Bix Boikanyo sebogodi go to soa.org, basically you have to pass a bunch of difficult math tests, with annoying financial jargon. Once you figure out what the question is asking it's fairly easy for a math major like myself.
There's a lot of click bait on YT in terms of this profession and this is the first video that's given me the confidence to take my BA in Mathematics and jump into this as a career. Thank you.
I can tell they are very passionate about their career and the fact that the two are a married couple somehow means that they also found their half because of actuary too. Very inspiring seminar!
I am starting my studies in actuarial economics and Im excited to see where this journey leads me. Both the people were so well spoken and so articulate with their words. I intend to be like that one day.
... what is the mathematical probability that out of the the tens of thousands of maths graduates around the world most will end up working at Kentucky Fried Chicken?
GARY Paul Simon SHAW Well working at KFC is obviously bernoulli with probability p. So it's mean is p and variance is p(1-p). So tens of thousands (n) graduates have mean np and variance np(1-p). You want the probability that most will end up at KFC so prob(x>n/2) and then you just normalize it and take the compliment and find the probability on the z-table and boom there's the answer
If I have a Bachelor's in Finance and have passed Exam P and Exam FM, is that enough to began applying for actuarial positions? Is there a separate program I need to go through?
yes, usually two exams are ideal for EL positions. Though, getting a degree in pure math or applied math is better preparation for the questions in P and FM. Getting a finance degree is fine, but you will struggle with the logic and abstract aspect of the math in actuarial science.
didnt even watch the video, but i want to tell you its probably up to date, if you think that there are still bs corporate that still use .xls instead of .xlsx files
Majority of actuarial jobs are in insurance companies (around 90%). some banks hire actuaries too. I saw NYS hiring actuaries as well so states might be interested as well. You can get a data analyst, actuarial analyst, statistician, risk analyst or financial analyst job with it.
Is it necessary to have experience or a degree in a specific field, such as healthcare, insurance, etc or is that just something you learn as you work the business (specific field)?
@M Im worried about the amount of math that actuaries use. Ive seen posts online stating that at some point in their work, actuaries will only use addition and subtraction which is kinda difficult to look at as I have high hopes for this course. When I think of actuarial science, I think of hardcore maths like calculus and maybe some other pure maths stuff. Of course, I'm aware there's statistics involved. I just wish there's more pure maths stuff in there. Another problem I'm having is whether to take a math degree or an actuarial science degree. For example: if I take maths and maybe economics VS actuarial science, which would be better in terms of coping with the 15 exemptions and employment prospects? I would really wish to learn math generally than specialising in actuarial science alone. However if the latter is better, I would certainly love to just take Actuarial Science. Just recently I have also seen that employment rate for actuaries is ACTUALLY low. There is high supply of actuarial science graduates but low demand. Despite seeing list after list of websites indicating good growth of this career for the next 20 30 or so years, I was still worried after seeing someone stating this (This was on Quora, a user which he claims to be an actuary posted this) I would appreciate it if you could give me some advice for these three concerns I have.
@M Why does it sound like actuaries are just appointed to do little work from different areas such as accountant and statistician. What different are we from them?
@M I do not wish to be a teacher but at the same time I do not wish to leave pure maths. Since you are way older and experienced than me, I want to ask if it's even possible to be a math lecturer and at the same time, get another job like in the medical region or engineering region? This is the only way to meet my goals I think.
+97jimmy97 I do not think you can get all exemptions. Here is the link for all the universities that offers the mathematics or actuarial science and what exemptions you can get. Check if your university and course is listed too. If it is not then you wont get exemptions :( www.actuaries.org.uk/becoming-actuary/university-courses
I think u can only get few exemptions throughout ur degree. Others u may have to sit for it when u begin to work upon finishing the degree. The company will pay for all ur remaining exams.
I did pursued my degree in actuarial science hearing that it is the best job in America, and it has a 0% unemployment rate. I graduated with a near 4.0 GPA, and passed 4 actuarial exams, only to find myself unemployed. I was lied to, there is only a 0% unemployment if you had 5 -10 years experience. This field is impossible to break into with no experience. I switched to another career and had much success, but I still regret wasting 4 years of my life on this useless degree.
+john m What career did you transition into if you don't mind me asking? I'm going to be studying math in university and wanted to pursue an actuary career. It seems to be a bit of a hurdle gaining the experience however. I love maths though.
In regards to the lottery comment, what's the odds you will make 15-20+ million in your lifetime as an actuary? Not to mention in 1 lump sum. People throw away more on premium coffee and cigarettes or alcohol with very little value added.
