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March 29, 2024, 05:15:04 pm

Author Topic: Actuarial studies  (Read 68372 times)  Share 

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tram

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Actuarial studies
« on: March 07, 2010, 11:13:25 am »
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Hey, i was wondering if anyone can tell me a bit more about Actuarial stidies e.g. how hard it is, what type of subjects you do,if people have enjoyed it, ect. because i am concidering doing it next year. I do really enjoy maths, and this career has been suggested to me by a few people and i just wanted to find out a bit more about it.

Any and all info/advice would be greatly appreciated:)
« Last Edit: March 12, 2010, 06:01:11 pm by tram »

Gloamglozer

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Re: Acturial studies
« Reply #1 on: March 07, 2010, 12:53:48 pm »
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Firstly, you can major in Actuarial Studies through the Bachelor of Commerce at the University of Melbourne (UoM).  Another option is that Monash University has recently introduced this new major through their undergraduate Commerce degree.  The only thing is that it is currently under review and hasn't been fully accredited yet.

At UoM, the degree is 3 years and if you have high grades, then you can do an honours year which extends your degree by one year.  You have to also remember that to work as an actuary in Australia, you need to be accredited with the Institute of Actuaries of Australia (IAAust).  It usually takes around 8 years to gain full accreditation.

For more information, I would suggest you visit this page for more details.  On that page, you can also download the Actuarial Studies brochure which will give you a lot more information.

Additionally, you can contact ILoveMathsMeth who is currently a first year Commerce student at UoM who intends to major in Actuarial Studies.

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Ilovemathsmeth

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Re: Acturial studies
« Reply #2 on: March 07, 2010, 02:01:40 pm »
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I didn't do Specialist Maths in high school so I am taking a lower Maths pathway, Calc 1, Calc 2 and Linear Algebra respectively. So far I've done nothing for Actuarial Studies - I'll be doing subjects for that major in second year apparently. I love Calculus 1 so far though. It's pretty amazing. The first week was mainly revision and I can tell the course is going to be hard and challenging and I just think doing all the work as it falls due is the best way of doing well.
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tram

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Re: Acturial studies
« Reply #3 on: March 07, 2010, 02:04:34 pm »
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what made you want to do acturial studies as a major? (apart from the fact that you "love MM")
« Last Edit: March 07, 2010, 02:17:14 pm by tram »

tram

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Re: Acturial studies
« Reply #4 on: March 07, 2010, 02:09:33 pm »
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as in, you didn't do spech, you did ok i suppose in accounting;) like why did u choose acturial studies over accounting for instance

tram

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Re: Acturial studies
« Reply #5 on: March 07, 2010, 02:16:11 pm »
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lol, true, defs, but i'm pretty sure that the 30 or so that actually make it out of the acturial course in the end, have gotta reli, reli like acturial studies
« Last Edit: March 07, 2010, 02:18:52 pm by tram »

TrueTears

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Re: Acturial studies
« Reply #6 on: March 07, 2010, 02:18:10 pm »
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what made you want to do acturial studies as a major? (apart from the face that you "love MM")

Big money?
Not necessarily.
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tram

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Re: Acturial studies
« Reply #7 on: March 07, 2010, 02:26:24 pm »
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what made you want to do acturial studies as a major? (apart from the face that you "love MM")

Big money?
Not necessarily.

Why enter the workforce then? For friends or something lol?

to a degree. These are many other ways to make much more money eg be a partner at a huge law firm. I am sure that the money dosen't hurt at all. But i'm pretty sure what ever career or job you pick is going to be motivated by money to a certian extent for at least 90% of people.

tram

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Re: Acturial studies
« Reply #8 on: March 07, 2010, 02:30:24 pm »
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And out of intrest TT, how related are Acturial studies and finance, especially when combined with a maths degree like ur doing?

I'm most likely going to do Bcomm Actuarial Studies or BActStud in uni, but I'm not sure whether to stay in Victoria and go to Melb Uni or go to Sydney to Macquarie or ANU. I've heard Macquarie's very good at commerce... Any tips?

lol, i'm just trying to decide whether to do acturial studies in the 1st place

QuantumJG

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Re: Acturial studies
« Reply #9 on: March 07, 2010, 02:31:00 pm »
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I didn't do Specialist Maths in high school so I am taking a lower Maths pathway, Calc 1, Calc 2 and Linear Algebra respectively. So far I've done nothing for Actuarial Studies - I'll be doing subjects for that major in second year apparently. I love Calculus 1 so far though. It's pretty amazing. The first week was mainly revision and I can tell the course is going to be hard and challenging and I just think doing all the work as it falls due is the best way of doing well.

How are you finding uni ILMM? You do intro to actuarial studies next semester - my friend who's doing actuarial studies enjoyed the subject.

As for being an actuary, the salary is HUGE!

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QuantumJG

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Re: Acturial studies
« Reply #10 on: March 07, 2010, 02:50:09 pm »
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lol, true, defs, but i'm pretty sure that the 30 or so that actually make it out of the acturial course in the end, have gotta reli, reli like acturial studies

I can remember on either BoS or VN someone in second year of doing actuarial studies was saying how crazy the course became.

what made you want to do acturial studies as a major? (apart from the face that you "love MM")

Big money?
Not necessarily.

Why enter the workforce then? For friends or something lol?

to a degree. These are many other ways to make much more money eg be a partner at a huge law firm. I am sure that the money dosen't hurt at all. But i'm pretty sure what ever career or job you pick is going to be motivated by money to a certian extent for at least 90% of people.


People don't choose physics for the salary. But with commerce you would do it for the money - it seems like a very dull area. One of my friends who is 32 doing a maths major - after be a vet for a while and getting an engineering degree. He said as a rule the more dull the work, the more money and conversely the more fun, the less money.
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TrueTears

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Re: Acturial studies
« Reply #11 on: March 07, 2010, 02:50:32 pm »
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I was seriously considering actuarial studies too and spent alot of time thinking about it.

The main reasons I didn't do actuarial studies was because 1. You can't get a PhD, the highest degree you can get is a bachelor. 2. You have to consistently take exams for 8 years to reach the highest salary.

The reason I'm doing Finance/Maths is because finance requires maths and it has more job opportunities where as actuarial studies is too restricted. Plus you can get a PhD in finance and could become a uni lecturer/work at banks/CEO etc.
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dejan91

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Re: Acturial studies
« Reply #12 on: March 07, 2010, 03:07:20 pm »
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He said as a rule the more dull the work, the more money and conversely the more fun, the less money.

That's a bit of a generalisation, no?
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Re: Acturial studies
« Reply #13 on: March 07, 2010, 03:10:55 pm »
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He said as a rule the more dull the work, the more money and conversely the more fun, the less money.

That's a bit of a generalisation, no?
a big one too
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Re: Acturial studies
« Reply #14 on: March 07, 2010, 03:16:43 pm »
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But with commerce you would do it for the money - it seems like a very dull area.

I think thats pretty unfair. Yes many people do commerce for money, but quite a few are generally interested. Some areas are quite dry but theres also some very interesting stuff. I mean, I could say people doing Law are only motivated by money because after doing a Law subject I found it somewhat boring - but I don't because I know people that enjoy it.
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