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How to Become an Actuary

Published by Nanni on Friday, July 06, 2012

Photo credit by Peter

Do you like to crunch numbers? Would you like to be someone who looks over potential financial gains and risks for a business or industry? If so, you might be interested in a career as an actuary. Actuaries often work in the insurance industry helping companies set their premiums based on facts and figures. You will need to be someone who will not mind spending a lot of time completing your education.

It takes years to become an actuary. While you are completing the necessary requirements, you can start work in other financial related careers. When you are in high school, you will want to take advanced math courses. If you are able to do so, you will want to complete advanced placement courses. Successfully complete courses in statistics, calculus and other related math classes.

It will be time to head off to college to start on the next leg of your journey to become an actuary. You can complete a Bachelor’s degree in one of several different fields if you want to become an actuary. You can major in degrees such as finance, accounting, economics, statistics or mathematics. You can search for a job after completing your degree to provide you with an income and career opportunities while you complete your training to be an actuary.

Before you can becoming fully certified as an actuary, you will need to take several different exams It often takes ten years (and in some cases even longer) to prepare for and take all of these examinations. You will need to successfully pass 7 exams before you will be an Associate actuary. In order to receive the distinction of "Fellow", you will need to pass another two exams.

You might find that you can be employed in the actuary field before you have passed all exams. It will depend on the particular employer and the regulations in your state of residence. You will be hired on the understanding that you will continue preparing for your tests and that you will successfully completely all necessary exams over time.

A career as an actuary is not an easy one to enter into. It takes a great deal of time and hard work to fulfill all requirements. You must have a love for numbers and not mind working with numbers to evaluate risks and losses all day long. The tests that you take to become an actuary will not be easy. They will require a lot of concentration and preparation for you to complete them successfully.

Your path to a career as an actuary can actually start back in high school. You will want to take as many math courses as possible. The path to a career as an actuary will extend another decade or so past the time you graduate from high school. It will be a long but rewarding journey if you are set on working in that career field. With time, patience and dedication, you can achieve your goal of becoming a fully certified actuary.

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