I took a bunch of career surveys and this kept showing up at the top of my lists. I’m still trying to figure out what it is I want to do so thank you for clarifying what an actuary actually is.
@EtchedActuarial3 жыл бұрын
You're welcome! Hope this gave you some insight into the field. Be sure to check out the other videos to learn more! Here's a good one to watch before deciding whether becoming an actuary is right for you kzbin.info/www/bejne/d3TCZZSXrZ2ifKM
@audreyoreilly40553 жыл бұрын
I actually have had to find out what an actuary does for a script, so thanks so much for these!
@abdel44554 жыл бұрын
I've started watching your videos yesterday and I can't even believe how much I've learned. Thanks so much for clearing these things up! Also I can't imagine a video when you're not smiling the whole time :)
@KeyMan1376 жыл бұрын
That was a good description. As far as what an actuary does, maybe you could make a video talking about some of the tools and software that modern actuaries use such as R, Excel, VBA, SQL, SAS, Python, etc.
@EtchedActuarial6 жыл бұрын
Good idea! I'll add that to my list of possible video ideas. I do have this post that talks about programming if you're interested. etchedactuarial.com/programming-actuaries/
@makotovolare2 жыл бұрын
I am struggling to pass Japanese actuary exams. Your movies are very motivated for me ! Thanks !
@EtchedActuarial2 жыл бұрын
I'm so happy I could help! Good luck with your exams! :)
@Mqxwell4 жыл бұрын
Yo, love the video. I will definitely be watching more considering I'm about to be studying for my first exam and kind of feeling lost at the moment.
@EtchedActuarial4 жыл бұрын
Glad to hear that! Good luck :)
@omraphantom70312 жыл бұрын
When i learned about this career i have been doing very surface level versions of this math in my free time for fun, just with time and money maintain with games, doing interest, reinvestment values and such. This video has helped me a lot reaffirm my interest in this career as i am looking to start college than you much for this ❤️
@EtchedActuarial2 жыл бұрын
I'm so glad this video helped you! :) Wishing you luck with your actuarial journey!
@rezaetemad5916 жыл бұрын
well explained ...thanks please keep up the good work. love your channel
@EtchedActuarial6 жыл бұрын
Thanks Reza! Glad you're liking the channel :)
@hasan5626 жыл бұрын
You'll soon be influencing a lot more people Brea. Keep it up :)
@EtchedActuarial6 жыл бұрын
Thanks Hasan :)
@williamhutsch8514 жыл бұрын
I have always loved math in school but i never really knew what i could do with it other than being a teacher or a mathematician. This is a interesting course that i could go down.
@LarennJay4 жыл бұрын
Or u can go in financial advisor or a financial analyst
@victoriacoughlan66245 жыл бұрын
My daughter is thinking of becoming an actuary,... hopefully this video help her
@EtchedActuarial5 жыл бұрын
I hope so too! If she has any questions, she can certainly contact me and I'd be happy to answer. Support@etchedactuarial.com
@gheithothman47893 жыл бұрын
Away from "What is an actuary?", i have to say that i couldn't stop looking to your beautiful eyes . Great job, keep it up
@i_go_by_t_now5 жыл бұрын
I first heard about an actuary on Zootopia 😂
@naufalnoorizan17634 жыл бұрын
@African_beefcake in which part of the movie
@femichee51853 жыл бұрын
Yea tell us which part
@i_go_by_t_now3 жыл бұрын
At the beginning when most of them were young and were talking about what they want to be when older, the cub, the baby jaguar, spoke about going to be an actuary, while wearing a suit.
@femichee51853 жыл бұрын
@@i_go_by_t_now Reallyy omg that's so cute hahah
@alexiadrey9384 жыл бұрын
You would've also been a great teacher! You explained everything so well! Thank you!
@EtchedActuarial4 жыл бұрын
Glad to hear that! :)
@subrat3184 жыл бұрын
You deserve 1M subscribers !!
@tanyag82203 жыл бұрын
I learned everything I needed to know, thank you. Was a bit confused because I do like math and statistics but the betting part doesn't appeal to me. Will look into data science instead.
@mohsinraza25893 жыл бұрын
Hi! My mom was the one to tell me about actuarial sciences so i wanted to see if its an intersting career. Ive heards it pays alot and its easy to get a job in most countries in the world with this profession, now i dont know to what extent this is true. But i feel like this is an interesting career so im doing research on it ! Great video its pretty insightful
@EtchedActuarial3 жыл бұрын
Thank you! You might also find this video helpful if you're still deciding whether this career is right for you kzbin.info/www/bejne/d3TCZZSXrZ2ifKM
@Kheed_Kingsley9 ай бұрын
What if someone gets accidents a number of time?
