acturial studies (im in 12) (1 Viewer)

[flamin']

flyin:

I didnt do any economics or humanities type subjects in school. Im basically into math and the sciences but ive been thinking about Actuariall studies for the last few weeks. Do you think i have a chance at getting the once off 2.5K with my UAI? Or do heaps of high UAI ppl do this course from your experience?

Also, i imagfine this degree has been going for quite sometime, yet to be an actual practicing actuary you have to go get the FIAA accrediation, which as of last year only like 1200 people have? Do heaps of people drop out? Because couple of uni;'s offer it and 1200 isnt a big number for a degree thats been running for at least...20 years???

I didn't do any humanities or economics or anythign like that in HS either. I did physics, chem, 4unit math and 2unit eng (advanced). I am doing very well in ACST I think.

Most of the scholarships go to people over 99 UAI.

Many people drop out... many more get left behind to repeat... and getting your FIAA is very hard. One of the exemptions had a pass rate of 18%... Noone in my work got their exemptions I don't think.

 

[-=«MÄLÅÇhïtÊ»=-]

ye ppl at work juz keep redoing their party 3 exams yr after yr to get FIAA. I think only 1 guy in our office got it this yr. but i mean its a pretty nice life even if u just have AIAA. you'll eventually get ur FIAA...when ur 40 ^^

 

[CrashOveride]

is it some kind of impossibly difficult exams for these FIAA?

 

[chunder]

how did u guys get the mad jobs that u got at the moment??? I've been trying so fuckin hard to find something relevant in the job market. Could u give us some tips??? I've just finished first year....should i even be expecting to get something??

 

[RIZAL]

Whoa Isaac.. you sound so tech. You're doing more tech stuff than us at the moment. So pro with all them calcs.

yeah...but u guys are getting double the peso's i'm getting....so in the end, i'd def. rather b where u guys r!!!

update: finance department says we can't assume greater than a 10% return on investments....so my premiums are gonna be farked!

chunder: i know a dude who got hooked up with a summer job at end of 1st year. Just use any connections that u can. if ur parents don't know anyone then look to ur extended family and the ppl that they know.. u gotta know someone in ur desired field.....everyone is separated by like 3 degrees of separation...or is it 5? anyway its not much... get on the phone and start makn calls...

 

[CrashOveride]

are u guys doing this becasue of work experience or u just set it up urselves?

 

[feng]

for work experience..i reckon it helps out a lot...i'm learning stuff that we havent done it uni yet...and probably wont be.

getting a job in australia is harder than overseas...especially if its an holiday job thing..you just need to one or two people who know other people etc etc and you should be able to get small jobs here and there

so far ive just done some product research and learning about pricing...

pricing is the 'fun' part i guess..fitting in numbers into the program using the mortality tables..determining commision rates..bonus etc etc for some parts of pricing, you have to rely on past market data and your own 'feeling' for the market..stuff like lapse..

heh i sound tech like isaaq =)


i just noticed i'm a new member -_-

 

[CrashOveride]

Do you think with only some 1200 professional actuaries in Aus. there is no real need for any more of them? Could this be another factor behind the reason in there relatively small numbers?

 

[feng]

there is always a need, but as we learnt in econ...supply and demand means that companies arent chasing after new graduates as much as before.

 

[-=«MÄLÅÇhïtÊ»=-]

if u dont have connections wiv the industry then get involved with extra curricular stuff like actuarial student society and you'll get chances to come into contact with them. in terms of tips for getting a job, as long as ur not failing all ur subjects, it's all about doing extra curricular stuff. the rest is how well u sell urself at interview etc.

new update on wot i did at work 2day...
* read funni forwarded emails from receptionist
* installed windows 2k and xp a few times and installed some stuff and tested it...
* talked about burning dvds at work with colleges
* went thru phone book lookn for ppl to call to waste time....

*so stressful!*

yeah...but u guys are getting double the peso's i'm getting

*cough* dont u mean 8 times? =p

hey isaac how much are mini ipods in filo? also can u get ur hands on some lee hyori stuff? wot about korean movies?

 

[feng]

lol..only 8 times more...i wish my income was like that =(

u fags prob get like 100 times more than what im getting paid

at least im overseas where living expenses are cheap

 

[flamin']

Yea.. Actuarial in Australia is in a decline. Thats why you need to work overseas.

We should start a new thread for all the working where we can tell eachother what we do etc. Why bother you ask? Because this way flyin' is excluded! LOL =P

 

[aditya]

yes and u can thank me for it (H)

i will go down in... ok ill shutup

firstly... isaaq... lol i was thinking... wtf... that sounds way too easy.. u cant just make a product like that.. this guys way over his head.... the rest is history

but yeh... i was reading the booklet on actuarial by unsw... and it was saying how after getting ur part 3s...... u just rake it in lol - it goes after 3 years as a prt 3 prof. most will earn 150k while otheres earn MUCH MORE..... like 150k+ by 26... that is trully amazing... and i know like 2 poeple that got their part 3s first go soon to be 3 people lol

btw, just curioius, how do u rate part 3 diffucltiy to normal actuayr difficulty?

 

[RIZAL]

your own 'feeling' for the market..stuff like lapse..

yeah a lot of the stuff is just a 'feeling' for the market. which is cool because u can make your 'feeling' for the market whatever makes the product cheapest...unconservative lapse rates and mortality rates rule! but u gotta justify ur assumptions too...so u just make up some bs...

feng: what country are u in? do u use the 1980 CSO table? we are in a 3rd world country and we use this American mortality table...dunno whether it would be accurate...but they use it anyway..

james: i can get ipod mini for P13,000 which is like $320...i think that's same as oz isn't it? and korean stuff isn't big here coz its not in english..


aditya: from what i've seen here, pricing a product is the easy bit which the younger people around here do. the way it seems to be is that the less experienced do the product development and those that are fully qualified sign stuff for the Insurance Commission and make sure actual reserves are heading the right way etc.

btw: I just got pwn3d for being late.

 

[feng]

im in hk

do u know who i am..??

 

[flamin']

yes i know exactly who you are

 

[-=«MÄLÅÇhïtÊ»=-]

dang...320 aint that cheap. its 399 here.

i short circuited my discman at work 2day...
i was clicking my mouse and listening to music and the batteries ran out...then i realised nam the clever mofo was using an adaptor! but i dint bring one! but i was like man its only 11am...i cant survive 5hrs clicking a mouse without music! so even tho my comp was running simulations i used it to play CD..but there was sumfin wrong wiv plug and it wasnt working. so i went and stole nam's speakers and plugged it and plugged in ear fones thru speakers but it still dint work...so then i plugged the speaker's adaptor to the discman (stupid i know) and i was juz standing here seeing if the discman would explode...after 5 seconds i was juz about to say "hey mad this works!" but i started smelling smoke and smoke starting coming outer the discman...DOH~!
office stunk. i chucked the discman in a draw. next time i wanna unleash chemical warfare i'l juz open that draw. went out at lunch and bought a new discman haha. ipod's too expenssive ><".

 

[flamin']

LOL that will learn you for stealing speakers!

 

[Grizzly]

LOL that will learn you for stealing speakers!

...teach you...

 

[aditya]

LEARN YOU!!!!!!!!!!!!!! HAHAHHAHAHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

oh god thats classic...