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Actuaries are professionals with unbeatable analytical skills. In lay-man terms, they assume their roles in organizations as super-heroes or fortune tellers by planning for the future and protecting the organisations from losses. The speciality of the profession lies in understanding the nature of risk and introducing psychological, physical, and financial stability. Businesses grow, retirees invest, and people enjoy peace of mind, all because of trusted advisors better known as actuaries.

The science that deals with the profession is Actuarial science. It involves rigorous use of mathematics, statistics and financial theory to measure, manage and mitigate financial risk and uncertainty.


Most actuaries possess a bachelor's degree in mathematics, statistics or actuarial science. However, the profession doesn't require it inescapably. From a Higher Secondary passed to a graduate or a post graduate with sound knowledge in Mathematics & Statistics can become an actuary. All it takes is sound logic, problem solving, business awareness and great communication skills.

Passing a series of actuarial exams conducted by the Institute of Actuaries of India is the first step towards the highly demanded actuarial profession. IAI is a statutory body for regulation of profession of Actuaries in India.

Acturial Common Entrance Test (ACET) is a 3 hour computer based objective type exam conducted in June & December every year. The minimum eligibility criteria for taking the exam is the completion of Class XII with Maths as a subject.


IAI Actuarial Exams are divided into 2 types namely, written examinations and practical examinations. The written examinations come in four stages.

  • Stage 1: Core Technical (CT). This stage consists of 9 subjects and candidates are required to pass/be exempted from all 9 subjects.
  • Stage 2: Core Application (CA) stage that covers actuarial concepts. Candidates are required to pass all 3 subjects at this stage.
  • Stage 3: Specialist Technical (ST). This stage builds on the Core Applications Stage but in individual specialism (non-jurisdiction specific). The student will have to choose 2 subjects from the 6 subjects offered.
  • Stage 4: Specialist Application (SA). This is the final stage of the examinations. The students are required to choose one specialisation subject (India-specific or other jurisdiction specific).


Actuaries design and price insurance policies, monitor adequacy of funds, recommend appropriate rate of bonus, calculate risks, evaluate insurance businesses, fix premiums.ensure legal liability, loss of profit, etc. They are the advisors for investments, plans and business strategies. They optimize profits and minimize costs. They even prepare documents of analysis, calculations and interpretations and make presentations to explain their proposals.


Actuaries are most suitably employed in the following sectors:

  • Health, General or Life Insurance
  • Consulting firms
  • Government Investment firms.
  • Risk Management firms.
  • Banks and financial institutions.

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