Becoming an actuary with the IFoA And actuarial career PDF
Preview Becoming an actuary with the IFoA And actuarial career
Becoming an actuary with the IFoA And actuarial career Wen Li FIA Lead representative in Asia Institute and Faculty of Actuaries Colour palette for PowerPoint presentations Primary colour palette Dark blue R17 G52 B88 Agenda Gold R217 G171 B22 Mid blue R64 G150 B184 Light grey R63 G69 B72 • Actuarial Education with the IFoA Secondary colour palette Dark grey R63 G69 B72 • Actuarial Work Pea green R121 G163 B42 Forest green • Interview With An Actuary R0 G132 B82 Bottle green R17 G179 B162 • Additional Information Cyan R0 G156 B200 Light blue R124 G179 B225 Violet R128 G118 B207 Purple R143 G70 B147 Fuscia R233 G69 B140 Red R200 G30 B69 Orange 1 R238 G116 29 Colour palette for PowerPoint presentations Primary colour palette Dark blue About the Institute and Faculty of Actuaries R17 G52 B88 Gold R217 G171 B22 Mid blue • The Institute of Actuaries was formed in 1848 in R64 G150 B184 Light grey London and the Faculty of Actuaries was formed in R63 G69 B72 1856 in Scotland, both under Royal Charter Secondary colour palette Dark grey R63 G69 B72 • The Institute and Faculty of Actuaries merged to Pea green R121 G163 B42 become one on 1 August 2010 Forest green R0 G132 B82 Bottle green • The Institute and Faculty of Actuaries (IFoA) is the R17 G179 B162 UK's only chartered professional body dedicated to Cyan R0 G156 B200 educating, developing and regulating actuaries based Light blue R124 G179 B225 both in the UK and internationally Violet R128 G118 B207 Purple R143 G70 B147 Fuscia R233 G69 B140 Red R200 G30 B69 Orange 2 R238 G116 29 Colour palette for PowerPoint presentations Primary colour palette Our logo explained Dark blue R17 G52 B88 Gold R217 G171 B22 • The armorial bearings are based on a shield bearing a wavy line to Mid blue reflect on the mathematical curves used by actuaries in their analysis R64 G150 B184 and understanding of future financial outturns Light grey R63 G69 B72 Secondary colour palette • The hour glasses depict the sands of time and are an allusion to the Dark grey study by actuaries of the impact of uncertainties on future events R63 G69 B72 Pea green R121 G163 B42 • The shield is supported by two owls which represent wisdom Forest green R0 G132 B82 Bottle green • The ground is strewn with English roses and Scottish thistles in R17 G179 B162 reference to the former London and Edinburgh-based professional Cyan bodies R0 G156 B200 Light blue R124 G179 B225 • The armorial bearings are topped with a woolsack (again with the Violet R128 G118 B207 mathematically wavy line), which is a recall of the trade in wool at Staple Inn, where the profession has its headquarters. Purple R143 G70 B147 Fuscia R233 G69 B140 Red R200 G30 B69 Orange 3 R238 G116 29 Colour palette for PowerPoint presentations Primary colour palette Dark blue Student membership R17 G52 B88 Gold R217 G171 B22 Mid blue • Over 26,000 members R64 G150 B184 Light grey R63 G69 B72 • Around 12,000 are fully qualified actuaries Secondary colour palette Dark grey R63 G69 B72 • Around 50% of members are students Pea green R121 G163 B42 • Around 58% of student members are based outside the UK Forest green R0 G132 B82 Bottle green • To join the student membership: R17 G179 B162 Cyan http://www.actuaries.org.uk/students/pages/how-register- R0 G156 B200 student Light blue R124 G179 B225 Violet • Reduced annual subscription of £70 if income is no more R128 G118 B207 Purple than 30 times of the current annual subscription R143 G70 B147 Fuscia R233 G69 B140 Red R200 G30 B69 Orange 4 R238 G116 29 Colour palette for PowerPoint presentations IFoA Exams Primary colour palette Dark blue R17 G52 B88 Gold We offer varied routes to fellowship: enterprise risk R217 G171 B22 Mid blue management, finance, general insurance, health and care, R64 G150 B184 Light grey investment, life insurance and pensions: R63 G69 B72 Secondary colour palette • Core technical - nine subjects, CT1 – CT9 which CT9 is the Dark grey