Actuaries specialize in financial risk, liability, and asset management. To become an actuary, one must have strong math, business, and communication skills. A degree in actuarial science and passing necessary exams are required. Liberal arts classes are also recommended. Most actuaries do not pursue higher education after a bachelor’s degree.
An actuary is a professional who provides solutions to financial problems within a company. The actuary specializes in financial risk, liability and asset management. There are numerous steps to earning an actuarial degree, starting with high school preparation. Once an individual obtains an actuary degree and passes the necessary exams, he or she can work as an actuary.
An actuary must be independent, practical, innovative, resourceful and versatile. He or she must be a good communicator and must be able to apply a well thought out solution to a complicated problem. If a person has these qualities and decides to become an actuary, preparation can begin in high school. The student should take as many math courses as possible, especially advanced classes like calculus and statistics. Also, computer science classes are a good idea as actuaries work with computers on a daily basis and need solid skills here.
The actuary degree requires a university education based primarily on mathematics and business. If college does not award an actuarial degree, consider obtaining a bachelor’s degree in business or mathematics. Additionally, some schools may focus more on science and award students an actuarial science degree. The course will consist mainly of math, business and communication classes.
An actuarial degree requires successful completion of courses in these areas, because the work involved is a cross-genre mix. Math classes are heavily based on statistics and probability, while business courses impart the basics of finance, accounting, and economics. Communication courses help those pursuing actuarial degrees acquire those skills necessary for an actuary to deal with people and get results. Examples of courses offered in this field include speech and business communication. Some computer science courses are also required to enhance a student’s understanding of how technology aids this career path.
A degree in actuarial science should include some additional liberal arts classes. This will give the actuarial diploma recipient a broad spectrum of knowledge about anything he or she might encounter on the job. Outside of each institution’s unique liberal arts requirements, earning an actuarial degree typically requires three semesters of calculus, two of statistics, three of economics, one of finance, and one of business communications.
Actuarial science degrees prepare the individual for the exam that must be passed before a person can become an actuary. Most actuaries do not pursue higher education after a bachelor’s degree. A list of universities offering actuarial degrees and scholarship help can be found on the Internet.
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