Jacob Renkas the fact that a salary will change with inflation as it is over time compared to the lotto lump sum means that actuaries will generally make more money for the probability of winning the lottery
Mr. Goodnoodle _Keep doing what you're doing. _Study in school AND OUTSIDE OF SCHOOL. _Do more than is required in your homework. _buy practice math books and do all the problems in them _stay disciplined _be able to proof your maths
So dull. If have a maths degree better go for a masters in finance or real estate investment with something like CAIA or CFA for a more interesting career path.
Hi, could u explain CAIA and CFA, I'm now preparing to apply for a course and am looking into actuarial science. But I seem to like pure math a bit more than statistics so I might just do a math degree before deciding again just to make sure.
+Nathan Bradford Nope. Actuaries do the mathematics behind insurance. Insurance protects people from risks. If your house burns down, insurance rebuilds it. If your father dies, insurance continues to support your family. It adds so much value to societies that the corporation who offer insurance create wealth for themselves. Insurance reduces poverty and helps people to worry less about the consequences of disasters.
Actuarial science is essentially a degree in mathematics with a focus on probability and the creation actuarial models. If you prefer numbers to business classes then definitely go that route, you'll be more well rounded. Both degrees prepare you for different things, and aren't exactly interchangeable. You aren't going to know how to pass your CFAs or CMTs taking math courses. I will say that it's much easier to be more well rounded the actuarial science route.
Actuarial science is nowhere near a degree in mathematics. Actuarial mathematics is rather elementary and the degree of probability theory you need is basic. That doesn't mean passing the exams is easy but let'a not pass it off as advanced maths because I can assure it's not.
Watched this a few years ago and went in to it. Now a fellow. :)
What is your day to day workload like? Was it difficult to be hired?
congratulations
Congratulations
... 28 yeah in our movie....
Very informative. Thank you.
I am a qualified Actuary. Cheers
Whats the benefits of the job?
so i am currently studying applied mathematics and mathematics, what should i do to get to actual science? after my degree
Bix Boikanyo sebogodi go to soa.org, basically you have to pass a bunch of difficult math tests, with annoying financial jargon. Once you figure out what the question is asking it's fairly easy for a math major like myself.
Bix Boikanyo sebogodi Look at writing an exam called CT1 first :-)
Title of the video: What does an actuary do? *Learn from the experts*
The experts: **Proceeds to take out a Dr.Seuss book**
Hui
This man's face really looks like the prototype of an actuary face
Man, I'm looking into actuary now and I can imagine my face being like his.
Don't worry money will get u women!
@@oneinabillion654 good luck man it’s a tight job market. You better have a 4.0 or know the owner of the company
@@deangulberry1876 or pass all your exams lol
😂
Getting paid to study and take exams? Hmmmm, I may be on to something good
There's a lot of click bait on YT in terms of this profession and this is the first video that's given me the confidence to take my BA in Mathematics and jump into this as a career. Thank you.
How did it go?
Yes how did it go??
I can tell they are very passionate about their career and the fact that the two are a married couple somehow means that they also found their half because of actuary too. Very inspiring seminar!
Thanks for the upload, this could be the beginning of anybody's career.
I am starting my studies in actuarial economics and Im excited to see where this journey leads me. Both the people were so well spoken and so articulate with their words. I intend to be like that one day.
I am currently studying for my actuarial career and this motivated me a lot. Thank you!
Update?
The lottery gets taxed but so does the actuary's salary. In other words, no one gets exempt from uncle Sam.
I am 14 years old in class 8 and I think I just found my future cureare 👍👍👍😀😀
NinjaHD Gamer so i see you’re good at math eh
Woah year 8! I'm in year 12 and I'm still trying to figure out what I wanna do
Ya better have a 4.0 gpa or no one will hire you
1:10 *SPOILER ALERT* The Actuary (2017) starring Ben Affleck
actuaries deal with
1.Probability
2.financial outcomes(or consequences) to determine premiums and then
3. present value
👍👍 all doubts cleared about this profession!
komal arora Hi! So, did you decide to pursue a career in actuarial sciences?
And there are only around 250 actuaries in India
It sounds interesting! Thank you :)
I'm thinking of applying into an Applied Mathematics course..
Great choice of career if you like maths and problem solving
...and pseudo mathematics designed to hide macroeconomic criminality that also props up a fictional and fraudulent monetary system👍🥴🤡
Pure love. Thanks for the info.
Greetings from Mexico.
Only 14. Wow. 100? Still not a lot. Shows you how much Americans love math.
