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Frudo
02-08-2007, 09:43 PM
Hi. I'm a qualified actuary - ie, I finished absolutely all my exams a couple of years ago.

I studied in Australia, and I've worked in Australia, London and right now, in the US. All countries recognise my Australian qualification fully. They just brought out mutual recognition in the US - I was the first one to use it.

My advice is:

- study in Australia if you can. I got my exemptions at University. Ie, passing exams at University meant I didn't have to pass the same papers through the Institute of Actuaries. I qualified when I was 26. Most actuaries in the US, say, qualify when they are over 30. Is it 'cheating'? Who cares. It is NOT GOOD studying and working at the same time. Try to get it out of the way ASAP.
The universities in the US and UK do not offer this opportunity.

And nobody cares how you got your FIAA (Fellow of the Institute of Actuaries of Australia) or FIA (Fellow of the Institute of Actuaries (UK)) or FCAS (Fellow of the Casualty Actuarial Society). The fact is, once you have them, you can earn well over $150k+. Get there as fast as you can.

- make sure you are smart and hardworking. There is no other way to qualify. I know people who have sat the same exam for the last 9 years.
My class started with 100+people. At the end, the number of people with all the exemptions were probably around 10 (very rough guess). Then, after university, we still need to sit more exams, with a 20% pass rate. These are open book exams in Australia. It's not about memory and rote learning. It's about being smart.

- It's a good job and there's a lot of demand. You can work anywhere in the world and get good money. BUT you could make more money in an investment bank or hedge fund.

Good luck.

DecentMerson
03-08-2007, 09:51 AM
Hi. I'm a qualified actuary - ie, I finished absolutely all my exams a couple of years ago.

I studied in Australia, and I've worked in Australia, London and right now, in the US. All countries recognise my Australian qualification fully. They just brought out mutual recognition in the US - I was the first one to use it.

My advice is:

- study in Australia if you can. I got my exemptions at University. Ie, passing exams at University meant I didn't have to pass the same papers through the Institute of Actuaries. I qualified when I was 26. Most actuaries in the US, say, qualify when they are over 30. Is it 'cheating'? Who cares. It is NOT GOOD studying and working at the same time. Try to get it out of the way ASAP.
The universities in the US and UK do not offer this opportunity.

And nobody cares how you got your FIAA (Fellow of the Institute of Actuaries of Australia) or FIA (Fellow of the Institute of Actuaries (UK)) or FCAS (Fellow of the Casualty Actuarial Society). The fact is, once you have them, you can earn well over $150k+. Get there as fast as you can.

- make sure you are smart and hardworking. There is no other way to qualify. I know people who have sat the same exam for the last 9 years.
My class started with 100+people. At the end, the number of people with all the exemptions were probably around 10 (very rough guess). Then, after university, we still need to sit more exams, with a 20% pass rate. These are open book exams in Australia. It's not about memory and rote learning. It's about being smart.

- It's a good job and there's a lot of demand. You can work anywhere in the world and get good money. BUT you could make more money in an investment bank or hedge fund.

Good luck.

Good for you. It's true that most US actuaries qualify at about 30, but, that's most US actuaries, not international students, especially scholars. Just to back it up with numbers, most of my batchmates and seniors have 3 - 4 exams by the time they graduate. That's about half done... so, qualifying at the age of 25-26 is very achievable too... in fact, i have friends qualifying at 23-24.

Having said that, it's good to have your exam out of the way as soon as possible, but, if you don't have the work experience, you are actually limiting yourself to your first company, because, when you are qualified (achieve your fellowship), you are not cheap to hire, but because of your work experience (or lackthereof), you'll be less desirable... Employers do want actuarial students to pass exam fast, but they don't want exam-belters who knows nothing.

It's definitely true that it's not easy to study and work at the same time, even more so if you are in the actuarial consulting field, which requires more demanding work hours in some time of the year. But, experience from work do help in some exams, and also, while working, you can have your company to pay for your exam fees, study materials and seminars (which can come up to >$1000) for an exam.

I'm fortunate enough that my internship in a good-size company gives me the opportunity to work directly with my manager, and he spends a lot of time developing me, more than any other internship program in other companies... I also have the chance to talk to lead actuaries (1 on 1 meetings) in different lines to learn from their experiences and also talk about available opportunities, and their view on the industry and all.

Also, I'm pretty sure universities in UK do offer exemptions, but it varies by universities. John_doe, who's studying actuarial science in UK... if you are reading this, please post something here.

firebolt
04-09-2007, 05:57 PM
can any jpa scholars in usa who went to usa after 2 years in msia(ADTP) tell me the list of unis jpa approved for act science?
please help. thanks.

capablanca
04-09-2007, 07:17 PM
UPenn, UMIch, Iowa, UIUC, Nebraska-Lincoln, Temple,...

zhen
09-09-2007, 09:17 PM
My math is good and once thought being an actuary also. But it seems that being a recognized actuary is never easy.

I'm form 5 now, most of my friends who decent in math are planned to take actuarial science as major, but they doesn't know how many jobless actuarial graduates around.

My friend's friend have a master degree in Actuarial Science from England, but only passed 3 out of 8 papers, and he is jobless here.

So I'm afraid that there will be more similar cases around, since there are so many willing to study this subject, and hope to get a high paid job.

Sad.

If you not really interested in Actuarial science, counting figures and predict future for a company, can't afford the workload similar to study for ACCA, please don't.

bluez_aspic
09-09-2007, 10:20 PM
If you love mathematics, you would hate actuarial studies.

kintaro_kun
10-09-2007, 11:55 PM
i wonder if any kid here actually knew what actuarial science is. is this another parent-influenced occupation option like medicine, engineer etc?

capablanca
11-09-2007, 04:41 PM
For me, yeah.

shade
11-09-2007, 10:19 PM
Hi, I'm currently doing A-Levels and I'm being sponsored to read actuarial science. I'm inclined to studying in the UK. Just wondering a few things...

Previously, someone posted saying there's a lot of unemployment for actuaries. Is that happening locally or overseas? From what I heard, there aren't much jobs for actuaries locally.

So my main question is, what are the prospects of being an actuary overseas? I'm being sponsored by MARA, which I'm not entitled to a bond and I'm planning to work overseas, preferably in the UK. How good is the pay in comparison to the cost of living? Unemployment rates? I couldn't find much about these essential details. All I got was it's a demanding job but great rewards yada yada yada.

Next question, which is a better path to go; taking a degree in Act Sci or Maths? Both get exemptions for a number of papers by FIA. Should I go with a broader field and do the exams or should I just focus on actuarial science? Any personal experiences to share?

One more. In the UK, is it true that employers value highly graduate s from top unis like Oxbridge, LSE, Warrick etc? Does it also apply for this field? I read somewhere, a survey about LSE's graduates job prospects and there mentioned LSE graduates are in a better position for getting a job (although no specific field is mentioned, assuming finance related) because of its reputation.

digital_lifeform
25-09-2007, 10:45 AM
You dun get employed because of your degree or whatever certs you have. You get employed because of who you are. There are many people out there who are not only working in fields totally unrelated to their major but they are also very successful in their career. In every profession, they will be a number or people holding degrees and master but can't find work. But you cannot live with that idea in mind. Your mindset should be you will succeed because of your passion and ability not because everyone with so and so degree seems to be getting a job.

DecentMerson
25-09-2007, 02:28 PM
My math is good and once thought being an actuary also. But it seems that being a recognized actuary is never easy.

I'm form 5 now, most of my friends who decent in math are planned to take actuarial science as major, but they doesn't know how many jobless actuarial graduates around.

My friend's friend have a master degree in Actuarial Science from England, but only passed 3 out of 8 papers, and he is jobless here.

So I'm afraid that there will be more similar cases around, since there are so many willing to study this subject, and hope to get a high paid job.

Sad.

If you not really interested in Actuarial science, counting figures and predict future for a company, can't afford the workload similar to study for ACCA, please don't.

your friend's problem: passing 3 out of 8 papers... in Malaysia, the entry-level job opportunity for actuarial-related work is rather limited.

and, these entry-level positions are not as well-paid as other 'analysts' position, be it consulting firms or other better-known (big) companies. Hence, there's this huge gap, both in terms of number of positions and paycheck, between actuarial students (refer to actuarial science graduates who are working and still taking exams) and actuaries (qualified actuaries who attain fellowship). And well, hate to say this, but there are much more opportunities for actuarial-related work in the red-dot down South.

being a qualified actuaries do takes a lot. those exams are endless, well, it seems so when u are studying for them, (currently, i'm taking a break from studying for the 4th one). And as the passing score is curved, you are competing with others(working actuarial students and what not - even math professors who are planning to go into actuarial work) to pass the exam. And most of the time, passing percentages are in the high 30s or low 40s. And, as you move on into higher level of exams, the exam candidates are more selective, 'weeded' out by the previous exams. So, do prepare yourself for long hours of self-studying and all.

DecentMerson
25-09-2007, 02:29 PM
If you love mathematics, you would hate actuarial studies.

if you love mathematics, you will love pure mathematics.

if you love seeing mathematics in action (applied in a business settings), you will love actuarial science.

bluez_aspic
25-09-2007, 10:07 PM
if you love seeing mathematics in action (applied in a business settings), you will love actuarial science.
The best thing about actuarial science is the cocktails.

Nothing else.

DecentMerson
26-09-2007, 08:25 AM
if you love seeing mathematics in action (applied in a business settings), you will love actuarial science.
The best thing about actuarial science is the cocktails.

Nothing else.

And i see no problem with that... keep them coming.

Cheers.

Babikia
01-10-2007, 05:42 AM
oh Decent...there you are. I miss you so much.

advice for u, 4th exam is piece of cake. dun waste ur time study so hard lar. come hang out with me we can enjoy lots of cock and tails.

Jei
30-10-2007, 10:49 PM
There are many types of actuarists. Some works as health actuary, some like ...... usually ppl will relate actuarial to insurance field.

The life is unpredictable. So it is not necessary need to be an actuary if you study Actuarial Science. You may find some other things that attracted you. so dont worry about unemployment. If you are one that are motivated and very good, sure ppl will hire you. So be motivated to be the best of the best.

Anythings to ask about Actuarial Science? I will help if i know. At the same time i may learn from you.

schizoid
02-11-2007, 11:40 AM
actually, there aren't any types of actuarists.


only ACTUARIES.

aquamarine7
07-12-2007, 12:16 AM
hi,i have wanted to do actuarial science for ages,since i was in high school.but lately i have been having doubts,not because it's tough or anything but because i have become quite impressed with the idea of pursuing (engineering) lately. i guess i kinda miss chemistry..lol
so is there any way of me crossing between those 2 majors?or at least get a blend of both:)
any reply would be most helpful..thank you

p/s:it seems pretty ridiculous to me too,but i DO need help here

kintaro_kun
08-12-2007, 08:44 PM
i hope msian school students who want to study actuary or any other popular subject know what they're talking about.

FakeAngel
22-03-2008, 12:58 PM
I'm quite suprised to c ppl around claiming they would apply JPA for Ac. Sc.
I came out with this aspiration last year, i think. ANd i'was always told by ppl that IT IS A VERY tough COURSE to go wit, even worse than MEDICINE , which is so popular. In fact, there're ppl kept persuading me to give it up... I know They did it for my own GUD

anyway, I still go ahead... aspired to b an actuary.

The weakest student taking d medicine course after graduating is still so-CALLED Doctor. Act, i Cant realli imagine how tough Ac.Sc is . but, anyway, a sense of Ac.SC is V V V tough is developed in my heart.

perhaps all of us taking Ac.Sc don really understand wat laid in front of us. But I'm sure my main reason of choosing Ac.Sc is not about the high salary.

chiachean
22-03-2008, 04:34 PM
I'm quite suprised to c ppl around claiming they would apply JPA for Ac. Sc.
I came out with this aspiration last year, i think. ANd i'was always told by ppl that IT IS A VERY tough COURSE to go wit, even worse than MEDICINE , which is so popular. In fact, there're ppl kept persuading me to give it up... I know They did it for my own GUD

anyway, I still go ahead... aspired to b an actuary.

The weakest student taking d medicine course after graduating is still so-CALLED Doctor. Act, i Cant realli imagine how tough Ac.Sc is . but, anyway, a sense of Ac.SC is V V V tough is developed in my heart.

perhaps all of us taking Ac.Sc don really understand wat laid in front of us. But I'm sure my main reason of choosing Ac.Sc is not about the high salary.

Nothing in this world is easy. You must work hard for it..

I am sure that taking actuarial studies has a good job prosperity.. Just go for it..

Al-Bert
22-03-2008, 05:42 PM
perhaps all of us taking Ac.Sc don really understand wat laid in front of us. But I'm sure my main reason of choosing Ac.Sc is not about the high salary.

Two comments:

1.) I see my path but i don't know where it leads. Not knowing where i'm going is what inspires me to travel. ~ Rosalia de Castro

2.) Ac. Sc teaches you the way to maximize the profit, revenue or return on investment. If you do not have a really strong passion in earning money, it's going to tough for you to be a good actuary... So, think again! :)

capablanca
22-03-2008, 08:57 PM
Two comments:

1.) I see my path but i don't know where it leads. Not knowing where i'm going is what inspires me to travel. ~ Rosalia de Castro

2.) Ac. Sc teaches you the way to maximize the profit, revenue or return on investment. If you do not have a really strong passion in earning money, it's going to tough for you to be a good actuary... So, think again! :)
Haha, it would be strange if no one has a passion to earn money. In a business, it might be passion that start it off but it will certainly be the prospect of earning money that keeps someone going.

