Statistics and Actuarial Career

College Majors
1

<p>Hi.</p>

<p>After wrestling with majors for a long while, which has taken a pretty large toll on me, I've decided to stay with statistics (Statistics B.S.). I might minor in geology since that's what I like too. xD</p>

<p>At the same time, I really don't want to stay in school that long. Don't ask, but I think I'd rather go work earlier. </p>

<p>I've done some research but I'd like to know more. </p>

<p>If anyone has knowledge on this subject, here are some questions:</p>

<p>1) Is a bachelors all I really need? Do actuary employers (usually insurance carriers) sponsor or encourage further education?</p>

<p>2) The websites "beanactuary.org" states that it takes "4-8" years to finish the exams. Um, what? It shouldn't take any more than 2 years...</p>

<p>3) If I decide midway to not be an actuary (for whatever reason, let's say I go further into statistics) is the transition going to be anything but easy? 'Cuz I gotta study for all those annoying exams and such. </p>

<p>I might have more questions but that's it for now.</p>

2

<p>While it’s possible to finish all of the exams earlier, it’s probably not too common.</p>

<p>Remember, past exams 1-4, you will be working full time as an actuary. So the ability to study for exams while working will be limited. Also, the pressure is probably off a bit (passing the first series of exams), so people probably take more time through the next series of exams.</p>

<p>Also, I think the next series of exams are actuary type specific (life vs casualty/property), so there are different things to study for depending on the type of actuary you become.</p>

<p>I’ve heard it takes approximately 200-400 hours of study time for each test. Max that out over 7 to 9 tests, and you are looking at 3600 hours of study time (max). </p>

<p>If you constantly studied 40 hours a week to complete the exams, it would still take you 90 weeks (let’s just round that up to 2 years)!</p>