Only in this institute I guess
This was so beneficial! Thank you.
@23:25 the link here is th-cam.com/video/ZCyKKMf9KYY/w-d-xo.html&feature=player_embedded
How about demonstrating how actuaries work in nonprofit or counter institutional interests?
Crazy that both actuaries have the same last name
At the end she mentions that they are husband and wife btw :)
Very helpful and also quite inspiring!
... what is the mathematical probability that out of the the tens of thousands of maths graduates around the world most will end up working at Kentucky Fried Chicken?
GARY Paul Simon SHAW Well working at KFC is obviously bernoulli with probability p. So it's mean is p and variance is p(1-p). So tens of thousands (n) graduates have mean np and variance np(1-p). You want the probability that most will end up at KFC so prob(x>n/2) and then you just normalize it and take the compliment and find the probability on the z-table and boom there's the answer
.... Well done ... you read my mind (-:
+John Smith and what is it in normal language?
Very low lol
Nope! You just have to commit to studying hard!
We are Unique ...I love it !
Is the pamphlet he mentions at the end available in pdf?
I'm doing mathematics, physical sciences, life sciences and geography in high school. Can i do actuarial science at university?
Yes most likely
can i have that ppt file?
Thanks for taping this lecture.
If I have a Bachelor's in Finance and have passed Exam P and Exam FM, is that enough to began applying for actuarial positions? Is there a separate program I need to go through?
yes, usually two exams are ideal for EL positions. Though, getting a degree in pure math or applied math is better preparation for the questions in P and FM. Getting a finance degree is fine, but you will struggle with the logic and abstract aspect of the math in actuarial science.
Wow what a career
Living in Florida my entire life, I laugh when I hear people call Hurricane Sandy a "Super Storm". I'm like "In Florida, we call that October".
👍🏽✊🏾
Just to confirm from what I understood from the video; actuararies deal with statistics, probability and optimization?
I'm about to start my alevels can someone tell me qhat subjects i should take to become an actuary
What a levels did you do!? and what are you studying right now?
6:39
Probability
Consequence
Present Value
Things that go wrong
- death 💀 ⚰️ 🪦
- injury 🤕
- broken 😞
13:03 Predictive Modeling
didnt even watch the video, but i want to tell you its probably up to date, if you think that there are still bs corporate that still use .xls instead of .xlsx files
Thank you for posting! I found this information very helpful.
Sounds more like Risk Management and Insurance
126th comment
thank you for the video
How long does an actuary course take?
Most difficult question in the world😂😂😂
After graduating from college with the actuarial degree what job am I qualify for?
funny videos
@@shammahmazodza393 you were not ask the question therefore I need no answer from you.
Majority of actuarial jobs are in insurance companies (around 90%). some banks hire actuaries too. I saw NYS hiring actuaries as well so states might be interested as well. You can get a data analyst, actuarial analyst, statistician, risk analyst or financial analyst job with it.
nice suit
Thanks for this !
Is it necessary to have experience or a degree in a specific field, such as healthcare, insurance, etc or is that just something you learn as you work the business (specific field)?
@M yes
@M hey I have questions to ask u. Finally I found an actuary to talk to
@M Im worried about the amount of math that actuaries use. Ive seen posts online stating that at some point in their work, actuaries will only use addition and subtraction which is kinda difficult to look at as I have high hopes for this course. When I think of actuarial science, I think of hardcore maths like calculus and maybe some other pure maths stuff. Of course, I'm aware there's statistics involved. I just wish there's more pure maths stuff in there.
Another problem I'm having is whether to take a math degree or an actuarial science degree. For example: if I take maths and maybe economics VS actuarial science, which would be better in terms of coping with the 15 exemptions and employment prospects? I would really wish to learn math generally than specialising in actuarial science alone. However if the latter is better, I would certainly love to just take Actuarial Science.
Just recently I have also seen that employment rate for actuaries is ACTUALLY low. There is high supply of actuarial science graduates but low demand. Despite seeing list after list of websites indicating good growth of this career for the next 20 30 or so years, I was still worried after seeing someone stating this (This was on Quora, a user which he claims to be an actuary posted this)
I would appreciate it if you could give me some advice for these three concerns I have.
@M Why does it sound like actuaries are just appointed to do little work from different areas such as accountant and statistician. What different are we from them?
@M I do not wish to be a teacher but at the same time I do not wish to leave pure maths.
Since you are way older and experienced than me, I want to ask if it's even possible to be a math lecturer and at the same time, get another job like in the medical region or engineering region?
