Actuarial Mathematics

[nubs]

Well I had no idea what type of mathematics an actuary would encounter/need until I came across these notes from a lecture using a quick google search
So for anyone else who is interested in the type of mathematics involved in the life of an actuary, or is simply curious, here is the link:
http://javeeh.net/lecnotes/actmath.pdf

I'm now actually thinking of becoming an actuary, and with only a few days to finalise my preferences, what courses should I be applying for or what pathways would I be looking at?
(Of course I'll do a lot more research before finalising them, just wondering if you guys could make the process a little easier for me)

My ATAR was 99.15, I got 45 for Methods, 44 for Specialist and 42 for English

Originally, I was looking at Science (to keep my options open), and then MAYBE trying for medicine (perhaps even mechanical/electrical engineering), but yeah I really enjoy mathematics and biology related subjects to a slightly lesser extent, so if you could list any other career that requires a deep knowledge of maths, that would be great.

Thanks guys

[TrueTears]

I have a pretty good actuarial studies book, mainly focusing on probability (some pretty crazy maths), I'll attach it here tmr when i get on computer

so if you could list any other career that requires a deep knowledge of maths, that would be great.

Thanks guys

finance (many many different fields here), economics (mathematical economics, theoretical economics, econometrics etc)

[nubs]

I have a pretty good actuarial studies book, mainly focusing on probability (some pretty crazy maths), I'll attach it here tmr when i get on computer

That would be great

Also, if you have time, what courses do you reckon I should look into if I were to ultimately become an actuary or something similar?

[Hutchoo]

I have a pretty good actuarial studies book, mainly focusing on probability (some pretty crazy maths), I'll attach it here tmr when i get on computer

That would be great

Also, if you have time, what courses do you reckon I should look into if I were to ultimately become an actuary or something similar?

BComm@Melb - Actuarial studies major.
BComm/Sci {Finance/Pure math majors} @ Monash.

[kwheattt]

If you want to major in 'actuarial studies' you can do a bcomm at melbourne or monash, or even a bachelor of economics at Monash

However, do some more research but from what I can see from the wikipedia site; http://en.wikipedia.org/wiki/Actuary
I think you can only become an actuary if you go to Melbourne as Monash's course doesn't appear to be 'accredited.'
I'm not too sure and I could be wrong, but definitely worth double checking!

Also, it'd be worth considering ANU with that ATAR, they have specifically a "bachelor of Actuarial Studies" and you can double it with Science, Arts and even engineering from memory

Anyway, hope that helps

[99.96]

Here are some things to consider.
Actuarial studies at Monash
+you are a good chance to get a scholarship into Monash with that ATAR
+you can do a double degree with something closely liked such as finance
-not fully accredited (only obtain exemption to part I of the exam)

Actuarial studies at Melbourne:
+accredited (exemption from part I and part II of the exams)
+more renowned course which is has been running longer and is recognised in more places (from what i've heard)
-scholarship unlikely (unless seas)
-no double degree

[homosapiens]

I'm in the same position as you, Nirbaan! BComm at Melbourne is my back up plan if I don't get into med, but I don't know if my maths is strong enough to do actuarial studies... I absolutely love maths and it sounds so interesting but have heard of people scoring higher than me (40 in methods) who are failing/struggling in the course so I'm a little scared

[acinod]

Dr he recommends students get 42+ in spesh to do actuarial studies so you should be fine

[pi]

Dr he recommends students get 42+ in spesh to do actuarial studies so you should be fine

That's the main reason why I didn't pursue it, I was interested in actuarial studies initially, now engineering/med for me

[TrueTears]

I have a pretty good actuarial studies book, mainly focusing on probability (some pretty crazy maths), I'll attach it here tmr when i get on computer

That would be great

Also, if you have time, what courses do you reckon I should look into if I were to ultimately become an actuary or something similar?

yeah well like everyone else above me said, u can do it at either uom or monash, even though monash isn't fully accredited, the first 2 exams are pretty easy... you'd probably ace the 2nd exam anyway lol plus u can always do a double degree at monash and that'd broaden your knowledge alot more as finance/economics/actuarial studies are all interconnected fields.

[nubs]

aw you guys are just the cutest, going out of your way to help me out like that, thank you so much!

[nubs]

One more question!

I spoke to my careers advisor, she said that if I do BSc at UoM and major in pure mathematics, I'll be able to do a Masters in Commerce (She said Masters in Finance), and I wouldn't have to do any extra years, i.e I could do a bachelor of science and master of commerce and that would take the same time as doing a bachelor of commerce and then doing the masters.

Is there any truth in that?

Could I also do a Masters in Actuarial Sciences after doing the Bachelor of Science?

[TrueTears]

k, uploaded the books to rapidshare, too big to attach on vn - 2 of them are .djvu file, go google windjvu and use that to view the files.

I actually have a few more books can't find them atm, ill dig them up later - one of them i remember is quite good; begins on the elementary probability theory and progresses to some very advanced stuff, gotta find that one!

https://rapidshare.com/files/4033221463/books.rar

[kwheattt]

Dr he recommends students get 42+ in spesh to do actuarial studies so you should be fine

Is that 42 raw or scaled...?

[TrueTears]

Dr he recommends students get 42+ in spesh to do actuarial studies so you should be fine

Is that 42 raw or scaled...?

haha don't worry too much about what score you get exactly in spesh lol, the maths in actuarial studies is fairly different from what you'd have learnt in spesh