FakeAngel
23-03-2008, 05:18 PM
Haha, it would be strange if no one has a passion to earn money. In a business, it might be passion that start it off but it will certainly be the prospect of earning money that keeps someone going.

haha, yeah, again the money is everything now. it motivates us to go for it and it prevents us frm achieving our goal ( whn $$ is a problem for us to pursue undergraduates studies)

Em , I love add maths. I like maths. I think Ac. Sc is more about econ, statistic n add maths, m i rite?

bluez_aspic
23-03-2008, 05:56 PM
[[edited]]

youngyew
23-03-2008, 06:03 PM
If you really like math, then you should seriously consider taking up Mathematics. Actuarial Science is fairly monotonous, and dare I say, easy, comparatively. There's as much mathematics in there as there is in economics or an engineering course i.e. not much if you're a math geek. I'm not demeaning actuarial science, but my view is that for someone super at math to do actuarial science is a waste of talent.
(Sorry for the digression, but I must add) Even more paltry amount of maths in medicine :cry

If pressure = flow * resistance is considered maths, that is. :(

destroyer
25-03-2008, 09:47 AM
Hey, i'm new in this forum.

do you think i can catch-up my actuarial studies. i've just finish my spm and i apply diploma for actuarial science in UiTM.

my spm result.

A1= bm,bi
A2= sej, pendidikan islam, math
B3= LK,TK, EST
B4= chem
C5= add math, physic

what is your guys opinion?

chiachean
25-03-2008, 09:51 AM
Hey, i'm new in this forum.

do you think i can catch-up my actuarial studies. i've just finish my spm and i apply diploma for actuarial science in UiTM.

my spm result.

A1= bm,bi
A2= sej, pendidikan islam, math
B3= LK,TK, EST
B4= chem
C5= add math, physic

what is your guys opinion?

You apply for UPU?
I would say that you stand a chance to enter UiTM for diploma studies..
What is LK, TK?

destroyer
25-03-2008, 10:00 AM
LK= lukisan kejuruteraan
TK= teknologi kejuruteraan

heh. yeah i put actuarial science as my first choice, but kinda regret becoz of my not so good math basic, might have vary hard tym in my diploma. btw, someone said that i'm not eligible to enter UiTM for diploma in actuarial becoz of my result. Is it true?

vimal06
26-03-2008, 10:38 AM
I am rather worried now if i can actually qualify for the actuarial course myself. My results were 11A1s and 1 A2 for EST excluding my GCEo which got A1 too... Applied for tonnes and tonnes for scholarships for the same course ( ACTUARIAL SCIENCE ).. My cocurricular marks got an average of 8.5 out of ten.. Looking at other students and their great achievements, I feel shunned.. Really hope i can do this course under a scholarship..

destroyer
26-03-2008, 11:51 AM
I think you can get it. Do you apply for BNM or Khazanah?

huhu. i'm just hoping to get a placement for diploma course.

GuoSheng
26-03-2008, 01:29 PM
I am rather worried now if i can actually qualify for the actuarial course myself. My results were 11A1s and 1 A2 for EST excluding my GCEo which got A1 too... Applied for tonnes and tonnes for scholarships for the same course ( ACTUARIAL SCIENCE ).. My cocurricular marks got an average of 8.5 out of ten.. Looking at other students and their great achievements, I feel shunned.. Really hope i can do this course under a scholarship..

same gang....but who knows, we might meet each other...lol..all the best.
________
TINY TITS LIVE (http://www.girlcamfriend.com/webcam/small-tits/)

chiachean
26-03-2008, 01:39 PM
All the potential scholars are here..

*Running away*

Seiryu
26-03-2008, 01:57 PM
If you really like math, then you should seriously consider taking up Mathematics. Actuarial Science is fairly monotonous, and dare I say, easy, comparatively. There's as much mathematics in there as there is in economics or an engineering course i.e. not much if you're a math geek. I'm not demeaning actuarial science, but my view is that for someone super at math to do actuarial science is a waste of talent.

Erm, are you an actuarial science major?

Maybe this varies among universities, but to me, actuarial science deals with a lot of pure math. I get a feeling that in comparison with engineering (and maybe medicine), for the other courses in a semester you may have a mix of physics, chemistry, bio etc with a lot of math is embedded inside these courses. That's different for Actuarial science. For actuarial science majors in a semester you can easily find yourself doing pure probability, theoretical statistics, abstract algebra etc which are courses that are purely, only, devoted to mathematics. You may not be doing so much of abstract math as compared to pure math students, but you will definitely be dealing with a lot of the "probability and statistics" side of maths, which are also sections of pure mathematics. So for someone super at math to do actuarial science, is not a waste of talent at all, given that he also loves the world of risk and insurance and... money.

There has to be a reason why some universities decide to put actuarial science under the mathematics department instead of business.

Sillyboy
26-03-2008, 03:00 PM
I'm a math major, and what I wanted to emphasize was that the application of mathematics in the actuarial science context is different to the study of mathematics. Sure, you learn your fair share of mathematical tools but ultimately actuarial science students are groomed to be professional actuaries - whereas the sort of training which math students receive in logical rigour is just entirely on another level. My view is that brilliant math students should seriously consider the prospect of going into mathematical research - or research, in general - instead of being a professional actuary, where the day-to-day practice of it is comparatively less challenging, less colourful and less mathematical.

Math Honours/PHD graduates are quick to be snapped up by financial firms, so it's not as if actuaries are the only ones making big money. I've heard of people who defected from their Statistics PHD candidacy for actuarial science as well - so studying Mathematics also provides more options and greater flexibility.

To become a professional actuary is not easy anyway.

And you could end up hating Math too :P

But it is maddening to hear people touting that a student should become a professional actuary just because he happens to be good at math - as if it's some sort of equation which has been perversely fossilized in Asian prejudices. It should be mathematics - or any course which requires a high degree of analytical thinking, leading on to research.


btw the auto-spellcheck function has an American bias, I just realized :P

Looking at this, I felt glad to have chosen Math as my undergraduate study instead of Actuarial Science. It also dispel the notion that Math graduates could only work in the education sector. I have friends, relatives and teachers alike advising me to do something else for fear of ending being a teacher 'only', which is so tiresome.

destroyer
26-03-2008, 03:14 PM
Looking at this, I felt glad to have chosen Math as my undergraduate study instead of Actuarial Science. It also dispel the notion that Math graduates could only work in the education sector. I have friends, relatives and teachers alike advising me to do something else for fear of ending being a teacher 'only', which is so tiresome.

haha. actually, i have a teacher in my school holding degree for actuarial science. end up being a teacher. Btw, just take math major the take the SOA exam. You could be an actuaries too.

ronaldo7
26-03-2008, 03:16 PM
why does people always say that mathematics is a.s??haigh..i know it mayb similar but not totally da same,rite?

tyro
26-03-2008, 03:27 PM
why does people always say that mathematics is a.s??haigh..i know it mayb similar but not totally da same,rite?

not totally the same...but an actuarial science major studies like 90% math and 10% econs...

Seiryu
26-03-2008, 03:30 PM
I'm a math major, and what I wanted to emphasize was that the application of mathematics in the actuarial science context is different to the study of mathematics. Sure, you learn your fair share of mathematical tools but ultimately actuarial science students are groomed to be professional actuaries - whereas the sort of training which math students receive in logical rigour is just entirely on another level. My view is that brilliant math students should seriously consider the prospect of going into mathematical research - or research, in general - instead of being a professional actuary, where the day-to-day practice of it is comparatively less challenging, less colourful and less mathematical.

Math Honours/PHD graduates are quick to be snapped up by financial firms, so it's not as if actuaries are the only ones making big money. I've heard of people who defected from their Statistics PHD candidacy for actuarial science as well - so studying Mathematics also provides more options and greater flexibility.

(but there are also actuarial science students who defect to mathematics too :D - rare breed though)

To become a professional actuary is not easy anyway.

And Math students could end up hating Math too :P

But it is maddening to hear people touting that a student should become a professional actuary just because he happens to be good at math - as if it's some sort of equation which has been perversely fossilized in Asian prejudices. It should be mathematics - or any course which requires a high degree of analytical thinking, leading on to research.

The way my university does it is that the mathematical training for actuarial science students are outsourced to the Math department for the first 2 years. The remainder of it under the Commerce faculty resembles an Engineering course - you know, magical formulas and equations with the prospect of application in mind. Which half the time translates to meaningless number plugging.


btw the auto-spellcheck function has an American bias, I just realized :P

While I agree that mathematical research provides a "colorful" challenge to brilliant mathematics students, actuarial science doesn't, in any way, portray a less colorful, less mathematical, or less challenging dimension to these math geniuses. If mathematical research is your reason why brilliant math students should venture into mathematics, then actuarial science majors could also, with no restriction, choose to further on his research that further brings mathematical benefit to the world of risk, insurance, finance and business. This differs from a mathematics major, in the sense that such research has even heavier, stronger and solid application sense. This also portrays a more colorful challenge in the sense that, compared to math majors, he or she now needs to use what he has learned from his pure mathematical side of knowledge, and commerce, economics, and business side of knowledge to further his research. My university places actuarial majors in mathematics department all the way till the end of graduation, and name the course actuarial mathematics . Go figure!

My view is that while it is absurd to just brand a student an actuary just because he or she is good in mathematics, it is also unnecessary to equate this side of equation with "mathematics" research on the other end. I feel that, if a person is a maths genius and he has passion for money side of things, venturing into actuarial science is something that shouldn't be "under-advocated" compared to mathematics, as how you had put it.

Al-Bert
26-03-2008, 04:03 PM
Perhaps actuarial science is less mathematical but i didn't really get the idea why it is less colourful and less challenging compare to mathematical research....

My opinion is as long as you love statistic, probability, economic, business, commerce, financial related stuff, risk-taking and predicting, then actuarial science will definitely be something really interesting for you....

ronaldo7
27-03-2008, 09:30 AM
how many scholarships in malaysia offer the discipline-actuarial science???is the demand of actuaries high in malaysia?as i knw there are just a few certified acturies in malaysia.

Sillyboy
27-03-2008, 12:46 PM
how many scholarships in malaysia offer the discipline-actuarial science???is the demand of actuaries high in malaysia?as i knw there are just a few certified acturies in malaysia.

The demand is not high at all!! I have an Actuary uncle and he told me Malaysia is too saturated with Actuarial Science graduates.

ronaldo7
27-03-2008, 12:54 PM
The demand is not high at all!! I have an Actuary uncle and he told me Malaysia is too saturated with Actuarial Science graduates.

oh...sounds that u are not encouraging people to take up this discipline..but then is it malaysia is too saturated with actuaries??and most of them dont work for the government,is it?

capablanca
27-03-2008, 02:52 PM
No, I think it is the lack of companies here that is holding back the demand for actuaries. Other than that, most actuarial science graduate simply never complete all the exams.

destroyer
27-03-2008, 03:22 PM
i think because most company in Malaysia r focusing too much in the SOA exam. they only want to employ fully qualified actuaries. they dun care much about how much is the cost for each exam. to complete all the exam can take up to 10 years. thats why many of actuarial grads working in a not actuarial related job for example teacher, they'll stay with the job till pension.

what i'm trying to say is that company should take those fresh grad as a Actuarial Trainee. by that method, they can train a good actuaries and helping them with their exam. becoz, mainly students stop taking exam because of financial problem.

capablanca
27-03-2008, 04:09 PM
i think because most company in Malaysia r focusing too much in the SOA exam. they only want to employ fully qualified actuaries. they dun care much about how much is the cost for each exam. to complete all the exam can take up to 10 years. thats why many of actuarial grads working in a not actuarial related job for example teacher, they'll stay with the job till pension.

what i'm trying to say is that company should take those fresh grad as a Actuarial Trainee. by that method, they can train a good actuaries and helping them with their exam. becoz, mainly students stop taking exam because of financial problem.
Really? As far as I know, some companies hires trainee once they completed 2 or 3 papers and let them continue their studies while working.

Sillyboy
28-03-2008, 01:16 AM
oh...sounds that u are not encouraging people to take up this discipline..but then is it malaysia is too saturated with actuaries??and most of them dont work for the government,is it?

My post meant nothing of what you suggested. If you have an apt for actuarial science, go ahead by all means. That was just to provide a reality check for potential actuaries. Who knows, there might be changes in the future.

bluez_aspic
28-03-2008, 08:43 AM
Yeah, capablanca is right - last I checked there were only about 30-40 actuaries, and the demand is not high because Malaysia's industry is still fairly small. Most people end up working overseas.

Not everyone who takes up an actuarial science degree ends up as a professional actuary either, since professional exams are designed to cull most of them. It's actually not uncommon for an actuarial science grad to end up in admin, or something different altogether.


Re: Seiryu

Well, we diverge on this and I'm fine with that.

My point is that actuarial science is mainly pre-occupied with the application of mathematical techniques rather than the mathematics itself, in the same vein as engineering or economics (at least at the undergrad level). This is because their primary aim is something different altogether. And I respect that - everyone has different motivations; but if you jump into these courses with the intention of learning math, it's unlikely you'd be happy.

There's a good number of International Mathematical Olympiad participants picking up something else instead - say, medicine or computer engineering (there's actually one who is taking up a actuarial science/math combination at my department, come to think of it). It's no longer mathematics but there's just too much that is interesting and fun in life - if you deem yourself to be a geek, then the option of taking up a Math degree shouldn't be shed so easily.

Seiryu
28-03-2008, 09:54 AM
Well if a person has extreme passion for theoretical mathematics and not much of interest in the world of commerce, actuary still isn't quite a right path for him... Mathematics, on the other hand, should be his choice.

sakuraf4
01-04-2008, 01:09 PM
err hi...i just finish my spm and i'm thinking of taking actuarial science after this....so i want to know which overseas university that i should consider if i want to take this courses..which university is the best for actuarial science?uk,us or australia?thx~

fire-ablazed
05-04-2008, 10:23 PM
There's actually no so-called BEST university for Actuarial Science. There are many divided views on the type of education you receive from each country. Some prefer US because it is more liberal there with out-of-the-class activities while in UK, it's just academic studying. As for Australia, they said it's just like MAlaysia, only the environment is different.

In US I am not sure which unis are the better ones for Actuarial Studies.

UK it is said that London School of Economics and Political Sciences (LSE) is a good uni for Actuarial Science. Of course, there are others like Southhampton, Warwick etc.

Australia there's Melbourne Uni, Australian National University (ANU), Macquarie university and University of New South Wales (UNSW).