This is the only way to meet my goals I think.
Beautiful career
great information !
thanks for this!! ^_^
Soul crushing
Hi
classrooms looks scary
Excellent presentation!!
Very well briefed about an Actuary.
Thank you for sharing this.
im studying a degree in mathematical statistical and actuarial sciences, if i pass them all will i still have to take more exams to be an actuary?
+97jimmy97 I do not think you can get all exemptions. Here is the link for all the universities that offers the mathematics or actuarial science and what exemptions you can get. Check if your university and course is listed too. If it is not then you wont get exemptions :( www.actuaries.org.uk/becoming-actuary/university-courses
+97jimmy97 Yes, not many universities offer the Fellowship courses
I think u can only get few exemptions throughout ur degree. Others u may have to sit for it when u begin to work upon finishing the degree. The company will pay for all ur remaining exams.
Highly educational
25:11
He's pretty funny!
I like it
*alumnus
he looks alot like ben afleck
more like steve, dj's bf from Full House lol
Want to go here! :)
Very interesting
Hearing Americans pronouncing "Notre Dame" makes me cringe
Thgink Krad
Nobody cares. Stay in France and stick to French universities then.
It's bloody awful.
Actually sad now
low empathy
The lady has a nice backside.
and nice front side as well
What the
%@&#
I did pursued my degree in actuarial science hearing that it is the best job in America, and it has a 0% unemployment rate. I graduated with a near 4.0 GPA, and passed 4 actuarial exams, only to find myself unemployed. I was lied to, there is only a 0% unemployment if you had 5 -10 years experience. This field is impossible to break into with no experience. I switched to another career and had much success, but I still regret wasting 4 years of my life on this useless degree.
+john m What career did you transition into if you don't mind me asking? I'm going to be studying math in university and wanted to pursue an actuary career. It seems to be a bit of a hurdle gaining the experience however. I love maths though.
I know this is an old post, but what degree or career path did you go into instead?
You must be awful with interviews and highly unlikable
Perellie haha I like your honesty
Perellie
You must be an actuarily challenged asshat.
In regards to the lottery comment, what's the odds you will make 15-20+ million in your lifetime as an actuary? Not to mention in 1 lump sum. People throw away more on premium coffee and cigarettes or alcohol with very little value added.
Jacob Renkas the fact that a salary will change with inflation as it is over time compared to the lotto lump sum means that actuaries will generally make more money for the probability of winning the lottery
Except that if you pay $8 for a coffee, you are guaranteed to get coffee. If you spend $8 on lottery tickets you are not getting anything for it.
Hey I am in 6th grade doing 7th grade math so I am on track any like comets or advice for me
Mr. Goodnoodle
_Keep doing what you're doing.
_Study in school AND OUTSIDE OF SCHOOL.
_Do more than is required in your homework.
_buy practice math books and do all the problems in them
_stay disciplined
_be able to proof your maths
Please keep doing what you're doing. I'm proud of you
Learn how to spell comments also.
High school is a scam. take the GED once youre in 8th grade and go straight to college
So dull. If have a maths degree better go for a masters in finance or real estate investment with something like CAIA or CFA for a more interesting career path.
Hi, could u explain CAIA and CFA, I'm now preparing to apply for a course and am looking into actuarial science. But I seem to like pure math a bit more than statistics so I might just do a math degree before deciding again just to make sure.
I need help getting a job.
Can someone help me out?
actuaries...the people that crunch the numbers for our greedy corporations that make life a living hell sometimes. sweet!
+Nathan Bradford Nope. Actuaries do the mathematics behind insurance. Insurance protects people from risks. If your house burns down, insurance rebuilds it. If your father dies, insurance continues to support your family. It adds so much value to societies that the corporation who offer insurance create wealth for themselves. Insurance reduces poverty and helps people to worry less about the consequences of disasters.
Cry harder.
actuary is a cowards way of becoming an entrepreneur
Is studying finance or studying actuarial science better?
Actuarial science is essentially a degree in mathematics with a focus on probability and the creation actuarial models. If you prefer numbers to business classes then definitely go that route, you'll be more well rounded. Both degrees prepare you for different things, and aren't exactly interchangeable. You aren't going to know how to pass your CFAs or CMTs taking math courses. I will say that it's much easier to be more well rounded the actuarial science route.
Actuarial science is nowhere near a degree in mathematics. Actuarial mathematics is rather elementary and the degree of probability theory you need is basic. That doesn't mean passing the exams is easy but let'a not pass it off as advanced maths because I can assure it's not.