Does anyone know how many exams one have to clear and how much training period is compulsory for becoming fellow, associate, appointed member etc ?? And is there any minimum passing marks criteria for exams disclosed ?? Thanks.
The Core-Technical exams are CT1 - Financial Mathematics CT2 - Finance and Financial Reporting CT3 - Probability and Mathematical Statistics CT4 - Models CT5 - Contingencies CT6 - Statistical Methods CT7 - Business Economics CT8 - Financial Economics CT9 - Business Awareness The recommended number of hours of study time for CT 1-8 is 125-150 hours depending on past educational experience, I think. The Core Application exams are CA1 - Actuarial Risk Management CA2 - Model Documentation and Analysis CA3 - Professional Communications. They recommend 400 hours of study for CA1, I think. You get your Associateship if you comeplete all of the above exams and have worked in an actuarial position for a year. You then choose two Specialist Technical subjects and one Specialist Application subject to get your Fellowship, if you have three years relevent work experience.
Appointed Actuary Thanks.. Can u tell me then who becomes appointed actuary( i read this term somewhere) ??
Once you've passed your exams and the practice paper - the company may assign you as the "appointed actuary" ie the one who is to be responsible for the valuation.