To get more info about the institutions approved by the Actuary society of Malaysia, do check out http://www.actuaries.org.my/default.asp

It is a very useful website. =)

digital_lifeform
06-04-2008, 02:33 PM
I believe to judge which is the best university for actuarial Science would highly depends and what you expect out of a university. Do you view going to a university as a path for you to get some kind of training that prepares you fully for a job as an actuary? Or do you view going to a university as a time where you learn alot of stuff which enables you to adapt to any working situation later?

As far as I know, as far as theoretical knowledge is concerned, it doesn't matter which university you go to. In fact even if you buy a box of books to read them at home, you'd pass the exams and have sufficient knowledge to carry out your job. Then it comes down to practical experience.

I have two friend in London, one studied in City and is now an actuary in a big investment company there and another is taking Economics in LSE. From what they tell me, education is class is superb. The lecturers really know how to teach and are not a bunch or weirdo professors who only speak what they understand. Basically from day one their course are all geared toward the actuarial profession. They have about 4-5 subjects per year and probably will take a higher level of the subject the following year. They do not take anything unrelated to their course at all.

Compared to other Universities, LSE and City is very well established and have alot of connections with top invesment companies. So it was fairly easy for them to obtain internship. My friend at City got attached to a big investment company there as an actuary trainee with a starting salary of more than 2000 pounds. The other friend at LSE comes back to Malaysia every year for internship in a very big financial company. So in this sense, big unis in UK certainly have an advantage.

I'm bound to US but I'm not really sure how the system there goes. As far as I know, I've got to take many many unrelated subject which I'm loving. There also seems to be alot of opportunity in real estate in US. However, I have not heard anything regarding other forms of investment and risk management in US.

starlemon
10-04-2008, 02:16 PM
For me, hmmm...i think actuaries love what they do. Their work is intellectually challenging and they are very well-paid. Actuaries are key players in the management team of the companies that employ them. In a fast-changing world, with new risks and the need for ever-more creative ways to tackle them, there are constant opportunities for personal and professional growth in an actuarial career, and the pleasure of life-long learning. Most actuaries work in a pleasant environment, alongside other professionals, and enjoy the respect of their peers.
But nowadays malaysia lack of Actuaries, that is why malaysia gov need to take steps to recruit and cultivate all-rounded actuaries!If not we will be lagging behind as actuaries contribute greatly to our economics development!

bernardseah
11-04-2008, 10:12 PM
Hi people..I just got admitted into University of Michigan-Ann Arbor and University of Illinois-Urbana Champaign. Am still waiting for the decision of University of Wisconsin-Madison. But I don't really want to go to University of Michigan because there are already a lot of Malaysians there and there are more than 10 people from INTI who will be going there too this August. My first choice is University of Wisconsin-Madison. But I don't really know if University of Wisconsin-Madison is the right choice. Any advice? Anyone from Wisconsin-Madison?

capablanca
11-04-2008, 10:31 PM
Bernard, join the Malaysians...Assimilate with them...You will be one of us...Muahahahaha

fire-ablazed
13-04-2008, 11:01 PM
HEy. Can I know if it's possible to pursue a degree in say, business and commerce or business economics or something similar in MAlaysian private unis like Monash and Nottingham and still be able to take the actuarial exams while studying?

This is what happens when there is lack of funds...

Seiryu
13-04-2008, 11:43 PM
HEy. Can I know if it's possible to pursue a degree in say, business and commerce or business economics or something similar in MAlaysian private unis like Monash and Nottingham and still be able to take the actuarial exams while studying?

This is what happens when there is lack of funds...

You can do that but it will require you a lot of hard work to pass the examinations. (I am speaking this from an SOA's point of view.) Take for example, for the Probability Paper itself, because you have not gone through classes that offer that field of knowledge, you will have to study really hard to compete with those who have done the otherwise. The first four papers are pure mathematics so if you are that kind of person who enjoys mathematics even by studying on your own, and if you are very hardworking, you can certainly do this.

It's not totally impossible, but given that you already have so much workload to do in a private university, you must expect a challenging road ahead if you are adamant to do actuarial science..


Hi people..I just got admitted into University of Michigan-Ann Arbor and University of Illinois-Urbana Champaign. Am still waiting for the decision of University of Wisconsin-Madison. But I don't really want to go to University of Michigan because there are already a lot of Malaysians there and there are more than 10 people from INTI who will be going there too this August. My first choice is University of Wisconsin-Madison. But I don't really know if University of Wisconsin-Madison is the right choice. Any advice? Anyone from Wisconsin-Madison?

All three universities that admitted, or are about to admit you (bah... if University of Michigan takes you so will University of Wisconsin) have excellent actuarial programs. So academically you shouldn't worry so much.

BUT if having a lot of Malaysian is your concern, let me assure you that all three universities that you applied to, is famous for having lots and lots and lots of Malaysian.

Welcome to the Kampung Malaysia of (either) University of Michigan, University of Wisconsin, or University of Illinois UC. =D

VivQ
15-04-2008, 04:44 PM
Hi.. i am an ACCA holder and would like to take the challenge and venture into Actuarial Science.. Any recommendation on what steps to take to achieve that?

Currently, applying to take masters in Actuary Studies in UNSW and still waiting to hear from the Uni on my application.. If I do get offered, wonder where should I start in terms of preparing towards it, eg, books to read and etc...?

Thanks. :)

chocopalooza
23-04-2008, 04:44 AM
In University of Wisconsin-Madison, u can get a degree in BBA (business administration) for Act Sci, if u managed to get into the business school.
And if u not, then u can still get ur degree in B.Sc Actuarial Science. So, simply say, there are two paths that u can choose to get ur degree in Act Sci; either with business administration or in actuarial mathematics.That's basically why it is better to choose UW-Madison as ur first choice.
And just so u know, UW-Madison are high in ranking(but still UMich is higher),
so the courses here are pretty hard and it can be a little bit upsetting when u weren't accepted into the Business School( you can check on the UW-Madison's website, about the statistics and everything, so that u can get a general view about this university.try to check school of business page to view the requirements for Act.sci)

for me, this is a great and cool university~
(i got UoI too, but that university really is 'Malaysian'ized. They have like hundreds of malaysian there.so i chose UW-Madison):)
ps-We have around 40 malaysians here

Seiryu
26-04-2008, 10:43 AM
Hi.. i am an ACCA holder and would like to take the challenge and venture into Actuarial Science.. Any recommendation on what steps to take to achieve that?

Currently, applying to take masters in Actuary Studies in UNSW and still waiting to hear from the Uni on my application.. If I do get offered, wonder where should I start in terms of preparing towards it, eg, books to read and etc...?

Thanks. :)

Let see... I'm speaking this from SOA's point of view, there are other actuarial boards which give different papers... Are you going to do a self study? If so, you might want to get a study manual. They can be gotten from ebay. You can hunt for the required/ recommended texts from SOA's website and do some book shopping. =)

The next exam for paper P/1 (the first paper) is in June while second paper is in December. All the best! =D

destroyer
05-05-2008, 12:00 AM
I've got offer for actuarial science diploma program from UiTM.

wanna ask.

beside being an actuaries, what other job can actuarial science grads do? assume that i've already get the degree with 1 or 2 professional paper from SOA.

sorry. i really2 have no idea about what can actuarial science student can do beside being an actuaries.

should i reject the offer and go for matriculation?

PS: those forumer who were very good in math, can you also post some tips to help understanding math easier during teaching/in class.

Thanx in advance.

smile!
11-05-2008, 11:28 AM
hey seniors...
i would like to ask for help for more understanding about actuarial science.. izit very very hard to pass the exams and graduate?

youngyew
11-05-2008, 12:36 PM
Just merged a new actuarial science thread here.

(Make sure that you really MEAN IT when you tick "yes i have searched the forum but i still want to make a new thread" box! There are like at least five existing threads with the name "actuarial science" here)

lsy
09-06-2008, 10:58 AM
I've got offer for actuarial science diploma program from UiTM

PS: those forumer who were very good in math, can you also post some tips to help understanding math easier during teaching/in class.

Thanx in advance.

To master in math, u have to do LOTS of exercises..not merely memorising formulas...remember, there's always a saying, ''Practice makes perfect'':))

A friend of mine applied for actuarial sc in UM and UKM as her 1st and 2nd choice respectively..and her stpm cgpa is only like 3.83..she also gt an offer to do biz admin in nus..she's torned btween nus and IPTA(app outcome to be release next week)..does she stands a high chance to get actuarial sc in IPTA?--based on de UM and UKM'S record(previous years),they only accept students with cgpa 3.92-4.00...

Smilehoe
09-06-2008, 11:58 PM
To master in math, u have to do LOTS of exercises..not merely memorising formulas...remember, there's always a saying, ''Practice makes perfect'':))

A friend of mine applied for actuarial sc in UM and UKM as her 1st and 2nd choice respectively..and her stpm cgpa is only like 3.83..she also gt an offer to do biz admin in nus..she's torned btween nus and IPTA(app outcome to be release next week)..does she stands a high chance to get actuarial sc in IPTA?--based on de UM and UKM'S record(previous years),they only accept students with cgpa 3.92-4.00...

About learning maths, there certainly are plenty of smart people here to offer advice (excluding me), different people have different learning styles, so you should start by identifying your learning process. Most of the time, understanding is cardinal. Whenever you are introduced to new concepts, besides memorizing, test the idea rigorously as to ensure under which conditions the theorems hold. That will prepare you well for exam. Of course, you still need plenty of exercises to be fast especially for actuarial papers.

Yea, you're right, for AY 07/08 those that I know from UM have cpga of 3.92 and above. But exceptions do happen. If your friend need any details about UM actuarial, I'd be pleased to help.

HiddenEyes
14-06-2008, 09:16 PM
I've got offer for actuarial science diploma program from UiTM.

wanna ask.

beside being an actuaries, what other job can actuarial science grads do? assume that i've already get the degree with 1 or 2 professional paper from SOA.

sorry. i really2 have no idea about what can actuarial science student can do beside being an actuaries.

should i reject the offer and go for matriculation?

PS: those forumer who were very good in math, can you also post some tips to help understanding math easier during teaching/in class.

Thanx in advance.
Actuaries can work in the field of insurance, banking investment. You can also open your own firm.
=)
Make sure you really want to do actuarial science if you choose to do the diploma program.It's really a lot of maths.

kaichew
27-06-2008, 01:55 PM
nothing... jz spamming around

smile!
27-06-2008, 04:02 PM
hi seniors.. i would like to ask a graduate with actuarial science degree can work in the finance department for bank? can they get into jobs like management also? pls do share your views or opinions here.. thanks!

vincent90
30-06-2008, 02:35 AM
Is there master programme for actuarial science? Or we juz need to pass 8 professional papers to become an actuary?

Smilehoe
30-06-2008, 08:31 AM
There are master programmes around. Kent and Michigan are offering. However, I haven't heard of one locally. Perhaps there are, someone care to enlighten me? As far as I know, Utar, UKM and UM don't offer master in actuarial. Usually doing masters will get you exempted from more papers. But it depends on yourself, you'll be clear by the time you have your degree. If you are thinking about the tutoring and guidance needed, no worries, it's not that necessary. There are many people who managed fellowship by self studying after degree. Online discussion, your company and societies will provide help.

tonez_2103
09-07-2008, 09:21 PM
just consider actuarial scienc is easy man , if u think it's that hard , it's gonna be very hard for u...as i'm also an actuarial science student , just think or assume that it's easy ....among the 8 ivy league university , is it only uPENN offer degree in actuarial science ? as i can't found any other information about the other 7 ..

firebolt
11-07-2008, 11:26 AM
yes among the 8 Ivies...only U Penn offers actuarial science. so imagine every actuarial science-major student applying to an Ivy, which accepts only an extremely small percentage of applicants every year.

