What are the professional qualifications of an actuary?

Updated on educate 2024-07-28
7 answers
  1. Anonymous users2024-02-13

    Actuary in China"The qualifying examination is divided into two parts: associate actuary and actuary. There are nine compulsory courses in the Associate Actuary Part Exam, and candidates who pass all nine courses will be qualified as an Associate Actuary. The actuary part of the examination is planned to set up ten courses, including compulsory courses and elective courses, and candidates who have obtained the qualification of associate actuary can only obtain it after passing the examination of five actuary courses and meeting the relevant actuarial professional training requirements"Certificate of Passing the Actuary Examination"

    All individuals with a bachelor's degree or above or equivalent, including undergraduate students, can register for the Chinese Actuary Qualification Examination. However, those who fall under one of the following circumstances are not allowed to participate in the Chinese Actuary Qualification Examination:

    1) Have previously received criminal punishment;

    2) Have previously received administrative penalties for violating financial laws and regulations;

    iii) statelessness;

    4) Other circumstances determined by the China Insurance Regulatory Commission that do not meet the conditions for participating in the Chinese Actuary Qualification Examination.

  2. Anonymous users2024-02-12

    On July 16, 1999, China held its first actuary qualification examination. The exam is divided into two parts: an associate actuary and an actuary. Candidates who pass all nine courses will be qualified as an Associate Actuary.

    Candidates who have obtained the qualification of associate actuary can obtain the "Actuary Examination Certificate" only after passing the examination of five actuarial courses and meeting the relevant actuarial professional training requirements, and passing the oral defense.

  3. Anonymous users2024-02-11

    The requirements for applying for the actuary are:

    1. Qualified as an associate actuary in China;

    2. Three years of actuarial related work experience;

    3. College degree or above in finance, economics or related majors;

    4. Have good psychological and physical quality;

    5. Strong logical thinking ability and judgment ability.

    Actuary.

    Actuaries are mathematical professionals employed by insurance companies to calculate insurance premiums, compensation reserves, dividends, sum insured, pensions, annuities, etc. The calculation is based on the claims reference table and accounting standards, and the operating conditions of the insurance company. This ** is based on the experience of the Company and its peers in claims and relevant statistics.

    Actuaries have a wide range of knowledge and help design and develop insurance policies, pension plans and other economic strategies that will ensure that plans are based on sound economics.

    Actuaries are important members of the management team who are adept at and focused on combining professional analytical skills, business management knowledge and stakeholder understanding to help the community understand the financial implications of their decisions.

    Actuaries are usually divided into two categories: personal and accidental. Life insurance actuaries deal with risks assumed in life, annuity, pension, disability and medical insurance related to illness, health, and natural death. An actuary of an accident insurance officer deals primarily with the risk of sudden accidents for people and property.

  4. Anonymous users2024-02-10

    The provisions on the professional qualification of actuaries are divided into the following aspects:

    1. Eligibility requirements:

    The actuary professional qualification requires applicants to have the following conditions: obtain a relevant bachelor's degree or above; 3 years or more of practical work experience in the actuarial field; Pass the actuary professional qualification examination held by the state or local**;

    2. Exam content:

    The actuarial professional qualification examination mainly includes the following knowledge points: actuarial theory and methods: including mathematical statistics, probability theory, insurance actuarial science, etc.; Finance & Investment:

    Including financial markets, investment analysis, risk assessment, etc.; Insurance and pension: including insurance product design, insurance market supervision, pension design, etc.; Actuarial practice: including actuarial model establishment, data processing and analysis, risk management and reform, etc.

    3. Examination format:

    The actuarial professional qualification examination is generally in the form of a written examination, including multiple-choice questions, calculation questions and case analysis questions. The examination is difficult and requires candidates to have a comprehensive grasp of actuarial theory and practical knowledge, and be proficient in using relevant tools and software for analysis and calculation.

    4. Test time and place:

    The actuary professional qualification examination is generally held once a year, and the specific time and place of the examination are determined by local actuary associations or relevant institutions, and announced to the public. Candidates can take the exam at the specified time and place.

