Understand > The Myths

Actuarial is all about Math

Wrong. The fundamental of actuarial is mathematics and statistics. But its application include finance, investment, business law, risk management, marketing, product development, etc.

All Actuaries work in insurance company

Wrong. More and more actuaries work in non-traditional fields such as investment, risk management, software company, underwriting, human resource, etc.

You cannot become an Actuary without an actuarial degree

Wrong. A lot of actuaries did not major in actuarial studies in university. Some of them studied Economics, Computer Sciences, Mass Communication, Mathematics, Statistics, Music, etc. All they have to do is to write actuarial exams on their own when they decide to pursue actuarial profession.

Actuaries are stock market expert!

Wrong. Mainly, we learn actuarial mathematics, not stock investment. We also learn investment and finance courses but the purpose is to serve the actuarial practise. The scope of learning is very different from those of the financial analysts working in investment bank and portfolio management.

In addition, there are different tracks within actuarial field, such as insurance and annuity, investment and finance, risk management, pension, and so on. Maybe those actuaries who specialize in investment and finance will have more knowledge in stock market compared to others.

Some actuaries will pursue additional investment or finance designation such as CFA after they complete their Actuarial designation. So they will be more familiar in this field.

Graduates from Top University get job easily

Wrong. From my experience, most of the recruiters look at 1) actuarial exams, 2) internship experience 3) academic results and 4) extra-curriculum activities. They don't really emphasize on which university the candidate graduates from.

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