aisyah
31-07-2008, 05:27 PM
There are master programmes around. Kent and Michigan are offering. However, I haven't heard of one locally. Perhaps there are, someone care to enlighten me? As far as I know, Utar, UKM and UM don't offer master in actuarial. Usually doing masters will get you exempted from more papers. But it depends on yourself, you'll be clear by the time you have your degree. If you are thinking about the tutoring and guidance needed, no worries, it's not that necessary. There are many people who managed fellowship by self studying after degree. Online discussion, your company and societies will provide help.
there is no local universities that offer master in actuarial sc...YET.
~~~~~~~~
but as for me, i have my diploma & degree in actuarial sc from uitm, shah alam..
n now.. going to city uni, london..further studies in master level.. where it consists of 8 profesional papers from institute of actuaries..and a coursework for the third term..
;-)

noob90
28-09-2008, 01:54 PM
erm.. i have a question to ask.

drake university or university of illinois urbana champaign better for actuarial science?

aha!
18-10-2008, 09:38 PM
Urm..
Both have equally good Actuarial Science program..
But,
Since Drake is a private Uni, it will be easier to get into Drake if compared to UIUC..
And,
Attending Drake will be cheaper since u can easily get scholarship from Drake.. =)

kaichew
19-10-2008, 05:15 AM
Where can we do VEE Corporate Finance in Malaysia?

Smilehoe
19-10-2008, 08:48 AM
Only UTAR's programme is recognized.
link (http://www.soa.org/files/pdf/edu-vee-dir-approved-courses.pdf)

UM is in the process of applying. Keeping our fingers crossed =)

kaichew
25-10-2008, 06:42 PM
Actually, I'm an actuarial student at UKM. There are only the Statistical Method and Economics, approved. Can I apply for the Corporate Finance course at UTAR? If can, what are the requirements? Thanks.

http://kafechew.com (http://kaichew.co.cc/)

noob90
27-10-2008, 12:49 PM
Urm..
Both have equally good Actuarial Science program..
But,
Since Drake is a private Uni, it will be easier to get into Drake if compared to UIUC..
And,
Attending Drake will be cheaper since u can easily get scholarship from Drake.. =)

thx for the reply,
actually i already secured a MARA scholarship, for now im a bit confused on which university i should apply, there are 3 universities in my mind rite now, univerisity illinois urbana champaign, university of wisconsin madison or drake university..and also michigan ann arbor but my sat mark, i think would not be enuf for michigan ann arbor. my sat marks are 700 for math and 550 for CR. so which university would be the best choice? and i want a universities which could offer me a better chance to secure internship and job after completing my degree. i plan to continue working in US while completing the remaining actuary exam since i do not have bond after finish study. Thx

tiffany
09-12-2008, 11:47 AM
how to apply through JPA for actuarial science?
must my parent's pay be lower than RM 1500?
can i choose to study in any uni?
what subjects must i take for A-levels?

HiddenEyes
20-12-2008, 01:34 PM
I'm quite suprised to c ppl around claiming they would apply JPA for Ac. Sc.




Yeah.. there are plenty of people applying for that. I think, in a few years time , the work market would be saturated with act. science graduate. I mean in Malaysia.


how to apply through JPA for actuarial science?
must my parent's pay be lower than RM 1500?
can i choose to study in any uni?
what subjects must i take for A-levels?

You mean the scholarship for local studies or overseas? For overseas, no , you can't choose to study at any uni. There are specific uni depending on the country you are send to . You doing A-level now? More of maths related and stats.Check out the LSE undergraduate prospectus as a guide.

wet95
08-01-2009, 05:54 PM
hye there....I hope someone can help me here...im crrntly doing my A lvel...i got offers from lse and city unversty.....city wanted 3A...lse wanted 3A including frther maths....the problem here is....which u should be the firm one????lse or city???of course lse is more prestigious....However, is it true that city is better 4 actuarial scnce???please help me...the confrmation date is gettng nearer......tngkiu

nooodles
01-03-2009, 11:06 PM
Hi! I'm studying for my A Levels right now. Is Mathematics, Further Mathematics and Economics a good combination if I'm planning to pursue a career in actuarial science?

Smilehoe
01-03-2009, 11:53 PM
Hi! I'm studying for my A Levels right now. Is Mathematics, Further Mathematics and Economics a good combination if I'm planning to pursue a career in actuarial science?

Mathematics and Economics are better related to act. sc. Further maths is more to pure maths. Ac. Sc is based mainly on statistics, probability and applied maths. No point putting effort into subjects which bears little relevance to your choice of career unless you're interested in it.

Lets do a breakdown on the chapters of further maths syllabus syllabus (http://www.mpm.edu.my/download.php?FilePoolID=119).
1. Logic and proofs, and matrices will be covered in detail in university courses which most probably are compulsory. (Rare direct usage in the preliminary external papers)

2. Complex numbers, number theory, graph theory, geometric transformation and coordinate geometry are even distant. (Haven't came across any questions requiring those skills)

3. Functions, differential equations, sampling and estimation, hypothesis testing, chi-square, and regression analysis are required. (Prior knowledge would be helpful but I don't think it's a sufficient enough justification for taking the subject. As many students without further maths do equally well in them.)

*I'm writing as a student from Uni Malaya which have never taken SAT. Perhaps you can seek advice from Seiryu and Capablanca.

capablanca
02-03-2009, 03:44 AM
Well, for A-level, it won't matter so much because you would need to relearn all the topics anyway. As far as I see, you should take mathematics with statistic elective. Further mathematics might enhance your qualitative skills but they're not necessary. Economics also might not be necessary here. Truthfully, the syllabus for actuarial science is of a higher level compared to a level. It might be better for you to take college level course to prepare for it. In fact, aside from the mathematics course, you can pick whatever options you want, you'll turn out fine.

IIIvy
17-04-2009, 12:46 AM
If I study commerce in form 6, can I take actuarial science after that?

Eurytos
17-04-2009, 01:54 AM
Mathematics and Economics are better related to act. sc. Further maths is more to pure maths. Ac. Sc is based mainly on statistics, probability and applied maths. No point putting effort into subjects which bears little relevance to your choice of career unless you're interested in it.

Lets do a breakdown on the chapters of further maths syllabus syllabus (http://www.mpm.edu.my/download.php?FilePoolID=119).
1. Logic and proofs, and matrices will be covered in detail in university courses which most probably are compulsory. (Rare direct usage in the preliminary external papers)

2. Complex numbers, number theory, graph theory, geometric transformation and coordinate geometry are even distant. (Haven't came across any questions requiring those skills)

3. Functions, differential equations, sampling and estimation, hypothesis testing, chi-square, and regression analysis are required. (Prior knowledge would be helpful but I don't think it's a sufficient enough justification for taking the subject. As many students without further maths do equally well in them.)

*I'm writing as a student from Uni Malaya which have never taken SAT. Perhaps you can seek advice from Seiryu and Capablanca.

Actuarial science is a course that uses mathematical methods to assess risk and involves a lot of probabilities and statistics. For example, actuarial science in Nanyang Technological University singapore requires you to study in the business school where the first 2 years will be focused on business studies rather than the mathematics. After 2 years of studies, then you choose to major in actuarial science and dwell deeper into the course.

Referring to the post from Smilehoe, i would say that further mathematics from A levels would be a great help if you want to pursue act. science as a career. Chapters such as chi-square testing, hypothesis testing and regression and correlation are very much required in act. science. It wouldn't be a waste of time to do further maths as there is apparently a significant amount of relevance between further maths and act. science. Studying 4 out of 16 chapters that are relevant to act. science is a great help, not mentioning the other chapters that would help you too.

Oh yeah, one more thing i think is worth mentioning. Though there seems to be quite an amoount of people taking act. science, most of them don't finish their exams after they graduate and don't qualify as certified actuarists yet. If you really want to take up the course, do finish the exams so that you stand out from the rest.

Smilehoe
17-04-2009, 03:09 AM
Hey Eurytos, didn't know that you are taking NTU's actuarial course.:)

You have a point there that having learnt those statistics courses help in actuarial science. I'll make a clarification, of the statistics topics included in further maths which are sampling and estimation, hypothesis testing, chi-square, and regression analysis. Only chi-sq is needed for exam P/1. None needed for exam FM/2. And for MFE/3, none needed again. Though MLC/3 probably requires sampling, estimation, hypothesis testing and chi-sq.

To dedicate 1.5 years worth of time studying for a few chapters which would only be needed in the third paper onwards, is in my opinion, not a good investment. Consider the risk of taking further maths, not getting an A for it hurts your chances of securing a place in local uni. I could safely say that a 3.9 with further maths <= a 4.0 without it.

To be fair, there's a plus point for further maths though if you plan to study in Australia or Singapore. The first paper involves sampling, estimation, hypothesis testing and chi-sq. I think Eurytos may be commenting from a Singapore actuarial course standpoint

In short,
For local Uni, I seriously don't encourage taking further maths.
For Aussie and Singapore, perhaps someone might be able to elaborate more.

IIIvy
17-04-2009, 09:59 AM
HII.... can someone tell me if i can study actuarial science after taking commerce form 6?

kaichew
24-04-2009, 12:12 PM
HII.... can someone tell me if i can study actuarial science after taking commerce form 6?

Depends where do you go...
If private... sure... you can study actuarial science
If government ... sorry ... your chance is very low
In UKM 2008/2009 batch ... no commerce but only 3 account (matric)

Here is the statistics of UKM Act Sc 2008/2009:

Statistics (http://actuary.kafechew.com/index.php?option=com_docman&task=doc_view&gid=9&tmpl=component&format=raw&Itemid=53)

almost 4.00 & from science stream...

Abbie
10-05-2009, 01:38 AM
I feel interest to acturial science. My brother suggest me to study this course in UTAR. But my friend said study oversea is better because acturial science is a new course in Malaysia.
Can give me some suggestions bout the quality of acturial science in UTAR? Is it i hv to study oversea? (But i hv financial problem)
TQ!

ponyo
12-05-2009, 02:57 PM
*edited*

I'm going to UM soon to do Asasi Sains Fizikal. Think that can lead me to study actuarial science later?

DaRkiezz
12-05-2009, 03:19 PM
I feel interest to acturial science. My brother suggest me to study this course in UTAR. But my friend said study oversea is better because acturial science is a new course in Malaysia.
Can give me some suggestions bout the quality of acturial science in UTAR? Is it i hv to study oversea? (But i hv financial problem)
TQ!
Im going to UTAR for actuarial science. In fact there are students holding 4professional papers passed while still pursueing their degree(3rd year). With this kinda results, I don't think its really bad. If you are good enough, maybe u can even try to break into 5 or 6papers LOL...

BGT
07-06-2009, 12:56 AM
Refering to Smilehoe's post, I hope I didnt get this wrong when u mentioned that you seriously think that it is not necessary to do Further Maths if you want to act.sciene in local uni. May I say that an A-Levels student cant even enter public uni, whats the point of advising them whether to do or not to do FM in A-Levels..

And, to the lucky person who got offer from LSE and City, I hope that you have actually put down LSE as your firm and City as your Insurance choice. Believe me or not, You can still enter City if you do not meet the offer of 3A, but this is not the case with LSE. As simple as that. For a person who wants to major in statistical course next time, you should have thought about how to maximise your chances in getting into these uni, if you do not make the other one.

But City's act science's teaching quality is better than LSE. Many ppl chose to go LSE mainly because of her international reputation which you can hardly ignore, when it comes to picking a uni to study.

Lastly, Further Maths is v.v.v.v.v.v. important. I dont knw how the cotent of modules of actuarial science in UM looks like, but in UK, be it act.science in LSE, City or other uni, FM is IMPORTANT. fullstop. It is true that some stuffs are repeated in uni. If you think that it is kinda unnecessary to spend so much time on FM which is difficult, as you can learn it in uni next time. Then dont even bother to ActScience in uni, because by that time, you will appreciate that the difficulty of FM is just nothing. Good luck.

Dont take Accounting in A-levels if you want to go to LSE for Act. Science, because they are not even considering A in Accounting as one of the needed 3As :) I dont knw whether this is still the same now, but this is what happened to my application two years back.

Smilehoe
07-06-2009, 12:11 PM
Thanks for your clarification. I didn't take A-level and so I didn't know a lot about the requirements for overseas universities. However I believe you have missed something. To quote myself,


In short,
For local Uni, I seriously don't encourage taking further maths.
For Aussie and Singapore, perhaps someone might be able to elaborate more.
I mentioned that FM is not encouraged if you intend to take ac. sc in local university. It was STPM that I was referring to. My reasoning is that, considering the lack of guidance on this particular subject, scoring A is likely to be hard. If your main concern is to secure a place in public universities rather than having FM in your result list but was rejected entry (for failing to obtain an A in FM), it seemed like a plausible case to choose the path of lesser risk.

As for A-levels, I believe your input is much appreciated by those related.

Welcome to Recom, BGT. Hope to see you around more often.

BGT
08-06-2009, 05:16 AM
I apologise if my first post sounded rather rude and arrogant which I have a feeling of it.
Anyway smilehoe, I agree with you that it is hard to score A in FM in STPM without proper guidance, well I didnt miss out on your quoted phrase about FM before local uni in your previous posts but I thought that people will more generally be referring it to Matematik T, or S, in its own name rather than "Further Maths" which led to my assumption that you are talking about A-levels FM. Sorry for that.

Smilehoe
08-06-2009, 09:30 AM
:) No worries. All we wanted was to give fellow recommers a better picture of ac. sc., and I believe such discussion would serve to clarify better.

Btw, where are you doing ac. sc now?

BGT
13-06-2009, 05:14 AM
I am in a UK uni but not doing a pure actuarial science course. :)

DecentMerson
01-11-2009, 12:17 AM
Hi all, it's been a long while since I last logged into Recom. I was rather active for a few years (2004-2007) but guess it was taking too much time of my life and one thing leads to another.

Anyway, some background about me - I graduated from University of Michigan in 2008 with B. Sc. in Mathematics (Actuarial Mathematics) and Economics. I took my CAS (Casualty Actuarial Society) 6 exam last Wed and finally have sometime to breath again. At the moment, I work for a good-size Property & Casualty Insurance Company. Property & Casualty is better known as General Insurance in UK and Malaysia. What is P&C insurance? It's practically non-life and non-health related insurance. So, your homeowners insurance and auto (car) insurance, business insurance. General insurance is much bigger piece of the insurance pie in other countries because of the liability piece (if you get injured at work / or get into an accident because of another driver's negligence/ ... who's liable for your wage loss or injury or property damage? Can you sue?...)

So, in recent years, I see many students having 'interest' in actuarial science. Funny thing is, other than knowing that it's related to math and most probably they will end up having a job in an insurance company, and also know that once you pass all the exams, you will command a huge paycheck. Though they are all quite true, but that shouldn't be why a student be interested in this field. First, learn about actuarial science or insurance in general. What's the function of insurance? What kind of insurance are there? What does an actuary do? What's in a day's work of an actuary? What it takes to be an actuary? What it takes to be a successful actuary?