@xKaL-eL4 жыл бұрын
I’m crashing right into the wall for the 5k lol 😂
@EtchedActuarial4 жыл бұрын
😂😂😂
@c.d33043 жыл бұрын
@@EtchedActuarial actuary sounds like data science to me, what's the difference?
@samuraijosh15953 жыл бұрын
@@c.d3304 Yeah, right..? Sounded almost the same to me. You take data, interpret it, model it using the programming languages, and use that model to guide customers to proceed in the direction that's beneficial for them. Isn't this basically data science...? I'm 17 and so confused, lol!
@lucienlachance3904 жыл бұрын
I just learned about this field today & am adding it to my 'list of possibilities' :) I have a B.F.A. and have been in game dev for around 6 years, but I'm quite burnt out and shopping around for a career change. If I was to pursue a career as an Actuary, do you recommend going back to school for a second Bachelor's or are the exams/the skillset the main thing employers focus on? I'm just gathering general info at this stage.
@EtchedActuarial4 жыл бұрын
Generally the exams and other skills/experience are what employers look for. It's probably not necessary to go back for a second Bachelor's degree. One will be good enough! Hope you've been able to narrow down your options and decide on one. :)
@FifaMaestroAdam4 жыл бұрын
What's the probability that I will lose interest in becoming an actuary in the future
@EtchedActuarial4 жыл бұрын
37.286947392761548%
@FifaMaestroAdam4 жыл бұрын
@@EtchedActuarial is this legit
@EtchedActuarial4 жыл бұрын
@@FifaMaestroAdam No lol. There's no way of saying how likely it is that you'll lose interest. If you've always loved math and problem solving, then it's probably not something you'll become disinterested in, especially if you've researched the career and it seems like a good fit for you. :)
@FifaMaestroAdam4 жыл бұрын
@@EtchedActuarial well thanks hahaha. I'm 17 right now and kind of clueless
@EtchedActuarial4 жыл бұрын
@@FifaMaestroAdam You have some time to figure it out then still! Do lots of research and maybe try talking to some people in the profession to get a sense of whether you'd like it or not.
@Xez19194 жыл бұрын
I was pretty interested in the profession till you said that it takes more than 5 years to pass all these 10 exams. In that case I rather go with a PhD.
@EtchedActuarial4 жыл бұрын
Ya, it's a long road! Worth it for some and not for others. Wishing you best of luck with your PhD!
@aleortega764 жыл бұрын
You're working and getting paid pretty well while you are taking the exams, so it's not like you have to wait to enter the profession until you've complete the exams. A typical student will have 2 exams completed when they start their first actuarial position (typically around 65k per year for first job)
@waldo293 жыл бұрын
Can you stop after getting an entry level job or do you at some point need to complete all of them
@cleogyrl2 жыл бұрын
@@waldo29 You can stop whenever you want to, but your employer might expect/require you to keep taking exams in pursuit of at least one credential (associate or fellowship) in order to stay employed with them. If you do stay employed in an actuarial role, you will likely be very limited in your earning potential.
@Anthony-mt1gp Жыл бұрын
I’ve seen a lot of sites say that you can go into the actuarial profession with a degree in mathematics. Do you know if that would also work on top of the majors you mentioned? Also, my college offers a minor in actuarial science and I was wondering if that would be beneficial? Thank you so much for these videos, they’re really helpful.
@OakQueso9 ай бұрын
Just pass exams. That's the most important thing. Quantitative degree and Python/Sql/R/etc. knowledge will help, but 2 exams and the ability to interview well is what you need to get an entry level job.
@lxf99144 жыл бұрын
So for the story, you would take into account the demographics of the individual, age, gender, commute etc, and use those statistics to asign towards her probability of getting in a reck as x. Then take the forcasted dollar amounts of the different scenarios, no reck , or reck, and average those dollar amounts with the probability x of getting in a reck according to your demographic info. Correct?
@EtchedActuarial4 жыл бұрын
Yes, that's right! In the real world, you'd also take into consideration the different times that she could get into an accident too. One year from now, two years, three years, etc. You'd take the probability of getting in a reck at year one, year two, year three, multiply by the forecasted dollar amount, and discount (due to time value of money). The weighted average of all possible scenarios discounted would give you the premium.
