Within the Insurance domain, Actuaries are involved in product design and pricing, valuation of liabilities and reserves, asset liability management, research and analysis. Actuaries also play key role in the valuation of Pensions, Annuities, Employee Benefits, Social Security, Health Benefits, Government Schemes and Investments.

  • Actuarial skills are becoming relevant for risk management at banks, application of data science and data analytical techniques across the industries, measurement of cyber risks, management and measurement of climate risks and valuation of future assets and liabilities.

  • Across the Globe, actuaries play statutory roles in insurance industry, employee benefits, social security, health benefits, government schemes and valuation of future liabilities. Actuarial skills are valuable for any business that involves long-term financial projects due to their professional rigor combined with their model-based solution for most complex commercial problems.

  • Actuaries balance their role in business management with responsibility for safeguarding the financial interests of the public. The duty of Actuaries to consider the public interest is illustrated by their legal responsibility for protecting the benefits promised by insurance companies, pension schemes and employee benefit schemes. The professions code of conduct demands the highest standards of personal integrity from its members.

    • About ACET

    "Actuarial Common Entrance Test" is applicable to the candidates who plan to enroll as student member of the Institute of Actuaries of India and wish to take actuarial examinations. Eligibility Criteria:- Any candidate studying for

  • Students who have appeared 10+2 or an equivalent examination and waiting for the result.
  • A candidate who have passed 10+2 or any other higher courses/examinations.
  • Diploma.
  • Finance, or any other stream, but you have love for Mathematics and skills in Numeracy.
  • Mathematical Sciences: Maths, Statistics, Econometrics or any other.
  • Engineering.
  • Management.
  • Chartered Accountant, Cost Accountant or a Company Secretary.
    • Note:- ACET result is valid for 3 years from the date of declaration of the exam result for taking student membership of IAI.

    Key Details of ACET:

  • Full Form - Actuarial Common Entrance Test (ACET)
  • Conducted by - Institute of Actuaries of India (IAI)
  • Exam Frequency - 3 times a year (March, June, December)
  • Mode - Remote Online Proctored Test
  • Duration - 3 Hrs
  • No. of Questions - 70
  • Negative Marking - No
  • Eligibility - 10+2 with English & Mathematics/Statistics

    • Course Format

  • Duration - 3 to 4 months (Flexible pace)
  • Class Mode - Online / Offline / Hybrid
  • Frequency - 3–4 days per week
  • Total Hours - Around 100 hours
  • Mock Tests - 5–8 full-length + topic-wise quizzes
  • Materials Provided - AngLo Study Notes + Practice Papers + Online Portal