Study Actuarial Science Abroad
The field of actuarial science recognises and manage risks by evaluating the likelihood of risky events and create a plan to reduce firm problems. One of the many questions they address on a daily basis includes:
What is the economic loss in the event of a natural disaster?
How to organise your investment portfolio to maximise return and minimise risks as much as possible?
How much is the cost of hospitalisation stay? What is the average stay duration?
They enjoy constantly learning about new topics covering finance and a good business sense. Actuaries make use of the financial portfolio of a firm to create clear and concise written reports, graphs and even visual presentation formats.
Are you good with numbers? Are you looking for ways to hone your math skills after graduation? If this sounds like you, you will probably be an excellent candidate to become the next best actuarists.
The following guide provides an in-depth and comprehensive of actuarial science which includes what you will study, related skills and technologies, your earning potential as well as employment opportunities.
What is the actuarial science course?
Actuarial science is a field of study that applies mathematical and statistical methods to assess financial risks in the field of insurance and finance risks.
Learning an Actuarial Science course prepares students for a comprehensive set of skills and practical knowledge. Upon graduation, you will be able to be involved in numerous industries that require skilled individuals in the actuarial science field.
What are the differences between Actuaries and Chartered Accountants?
You could be wondering what differences lie between these two courses? Is it similar or different from each other? However, in terms of skills and work, they share the same seat.
Actuary science focuses on the future estimation of an organisation whereas chartered account deals with the present estimation of an organisation.
Actuarial Science: It is leaning more towards financial modelling, risk assessment and predictions. Actuarial Scientists work for and or alongside financial institutions, insurance companies and government offices. They use statistics to calculate and reduce the risks affecting a business. The predictions that they make up for the rates of insurance, investments and credit rates.
Chartered Accountants: It is more focused on financial advice, managing financial budgets and audits. Chartered Accountants report the financial performance of a firm which helps the decision-making process. They even act as trusted advisors that consult leaders in the financial aspect of running and strategize the future of business better.
The common principle that these two courses have in common focus on the understanding of the financial industry. Students will be exposed to similar learning skills and experiences.
Actuarial Science: Students of Actuarial Science deal more with identifying and evaluating the risks specifically related to insurance and pension plans. It emphasises on the studying courses in statistics and mathematics for the majority of your course length It also involves problem-solving skills in the scope of corporate finance.
Chartered Accountants: Students of Actuarial Science deals the audit of financial statements Amongst many of its tasks, they are responsible for reporting, taxation, auditing of business. It includes areas of Investment Banking, Tax, Fund and Risk Management.