@errorstring6044 Жыл бұрын
While I was in school I was recommended/told by a few of my math teachers to get into actuary work
@SsMotha4 жыл бұрын
You are great...great...just great!!! Currently I'm studying for my exams for next year April, (CM1 and CM2 from IFoA). When I start losing hope or feel discouraged, I just watch one of your videos, it doesn't matter which one and it just fires me up!!! Thank you :)
@EtchedActuarial4 жыл бұрын
Love to hear this!! Keep up the good work :)
@keithhamilton19725 жыл бұрын
Nice, very clear and helpful
@elee66062 жыл бұрын
Thanks for the info. Betting is a better way to describe insurance
@EtchedActuarial2 жыл бұрын
You're so welcome! :)
@arsh7225 жыл бұрын
Thanks for info!
@bernardomondragonbrozon51825 жыл бұрын
Can you make video about how insurance companies come up with the market premium for a standardized product? It can be for any product. I just want to understand how to get out of the actuarial equivalence principle where the premium is calculated equating the actuarial present value of future premium payments and the actuarial present value of future liabilities. As an insurance company, it's obvious that I can't charge the expected value of future liabilities due to the fact that I have to be prepared to overcome deviations from the expected value in order to fulfill my obligations with the policyholders without going bankrupt.
@kingrahulgrover3 жыл бұрын
Well explained!
@EtchedActuarial3 жыл бұрын
Thanks!
@SmVor5 жыл бұрын
Hi Brea, your vdo is very helpful, but wondering if it is too late to start the exam in early 30s ? esp for those have finance and economic background
@EtchedActuarial5 жыл бұрын
No it's not too late! Many people start their actuarial journey at a later age. If you have experience that is somewhat related to actuarial work then that would be very beneficial. This post goes into a bit more detail about becoming an actuary in your 30s. etchedactuarial.com/becoming-an-actuary-at-30-40-or-50/
@Makaylah135 жыл бұрын
Do u recommend majoring in actu sci or math?What order are the exams taken in?
@EtchedActuarial5 жыл бұрын
Here are some blog posts that will help answer this: etchedactuarial.com/best-actuary-major/ etchedactuarial.com/actuarial-science/ etchedactuarial.com/best-order-actuarial-exams/ Hope these help!
@ediann3 жыл бұрын
Very good presentation hon. Are you studying to be an actuary? Have you taken your exams? Good luck❤️🙏💐
@ya000073 жыл бұрын
Why didn't you just say that an actuarial calculates the insurance premiums. And explain how they calculate them?
@JustMe-fx1uu4 жыл бұрын
Hello, this sounds really interesting. Can you suggest an appropriate UG major for me in finance (because finance is so vast) ? What universities in the United States offer coursework in actuarial science & internship opportunities?
@EtchedActuarial4 жыл бұрын
Anything finance would be fine - pick what interests you the most! And there are lots of universities that offer actuarial science. However, I don't recommend majoring in AS. There's a post about why here: etchedactuarial.com/actuarial-science/
@JustMe-fx1uu4 жыл бұрын
@@EtchedActuarial Thank you so much. I have also considered data science. Could it help in an eventual career as an actuary intern? Please advice. Thank you so much & happy new year!
@EtchedActuarial4 жыл бұрын
@@JustMe-fx1uu Certainly could!
@ronanhealy69693 жыл бұрын
Yup; there's a reason there's no TV dramas bases on actuaries.
@evilbane66804 жыл бұрын
Sounds super hard too
@EtchedActuarial4 жыл бұрын
It's hard, but worth it if it's a good fit job-wise for you! :)
@rapfarsibaza2 жыл бұрын
Hi thanks for your great channel! ❤️ Do the actuaries use different probability distributions for their calculations? (Binomial, Normal , Poisson and ....)
@EtchedActuarial2 жыл бұрын
Hi there! :) It depends entirely on what role the actuary is in!
@rapfarsibaza2 жыл бұрын
@@EtchedActuarial right 👌
@Rantofthings.4 жыл бұрын
Very insightful.
@littledogsbigdogs1637 Жыл бұрын
I kind of.. Remember a story, an old roommate told me... He gave a few+ grand in cash, out to a friend of his, in need. In the understanding that it will need repaying (which I understand was agreed upon, perhaps 'under the auspices' of repayment.. I wasn't really sure?)... This example happened nearly 15 years ago, prior of the time I was told... When my roommate was in need (give or take around 15 years later, at current time it happened, when I was told), he sought out his 'said' friend, "that obligation be repaid"? ... The 'said' friend started to speak up, of the like of 'statute of limitations' .. as if there wasn't legal reason to.. ..My question is, would an Actuarys' service be sought out in an example here? If not.. Where would one start? I appreciate your time..