Once you have consider these questions. Then, ask yourself, are you still interested in actuarial science.

Many people mistakenly think that to be an actuary, you need to have an actuarial science degree. That's not true. While it certainly helps to have those math courses that teach the syllabus covered in actuarial exams, one doesn't need to have an actuarial science degree. The 4 preliminary exams (Probability (P/1), Financial Math (FM/2), Life Contingencies (MLC/3L) & Financial Econ (MFE/3F) and Construction of Model (C/4)) and even many of the higher level exams are passable by purely self studying on your own. Of course, you have to enjoy math and good discipline when studying on your own. To put into perspective how much studying you need to pass an exam, the general rule is, for every hour of the exam, you need to study 100-hour. So, Exam P is 3 hours, FM is 2.5 hours, MLC is 3, MFE is 2.5, Exam C is 4 hours. (You don't have to take them in this sequence. But this is the most common sequence. Also, these hours might have changed since SOA/CAS are known for changing their exams very so often.) So, if you are taking a university course that prepares you for these exams, then, those hours can be cut by a lot.

So, are the exams hard! They are certainly not easy. The passing percentage varies from 30% to 60%. The 30-40% passing rate are mostly seen in the higher level exams, while for prelims, it's mostly 40-50%. If you put in the hours and you still fail the exams miserably, try it again. If you think you worked really hard and still fail. Maybe your study method is ineffective, or maybe you are just not cut for the math. It's not easy to be studying for the exams, even harder if you are doing it on your own. Ask yourself this, after a long-day of work (10 hours), do you have the motivation to muster an additional 2-4 hours a day to study for the exam for 4-5 months prior to the exam? If you pass it, congratulations! You just have to repeat this for 7-8 more times. If you faill it, sorry and try harder next time. Will you be able to pick yourself up after your have put in those effort preparing for the exam but still failing it?

What's great about the actuarial career, at least in US, is it's flexible and there are many career changers in the field. Not everyone know about actuarial science when they are 18/19. Even less know about an actuarial career will be a good fit.

So, what kind of work does an actuary do? Well, there are in general two types of work in an insurance company where actuaries are mostly needed. There are:
1) Pricing
2) Reserving

1) Pricing - As insurance is a product where the cost is unknown. Unlike a meal from a restaurant, where you can calculate the costs of all the ingredients, load in expenses and the profit and you can calculate the price to charge a customer for the meal. Insurance covers for losses that might happen in the future. So, there are several uncertainties that we are takling about here: If it will happen? When it will happen? And how severe it will be? So, by math and statistics, we can work out how much to charge. That's the first part - developing rates. Of course, it's not always the case where you will have perfect information - where you know exactly how much to charge if one customer walks into the door and say he/she wants to buy insurance. So, there's some estimations, predictions and other factors that need to be considered. Then, comes the part where you look at your own experience and other competitors' price and review your rates. Are we charging too high a premium? Are we pricing too low? Are we being adversely selected?... The pricing role is a rather versatile role as you need to be technical (enough to get data (involves some coding skills and Excel/Access skillset)) and have good soft skills (giving a presentation and negotiating with products and marketing and sales). It's not easy to explain the math models involved to a layman that doesn't do/understand math. For example, if your parents are not Math Phds or have a Physics/Engineering background, try explaining Stochastic Differential Equation or Generalized Linear Model or just basic Additional Math, X-square or X-cube and how integration and differentiation work.

2) Reserving - So, in exchange for the promise to pay an insured for their loss if an event occur, insurer receives premium. As there's the inherent uncertainties (if, when and how much) of the loss, it's important for insurance company to predict how much money they need to hold (reserve) for losses that will occur in the future. As not everyone will make claims, insurance companies don't hold onto every single cent of the premiums received, but enough to cover all losses that they estimate will happen. Because different line of business/insurance have very different reporting pattern, different amounts and methods are needed to make these estimations on reserving. So, the reserving job is more technical.

So, yes, an actuary needs to be good with Math and understand the big picture of things (econs, finances, accountings) and be able to communicate that to others (management and products). With these skills, the actuarial career is a great stepping stones to management-level work.

So, do yourself a favor and do some research about actuarial science and insurance or even risk management before you decide that you are interested in actuarial science. Or, you'll end up hating your work and regretting your decision. If you are thinking about it just because of the high income it promises, hate to break the news to you, you'll most likely hate your job and your experience getting through the exams.

So, a long-winded answer to non of your questions.

For those wondering if you should take FM for A-levels, well, in the actuarial field, it never hurts to have a strong stats and math background. I had 8-months of FM (my short stint in Singapore under ASEAN scholarship 2003) and found it rigorous and helpful. For those wondering if you should take Actuarial Science major, well, if you are interested in it, of course. It certainly helps.

One last thing, actuarial science is not just about passing exams and getting high paid. I selected actuarial science because I like math and econs and continual education, and a career in actuarial science allows me to do just that - learning on the job and learning about new methods all the time.

Not sure when will be my next post or logging into Recom, so sorry if I'm not here to answer your question or private messages.

Hopefully, my post gives you guys who are 'interested' in actuarial science but have no idea what it is all about something to think about. The online resource to learn about the actuarial career is vast. Website like beanactuary.org or many others have really good information for those who want to learn more.

All the best in your future endeavours!

kennylee95
01-11-2009, 01:59 AM
Thanks to DecentMerson!!!

As the one who are interested in maths and econs, I do really appreciate infos and some issues about what to do with actuary...

Being look forward to act. sci, might be in financial maths, it's great to know that there's nothing to do with mechanics.(As i can score pure and stats in FM but not mechanics)

And hope to see you active again in future, DecentMerson...

Nicholasng925
01-01-2010, 10:54 AM
For me, hmmm...i think actuaries love what they do. Their work is intellectually challenging and they are very well-paid. Actuaries are key players in the management team of the companies that employ them. In a fast-changing world, with new risks and the need for ever-more creative ways to tackle them, there are constant opportunities for personal and professional growth in an actuarial career, and the pleasure of life-long learning. Most actuaries work in a pleasant environment, alongside other professionals, and enjoy the respect of their peers.
But nowadays malaysia lack of Actuaries, that is why malaysia gov need to take steps to recruit and cultivate all-rounded actuaries!If not we will be lagging behind as actuaries contribute greatly to our economics development!


are u copied it from www.beanactuary.com??? i thought i have read it before...ahahahhaha~

eoes5991
15-01-2010, 08:31 AM
Hi I'm from UTAR Actuarial Science Jan 2010 intake.

I need advice/opinions from u all.

In this course I will have to take 4 electives from 13 units for 4 semesters. Which ones should I take?

Electives:
OPERATIONS RESEARCH
APPLIED STATISTICAL MODELS
MATHEMATICAL STATISTICS
DESIGN AND ANALYSIS OF EXPERIMENT
STATISTICAL QUALITY CONTROL
STATISTICAL SIMULATION FOR INSURANCE AND FINANCE
INTRODUCTORY TO STOCHASTIC PROCESSES
APPLIED NONPARAMETRIC STATISTICS
SURVIVAL MODELS
MATHEMATICS FOR PENSION FUNDS
LOSS MODELS
CREDIBILITY THEORY
INTRODUCTION TO TIME SERIES AND FORECASTING

Would taking one steer me towards the different areas of AS? (Life, P&C, etc)

Adrenaline
24-01-2010, 06:20 PM
can some1 tell me.. what is the best subject to take for A'level if i want to pursue my degree in actuarial science in UK top university

Nicholasng925
24-01-2010, 06:43 PM
can some1 tell me.. what is the best subject to take for A'level if i want to pursue my degree in actuarial science in UK top university

The best combination of subjects for the actuarial science degree is Maths, Further Maths and Economics. Not necessarily of the top UK university, but for all around the world.

Adrenaline
24-01-2010, 06:48 PM
so basically just need 3 only? thx nicholas... u sure know a lot bout AS..

Nicholasng925
24-01-2010, 08:02 PM
so basically just need 3 only? thx nicholas... u sure know a lot bout AS..

no you may take more than 3 subjects in you A-Level but it's all totally depends on you whether to take 3 or 4 subjects, but for actuarial science in degree, these 3 subjects would be good enough for you. your welcome again... well i just know a little bit about AS and wish to pursue it for my degree too, yet i'm not so lucky to secure a scholarship now. Just have to wait for the actual result i think.

Adrenaline
24-01-2010, 11:45 PM
no you may take more than 3 subjects in you A-Level but it's all totally depends on you whether to take 3 or 4 subjects, but for actuarial science in degree, these 3 subjects would be good enough for you. your welcome again... well i just know a little bit about AS and wish to pursue it for my degree too, yet i'm not so lucky to secure a scholarship now. Just have to wait for the actual result i think.

not using fa/ma scholarship? hehe.. dont worry.. if u have already been to bnm interview... i bet ur actual result will come out great.. it is a matter of time 4 u to secure 1...

Nicholasng925
25-01-2010, 12:34 AM
not using fa/ma scholarship? hehe.. dont worry.. if u have already been to bnm interview... i bet ur actual result will come out great.. it is a matter of time 4 u to secure 1...

well my family aren't rich so unfortunately i can't secure FAMA scholarship too, but i still quite worried about the scholarships and afraid of not be able to secure one, and F6 is definitely my last option. yeah i just hope that my result would be good and in the end of the day hope to be a scholar of some body.

lowch1
25-01-2010, 01:59 AM
Form 6 very bad meh... LOL Form 6 was my first option when I couldn't get any scholarship. It was quite fun and I've never regretted my choice. I didn't go for A Level because of 3 reasons : I need to pay for them, STPM is widely recognized worldwide as well (I got admission to City Uni and Kent Uni in UK, and Melbourne Uni in Australia using my STPM forecast results.), and also if I can't score well at STPM/A-Level stage, I still can go public uni with STPM (instead of stuck with A Levels and hav to pay again to further my studies in private uni)

But now I'm studying Actuarial Science in NTU coz I couldn't afford those UK/Aus unis without scholarship. So.. STPM =]

Anyways, all the best and good luck. Hope you get a scholarship soon. Haha..

Nicholasng925
25-01-2010, 02:30 AM
Form 6 very bad meh... LOL Form 6 was my first option when I couldn't get any scholarship. It was quite fun and I've never regretted my choice. I didn't go for A Level because of 3 reasons : I need to pay for them, STPM is widely recognized worldwide as well (I got admission to City Uni and Kent Uni in UK, and Melbourne Uni in Australia using my STPM forecast results.), and also if I can't score well at STPM/A-Level stage, I still can go public uni with STPM (instead of stuck with A Levels and hav to pay again to further my studies in private uni)

But now I'm studying Actuarial Science in NTU coz I couldn't afford those UK/Aus unis without scholarship. So.. STPM =]

Anyways, all the best and good luck. Hope you get a scholarship soon. Haha..

Wow... you know what... I'm smiling now... Thanks for enlightening me... ahahahha~ Maybe F6 is not that bad as what the rumor says. I was just so worried about the life if i go study in F6, but after reading your experience, well now i don't really think it's bad though. So, you must be very good in your forecast result for you to get admission to City University London and Uni of Kent as well as Uni.of Melbourne, right? How many A's did you got in your forecast? And how did you applied to NTU to study actuarial science instead of UKM or maybe UM??? Is the academic requirement to enter NTU same as those in UK and Australia? Why don't you apply any scholarship to study for undergraduate in UK or Australia since you got admitted??? I think you would stand a better chance in securing a scholarship if you have the admission letter from those universities. Correct me if i'm wrong.

Oh yeah, i heard that STPM is really hard and those who score in it would be genius. Just a rumor, hope you can tell me more about F6 life. Thanks in advance. :)

lowch1
25-01-2010, 03:48 AM
Wow... you know what... I'm smiling now... Thanks for enlightening me... ahahahha~ Maybe F6 is not that bad as what the rumor says. I was just so worried about the life if i go study in F6, but after reading your experience, well now i don't really think it's bad though. So, you must be very good in your forecast result for you to get admission to City University London and Uni of Kent as well as Uni.of Melbourne, right? How many A's did you got in your forecast? And how did you applied to NTU to study actuarial science instead of UKM or maybe UM??? Is the academic requirement to enter NTU same as those in UK and Australia? Why don't you apply any scholarship to study for undergraduate in UK or Australia since you got admitted??? I think you would stand a better chance in securing a scholarship if you have the admission letter from those universities. Correct me if i'm wrong.

Oh yeah, i heard that STPM is really hard and those who score in it would be genius. Just a rumor, hope you can tell me more about F6 life. Thanks in advance. :)

Someone mentioned in this thread that it's not very difficult to get into those unis (City, Kent, etc) as long as you apply. And, I did apply for all those scholarships. It's just that they don't think I'm good enough for them HAHAHAHA...

If you are interested to study Actuarial Science in NTU, you can take either A-Levels or STPM, and apply after getting the actual result. But recently it's getting harder (think straight As) to get into the business school (the school offering actuarial science course) because of the competition from local students. I applied to UKM and UM too so that I have something to fall back to.

For me, life in Form 6 is just an extension of life in Form 5. Hahaha.. But with much more freedom from the school (rules somehow applied less strictly) and the same fun (still organizing all those events and gatherings). The materials are definitely much harder than SPM, so time management becomes more important than before. Having good teachers helped, too. =]

Good luck!

Nicholasng925
25-01-2010, 12:44 PM
Someone mentioned in this thread that it's not very difficult to get into those unis (City, Kent, etc) as long as you apply. And, I did apply for all those scholarships. It's just that they don't think I'm good enough for them HAHAHAHA...

If you are interested to study Actuarial Science in NTU, you can take either A-Levels or STPM, and apply after getting the actual result. But recently it's getting harder (think straight As) to get into the business school (the school offering actuarial science course) because of the competition from local students. I applied to UKM and UM too so that I have something to fall back to.

For me, life in Form 6 is just an extension of life in Form 5. Hahaha.. But with much more freedom from the school (rules somehow applied less strictly) and the same fun (still organizing all those events and gatherings). The materials are definitely much harder than SPM, so time management becomes more important than before. Having good teachers helped, too. =]

Good luck!

The CGPA must be very high i think to be admitted to those universities(City, Kent,etc), right? And how many A's did you got during your Trial STPM and the actual result?? If I have to study F6 in the end, what is the best combination of subjects for preparation into the path of actuarial science? I'm quite sure that Maths T and Further Maths T are needed, right? what about the other 3 subjects? Can i mix with the subjects of art stream, such as Economics, accounting and Business studies?? Those 3 art stream subjects are taught in BM or BI??? Hope those subjects are taught in BI though... Which school in KL or Klang Valley have the best school/teachers for F6 students??? Wow... so many questions... hahahha~ sorry2... just curious about everything... I would really appreciate it if you answer all of my questions... Thanks in advance!!! :P