R63 G69 B72 Business Awareness exam Pea green R121 G163 B42 Forest green • Core applications - three subjects: CA1 – CA3 which CA2 R0 G132 B82 Bottle green is the Modelling exam and CA3 is the Communication exam R17 G179 B162 Cyan R0 G156 B200 • Specialist technical - you need to pass or be exempted Light blue from two of the nine ST subjects available R124 G179 B225 Violet R128 G118 B207 • Specialist applications - you need to pass one of the seven Purple R143 G70 B147 SA subjects available. No exemptions are available Fuscia R233 G69 B140 Red R200 G30 B69 Orange 5 R238 G116 29 Colour palette for PowerPoint presentations Primary colour palette Dark blue R17 G52 B88 Written Exams – Specialist Topics Gold R217 G171 B22 Mid blue R64 G150 B184 Subject Specialist Specialist Practice Light grey R63 G69 B72 Technical Applications Module Secondary colour palette Dark grey TWO of: ONE of: ONE of: R63 G69 B72 Pea green Health & Care ST1 SA1 P1 R121 G163 B42 Forest green Life Insurance ST2 SA2 P2 R0 G132 B82 Bottle green General Insurance ST7, ST8 SA3 P3 R17 G179 B162 Pensions ST4 SA4 P4 Cyan R0 G156 B200 Finance n/a SA5 P5 Light blue R124 G179 B225 Investment ST5 SA6 P6 Violet R128 G118 B207 Derivatives ST6 n/a n/a Purple R143 G70 B147 Risk Management ST9 n/a n/a Fuscia R233 G69 B140 Red R200 G30 B69 Orange 8 October 2013 6 R238 G116 29 Colour palette for PowerPoint presentations Exemptions offered Primary colour palette Dark blue R17 G52 B88 Gold • University Courses: There are universities in Asia currently R217 G171 B22 Mid blue obtained IFoA CT subjects exemptions, apart from CT9 R64 G150 B184 Light grey R63 G69 B72 • Some universities in the UK offer higher level subject Secondary colour palette exemptions Dark grey R63 G69 B72 • CT9, CA2, ST9 and SA subjects cannot be exempted Pea green R121 G163 B42 Forest green • Other Actuarial Associations R0 G132 B82 Bottle green Qualifying time different for different people, but on average 3-6 R17 G179 B162 Cyan years in the UK R0 G156 B200 Light blue R124 G179 B225 CT exams are mathematical and finance focused, more Violet bookwork less application R128 G118 B207 Purple R143 G70 B147 CA, ST and SA exams are more application based type of Fuscia questions, diversified thinking R233 G69 B140 Red R200 G30 B69 Orange 7 R238 G116 29 Colour palette for PowerPoint presentations Primary colour palette Dark blue Written Exams – Tips for success R17 G52 B88 Gold R217 G171 B22 Mid blue R64 G150 B184 • Before the exam: Light grey R63 G69 B72 – Plan study time – use of study leave Secondary colour palette – Study course fully – in good time! Dark grey R63 G69 B72 – Know and understand the material Pea green R121 G163 B42 – Do practice questions Forest green R0 G132 B82 • ActEd assignments – get them marked Bottle green R17 G179 B162 • Past exam papers Cyan R0 G156 B200 • During the exam: Light blue R124 G179 B225 – Time management/planning Violet R128 G118 B207 – Use sub-headings, bullet points for ‘wordy’ questions Purple R143 G70 B147 – Answer the specific question asked Fuscia R233 G69 B140 – Don’t panic! Red R200 G30 B69 Orange 8 October 2013 8 R238 G116 29 Colour palette for PowerPoint presentations Qualification Class Primary colour palette Dark blue R17 G52 B88 Gold • Associate: Pass all CT and CA1(From July next year), one R217 G171 B22 Mid blue year work-based skills, complete Professional Skills Course R64 G150 B184 Light grey R63 G69 B72 • Fellow: Pass all ST and SA exams, three years of work- Secondary colour palette based skills and take a Professional Skills Course within 12 Dark grey R63 G69 B72 months of transferring to Fellow Pea green R121 G163 B42 • Chartered Enterprise Risk Actuary: a global risk Forest green R0 G132 B82 management qualification; pass ST9 and become Associate or Bottle green Fellow R17 G179 B162 Cyan R0 G156 B200 • Certified Actuarial Analyst Light blue R124 G179 B225 Violet R128 G118 B207 Purple R143 G70 B147 Fuscia R233 G69 B140 Red R200 G30 B69 Orange 9 R238 G116 29
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