    5. Examination Qualification Criteria:

    The passing criteria for examination results are generally determined according to the difficulty of the examination and the distribution of scores, and it is usually necessary to reach a certain passing threshold to obtain the actuary professional qualification certificate. After the test results are announced, candidates can learn their test results and whether they have passed the test through inquiry.

    6. Qualification certificate issuance:

    After passing the actuarial professional qualification examination and meeting other relevant conditions, candidates can apply to the actuary association or relevant institutions for the issuance of the actuary professional qualification certificate. This certificate is an important credential for engaging in actuarial work, further enhancing professional status and remuneration package.

    7. Continuing education requirements:

    Personnel with actuary professional qualifications need to participate in continuing education and training in accordance with the regulations, and keep their professional knowledge updated and improved to meet the needs of the development of the industry. Regularly participate in training and study and pass the assessment to obtain the corresponding continuing education certificate.

  5. Anonymous users2024-02-09

    The actuary certificate is the China (quasi) actuary proficiency test certificate and the individual full (pre) membership certificate of the Chinese Association of Actuaries issued by the Chinese Association of Actuaries.

    Holding an actuary certificate indicates that the actuary's ability and level of actuary have been recognized, and they can use their professional knowledge and skills in the fields of insurance, finance, and investment to analyze and evaluate the impact of uncertain cash flow on future financial conditions.

    Actuary Examination Subjects.

    The actuary examination is divided into two systems: quasi-actuary and actuary, and there are eight subjects in the quasi-actuary examination, namely A1 "Mathematics", A2 "Financial Mathematics", A3 "Actuarial Model", A4 "Economics", A5 "Life Actuarial Science", A6 "Non-life Actuarial Science", A7 "Accounting and Finance", and A8 "Actuarial Management".

    The actuary examination system is divided into two directions: life insurance and non-life insurance, and the subjects of the life insurance examination are FC1 "Insurance Law and Related Regulations", FC2 "Financial Management of Insurance Companies", FC3 "Health Insurance", FC4 "Investment", FL1 "Actuarial Practice of Individual Life Insurance and Annuity", FL2 "Asset and Liability Management", and FL3 "Employee Benefit Plan". The subjects of the non-life insurance examination are FC1 "Disguise Insurance Law and Related Regulations", FC2 "Financial Management of Insurance Companies", FC3 "Health Insurance", FC4 "Investment", FG1 "Actuarial Practice of Non-life Insurance", FG2 "Non-life Insurance Pricing", and FG3 "Assessment of Non-life Insurance Liability Reserves".

    Actuary Exam Pass Requirements.

    1. Life insurance direction.

    After passing the Associate Actuary Examination and qualifying as an Associate Actuary, pass FC1, FC2 and FL1 courses, and pass at least 2 of the 4 courses FC3, FC4, FL2, and FL3.

    2. Non-life insurance direction.

    After passing the Associate Actuary Exam and qualifying as an Associate Actuary, pass FC1, FG1, FG2 and FG3 courses, and pass at least 1 course in the 3 courses FC2, FC3 and FC4.

    After passing the above exams, you also need to take a one-day professional ethics education course for Chinese actuaries to obtain the qualification of Chinese actuary.

  6. Anonymous users2024-02-08

    The main tasks he is engaged in include:

    1) Collect, collate and analyze statistical data, and use mathematical statistical methods to design probability tables for accidents such as illness, injury, unemployment, retirement and property loss of the insured;

    2) Calculate the insurance rate payable by the insured according to factors such as age, gender and occupation of the insured;

    3) Estimate the amount received by the insured during the insurance period;

    4) Evaluate the profit of the insurance investment;

    5) Be prepared to pay insurance liability payments that occur at any time.

  7. Anonymous users2024-02-07

    The main tasks he is engaged in include:

    1) Collect, collate and analyze statistical data, and use mathematical statistical methods to design probability tables for accidents such as illness, injury, unemployment, retirement and property loss of the insured;

    2) Calculate the insurance rate payable by the insured according to factors such as age, gender and occupation of the insured;

    3) Estimate the amount received by the insured during the insurance period;

    4) Evaluate the profit of the insurance investment;

    5) Be prepared to pay insurance liability payments that occur at any time.

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