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Actuarial Science Courses

Actuarial science course is not known by many students, but it is a field that is well suited for the commerce students. The Actuarial science is the study of application of statistics and mathematical methods that involves risk management in the financial institutions like banks and financial sectors. The course was introduced in India in 2002 and not many colleges are found who teach Actuarial science.

The course study involves applying of mathematics and statistical methods that are related to the business management and insurance problems. The course study involves instructing students on quantitative and non quantitative risk management, forecasting theory, expansion of risk tables, computer assisted research, secondary data analysis, economic risks in the business sector as well as insurance field.

A person who has completed his graduation in first class with mathematics or postgraduates is well qualified for a career in Actuarial science. The course study requires systematic approach to solving problems, devotion, integrity, dedication are the qualities that are required to qualify and earn a degree in Actuarial science. One has to study probability, finance, statistics ad economics that helps in solving the problems in any business facility. The career involves the candidate to analyze the financial consequences of certain risk related decisions.

An Actuarial profession is a well recognized career globally and has worldwide affiliated course. It includes wide applications of actuarial science in several fields. The free structure of the course is affordable. The job is highly rewarding for those who love intellectual challenge. Actuarial science profession provides job satisfaction, professional status and respect and a very high earning.

Current Scenario of Actuarial Science Course in India

Actuarial science is a new career and is now taking shape in the business and banking field. In fact, they are the highest paid professionals that are found in the world today. A fresher can actually get paid around Rs. 10,00,000 per annum. The job is highly rewarding in any part of the world and is in demand due to lots of vacancies as it is a skilled job that required a qualified person to solve risk involved problems.

Major Actuarial Science Examinations in India

There are a number of universities that offer an undergraduate course and post graduate courses in actuarial sciences. The eligible age is 18 years and above and for those who are proficient in statistics and math. The candidate should complete 12th in the commerce stream. The admission for the Actuarial science course will be based on the merit scored in the entrance exam held by the various institutions. List of entrance exams are given below.
  • Actuarial science entrance exam
  • Institute of Actuaries of India entrance exam
  • Actuarial society of India entrance exam

Top Actuarial Science Colleges in India

There are several colleges in India that teach Actuarial science. One can opt for a graduate course B.A. in Insurance, or Bachelor of Science in Actuarial science. There are post graduate courses in the institutes as well like the M.S.C. in Actuarial science, Master's program in Insurance Business, M.B.A. in Actuarial science, Post graduate diploma in Actuarial science, and many more. Below is a list of top colleges for Actuarial science.
  • Aligarh Muslim University
  • Amity School of Insurance and Actuarial Science Noida
  • Manipur University
  • Birla Institute of Management Technology
  • Bishop Herber College
  • University of Madras
  • University of Kalyani
  • Gurunanak Dev University
  • Jaipuria Institute of Management
  • RNIS College of Insurance

Last Updated on : March 25, 2016