What does Veeky Forums think of actuarial sciences?

What does Veeky Forums think of actuarial sciences?

Another form of applied mathematics. 10 exams to just to work in insurance.

Also, this is the cumulative distribution function for the geometric distribution. Just so noone forgets.

Anyone here an actuary? Working on exam P right now. It's not too bad to be honest.

Finished Exam FM and working on Exam P. When are you sitting for the exam?

I failed exam P. I'm traumatized. My buddy then failed FM after making a 9 on P. Don't know what I should do with my life.

no, not really. you need 5 exams for an associates certificate. you don't need an ASA to work in the industry though. people who start usually have about 2 or 3 exams done.

I'm aiming for Decemeber. I need to brush up on my calculus and I'm working a pretty demanding job. Luckily I have SAS and SQL down already.

I'm using the infinite actuary for studying and I'm finding the lessons don't explain certain concepts very well. What are you using to study?

Just retake the exam. It not that bad unless you just spent your last $225.

Its about 10 exams for either FSA or FCAS. You get the picture.

I'm writing the exam on Sep. 24th.

BPP manual, free book by a guy named Finan, googling things I don't understand. Just do a lot problems and try to fully understand the solutions.

I just did practice problems from SOA and took the infinite actuary practice exams. I was scoring 70% on those. The exam had all new questions. I guess I didn't know the concepts well enough and had just memorized problems. I will retake it in November. I'm using the ACTEX.

That's my major

Probably a dumb question but what exactly are the modules? Is it like an online training session with an exam at the end?

great career if you don't mind the subject matter
it's a great way to do math with a high salary and good job security without being a genius
also having a clear path to promotion is a strong plus

>literally applied math

Why not be an engineer? And take zero tests

What kind of math is on these actuary exams?

Probability statistics finance (risk is the overlap) particularly involving modeling of insurance scenarios

Unless you guys are complete brainlets you're overexaggerating over P and FM like most of my colleagues. Infinite actuary has got to be a Jew trap I took both exams and breezed through them all I did was practice the free 200 questions online. Going to take C October and Im getting similar vibes from how simple this question set is

different kind of math
different kind of job environment
different kind of promotion/raise strategy

I studied engineering for a bit. I enjoyed the math part, but fucking hated the actual building and designing of shit.

So just quit and got a finance degree with minor in math and work as an analyst. Engineering fucking sucks.

My dad's an actuary. From what I understand you get paid shitloads of money in exchange for your soul.

Really? From understanding it's a standard 40 hour work week and high job satisfaction. I'm sure some companies will squeeze everything out of you.

Did your dad like his job?

I think he meant your allegiance lies with skewing the data for the benefit of the company rather than the world, as long as you can get past regulations. Ie you have no soul

Basically. Although they cost about $2000 for the SOA and take 1-2 years.

Well, the two major areas of actuarial practice are pricing and reserving. Reserving is just determining how much money the insurance company should save to meet future claims. Pricing is determining how much money the company needs to bring in (through the price of its policies) to meet future claims. You can't really skew the data in either scenario or else the company may face liquidity or, if it gets very bad, solvency problems in the future.

What a way to find the probability of an event without actually doing science.

Bump

Anyone here work in entry level positions? What's the work like?

>implying math needs science

>And take zero tests

You model prices and losses therefore you can decide how much money the company takes in based on conclusions from how you use the data

How does actuary exams differ from a CFA?

I hear its a pretty weird bunch of people man,
there was this dude who murdered a person and sent to jail.

thats all fine you know shit happens.

but when he got out the society of actuaries fined him $2000,- for having committed a murder which was against rules of conduct.

i mean, wtf. with the little freedom we have, why join this club if they are gonna bitch about what you do after workhours.