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Non-members working in the actuarial profession and taking exams are often referred to as actuarial students or candidates. Members of the SOA who meet a professional experience requirement are eligible for membership in the American Academy of Actuaries , which represents United States actuaries from all practice areas.
The University of KwaZulu-Natal (UKZN; Zulu: INyuvesi yakwaZulu-Natali, Afrikaans: Universiteit van KwaZulu-Natal) is a public research university with five campuses in the province of KwaZulu-Natal in South Africa. [7] [6] It was formed on 1 January 2004 after the merger between the University of Natal and the University of Durban-Westville. [1]
The actuarial credentialing and exam process usually requires passing a rigorous series of professional examinations, most often taking several years in total, before one can become recognized as a credentialed actuary. In some countries, such as Denmark, most study takes place in a university setting.
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. Actuaries are professionals trained in this discipline.
The BBusSci "allows for intensive specialization" in the degree major [2] and thus comprises a four-year Honours level program. It differs from the Bachelor of Commerce (BComm) - the three year Bachelor's degree in business and economics usually offered in South Africa - in that, additional to the treatment of the major, all students are exposed to management theory in some depth.
The actuarial control cycle is a specific business activity which involves the application of actuarial science to real world business problems. The actuarial control cycle requires a professional within that field (i.e., an actuary ) to specify a problem, develop a solution, monitor the consequences thereof, and repeat the process. [ 1 ]
The following outline is provided as an overview of and topical guide to actuarial science: Actuarial science – discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries.
The CAS requires all candidates to qualify through a series of actuarial exams covering various aspects of actuarial practice. Passing Exams 1–6 as well as Exam S, the Course on Professionalism, the Validation by Educational Experience (VEE), and two online courses qualifies an actuary for the Associateship designation; passing three additional exams is required to become a Fellow. [10]