lowch1
25-01-2010, 02:39 PM
The CGPA must be very high i think to be admitted to those universities(City, Kent,etc), right? And how many A's did you got during your Trial STPM and the actual result?? If I have to study F6 in the end, what is the best combination of subjects for preparation into the path of actuarial science? I'm quite sure that Maths T and Further Maths T are needed, right? what about the other 3 subjects? Can i mix with the subjects of art stream, such as Economics, accounting and Business studies?? Those 3 art stream subjects are taught in BM or BI??? Hope those subjects are taught in BI though... Which school in KL or Klang Valley have the best school/teachers for F6 students??? Wow... so many questions... hahahha~ sorry2... just curious about everything... I would really appreciate it if you answer all of my questions... Thanks in advance!!! :P

LOL I dun think this thread is for STPM questions. But since you asked, well, I've got 4A's for my STPM (trial and actual). Entry requirement differs from university to university. Please check with various universities to see if sciences (esp Physics) are needed. But generally for foreign universities, you can take anything for the remaining subjects. But for local university, science subjects are required for Actuarial Science courses. [As I am writing this, my friend (Chong It, if you happen to know him) said you can consider this, if you are not going to enter local uni for actuarial science no matter what, arts stream subjects are easier to score and hence increase your chance of obtaining straight As in STPM. But it's not recommended if you want to leave that option open.]

I believe Further Math T would be very helpful, as it gives you a good foundation for the Maths you need in actuarial studies. Personally I feel sciences subjects are also useful in building your analytical and application skills.

I'm not sure about the BEST school/teacher in KL. Haha.. Never been to enough of them to compare. I dunno any Further Math teacher too. LOL.. You will have to ask around.

(Yah you might have guessed it: I didn't take Further Math.)

Nicholasng925
25-01-2010, 04:25 PM
LOL I dun think this thread is for STPM questions. But since you asked, well, I've got 4A's for my STPM (trial and actual). Entry requirement differs from university to university. Please check with various universities to see if sciences (esp Physics) are needed. But generally for foreign universities, you can take anything for the remaining subjects. But for local university, science subjects are required for Actuarial Science courses. [As I am writing this, my friend (Chong It, if you happen to know him) said you can consider this, if you are not going to enter local uni for actuarial science no matter what, arts stream subjects are easier to score and hence increase your chance of obtaining straight As in STPM. But it's not recommended if you want to leave that option open.]

I believe Further Math T would be very helpful, as it gives you a good foundation for the Maths you need in actuarial studies. Personally I feel sciences subjects are also useful in building your analytical and application skills.

I'm not sure about the BEST school/teacher in KL. Haha.. Never been to enough of them to compare. I dunno any Further Math teacher too. LOL.. You will have to ask around.

(Yah you might have guessed it: I didn't take Further Math.)

Well i got one question, why science subjects(esp Physics) are needed for actuarial science??? And that means if i'm aiming for degree in actuarial science at overseas universities, i can take maths T, further maths T and other art streams subjects such as business studies, economics and accounting right? I heard that Further Maths T is extremely hard and unless i'm really interested in it, otherwise i should never take it. Is that right? And one more thing, the art stream subjects such as economics, accounting and business studies are taught in BM right? How if i wanna suit it into English from Malay Language if i happened to get a foreign university? That would be a problem for me, don't you think so? What subjects did you take in your STPM??? Thanks in advance... =)

lowch1
25-01-2010, 04:55 PM
Well i got one question, why science subjects(esp Physics) are needed for actuarial science???

I have no idea why local uni want to put science subjects as one of the pre-requisites. They just do. Haha..


And that means if i'm aiming for degree in actuarial science at overseas universities, i can take maths T, further maths T and other art streams subjects such as business studies, economics and accounting right?

In general, yes. Please check with respective universities. =]

But I feel you are those bright people who want to be better prepared for this career instead of chasing grades. I feel sciences helps you build up your application skills, which I feel is important in the actuarial field where you have to decide between various statistical methods and apply them appropriately to all sorts of insurance products/financial problems.


I heard that Further Maths T is extremely hard and unless i'm really interested in it, otherwise i should never take it. Is that right?

I have never taken it before. I can't advise you on this. Haha.. You should do what you think you can handle. You can study it for a while and decides if you want to sit for the exam.


And one more thing, the art stream subjects such as economics, accounting and business studies are taught in BM right? How if i wanna suit it into English from Malay Language if i happened to get a foreign university? That would be a problem for me, don't you think so?

I believe it is still taught in BM.

Regarding the language transition, it depends on your language ability. Conceptually it will still be the same mah, hence you just need to know the English counterpart of the terms you studied. If you have no problem with the language itself, changing the learning medium would not be a problem. The opposite is also true.


What subjects did you take in your STPM??? Thanks in advance... =)

Physics, Chemistry, Math T, and General Studies.

No prob. All the best.

cfliang
25-01-2010, 05:14 PM
Hi lowch1, are u a Malaysian studying actuarial science in NTU? Which year are u in now?

Nicholasng925
25-01-2010, 09:20 PM
I have no idea why local uni want to put science subjects as one of the pre-requisites. They just do. Haha..



In general, yes. Please check with respective universities. =]

But I feel you are those bright people who want to be better prepared for this career instead of chasing grades. I feel sciences helps you build up your application skills, which I feel is important in the actuarial field where you have to decide between various statistical methods and apply them appropriately to all sorts of insurance products/financial problems.



I have never taken it before. I can't advise you on this. Haha.. You should do what you think you can handle. You can study it for a while and decides if you want to sit for the exam.



I believe it is still taught in BM.

Regarding the language transition, it depends on your language ability. Conceptually it will still be the same mah, hence you just need to know the English counterpart of the terms you studied. If you have no problem with the language itself, changing the learning medium would not be a problem. The opposite is also true.



Physics, Chemistry, Math T, and General Studies.

No prob. All the best.


From what u meant in the statement that science subject is very essential in building up my application skill as the preparation for my actuarial studies, i think i would take up Physics if i have to go study F6 in the end. From some websites, i read that chemistry is the hardest science subject among the three while physics is needed to memorize the formulae since the formulae papers are not provided in the exam. I don't think it's a problem for me as i used to memorize most of the formulae during SPM exams. I have to ask, why did you take Chemistry instead of Further maths T if you wanna pursue in actuarial science for your degree??? I thought Chemistry is the hardest among the three science subjects. I guess, maybe your school don't have any further maths T teacher that can teach you... Maybe... Oh yeah, if i happened to take art subject instead of Physics, which one would be better for the preparation for degree in actuarial science??? Accounting or Economics or Business studies??? Since you are studying actuarial science now, i think you would know it better. Thanks for answering all my questions in my previous post... I really appreciate it... :)

lowch1
26-01-2010, 01:26 AM
Hi lowch1, are u a Malaysian studying actuarial science in NTU? Which year are u in now?

Yes I am. LOL. Why?


From what u meant in the statement that science subject is very essential in building up my application skill as the preparation for my actuarial studies, i think i would take up Physics if i have to go study F6 in the end. From some websites, i read that chemistry is the hardest science subject among the three while physics is needed to memorize the formulae since the formulae papers are not provided in the exam. I don't think it's a problem for me as i used to memorize most of the formulae during SPM exams. I have to ask, why did you take Chemistry instead of Further maths T if you wanna pursue in actuarial science for your degree??? I thought Chemistry is the hardest among the three science subjects. I guess, maybe your school don't have any further maths T teacher that can teach you... Maybe... Oh yeah, if i happened to take art subject instead of Physics, which one would be better for the preparation for degree in actuarial science??? Accounting or Economics or Business studies??? Since you are studying actuarial science now, i think you would know it better. Thanks for answering all my questions in my previous post... I really appreciate it... :)

Chemistry is sort of compulsory for science streams students. Difficulty varies from people to people. I wouldn't say it's the hardest amongst the three, or otherwise. Yah my area don't have people want to teach FM T. T.T

Anyways, don't take my word bulat-bulat. These are just my humble opinion that sciences can help you to build ur analytical skillset. Some people might not agree and thinks that it has nothing to do with what you are going to study in actuarial science. Because they are right, the knowledge you learn in those sciences are not used in actuarial science at all.

Hmmm.. Accounting and Economics would be helpful to give you a bit of a headstart. You will definitely see them in your uni first year because they are needed for the IOA/SAO papers. Having learnt it before in STPM helps (I think).

=]

Nicholasng925
26-01-2010, 02:50 AM
Chemistry is sort of compulsory for science streams students. Difficulty varies from people to people. I wouldn't say it's the hardest amongst the three, or otherwise. Yah my area don't have people want to teach FM T. T.T

Anyways, don't take my word bulat-bulat. These are just my humble opinion that sciences can help you to build ur analytical skillset. Some people might not agree and thinks that it has nothing to do with what you are going to study in actuarial science. Because they are right, the knowledge you learn in those sciences are not used in actuarial science at all.

Hmmm.. Accounting and Economics would be helpful to give you a bit of a headstart. You will definitely see them in your uni first year because they are needed for the IOA/SAO papers. Having learnt it before in STPM helps (I think).

=]

Is Chemistry compulsory for the science stream students??? or sort of like what you have said??? Well i think FM T is a very hard subject and hardly you can find a teacher who is teaching FM T because most of the students dare not take it and also the hardness of the subject itself. From some websites in the internet, i found out that economics had a crash in timetable with Further Maths T during STPM 2007 if i'm not mistaken. So i can't take Further maths T with economics at the same time i guess... it would be good combination if i take both of them at the same time... what a waste for the students like me that year... Oh yeah, wanna ask... Can i still in the science stream but not taking any science subject except Maths T and Further Maths T? and can i take accounting/economics at the same time while i'm in the science stream? Well i think accounting would be good for me as i have the basics during SPM and i think i would be doing well in F6 too if i take it... For economics, i don't have any basic so i can't tell much on it but i can say that it would be really essential for the actuarial studies later on during my degree. Did accounting apply a lot in actuarial studies? Thanks in advance... :P

slappyfin3
26-01-2010, 02:56 AM
Nick I think you should ask the schools offering f6 around your area for these sort of details :)

Nicholasng925
26-01-2010, 03:50 AM
Nick I think you should ask the schools offering f6 around your area for these sort of details :)

I'm not sure about the schools around my area that offering F6 as what i have told you earlier, i'm from boarding school and i'm assure that my school don't offer F6. And i'm not sure whether to go into F6 yet as the result haven't being revealed. I just asking everything i need to know before i take part in it in the end... if i have to study F6... I think i have to ask some seniors as they have experienced it and definitely know everything about F6...

cfliang
26-01-2010, 02:35 PM
lowch1, oh I see. Coz I intend to go NTU for actuarial science too. Now I am waiting for my STPM results. Mind if I add u in msn? Btw, I heard that Malaysians have low chances of getting into NTU Business School even with straight As as they reserve for Singaporeans. Is it true?

lowch1
27-01-2010, 11:57 PM
I'm not sure about the schools around my area that offering F6 as what i have told you earlier, i'm from boarding school and i'm assure that my school don't offer F6. And i'm not sure whether to go into F6 yet as the result haven't being revealed. I just asking everything i need to know before i take part in it in the end... if i have to study F6... I think i have to ask some seniors as they have experienced it and definitely know everything about F6...

I don't think normal secondary schools offer classes combining subjects from science streams and humanities stream. You might need to ask KTAR whether you can do that there. I can't find anything online for guidelines of subject registration for STPM. I think you will need to approach schools to know more about it. =]


lowch1, oh I see. Coz I intend to go NTU for actuarial science too. Now I am waiting for my STPM results. Mind if I add u in msn? Btw, I heard that Malaysians have low chances of getting into NTU Business School even with straight As as they reserve for Singaporeans. Is it true?

I don't like to answer questions of this type actually, because I don't know how many people applied with straight As from Malaysia, and how many of these are offered a placement in Business, and what other factors that are taken into consideration.

I would like to just say that try to apply and hope for the best. Good luck! =]

Nicholasng925
28-01-2010, 02:02 AM
I don't think normal secondary schools offer classes combining subjects from science streams and humanities stream. You might need to ask KTAR whether you can do that there. I can't find anything online for guidelines of subject registration for STPM. I think you will need to approach schools to know more about it. =]

oh that means most likely i can't combine subjects from science stream and art stream such as Maths T, Further Maths T, PA and Economics/Accounting is it? So by that i think i have to take Physics as my last option as Physics has a lot of calculations too and that will further enhance my maths and thinking skill. I caught some wind from the other threads saying that they usually take Further Maths T as their fifth subjects, is that true? Is that means I should take 4 subjects excluding Further Maths T and study for 5 subjects in total? I don't really hope that's true as i don't wanna waste my time studying for those subject that would not related at all with my future study such as Chemistry. Anyway, thanks a lot for helping me... :)

Zanarh
07-04-2010, 05:59 PM
Hi all,

I am very interested in pursuing a career as an actuary, and I have received offers from UCL (Mathematics & Statistical Science BSc) and LSE (Actuarial Science BSc), though I don't really know which offer to accept. Both are colleges of the University of London, and the living costs/tuition fees are roughly similar.

Pros for UCL:
1. Awarded Graduate Statistician status by the Royal Statistical Society upon graduation
2. Ranked 4th in the QS World University Rankings (2009)
3. Provides "excellent preparation for becoming a professional statistician or an actuary"

Pros for LSE:
1. Given exemptions for Institute of Actuaries examinations
