Actuarial Science Subjects
About the subjects
What you study to become an Actuary
As an Actuary, you will be responsible for analyzing various vital aspects of a business setup, such as risk assessment and analyzing how you can reduce them in the future. Hence the Actuarial Science Subjects cover topics related to the field that will help you develop the required skills.
The entire actuarial science subjects is further classified into 13 parts that test and develop the candidates pursuing Actuarial Science in different subjects and skills. This gives the future actuaries the required foundation to face the challenges brought forth by their jobs.
We can classify the Actuarial Science Subjects into 4 major divisions
Essential subjects
Subjects that need more attention
You might get overwhelmed looking at the long list of actuarial science subjects. However, all you need is a strong foundation to ace all of them. Out of the 13 divisions of the actuarial science subjects, the following is the list of essential subjects that needs more attention.
CS1
Actuarial Statistics
This section aims to build a strong mathematical and statistical foundation in students that will greatly benefit their work life. Actuarial statistics is considered as one of the most important subjects.
CS2
Risk Modelling and Survival Analysis
This helps students develop the skill to use statistical modelling to analyze the risk and find strategies to avoid overcoming it.
CM1
Actuarial Mathematics
The purpose of having Actuarial Mathematics is to teach students about the uses of mathematical techniques to evaluate future cash flows (certain and contingent).
CM2
Financial Engineering and Loss Reserving
This section provides knowledge about the financial market, risk management and reserving.
CB1
Business Finance
It involves the theory and application of financial concepts and various other elements in a company’s financial statements.
CB2
Business Economics
It introduces the aspirants to basic principles of Economics and their applications (involves Microeconomics and Macroeconomics).
ACET
Actuarial Common Entrance Test
Actuarial Common Entrance Test (ACET) is an entrance exam by the Institute of Actuaries of India (IAI) for individuals who wish to pursue their careers as an actuary.