urgent

arifa · 10-30-2003, 09:08 PM

i am arifa, a student of dha degree college, in second year,pre engineering i dunno whether my mesg got posted or not, i just wanted to ask you how do we have to study on our own and how do we get the course and give the exams? are female actuaries allowed in pakistan? can u send me the handbook when u get it in november? my hotmail id is [email protected] and the yahoo one is [email protected]

A.Nusrat

jbladeus · 10-30-2003, 09:54 PM

Hi arifa

Ofcourse, there is no restriction on females to go for actuarial sciences here in Pakistan.

As far as my limited info on this subject goes, yes one does have to study on their own. The info regarding the course and exams i guess will be provided to you by our moderator sumaaan who i believe is as close to an actual actuary <img src=icon_smile_tongue.gif border=0 align=middle> which you will come across on this board! <img src=icon_smile.gif border=0 align=middle> You can join Ford Rhodes Sidat Hyder & Co which i believe is the only firm in Pakistan which takes in Actuarial trainees.

________________________
Arrrgh... it sure's gonna be mighty rough sailin' today ... mates!

sanan_bukharee · 10-31-2003, 10:46 PM

salam arifa
just like u i m also pre_engg student.facing same problems,dont know what to do.So i cant give any suggection but requesting u if u get any information about actury pz email me.
Also sumaan bhaee pz send me the hand book of acturies.
my adress is sanan2003@hotmail.
thanks alot all brothers and sister who r helping us here without any <nafa>.
ok alah hafiz and ramzan mubarak

bukharee

sumaaan · 11-01-2003, 02:50 AM

I hope you've gone through the old Actuarial Sciences thread which was on the forum... The information on that thread is still not 'old' and explains the study of Actuarial Sciences in brief depth...

For the Actuarial Sciences handbook, please make a request on [email protected] ... However, a new edition of the handbook will be available in a few weeks time, and will be made available on the forum... If you still wish to get the current edition, request a copy at the above mentioned email address and make sure you have at least 714 KB of free space in your mail inbox...

Regarding the study of Actuary, yes you have to study by yourself and go through all the topics by your own self... Regarding the on-job training, its not compulsory to do it, but in the end it helps you as you might require it to get good jobs and also for further fellowships and all... The most popular Actuarial Sciences student training company/firm is Statelife currently... Nonetheless, there are other trainees in firms like Forde Rhodes Siddat Haider as mentioned by Guybrush, and various other insurance companies as well (Adamjee Insurance)...

If you're planning to do Actuarial Sciences, make sure your family doesnt have any financial liabilities or might not be requiring financial assistance from you for the next 6-8 years minimum or so... Also bear in mind, contrary to what a lot of people have 'highlighted', Mathematics is not the ONLY thing you have to be good at while doing Actuarial Sciences, you also have to study economics and accountancy a great deal.

sagar · 11-01-2003, 08:54 PM

dear sumaaan ,
i m very much impressed from ur services , u r very helping .
i wanted to ask you a question about statelife's criteria . According to their advertisment two or three days back ,they only require those candidates who hav got a min of 75%in inter n 80% marks in maths ,although i hav got 68%in inter n 75% in maths n i hav heard from my uncle ( he's AGM/Zonal head in STATELFE INSURANCE CORP.)
that they take those candidates who hav passed their inter with more than 80% n with more than 90% marks in maths .I actually wanted to go for Actuarial sciences either here or in abroad, theze daz i hav doing MFC-A (chartered Accountancy), so plz temme if there is any alternative or another solution .
Waiting for ur reply .

sagZ

sumaaan · 11-02-2003, 01:52 AM

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
dear sumaaan ,
i m very much impressed from ur services , u r very helping .
i wanted to ask you a question about statelife's criteria . According to their advertisment two or three days back ,they only require those candidates who hav got a min of 75%in inter n 80% marks in maths ,although i hav got 68%in inter n 75% in maths n i hav heard from my uncle ( he's AGM/Zonal head in STATELFE INSURANCE CORP.)
that they take those candidates who hav passed their inter with more than 80% n with more than 90% marks in maths .I actually wanted to go for Actuarial sciences either here or in abroad, theze daz i hav doing MFC-A (chartered Accountancy), so plz temme if there is any alternative or another solution .
Waiting for ur reply .

sagZ
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

Getting into Actuarial Sciences itself is not less than a 'Jihad'...

There was an advertisement in Dawn Advertiser last Sunday by Statelife regarding Actuarial Sciences trainees... The requirement for Intermediate students mentioned was 75% in Intermediate Pre-Engineering and 80% in Mathematics.

Your uncle might have meant that it would be better if one gets marks as mentioned by him...

If you ask for my suggestion, I say you go on with CA as you've now started it... You could've opted for BSc. in Actuarial Sciences which currently Karachi University offers, however, I'm not familiar with their requirements... They must be more or less same like StateLife's trainee requirements... It is a four year programme... But I don't think you can cope up with CA and Actuarial Sciences both at the same time... You will have to do your CA articles as well... So you have to make a choice...