2. More specialized courses for Actuarial Science
3. Strong reputation in Malaysia (?)

Either way I could become a member (associate/fellow) of the Institute of Actuaries UK, just that it'll take an extra one or two years if I graduate from UCL.

What do you guys think?

smy
07-04-2010, 06:17 PM
Hi all,

I am very interested in pursuing a career as an actuary, and I have received offers from UCL (Mathematics & Statistical Science BSc) and LSE (Actuarial Science BSc), though I don't really know which offer to accept. Both are colleges of the University of London, and the living costs/tuition fees are roughly similar.

Pros for UCL:
1. Awarded Graduate Statistician status by the Royal Statistical Society upon graduation
2. Ranked 4th in the QS World University Rankings (2009)
3. Provides "excellent preparation for becoming a professional statistician or an actuary"

Pros for LSE:
1. Given exemptions for Institute of Actuaries examinations
2. More specialized courses for Actuarial Science
3. Strong reputation in Malaysia (?)

Either way I could become a member (associate/fellow) of the Institute of Actuaries UK, just that it'll take an extra one or two years if I graduate from UCL.

What do you guys think?
If u choose UCL,jpa MIGHT sponsor u under the tajaan tambahan programme whereas LSE is no more in jpa list of unis.:)

Zanarh
07-04-2010, 06:20 PM
If u choose UCL,jpa MIGHT sponsor u under the tajaan tambahan programme whereas LSE is no more in jpa list of unis.:)

Haha, I'm not eligible for JPA scholarships (or any scholarships which require SPM qualifications). I skipped Form 5 to study under the IB Diploma Programme, you see.

sengloon
15-04-2010, 01:45 PM
If u choose UCL,jpa MIGHT sponsor u under the tajaan tambahan programme whereas LSE is no more in jpa list of unis.:)
I would prefer LSE since they are more precise in teaching AS. AS is not only maths and mainly covered by finance and economics development. Fresh graduate from LSE can secure job in HK or Taiwan with $150k salary per month(if u get 1st class honour)..wow good luck :)

Can someone tell me about the AS program offered in local Unis (UM and UKM)..Are their graduates harder to become Fellow since the teaching materials are not up to mark?

Nicholasng925
15-04-2010, 02:04 PM
Haha, I'm not eligible for JPA scholarships (or any scholarships which require SPM qualifications). I skipped Form 5 to study under the IB Diploma Programme, you see.

Oh, well JPA's Tajaan Tambahan scholarship don't need SPM qualification. Once you finished your IB and got offers from UCL and LSE, you can apply for it by writing letters in to the JPA scholarship department. Not really sure about the procedures, but just telling you this info. :) You may check it out more at the "JPA Tajaan Tambahan" thread in Recom.


I would prefer LSE since they are more precise in teaching AS. AS is not only maths and mainly covered by finance and economics development. Fresh graduate from LSE can secure job in HK or Taiwan with $150k salary per month(if u get 1st class honour)..wow good luck :)

Can someone tell me about the AS program offered in local Unis (UM and UKM)..Are their graduates harder to become Fellow since the teaching materials are not up to mark?

Not necessary. I think the teaching materials are about the same, and since Malaysian public universities(UM and UKM) prefer the actuarial students to take SOA professional exams more, so the lecturers'd teach more about US actuarial syllabus. It's entirely depends on the students themselves, whether to study it hard enough with the precise methods. Even though you might get into LSE, City University London, Wharton Business School or Georgia State University, if you don't work hard, and don't have immense determination on studying it, you'd never become a Fellow in the end.

I believe, if we study hard enough, no matter where we are, UKM or City University London, we'll still succeed in this career. Cheers~ :)

nervousSTAR
30-05-2010, 10:13 PM
hi thr, may i know how many students will be short-listed for the AS course in UKM?
i m a former matriculation students who took account~~~ i need some advices,thx~^^

fookent
02-06-2010, 05:27 PM
hi thr, may i know how many students will be short-listed for the AS course in UKM?
i m a former matriculation students who took account~~~ i need some advices,thx~^^

last year gt 10 chinese matri get AS course
info from quansheng...
this website is chinese website, so oni gt chinese student info..=)
so forgive me if u are from other races..^^

sengloon
02-06-2010, 05:51 PM
last year gt 10 chinese matri get AS course
info from quansheng...
this website is chinese website, so oni gt chinese student info..=)
so forgive me if u are from other races..^^
Pity STPM..there was only 1 chinese in UM and 2 in UKM..:(

stevenwong93
12-12-2010, 07:45 AM
Which subject should I take in A-Level if I would like to study for actuarial science?

Sillyboy
12-12-2010, 10:18 PM
Which subject should I take in A-Level if I would like to study for actuarial science?

Maths and Further Maths will be very helpful! Also, I hope you don't mind me asking, why do you want to study Actuarial Science?

stevenwong93
14-12-2010, 01:29 PM
Maths and Further Maths will be very helpful! Also, I hope you don't mind me asking, why do you want to study Actuarial Science?

Compare to science subjects, I think math is more interesting n I also love math very much.

Do I need to take Economics as well? But I didn't take it in SPM

ayjiahui
14-12-2010, 01:30 PM
Compare to science subjects, I think math is more interesting n I also love math very much.

what kind of maths do you like? pure maths or stats math? if you like all then good for you. ahah. cos actuarial has a lot of stats involved!

Nicholasng925
14-12-2010, 03:25 PM
Compare to science subjects, I think math is more interesting n I also love math very much.

Do I need to take Economics as well? But I didn't take it in SPM

It would be a plus point if you take Economics as one of your subjects combination, cause Actuarial Science is the perfect mixture of arts and science, which comprises of Maths, Statistics, Economics and Finance. You basically just learn everything along that line. You have to work harder, in fact harder than ordinary people in order to succeed in this course.

It's okay if you didn't take Economics in SPM, cause I didn't take it neither. I'm taking Maths, FM, Economics and Physics as my subjects combination of A-Levels now in Taylor's Subang, and would be pursuing Actuarial Science as well later on! :)

Economics in SPM is way simpler than that in A-Levels, so fret not, you'll just be fine if you work harder. Anyways, for now Economics AS level is still easy for me, but don't be pissed off when it comes to A2 Economics. Heard that it's very difficult from my friends enrolling A-Levels in January/March intake 2010. But well, who cares, cause obviously all the A2 subjects will be very difficult, nothing is easy at that level!

Smilehoe
15-12-2010, 12:42 AM
Hi Stevenwong93,

Maths, Physics and Further Maths are all good choices, but more for the mathematical "maturity" it provides rather than the direct usage of materials in the actuarial field.

Although unrelated to your question, let's see what's waiting ahead for a typical actuarial route. Breaking down by actuarial exams the knowledge necessary (basing on the SOA system),
Exam Number
1. Probability
2. Financial Mathematics
3a. Financial Economics (Pricing of financial instruments)
3b. Life Contingencies
4. Construction of Actuarial Models

1, 3b and 4 are heavy on statisics and probability theory (though still not requiring graduate level material). While for 2 and 3a, I believe, are not directly related to any choices available in A-lvls. Further exam papers are even more disconnected from what we learned during pre-U as they are designed to cater for specific actuarial tasks.

Whatever you choose, be sure that they fulfill the entry requirement of your desired university.

PowerScout
20-12-2010, 09:44 PM
I'm new here : ) May I ask when can one start to take actuarial exam ?

Nicholasng925
20-12-2010, 10:06 PM
I'm new here : ) May I ask when can one start to take actuarial exam ?

Anytime when you feel like you're well prepared and want to take the actuarial exam. But of course you have to register for it and wait for the notifications on exam dates! =)

DoomScythe
21-12-2010, 07:16 PM
I'm new here : ) May I ask when can one start to take actuarial exam ?


Anytime when you feel like you're well prepared and want to take the actuarial exam. But of course you have to register for it and wait for the notifications on exam dates! =)

Yup, what nicholas said.

yhu1
22-12-2010, 02:52 PM
i had heard some RUMOURS about actuarial.s is the most difficult course in the world!
haha~

Nicholasng925
22-12-2010, 03:04 PM
i had heard some RUMOURS about actuarial.s is the most difficult course in the world!
haha~

It's not really a rumour, it could be fact! :amuse

Xon
22-12-2010, 03:36 PM
<digression>Wait till you do Medicine/Electrical Engineering! </digression>

<reminder>please keep chats to the minimum</reminder>

adele123
23-12-2010, 08:57 AM
i had heard some RUMOURS about actuarial s is the most difficult course in the world!
haha~

it's not easy, but nothing is that easy in life... everything has it's own difficulties

ThamayanthyM
28-12-2010, 08:50 PM
Hey guys, need some help here...After spm if i apply a scholarship for economics and i get it, can i continue doing acturial science after getting my economics degree?

Person A: So, what are you studying?
Me: Actuarial
Person A: Ah, alot of Malaysians are studying it (took from adele123's post)
Is it true that many malaysians are doing as now? if yes then the competiton will be tough in getting a scholarship for doing acturial science....haiz...


Form 6 very bad meh... LOL Form 6 was my first option when I couldn't get any scholarship. It was quite fun and I've never regretted my choice. I didn't go for A Level because of 3 reasons : I need to pay for them, STPM is widely recognized worldwide as well (I got admission to City Uni and Kent Uni in UK, and Melbourne Uni in Australia using my STPM forecast results.), and also if I can't score well at STPM/A-Level stage, I still can go public uni with STPM (instead of stuck with A Levels and hav to pay again to further my studies in private uni)

But now I'm studying Actuarial Science in NTU coz I couldn't afford those UK/Aus unis without scholarship. So.. STPM =]

Anyways, all the best and good luck. Hope you get a scholarship soon. Haha..

Hi, u studied in normal government school or private school? can government school STPM students get admission into those type of overseas unis?

Restl3ss
28-12-2010, 08:55 PM
Hi, u studied in normal government school or private school? can government school STPM students get admission into those type of overseas unis?

Yes, our local STPM is recognized by some of the universities overseas.

Sillyboy
28-12-2010, 09:12 PM
Hey guys, need some help here...After spm if i apply a scholarship for economics and i get it, can i continue doing acturial science after getting my economics degree?

Person A: So, what are you studying?
Me: Actuarial
Person A: Ah, alot of Malaysians are studying it (took from adele123's post)
Is it true that many malaysians are doing as now? if yes then the competiton will be tough in getting a scholarship for doing acturial science....haiz...



Hi, u studied in normal government school or private school? can government school STPM students get admission into those type of overseas unis?

1) I think what you mean by your first question is can you still be an actuary being an economics graduate. Yes, you most certainly can! Actuarial Science is merely a discipline for actuarial work and in terms of working as an actuary itself, any degree is fine as long as you are good in Maths. In fact, an extensive knowledge in economics could come in handy if you are pursuing the actuarial field!

People tend to go for Actuarial Science courses because it shortens ones path on becoming a full fledged actuary. Actuarial Science degree courses often come with exemptions for numerous professional papers. For example, there is a course about Survival Models offered by my department of study and whoever scores a 60 and above on it will get a CT4 (one of the many actuarial professional papers!) exemption. In short, an Actuarial Science degree course is tailored towards the actuarial profession. Somewhat rigid but extremely helpful for those who wants to be an actuary.

2) Yes indeed! Many Malaysians are going for actuarial work because of future prospect and not to mention, the lucrative pay that comes with it! Of course, to achieve all that one has to plough through heaps of professional examination papers in order to be a certified actuary. However, there are some who decided to stop after a few papers and find work elsewhere (related to the actuarial field I reckon). Correct me if I am wrong but the current market is saturated with actuarial graduates and I believe this trend was fueled with something that happened 5 years ago. Then, the actuarial profession is still relatively unheard of amongst students but somehow, people started looking into its prospect and it boomed from then!

3) To get into overseas universities, you will near internationally recognised pre-u qualifications. Unis do not care if your STPM qualification is from a government school or a private school.

DoomScythe
29-12-2010, 08:54 PM
Hey guys, need some help here...After spm if i apply a scholarship for economics and i get it, can i continue doing acturial science after getting my economics degree?

Person A: So, what are you studying?
Me: Actuarial
Person A: Ah, alot of Malaysians are studying it (took from adele123's post)
Is it true that many malaysians are doing as now? if yes then the competiton will be tough in getting a scholarship for doing acturial science....haiz...



To be an actuary, you don't have to come out with an Actuarial Science degree. As mentioned by Sillyboy, people do it because it's a shortcut.

With regards to the scholarship, JPA has frozen Actuarial Science sponsorship starting from this year (2010). I do not have extra information regarding the reason for the freeze, but I assume that it is because of the flood of actuarial students in the market. Many however, don't continue to pursue the actuarial profession. JPA probably discovered that this is usually the case, and stopped sponsoring students.

AFAIK, BNM still offers Actuarial Science scholarship. At present, there are only ~70 actuaries in Malaysia. So, to say that the market is saturated, I don't think it is. But Life is certainly quite saturated and matured, whilst other fields are quite devoid of actuaries.

Nicholasng925
29-12-2010, 09:44 PM
To be an actuary, you don't have to come out with an Actuarial Science degree. As mentioned by Sillyboy, people do it because it's a shortcut.

I only agree with your statement to a certain extent though and would like to beg to differ. Actuarial Science degree is NOT literally a shortcut, because it capsulates all the necessary topics on Actuarial Science, and shorten the qualifying process. In the UK, actuarial undergraduate students may obtain exemptions of Core Technical papers from the Institute of Actuaries by scoring some high average marks in the college exams. You may regard it as shortcut, but well in a way it isn't.


With regards to the scholarship, JPA has frozen Actuarial Science sponsorship starting from this year (2010). I do not have extra information regarding the reason for the freeze, but I assume that it is because of the flood of actuarial students in the market. Many however, don't continue to pursue the actuarial profession. JPA probably discovered that this is usually the case, and stopped sponsoring students.

Yes indeed.


AFAIK, BNM still offers Actuarial Science scholarship. At present, there are only ~70 actuaries in Malaysia. So, to say that the market is saturated, I don't think it is. But Life is certainly quite saturated and matured, whilst other fields are quite devoid of actuaries.

BNM, Khazanah, MARA and MNRB are still offering Actuarial Science scholarships.

ThamayanthyM
29-12-2010, 09:56 PM
any of those scholarship open now?

Nicholasng925
29-12-2010, 09:59 PM
any of those scholarship open now?

MNRB scholarship is opened now.

DoomScythe
30-12-2010, 01:04 AM
I only agree with your statement to a certain extent though and would like to beg to differ. Actuarial Science degree is NOT literally a shortcut, because it capsulates all the necessary topics on Actuarial Science, and shorten the qualifying process. In the UK, actuarial undergraduate students may obtain exemptions of Core Technical papers from the Institute of Actuaries by scoring some high average marks in the college exams. You may regard it as shortcut, but well in a way it isn't.



Actuaries typically qualify through part time study. Actuarial qualification is a professional qualification, i.e. you're expected to study whilst you're working. Actuarial students are expected to have working knowledge while they embark on their exams with the actuarial boards.

Prior to the establishment of actuarial courses, a typical actuary takes about 7-8 years if he's determined and quick. Many didn't qualify, due to sheer pressure of having to work and study at the same time. Others would take more than a decade, if they ever made it.

