Science Degree Program in China - Actuarial Science

1. Introduction

Actuarial Science is the discipline that uses probability mathematical theory and a variety of financial instruments to analyze and forecast economic activities. Actuarial science plays an important role in insurance, investment, financial regulation, social security, and other areas concerned with risk management. The actuary is dealing with the uncertainty of the future. The purpose is to provide the basis for financial decision.

Actuarial science is a application of probability theory and mathematical theory and a variety of financial instruments, research on how to deal with the subject of quantitative methods and techniques for various risk problems in the insurance industry and other financial industry, is the theoretical basis of modern insurance industry, financial investment industry and the development of social security.

2. Actuary

An actuarial is a person who has been recognized of the qualifications by the financial and insurance regulatory authorities. In insurance companies, the actuary is the core talents of the core departments, has a high status, power and responsibilities. The main responsibilities of the actuary in the insurance company include:

1) New insurance product development and design

2) Insurance product management

3) Financial management

3. Actuary Training and Qualification Examination of Actuary

General actuary qualification examination is divided into two parts: quasi actuary examinations and actuary exam, quasi actuary exam content is that an actuarial personnel must master the actuarial theory and skills, and the basis of actuarial practice knowledge; actuary exam content focuses on senior actuarial professional courses and fine count practice, the content involves the operation of insurance companies, corporate finance, investment, corporate solvency ability management and many other content. Only through these two levels of learning and examination, the actuarial qualification certificate can be obtained.