You're welcome! Hope this gave you some insight into the field. Be sure to check out the other videos to learn more! Here's a good one to watch before deciding whether becoming an actuary is right for you kzfaq.info/get/bejne/d6mPZ8SS3Z7TdnU.html

Glad to hear that! Good luck :)

Thanks Reza! Glad you're liking the channel :)

Good idea! I'll add that to my list of possible video ideas. I do have this post that talks about programming if you're interested. etchedactuarial.com/programming-actuaries/

I'm so glad this video helped you! :) Wishing you luck with your actuarial journey!

Glad to hear that! :)

I'm so happy I could help! Good luck with your exams! :)

Thanks Hasan :)

Thanks!

You're so welcome! :)

Thank you! You might also find this video helpful if you're still deciding whether this career is right for you kzfaq.info/get/bejne/d6mPZ8SS3Z7TdnU.html

Or u can go in financial advisor or a financial analyst

Generally the exams and other skills/experience are what employers look for. It's probably not necessary to go back for a second Bachelor's degree. One will be good enough! Hope you've been able to narrow down your options and decide on one. :)

@African_beefcake in which part of the movie

Yea tell us which part

At the beginning when most of them were young and were talking about what they want to be when older, the cub, the baby jaguar, spoke about going to be an actuary, while wearing a suit.

@@i_go_by_t_now Reallyy omg that's so cute hahah

Love to hear this!! Keep up the good work :)

I hope so too! If she has any questions, she can certainly contact me and I'd be happy to answer. Support@etchedactuarial.com

😂😂😂

@@EtchedActuarial actuary sounds like data science to me, what's the difference?

@@c.d3304 Yeah, right..? Sounded almost the same to me. You take data, interpret it, model it using the programming languages, and use that model to guide customers to proceed in the direction that's beneficial for them. Isn't this basically data science...? I'm 17 and so confused, lol!

No it's not too late! Many people start their actuarial journey at a later age. If you have experience that is somewhat related to actuarial work then that would be very beneficial. This post goes into a bit more detail about becoming an actuary in your 30s. etchedactuarial.com/becoming-an-actuary-at-30-40-or-50/

Just pass exams. That's the most important thing. Quantitative degree and Python/Sql/R/etc. knowledge will help, but 2 exams and the ability to interview well is what you need to get an entry level job.

Hi there! :) It depends entirely on what role the actuary is in!

@@EtchedActuarial right 👌

Thank you! :D

Yes, that's right! In the real world, you'd also take into consideration the different times that she could get into an accident too. One year from now, two years, three years, etc. You'd take the probability of getting in a reck at year one, year two, year three, multiply by the forecasted dollar amount, and discount (due to time value of money). The weighted average of all possible scenarios discounted would give you the premium.

Here are some blog posts that will help answer this: etchedactuarial.com/best-actuary-major/ etchedactuarial.com/actuarial-science/ etchedactuarial.com/best-order-actuarial-exams/ Hope these help!

Thanks John!

Anything finance would be fine - pick what interests you the most! And there are lots of universities that offer actuarial science. However, I don't recommend majoring in AS. There's a post about why here: etchedactuarial.com/actuarial-science/

@@EtchedActuarial Thank you so much. I have also considered data science. Could it help in an eventual career as an actuary intern? Please advice. Thank you so much & happy new year!

@@JustMe-fx1uu Certainly could!

Ya, it's a long road! Worth it for some and not for others. Wishing you best of luck with your PhD!

You're working and getting paid pretty well while you are taking the exams, so it's not like you have to wait to enter the profession until you've complete the exams. A typical student will have 2 exams completed when they start their first actuarial position (typically around 65k per year for first job)

Can you stop after getting an entry level job or do you at some point need to complete all of them

​@@waldo29 You can stop whenever you want to, but your employer might expect/require you to keep taking exams in pursuit of at least one credential (associate or fellowship) in order to stay employed with them. If you do stay employed in an actuarial role, you will likely be very limited in your earning potential.

Hi Ahmad! Actuaries mostly use probability, statistics, and financial mathematics, and they use math every single day! Luckily the math you'll do daily isn't as hard as what you'll probably learn on the exams. I hope that helps! :)

37.286947392761548%

@@EtchedActuarial is this legit

@@FifaMaestroAdam No lol. There's no way of saying how likely it is that you'll lose interest. If you've always loved math and problem solving, then it's probably not something you'll become disinterested in, especially if you've researched the career and it seems like a good fit for you. :)

@@EtchedActuarial well thanks hahaha. I'm 17 right now and kind of clueless

@@FifaMaestroAdam You have some time to figure it out then still! Do lots of research and maybe try talking to some people in the profession to get a sense of whether you'd like it or not.

