State Life Actuarial Training Scheme 2015
What is Actuarial Science?
Actuarial science deals with risk management. A qualified professional in Actuarial science is called an Actuary. The Actuary is a business professional who uses mathematical skills to define, analyze and solve financial and social problems. In dealing with such problems, actuaries create and manage programs which reduce the adverse financial impact of the expected and unexpected events like illnesses, accidents, unemployment, loss of property or premature death.
At the principal Office of State Life there is a separate division looking after all actuarial matters. From time to time State Life also inducts bright young students in its Actuarial Training Scheme, which provides an opportunity to acquire actuarial qualifications while engaged in practical actuarial work as an employee of State Life.
Duration of Course = 2 Years
Last Date to Apply = 22-03-2015
Stipend During Training = Rs. 5000 per month
State Life’s Actuarial Training Scheme
State Life has a program for recruiting freshly qualified intermediate (pre-engineering) and A-level candidates as ‘Actuarial Trainees’. Based upon its requirements and vacancies available, State Life invites applications by advertising in all the leading daily news papers of the country. The criteria and procedure for selection is mentioned in the advertisement, which is strictly followed. Based upon the progress of the actuarial students, they are promoted to higher grades.
The Society of Actuaries USA and Institute of Actuaries, UK, both conduct examinations in Pakistan through their representatives. For examinations of both the professional bodies, the student has to put in personal efforts to pass the examinations through self-study.
Process of registration for the examinations of both the professional bodies is simple and every student has to register on his own. Admission to the UK Institute as a Student member is not automatic and the candidate needs to apply for the membership of the institute. Both these bodies offer discounts to the students of developing countries. You may write to these bodies in order to obtain discounts.
Details about the syllabus, registration, examination structure, examination fees, discounts, etc is given in the Catalog, which can be obtained free of cost by writing directly to the respective professional bodies at the following address or visiting their websites:-
Institute of Actuaries
Staple Inn Hall
London WCIV7QJ, UK
Society of Actuaries
475 N. Martingale Road
Schaumburg, IL 60173-2226, U S A