@OakQueso9 ай бұрын
lawyer
@ryanbebbi5 жыл бұрын
Very insightful, thank you... but just one thought... Band camp!
@joe123fly3 жыл бұрын
She is so smart 👍
@EtchedActuarial3 жыл бұрын
Thank you! :D
@ramadeshpande3113 жыл бұрын
Helpful for introduction to actuary Mam is it really so hard to become an actuary🤔🤔🙄
@EtchedActuarial3 жыл бұрын
It's definitely a long process with all the exams, but doable if you set your mind to it and stay motivated
@ramadeshpande3113 жыл бұрын
@@EtchedActuarial ok mam trying to get into it One more question mam Does it includes categories for exam ranks or that like stuff
@EtchedActuarial3 жыл бұрын
@@ramadeshpande311 I'm not sure what you're referring to but the process is different depending on where you want to work as an actuary
@ramadeshpande3113 жыл бұрын
@@EtchedActuarial got it mam And glad that you are taking comments into consideration cauz in many of the channels we keep commenting and no one responds Thank you so much😊
@EtchedActuarial3 жыл бұрын
@@ramadeshpande311 You're very welcome 😊 Good luck!
@diablo62502 жыл бұрын
I've always loved mathematics, especially applied science I'll apply for colleges in November, and actuarial sciences always appealed to me. But how much math do you really use?
@EtchedActuarial2 жыл бұрын
Hi Ahmad! Actuaries mostly use probability, statistics, and financial mathematics, and they use math every single day! Luckily the math you'll do daily isn't as hard as what you'll probably learn on the exams. I hope that helps! :)
@johntalon28836 жыл бұрын
Great video :)
@EtchedActuarial6 жыл бұрын
Thanks John!
@naufalnoorizan17634 жыл бұрын
Umm, could you please explain all the 5,000 and 300 I dont really get the whole situation, like who is giving the money and is the money going to be given exactly in the momment or when the accident occurs, please answer
@JustMe-fx1uu4 жыл бұрын
The person who is giving the $300 is the person (the insured) hoping to get $5000, if they (the insured) get in an accident within 10 years. The person who is receiving the $300 is the person (insurance company) who will be giving out $5000 if the individual (the insured) does get into an accident within 10 years
@m4tt09022 жыл бұрын
Hi! I'm just wondering whether this is in the US or elsewhere? Thanks:)
@EtchedActuarial2 жыл бұрын
Hi there! All of my videos are based on the actuarial journey in the US and Canada. Hope that helps! :D
@sumittamang35483 жыл бұрын
does an actuary earn more than other people taking another major?
@EtchedActuarial3 жыл бұрын
It really depends on what you're comparing to. But fully qualified actuaries do earn a good salary!
@biggSHNDO Жыл бұрын
Those freckles are so cute. Thanks for the info.
@shahwiqarshahin21302 жыл бұрын
I got my maths degree 20 years ago. I wish i became an actuary; it'd come in handy for me now. 😕
@EtchedActuarial2 жыл бұрын
It's not too late to start now if this is the right career for you! kzbin.info/www/bejne/b3jPeGZjhcSVhNk
@hph96142 ай бұрын
I've heard actuary data is what determined who won the presidential election in 2016. Trump was decided based on actuary collected data. Imagine that.
@vickyr43542 жыл бұрын
Google gave a 40 minutes ad before this video 🙄
@EtchedActuarial2 жыл бұрын
Yikes, sorry about that! I hope you enjoyed the video though!
@vickyr43542 жыл бұрын
@@EtchedActuarial I very much enjoyed the video. Thank you for your efforts.🙂
@jeffreyberg356 Жыл бұрын
I'm not interested in insurance. Or, finance. What job can I get with a degree in Actuary.
@OakQueso9 ай бұрын
Actuary or analyst or teacher basically.
@waterhead0012 жыл бұрын
Being an Actuary looks as if it is a great career, but I don't have the math skills.
@brinstanriziki37724 жыл бұрын
What if someone does not have skills on business studies will actuarial still be a proper major for that person??
@EtchedActuarial4 жыл бұрын
Yes, but good skills to have would be a good foundation or interest in math, statistics and finance. You can read more about whether you will be a good fit for the profession here: etchedactuarial.com/should-i-be-an-actuary/
@raultanguilig154 жыл бұрын
Licensed Actuary = attorney? according to one Congressman
@urgoodluck43023 жыл бұрын
In ur opinion actuary(bet) is good job in India??
