Let's get to know the actuarial profession.

What is an Actuary?

An Actuary is a professional specialized in solving complex financial problems and is in high demand by various companies. Actuaries calculate and manage risk, requiring in-depth knowledge of mathematics, statistics, and business management. With this knowledge, actuaries enable companies to grow and build their customer base.

Who is this profession suitable for?

Those suited to be actuaries must have a passion for mathematics and finance. They must be determined to become an actuary, diligent, and patient, as this profession requires passing specific actuarial association credentials, which consist of multiple levels.

How to become an actuary?

You must pass the exams of the Casualty Actuarial Society (CAS) or the Society of Actuaries (SOA). Here, we will focus only on the SOA as it is more popular, and many exams between the SOA and CAS are mutually recognized as equivalents. The SOA association exams consist of 10 components in total. If you pass all 10 components, you will receive a certificate as a Fellow of the Society (F.S.A), which is the highest credential in this career path with globally recognized standards. Achieving ASA and FSA status from the SOA makes you recognized under professional standards, enabling you to work in life insurance companies and related organizations worldwide, with relatively high compensation.

Is it necessary to graduate directly in this field?

For the actuarial profession, you do not need to graduate directly in actuarial science. As long as you pass the SOA or CAS exams, you can work as an actuary. It can be confidently said that passing the exams is more important than a degree certificate.

What are the first few exams that must be passed?

The first few exams you need to pass are P (Probability) and FM (Financial Mathematics). If you pass SOA - P and SOA - FM, the opportunity to become an actuary is well within reach.

What is the key factor to passing the exams?

The most important factor in passing these exams is determination, intent, diligence, and perseverance. Actuarial Tutor wishes everyone the best for the exams and is more than happy to help everyone pass together.