You can continue with your CA, while at the same time appear for the BSc. in Actuarial Sciences pre- entry test... If you clear it, then you have a choice of doing Actuarial Sciences and your 'opportunity cost' will be CA...

You see, either way, you're going to be tied up for 6-8 years or even more (CA and Actuary)... And if at a point you decide to change your field and do something else instead, you might not have the option of doing so...

So take all the factors into account... Go through your family commitments, financial liabilities and your age as well... Contrary to what some people say, 'age factor' counts a lot.

sagar · 11-07-2003, 06:33 PM

dear sumaaan ,
gud to get ur reply.yup i hav gathered lotsa info. about diz JAHAD, so m ready to fight in dat.
I heard abt the KU's BSC in ACTUARIAL SCIENCES from STATELIFE dat their department is new n still dey don hav da proper faculty for dat .But as their department in registered with SOA US ,they don require so high criteria,isnt dat ? Lemme know onethg tht if i join KU ,then its degree is totally eqivalent to dat one at Statelife or nt? or it has less value?
If i get admitted dere ,then i wont go for CA.do u know when do dey conduct E.TEST?
finally , i hav decided diz taking all factors into account .
n haan abhi tu bali umar hai..............................kidding

sagZ

sumaaan · 11-07-2003, 11:56 PM

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
dear sumaaan ,
gud to get ur reply.yup i hav gathered lotsa info. about diz JAHAD, so m ready to fight in dat.
I heard abt the KU's BSC in ACTUARIAL SCIENCES from STATELIFE dat their department is new n still dey don hav da proper faculty for dat .But as their department in registered with SOA US ,they don require so high criteria,isnt dat ? Lemme know onethg tht if i join KU ,then its degree is totally eqivalent to dat one at Statelife or nt? or it has less value?
If i get admitted dere ,then i wont go for CA.do u know when do dey conduct E.TEST?
finally , i hav decided diz taking all factors into account .
n haan abhi tu bali umar hai..............................kidding

sagZ
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

After the Bsc. in Applied Accounting (4 years), one is entitled to exemptions from 5 or 6 courses of the Society of Actuaries which in total has 9 courses...

After the BSc or the MSc in Actuarial Sciences (no course available in Pakistan), a person CANNOT call himself/herself an Actuary... After that, one must complete the remaining modular courses from the Society of Actuaries (USA) or the Institute of Actuaries (UK) to become an Actuary.

Which means, that after you complete your BSc. in Actuarial Sciences from KU, you will NOT be held anywhere equivalent to a person who 'is an Actuary' from Society of Actuaries or the Institute of Actuaries...

So if you happen to do your BSc. in Actuarial Sciences from KU (visit this link for admissions information http//www.ku.edu.pk/admissions/eveadm2k3.html ), then it will take you minimum 3-4 MORE years to become an Actuary (from Society of Actuaries)... Which means a minimum of 8 years in all...

I don't mean to discourage you, but every Actuary you meet will always tell you, 'In Actuarial Sciences, you FAIL somewhere. Its not that you may, but you WILL.'

So just keep in mind that you are going to faulter somewhere so that you don't get disappointed later on, because you will not have any degree/qualification on which you can fall back upon as you're planning to leave CA Inter...

Secondly, the last 4 or 5 courses of Society of Actuaries (USA) are held only once a year... So if you fail once, you'll have to wait a whole year again.

If you're very determined to do Actuarial Sciences, my advice, just keep in mind that you will complete it in 10-12 years and not less than that.

sagar · 11-11-2003, 01:54 AM

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>

If you're very determined to do Actuarial Sciences, my advice, just keep in mind that you will complete it in 10-12 years and not less than that.

<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

how can u say dat it ll take min of 10-12 yrs ,thts a long period.

sagZ

sumaaan · 11-11-2003, 04:09 AM

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>

If you're very determined to do Actuarial Sciences, my advice, just keep in mind that you will complete it in 10-12 years and not less than that.

<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

how can u say dat it ll take min of 10-12 yrs ,thts a long period.

sagZ
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

The first 4-5 course examinations of Society of Actuaries are held twice a year and the rest only once a year... Which makes it minimum of 7-8 years IF you clear all the examinations in the first attempt provided that you appear for the exams in EVERY examination session, which quite frankly speaking is virually impossible.

If you fail to clear the courses in the end, you have to wait a whole year to give their examination.

Again, I don't mean to discourage you or anyone, but only a few students become fully qualified Actuaries in 10-12 years, majority of them are never able to do that...

So consider it a virtual career suicide... TAKE ALL THE FACTORS INTO CONSIDERATION BEFORE YOU TAKE ANY STEP... Because a lot of people are drawn towards the fact that Actuaries are highly paid, and don't consider how big a career risk the study of RISK MANAGEMENT (Actuarial Sciences) itself is.