Ujwala

Actuarial Science is an application of statistics, computers and mathematics to predict uncertainties and risks, so actuarial science is used in insurance companies, organizations where the calculation of risk is involved, weighing cost and benefit is involved, designing and planning of policies is involved etc. Thus, their work can include designing and determining insurance policies' pricing, establishing the number of liabilities, etc. It is one of the emerging career options and is extremely lucrative on the monetary front. However, it is also considered one of the most challenging careers, with more extended workdays than others on average, and a relatively rigid academic cycle. It can be an excellent career option if you enjoy numbers, statistics, and data analysis.
Becoming an actuary
It is suited for those who love data and numbers and a bent for mathematics, statistics, analysis and logical reasoning. Interested students can take the Actuarial Common Entrance Test (ACET) after class XII.
What is the ACET route?
• Common Entrance exam which is held twice a year June and December
• Eligibility: 10+2/Graduation in specified areas (engineering students or professionals, chartered and cost accountants, company secretaries, management graduates, degree holders in mathematical and statistical sciences etc. are expected to take this exam)
Syllabus of ACET-
1) Mathematics
2) Statistics
3) English
4) Data Interpretation
5) Logic
• There are varied series of tests that are to be taken: CT series, CA series, ST series and SA series. In a total of 14 papers, including ACET, are to be cleared. However, one can start with a job in this sector even after removing four papers.
A student, who clears a total of 10 exams, qualifies as an associate and after passing 13 exams, one qualifies as a fellow of the Institute of Actuaries of India.