Hi there! All of my videos are based on the actuarial journey in the US and Canada. Hope that helps! :D

It's hard, but worth it if it's a good fit job-wise for you! :)

The person who is giving the $300 is the person (the insured) hoping to get $5000, if they (the insured) get in an accident within 10 years. The person who is receiving the $300 is the person (insurance company) who will be giving out $5000 if the individual (the insured) does get into an accident within 10 years

Actuary or analyst or teacher basically.

Yes, but good skills to have would be a good foundation or interest in math, statistics and finance. You can read more about whether you will be a good fit for the profession here: etchedactuarial.com/should-i-be-an-actuary/

Yes! The actuarial field has tons of math concepts. So you, majoring in mathematics will give you great advantage in your actuarial journey!

Yes a lot of their work is in Excel.

lawyer

The first few exams do require quite a bit of calculus, but after that it is rarely used.

@@EtchedActuarial could you suggest an appropriate UG Finance major as finance is so vast (accounting / business / economics etc)? Will majoring in *data science* help? If I end up not passing the exams, I want to make sure I can still work in the finance field thanks to my UG major coursework. I was / am very interested in stock & market analysis but you just introduced me to what seema to be a very very interesting field! Thank you for any advice you can give me. Much appreciated!

Yes! Math can be taught and learned. Besides, you should also be someone who's analytical and good at interpreting data. You see, being good at math isn't the only important skill to become a good actuary. As long as you're persistent, highly motivated, and willing to learn, then you're fine and you'll be a great actuary. 😊

Man, honestly if you're not good at math you'll have a super rough time. These exams are brutal. I definitely would not recommend becoming an actuary if you're not good at math unless you have extremely good work ethic (i.e. studying for hours everyday for years). Still, some of the exams are functional math IQ tests, testing your problem solving ability as much as your knowledge on the subject. This is especially what the exams are like as you go higher up. You can definitely pass the first few exams with enough work, but you might be limited at a near entry level position if you can't pass the higher level exams. You can still make good money in that position, but it's not a place I would want to be stuck at. Some people can not pass these higher up exams, even being good at math. I've seen people fail fellowship exams multiple times and give up.

It really depends on what you're comparing to. But fully qualified actuaries do earn a good salary!

There are procedures that companies follow to investigate accidents.

Thanks for watching!

Hi Parth, you can start by researching banks and other financial institutions that hire actuaries. From there you can take a look at their job postings to see what requirements they need or reach out to someone for a quick coffee chat!

@@EtchedActuarial Thank you for responding:-)

It's definitely a long process with all the exams, but doable if you set your mind to it and stay motivated

@@EtchedActuarial ok mam trying to get into it One more question mam Does it includes categories for exam ranks or that like stuff

@@ramadeshpande311 I'm not sure what you're referring to but the process is different depending on where you want to work as an actuary

@@EtchedActuarial got it mam And glad that you are taking comments into consideration cauz in many of the channels we keep commenting and no one responds Thank you so much😊

@@ramadeshpande311 You're very welcome 😊 Good luck!

Yes the questions are difficult, and you will have to learn a lot of material before taking the exams. It can take hundreds of hours to become fully prepared!

It's not too late to start now if this is the right career for you! kzfaq.info/get/bejne/b62cepZetcXGfqs.html

Actuary can definitely be described as a tough career. It requires a lot of problem solving skills and critical thinking on the job. Additionally, you'll have to be motivated to complete the actuarial exams and develop relevant skills. However if you are someone who enjoys challenges and love working with math, it can also be a very rewarding career. You can read more about whether it would be a good fit for you here: etchedactuarial.com/should-i-be-an-actuary/

Put data into excel sheet and get insurance price. Manage excel pricing models when you pass enough exams.

@@OakQueso ty!

Yikes, sorry about that! I hope you enjoyed the video though!

@@EtchedActuarial I very much enjoyed the video. Thank you for your efforts.🙂

Hello! :)

They do!

Oh cool! I'll definitely have to check this out! Thanks for sharing! 😊

True but pretty much every actuary I know loves their job!