An actuary is a professional who works with statistics to represent life or business scenarios in numbers. If climate change really happens what financial impact will it have on a certain industry? If a 1000 people take car insurance how many will exercise a claim and of how much? Questions such as these are answered by an actuary for employers in industries such as insurance, finance, investment and government.

One has to take the ACET –“Actuarial Common Entrance Test” conducted by the Institute of Actuaries of India, to become a student. Students have to clear a series of tests, about 15, to become an associate member of the Institute of Actuaries of India.

One can appear for the ACET after passing class 12 but many complete a B.Sc in Maths, Commerce or Statistics before applying. People from across different professional backgrounds such as Management, CA, Engineers appear for the ACET.

After clearing the ACET, you can take up exams to become an actuary while working full time, under an existing actuary.

Actuaries work for insurance companies, for pension funds, investment companies, consulting companies and government or regulatory organizations. They are also employed as risk managers in a host of finance and finance related industries.

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