To work as an actuary, one usually studies advanced mathematics, business management, computer science, corporate finance and economics. Statistics and probability courses are essential to take. Actuaries pass exams offered by the Society of Actuaries or Casualty Actuarial Society before gaining a license.
Actuaries begin with a four-year college degree. During their education, they learn how to evaluate the impact of certain financial risks. Using this information, they create programs that keep a business or individual fiscally sound, even after a catastrophic event, death or environmental collapse. They evaluate the different aspects of capital investments, insurance plans and security products and learn how to use them to avoid the odds of fiscal uncertainty. They learn portfolio management and learn to use formulas to control an outcome following a negative life event.
After getting a degree, the expert completes a series of examinations to earn their license. It takes six to eight years to become a professional actuary. When starting out, many spend their time working their way up through the system. They may read profit, loss and business liability statements. Their boss may then ask them to discuss the odds if certain events occurred. Once this is done, they'll offer input on designing a portfolio that meets the client's needs for the present and future.
While completing college studies, students participate in internships helping them to hone their skills. The internship may lead to full-time employment after finishing their degree and completing the licensing exams.
Actuaries may work for an investment firm, insurance company or as a consultant. Get expert help planning for the future. They'll make sure you're protected from risks during unexpected circumstances. Actuaries share advice you need to minimize or avoid negative fiscal impact.