With the advent of actuarial courses, someone can actually complete all of the actuarial papers in 3 years. More common in 4-5 years. Even then, the amount of determination needed to succeed is lesser, compared to the previous generation of actuaries. Since you subscribe to the UK board, are you aware that in 2 years, it is possible to gather up to 12 out of 15 papers? All that's left is for you to complete 3 more papers, and get 3 years of working experience to be an actuary.

Actuarial courses turned a self-study professional undertaking into a taught academic course. If this is not a short cut, I don't know what is.

Nicholasng925
30-12-2010, 01:45 AM
With the advent of actuarial courses, someone can actually complete all of the actuarial papers in 3 years. More common in 4-5 years. Even then, the amount of determination needed to succeed is lesser, compared to the previous generation of actuaries. Since you subscribe to the UK board, are you aware that in 2 years, it is possible to gather up to 12 out of 15 papers? All that's left is for you to complete 3 more papers, and get 3 years of working experience to be an actuary.

Actuarial courses turned a self-study professional undertaking into a taught academic course. If this is not a short cut, I don't know what is.

Alright then, in a way it seems to be a short cut for students to qualify faster throughout the process. It's true that the amount of determination needed to succeed is lesser as compared to the previous generations of actuaries, but it's also the main purpose of actuarial courses.

As you have said, many of them didn't qualify due to sheer pressure of having to work and study at the same time. Others would take more than a decade, if they ever made it. The introduction of actuarial course in the universities saves the time of the students, for which they can concentrate in their studies for these 4-5 years just to qualify as actuaries.

One of the reasons the Institute of Actuaries offers exemptions to actuarial undergraduate students is to let them qualify faster, and to produce greater number of qualified actuaries, at faster rate of course. The internal exams set by the universities, however, are not that easy and I believe that it's on par with the actual professional papers.

For your question, I'm not really aware on that. Wow that is really fast and I never knew about it! I was expecting to work for at least 7 years, and study for the exams at the same time, at least for Core Application (3 papers), Specialist Technical (2 papers) and Specialist Application (1 paper), assuming that I can get exemptions for maximum number of 8 Core Technical papers from reputable universities like Cass Business School.

Michael_Light
02-01-2011, 12:15 PM
For those who had taken form 6 or A-level and studying actuarial science now... I need your help...

What subjects you took when you study form 6/ A-level? Where did you study when you pursuing your form 6/A-level (which school)?

Many school/college do not offer the combination that i want...most of the combination are included science(either bio/chemistry/physics) which is totally not related with actuarial science... I don't want to study anything that not related with actuarial science... what should i do? Is that i can only take the combination that offered by the school/college or i can take subjects that i want seperately?

Thanks in advance...

Nicholasng925
02-01-2011, 01:29 PM
I'm taking Maths, Further Maths, Physics and Economics in Taylor's College Subang Jaya now.

Many colleges do offer the combination that is suitable for Actuarial Science, and besides the combination above, you may want to take Maths/FM/Accounting/Economics as your subject combination, though it's not so recommended since Accounting is a soft subject. Soft subjects would only give you lower weightage when it comes to universities applications, thus reducing your chance of admission to top universities. That's why I'm taking Physics instead of Accounting, for Physics is a traditional subject.

For your information, you can only take subjects combination offered by the school, to prevent to clashes of classes of different subjects.

joshuaoch
02-01-2011, 01:54 PM
MCKL student here ^^ (M, FM, Phy, Chem)

May i ask, why are you so 'anti-science'? I mean, it actually brings no harm for studying something not related to Act. Sc... and who knows, MAYBE you will prefer Engineering related field than Act. Sc. in the future? I am one good example. I used to aspire to be a doctor, until it when it came to deciding my a-lvl courseplan... so... u dunno... things might change...

Act. Sc. needs very very little accounting skills lah... even if you're eager for that 'little bit', hey your future university knows that there are students who do not take econs or acc. one lah, and ull re-learn most of the things from a-level there...

Some frens even told me that a-lvl econs is nothing and can be mastered by some light reading... Im not sure about how that works but that guy is an OMGWTFBBQVCDDVDSNSD Genius + infinitely nerd... You may try that^^

If i am not mistaken, Help, Taylors, TARC, KDU, MCKL has FM (Inti Sunway ppl anyone?), and since you're so-called Act. Sc. lover, do take up FM...

Good luck... It's a long way to go... who knows if you get a scholarship and ends up like nicholas, who was supposed to come to mckl but ended up in taylors^^

Michael_Light
02-01-2011, 03:43 PM
I'm taking Maths, Further Maths, Physics and Economics in Taylor's College Subang Jaya now.

Many colleges do offer the combination that is suitable for Actuarial Science, and besides the combination above, you may want to take Maths/FM/Accounting/Economics as your subject combination, though it's not so recommended since Accounting is a soft subject. Soft subjects would only give you lower weightage when it comes to universities applications, thus reducing your chance of admission to top universities. That's why I'm taking Physics instead of Accounting, for Physics is a traditional subject.

For your information, you can only take subjects combination offered by the school, to prevent to clashes of classes of different subjects.

So you taking A-level... right? Actually i intend to take the math, fm, economics and accounting combination, but unfortunately i have no ideas on what school or college offer that combination. From what i see most of them offer the physics instead of the accounting combination... I wonder if is it possible for you to list one or few well-known school/college that offer the math, fm, economics and accounting combination? Thanks.




MCKL student here ^^ (M, FM, Phy, Chem)

May i ask, why are you so 'anti-science'? I mean, it actually brings no harm for studying something not related to Act. Sc... and who knows, MAYBE you will prefer Engineering related field than Act. Sc. in the future? I am one good example. I used to aspire to be a doctor, until it when it came to deciding my a-lvl courseplan... so... u dunno... things might change...

Act. Sc. needs very very little accounting skills lah... even if you're eager for that 'little bit', hey your future university knows that there are students who do not take econs or acc. one lah, and ull re-learn most of the things from a-level there...

Some frens even told me that a-lvl econs is nothing and can be mastered by some light reading... Im not sure about how that works but that guy is an OMGWTFBBQVCDDVDSNSD Genius + infinitely nerd... You may try that^^

If i am not mistaken, Help, Taylors, TARC, KDU, MCKL has FM (Inti Sunway ppl anyone?), and since you're so-called Act. Sc. lover, do take up FM...

Good luck... It's a long way to go... who knows if you get a scholarship and ends up like nicholas, who was supposed to come to mckl but ended up in taylors^^

If i am right, you study a-level, is it? Just to ask economics and accounting for A-level use english or malay as medium? Thanks for your advice.

Nicholasng925
02-01-2011, 03:45 PM
So you taking A-level... right? Actually i intend to take the math, fm, economics and accounting combination, but unfortunately i have no ideas on what school or college offer that combination. From what i see most of them offer the physics instead of the accounting combination... I wonder if is it possible for you to list one or few well-known school/college that offer the math, fm, economics and accounting combination? Thanks.

If i am right, you study a-level, is it? Just to ask economics and accounting for A-level use english or malay as medium? Thanks for your advice.

Yes, I'm taking A-Levels. MCKL does offer subjects combination of Maths/FM/Economics/Accounting.

Economics and Accounting for A-Levels use English as medium since A-Levels papers are set by the Cambridge University.

DoomScythe
02-01-2011, 05:10 PM
Do IB if you do not have any financial constraints. Take up Physics HL, Mathematics HL, Economics HL, BMS SL and 2 languages. :) Gives you lots of fun and good prep for uni life.

Michael_Light
02-01-2011, 07:49 PM
I don't know if these questions related to 'actuarial science' but please allow me to ask... what books you guys use in a-level for further maths, maths and economics(book name)? From what i know, form 6 further maths needs to buy tons of books because there is no all-in-one book for form 6 further maths... Is the same thing goes for a-level further math? Or one book will include all chapters? What brand you will recommend if i am going to study a-level further math, math and economics? Thanks again.

joshuaoch
02-01-2011, 08:24 PM
Can't help you with Econs and Accounts.... Sorry...:cry

Further... Erm... To score an A/A*, you don't need extra books apart from the text books which either you choose to buy original (RM65 per book) or photocopied (RM10 per book). Ask your seniors from your colleges where to get photocopied ones... not gonna disclose it here, or else if the shop is sued and close, i also got no place left to find photocopied books XP.

Basically pay attn to class, do homework, do past years, and that's enough to prepares you well for your exam...

http://www.freewebs.com/weews/ (if you not only want to score As but to explore Maths, go to this website and finish it up^^ But no lah right now fight for scholarships and uni application would serve as a better procedure... only if u have free time then...)

Dun worry about getting books. You got lecturers to help you out remember? They won't kill their students in asking them to buy rare and useless books one~

Yeah STPM needs some lol-ish degree level books because it is REALLY REALLY THAT DIFFICULT. I read STPM Math books and found that some of their syllabus is in A-level Further AS books... WOW O.O
p.s. above applies for ed-excel a-level. Ask nicholas for cambridge...

Nicholasng925
02-01-2011, 09:00 PM
The question above is not really appropriate to be asked in this thread, but since you asked, I will try to help you.

For Maths, you will need 2 Pure Maths books (AS and A2), one Mechanics book(A2) and one Statistics book (AS).
1. Pure Mathematics 1, by Hugh Neill and Douglas Quadling (for AS)
2. Pure Mathematics 2 & 3, by Hugh Neill and Douglas Quadling (for A2)
3. Statistics 1, by Steve Dobbs and Jane Miller (AS)
4. Mechanics 1, by Douglas Quadling (A2)

For the whole syllabus of Further Maths, you have to use at least 4 books (2 Pure Maths, 1 Thick Mechanics, and 1 Statistics).
1. Pure Mathematics 4, by Hugh Neill and Douglas Quadling
2. Pure Mathematics 5 & 6, by Hugh Neill and Douglas Quadling
3. A Concise Course in A-Level Statistics, by J. Crawshaw and J. Chambers
4. Understanding Mechanics, by A.J. Sadler and D.W.S. Thorning

For Economics, this book is quite good and is recommended by my teacher.
1. A Level Economics Student Book, by Alain Anderton

stevenwong93
15-01-2011, 04:45 PM
with subject combination of math, further math,econ n thnking skills in A Level, is it enough to pursue actuarial studies?

Nicholasng925
15-01-2011, 07:27 PM
with subject combination of math, further math,econ n thnking skills in A Level, is it enough to pursue actuarial studies?

Yes, it's enough.

miemoe
15-01-2011, 08:37 PM
Hye there!

I am interested in this course but i want to know is it really hard like medic?
I heard some people said this course will make you cant even leave your room because too busy studying. I know that in Uni level not only actuarial but other courses also will make you busy all the time. However, for other courses we do have some time for our leisure and enjoyment. What about actuarial?

Thanks in advance!

Nicholasng925
15-01-2011, 09:44 PM
Hye there!

I am interested in this course but i want to know is it really hard like medic?
I heard some people said this course will make you cant even leave your room because too busy studying. I know that in Uni level not only actuarial but other courses also will make you busy all the time. However, for other courses we do have some time for our leisure and enjoyment. What about actuarial?

Thanks in advance!

Well, Actuarial Science is, if not the most, one of the hardest courses one could ever learn. Not to say that you couldn't leave your room because too busy studying, but you can always find ways to entertain yourself, such as pampering yourself upon the completion of exams and planning some vacations to other places. You can always pamper yourself with lots of rewards, but of course after giving out so much efforts on studies.

adele123
16-01-2011, 12:04 AM
I am interested in this course but i want to know is it really hard like medic?
I heard some people said this course will make you cant even leave your room because too busy studying. I know that in Uni level not only actuarial but other courses also will make you busy all the time. However, for other courses we do have some time for our leisure and enjoyment. What about actuarial?


If you want to do well, in whatever you study, maybe not leaving one's room is the way to go...? :P

nothing is easy, things get exponentially harder in life. it's up to you to balance the the work and entertainment.

as to your 1st question... it's like asking does apple taste better or orange taste better. there are both totally opposite fields, how is one harder than another?

as to anymore people wondering, i just hope, think twice before asking things that you heard from other people. people who can tell you what actuarial is really is, is people who have/are studying in advance level.

huiwenz
01-05-2011, 02:17 PM
if i is an accountant now...
can i take an actuary course?

weiliang
01-05-2011, 03:05 PM
any stpm-er studying actuarial science at recom?? is it possible to get jpa scholarship t ostudy ac sc oversea??

kay1112
01-05-2011, 03:13 PM
any stpm-er studying actuarial science at recom?? is it possible to get jpa scholarship t ostudy ac sc oversea??

Hello there! As what I know, JPA stop giving out the scholarship for this course to spm-leavers since last year, for stpm, I'm not sure about it :)

Nicholasng925
01-05-2011, 03:16 PM
if i is an accountant now...
can i take an actuary course?

Yes, you can be an actuary as well, by studying for their professional exams and passing them.


any stpm-er studying actuarial science at recom?? is it possible to get jpa scholarship t ostudy ac sc oversea??

adele123 is one of post-STPM students who is studying Actuarial Science now in Australia. You might want to ask her for details.


Hello there! As what I know, JPA stop giving out the scholarship for this course to spm-leavers since last year, for stpm, I'm not sure about it :)

Yeah, and since JPA stopped giving scholarships to post-SPM students for Actuarial Science, there is a very slight chances then for them to sponsor post-STPM students for Actuarial Science.

adele123
01-05-2011, 05:42 PM
any stpm-er studying actuarial science at recom?? is it possible to get jpa scholarship t ostudy ac sc oversea??

i was offered the ivy league scholarship 2 years ago... As i know, someone applied for it last year to study actuarial, didn't get it because, it was not in the ivy league list of courses sponsored. that i read it at the OLD ivy league thread



if i is an accountant now...
can i take an actuary course?

accounting and actuarial is very different. well, theorectically, you can study anything and go for actuarial (just follow the pathway of becoming one) but why would any accountants want to even enter the field of actuarial science?

and the way you ask this question, I think you kinda get the idea they are similar, where in fact they are NOT.

what's with this world of wanting more of everything...

noleave
14-04-2013, 09:50 PM
Hey guys, I am currently a year 1 actuarial science student.
I'm facing difficulties in choosing elective subjects for year 2.
Can anyone tell me which of the following subject is relatively elementary and should be taken before others?

Survival Models : To study statistical estimation of survival models for actuarial applications and evaluation of the fitted models.

Loss Models : To develop and analyze Loss models for fixed time intervals such as one year.

Credibility Theory : To study the credibility approach to experience rating.

FYI, I've only learned year1 basic subjects like probability and statistic, calculus, theory of interest, algebra.
I haven't touched on subjects like stochatic process, introductial to actuarial maths, financial econs etc.

your help is much appreciated =)