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Construction and Evaluation of Actuarial Models: 2005: Course 4 2017: Exam STAM M: Actuarial Models: 2005: Course 3 2006: Exams MFE and MLC 1: Mathematical Foundations of Actuarial Science: 2000: Education system redesign 2005: Exam P and VEE 2: Interest Theory, Economics and Finance: 2000: Education system redesign 2005: Exam FM and VEE 3 ...
The Institute of Actuaries of India is the sole national apex body for actuaries in India. It was formed in September 1944 by the conversion of the Actuarial Society of India into a body corporate by virtue of the Actuaries Act, 2006. It is under the ownership of Ministry of Finance, Government of India.
An actuary is a professional with advanced mathematical skills who deals with the measurement and management of risk and uncertainty. [1] These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills. [2]
An actuarial qualification from the Institute and Faculty of Actuaries consists of a combination of the completion of various examinations and courses. The examinations are split into six sections: Core Mathematics (CM), Core Statistics (CS), Core Business (CB), Core Practice (CP), Specialist Practice (SP), and Specialist Applications (SA).
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.
Public universities are supported by the Government of India and the state governments, while private universities are mostly supported by various bodies and societies. Universities in India are recognized by the University Grants Commission (UGC), which draws its power from the University Grants Commission Act, 1956. [1]
Note that Course 7 (Applied Actuarial Modeling), Course 8 (Advanced Specialized Actuarial Practice), and PD were part of the fellowship requirement. In 2007, the Fundamentals of Actuarial Practice (FAP) were introduced to cover real-world topics such as insurance and professionalism with readings, case studies, and projects. [ 14 ]
In the list below, the year of establishment is the year stated by the UGC as "Date of Notification". [5] Cases where this year is different than the year stated by the university are noted. Differences in title are also noted, except minor typographical errors and "University of X"/"X University" differences.