Can you take actuarial exams while in college?

Writing your first actuarial exam while you’re still in college can seem like a bit of a daunting task. But, it’s actually very common and recommended. Most students that decide to be an actuary while they’re in school aim to have at least 2 exams passed before they graduate.

Does college matter for actuaries?

Usually, actuaries earn an undergraduate degree in math or statistics. Your college major is not as important as the ability to pass actuarial exams. Students should, however, take courses in economics, applied statistics and corporate finance, which are requirements for professional certification.

Can I be an actuary if I am bad at math?

Anyone with sufficient math skills can become an actuary. Second, you need to pass a series of 10 actuarial exams that will make you a certified (or fully qualified) actuary. These exams take most people between 5 and 10 years to pass. Some people never finish.

How long should you study for an actuary exam?

Preparing for Actuarial Exams The SOA recommends spending 100 hours of study for each hour of the exam. Both of the first two exams are three hours long, requiring a total of 300 hours of study, while the remaining preliminary exams are three to four hours in length.

When should you start actuary exams?

You should start thinking about writing your first actuarial exam in your second year of college/university. By this time, you’ll likely have built up your mathematical abilities enough to be able to understand, through self-study, any of the concepts that you haven’t already learned in school.

What should I major in if I want to be an actuary?

Popular majors for actuaries include mathematics, actuarial science, business, economics, and statistics.

How long should I study for actuary exams?

The number of hours you need to study depends on the process you use to prepare and how familiar you already are with the exam topics. For most people, 3 – 4 months is appropriate but if you’re very busy you may need longer. Keep reading or watch the video above to find out why 300 hours isn’t a good recommendation.

Do I need to go to college to be an actuary?

You do not need a degree to become an actuary, though employers may be more likely to hire you if you have at least a bachelor’s degree in actuarial science, statistics, business or mathematics.

Can I write my first actuarial exam while still in college?

Writing your first actuarial exam while you’re still in college can seem like a bit of a daunting task. But, it’s actually very common and recommended. Most students that decide to be an actuary while they’re in school aim to have at least 2 exams passed before they graduate.

How long does it take to become an actuarial assistant?

Starting your actuarial studies early is one of the best things you can do to ensure that you’re not overwhelming yourself. For most people, it takes anywhere from 3-4 month to fully prepare for Exam P and FM (the first two actuarial exams).

Is being an actuary a good career choice?

Being an actuary is definitely a rewarding, well-paying career option, but it does take a lot of commitment and dedication. If you’ve decided “yes”, be sure to check out the Actuary Accelerator Community for step-by-step guidance on how to turn your actuarial dream into a reality!

What are the different types of actuarial exams?

Students typically take either the Probability or Financial Mathematics exam first and the other exam second, since the remainder of the preliminary actuarial exams build on these two topics. Beyond the preliminary exams, your path to certification will depend on which type of actuarial work you want to do.