How Do I Get an Actuary Internship?

The British actuary qualification examination has a history of more than 160 years. In 1994, the Central University of Finance and Economics introduced the British Actuary Qualification Examination for the first time. In 1998, Shanghai University of Finance and Economics established China's second British Actuary Examination Centre in Shanghai.

British Actuary Exam

Right!

Chinese name: British Actuary Exam
Start history: Over 160 years

Series: A, B, C, D, E
Introduction time: year 1994

Before 2000, the actuarial qualification examination in the UK was divided into five series: A, B, C, D, and E.

Since 2000, the British actuary qualification examination system has been reformed in four series: 100 series (including 9 courses in financial mathematics, actuarial mathematics, and economics), 200 series (1 course in "communication skills"), and 300 series ("Investment and "Asset Portfolio", "Life Insurance Actuarial", "Property Insurance Actuarial", "Pension" 4) and 400 series (select one from the four qualification exams of life insurance and property). Candidates who pass all the exam subjects in the first three series of exams can obtain a quasi-actuary qualification certificate. After passing any one of the 400 series subjects, they can obtain the actuary qualification certificates issued by the Actuarial Society of England and the Actuarial Society of Britain.

Beginning in 2005, the British Actuarial Society has implemented a new education and examination system. The system is based on the International Actuarial Education Guide issued by the International Actuarial Society in 1998. It divides the education and examination system into four major sections, clearly distinguishing them. The basic courses and special courses necessary for engaging in actuarial careers have adapted to the current international trend of actuarial education.

English Actuary Examination Exam Subjects

1. Core Technical Stage

New subjects	Corresponding old subjects	exam subjects	examination time
CT1 Financial Mathematics	102	Yes	3 hours
CT2 Finance and Financial Reporting	108	Yes	3 hours
CT3 Probability and Mathematical Statistics	101	Yes	3 hours
CT4 Models	103 & 104	Yes	3 hours
CT5 Contingencies (Contingent Events)	105	Yes	3 hours
CT6 Statistical Methods	106	Yes	3 hours
CT7 Economics	107	Yes	3 hours
CT8 Financial Economics	109	Yes	3 hours
CT9 Business Awareness		no	-

CT9 Business Awareness (Business Essentials) mainly involves understanding of relevant industry background knowledge. The specific content will be disclosed later. The Actuarial Society of the United Kingdom stipulates that student members who have registered before June 30, 2004 and have taken the test do not require this course.

2. Core Applications Stage

New subjects	Corresponding old subjects	exam subjects	examination time
CA1 Actuarial risk management	301, 302 or 303 or 304	Yes	3 + 3 hours
CA2 Modelling course (model design)		no	-
CA3 Communications (communication skills) (propositional thesis writing)	201	no	-
CA3 Communications-Chinese (Communication Skills)

3 Specialist Technical Stage

New subjects	Corresponding old subjects	exam subjects	examination time
ST1 Health and Care		Yes	3 hours
ST2 Life Insurance	302	Yes	3 hours
ST3 General Insurance (non-life insurance)	303	Yes	3 hours
ST4 Pensions and other Benefits	304	Yes	3 hours
ST5 Finance and Investment A	305	Yes	3 hours
ST6 Finance and Investment B	CID	Yes	3 hours
ST7 General insurance: reserving and capital modelling		Yes
ST8 General insurance: pricing		Yes
ST9 Enterprise risk management		Yes

4 Specialist Applications Stage (SA)

New subjects	Corresponding old subjects	exam subjects	examination time
SA0 Reserach dissertation (not examined) (Research Paper)		no	-
SA1 Health and care		Yes	3 hours
SA2 Life insuance		Yes	3 hours
SA3 General insurance		Yes	3 hours
SA4 Pension and other benefits		Yes	3 hours
SA5 Finance (Finance)		Yes	3 hours
SA6 Investment		Yes	3 hours

British Actuary Exam Receives Certificate

Student Member:

1. Diploma in Actuarial Techniques

The following subjects are required: CT1, CT2, CT3, CT4, CT5, CT6, CT7, CT8 and CT9.

2. Certificate in Finance and Investment

The following subjects are required: CT1, CT2, CT4, CT7, CT8, CT9 and CA1

Associate Actuary Member:

The following subjects are required: 9 CT series, 3 CA series

Actuary Member:

The following subjects are required: 9 CT series, 3 CA series, 2 ST series, and 1 SA series.

How to register for the Actuarial Examination in the UK

According to regulations, only members of the Actuarial Society of the United Kingdom can register to take the exam. A student membership fee is paid to the club each year).

British Actuary Examination Member Classification

The members of the Institute of Actuaries of the United Kingdom are divided into 6 categories, namely: student members, intern actuary members, actuary members, prestigious members, prestigious overseas members and chartered members. The various members are introduced as follows:

1. student. To become a student member of the Institute of Actuaries of the United Kingdom, you must pass an exam and be registered. Students may attend meetings of the Society of Actuaries without voting rights. They do not participate in annual membership meetings or other plenary meetings except at the invitation of the president of the society.

2. Intern Actuary. The Institute of Actuaries' Actuaries must pass the examination of all courses (except for those who are exempt from the exam) and must be 21 years of age or older. Before June 9, 1975, members can become intern actuaries through the examination of the first 6 courses. An intern actuary certificate will be issued to the intern actuary. The English name of intern actuary is ALA.

3 Actuary. Actuaries in the United Kingdom must pass the examinations of all courses (except for those who are exempt from the exam). They must have more than 3 years of actual actuarial work experience and be over 23 years old. For members before June 9, 1975, they can become actuaries through examinations. Those who have made outstanding contributions to the actuarial scale may be exempt from the exam and become actuaries, but the following prerequisites must be met; more than two-thirds of the members vote for the exemption, and at the general meeting of members, more than three-quarters of the members will vote for.

An actuary certificate will be issued to the actuary. Actuary is abbreviated as FIA in English.

4 Fame members. Contribute to a higher status or make outstanding contributions in academia, and have links with the Actuaries Association, which can help to promote the growth of the Actuaries Association, and not directly engaged in actuaries, can become a prestigious member. However, the following prerequisites must be met: more than two-thirds of the members voted in favor of accepting them to become members; when voting at the general meeting, more than three-quarters of the votes were in favor.

Reputable members can join member plenary meetings, join negotiations and submit papers. But prestige members do not have the right to vote.

5. Fame overseas members. Those who are engaged in actuarial work outside the UK and can provide support to the Society of Actuaries can become prestigious overseas members. But the following premise must be satisfied: more than 2/3 of the members voted in favor. Fame Overseas Members have the same rights as Fame Members.

6. Charter member. For those who have common actuarial knowledge, the Society of Actuaries may accept them as chartered members. The premise of chartered members is controlled by the Society of Actuaries and adjusted at any time. A chartered member has the same rights as a prestigious member, but he must pay an annual membership fee.

UK Actuary Exam Exam Time

The British Actuary Qualification Exam is held twice a year and is scheduled in April and September.

UK Actuary Examination Registration Address

(1) Central Acta of Finance and Economics UK Actuarial Examination Centre Chinese Actuary Qualification Examination

Address: No. 39 Xueyuan South Road, Haidian District, Beijing, 100081 China Actuary Qualification Examination

(2) Shanghai Acting Actuarial Examination Centre of China

Address: No. 777 Guoding Road, Shanghai, 200433 China Actuary Qualification Examination