@fernandopino78473 жыл бұрын
What? Wait how hard are the questions or why do they take too long?
@EtchedActuarial3 жыл бұрын
Yes the questions are difficult, and you will have to learn a lot of material before taking the exams. It can take hundreds of hours to become fully prepared!
@parthjain19883 жыл бұрын
Hey, I have seen most of the people who are pursuing actuarial science working in Insurance sector but I do have interest in finance industry but I am unable to find any clue where and what to start. Can you help??🙄🙄
@EtchedActuarial3 жыл бұрын
Hi Parth, you can start by researching banks and other financial institutions that hire actuaries. From there you can take a look at their job postings to see what requirements they need or reach out to someone for a quick coffee chat!
@parthjain19883 жыл бұрын
@@EtchedActuarial Thank you for responding:-)
@Nidhsa10 ай бұрын
Im going to major in pure mathematics, is being an actuary an option for me?
@EtchedActuarial10 ай бұрын
Yes! The actuarial field has tons of math concepts. So you, majoring in mathematics will give you great advantage in your actuarial journey!
@Out1sSaidAsOat4 жыл бұрын
I missed my econ exemptions :(
@aishatafolabi855710 ай бұрын
Please I’m not really good at maths can I still study actuarial science?
@EtchedActuarial10 ай бұрын
Yes! Math can be taught and learned. Besides, you should also be someone who's analytical and good at interpreting data. You see, being good at math isn't the only important skill to become a good actuary. As long as you're persistent, highly motivated, and willing to learn, then you're fine and you'll be a great actuary. 😊
@OakQueso9 ай бұрын
Man, honestly if you're not good at math you'll have a super rough time. These exams are brutal. I definitely would not recommend becoming an actuary if you're not good at math unless you have extremely good work ethic (i.e. studying for hours everyday for years). Still, some of the exams are functional math IQ tests, testing your problem solving ability as much as your knowledge on the subject. This is especially what the exams are like as you go higher up. You can definitely pass the first few exams with enough work, but you might be limited at a near entry level position if you can't pass the higher level exams. You can still make good money in that position, but it's not a place I would want to be stuck at. Some people can not pass these higher up exams, even being good at math. I've seen people fail fellowship exams multiple times and give up.
@low-ratedduelists92244 жыл бұрын
I can see banks and loaners really wanting to hire these people
@EtchedActuarial4 жыл бұрын
They do!
@angiel27104 жыл бұрын
Very very smart
@hamzahaji41413 жыл бұрын
what if the person fakes a crash?
@EtchedActuarial3 жыл бұрын
There are procedures that companies follow to investigate accidents.
@managerruss30064 жыл бұрын
I have a bachelors in Mathematics. Is A lot of calculus involved?
@EtchedActuarial4 жыл бұрын
The first few exams do require quite a bit of calculus, but after that it is rarely used.
@JustMe-fx1uu4 жыл бұрын
@@EtchedActuarial could you suggest an appropriate UG Finance major as finance is so vast (accounting / business / economics etc)? Will majoring in *data science* help? If I end up not passing the exams, I want to make sure I can still work in the finance field thanks to my UG major coursework. I was / am very interested in stock & market analysis but you just introduced me to what seema to be a very very interesting field! Thank you for any advice you can give me. Much appreciated!
@ma-tanica4 жыл бұрын
Do actuaries mostly do excel spreadsheets?
@EtchedActuarial4 жыл бұрын
Yes a lot of their work is in Excel.
@makug Жыл бұрын
Can anyone sum up what an actuary is?
@OakQueso9 ай бұрын
Put data into excel sheet and get insurance price. Manage excel pricing models when you pass enough exams.
@makug9 ай бұрын
@@OakQueso ty!
@freespirit73284 жыл бұрын
Hi..😊👍
@shashivulsa90724 жыл бұрын
Is actuary a tough career??
@EtchedActuarial4 жыл бұрын
Actuary can definitely be described as a tough career. It requires a lot of problem solving skills and critical thinking on the job. Additionally, you'll have to be motivated to complete the actuarial exams and develop relevant skills. However if you are someone who enjoys challenges and love working with math, it can also be a very rewarding career. You can read more about whether it would be a good fit for you here: etchedactuarial.com/should-i-be-an-actuary/
@kokaloftmdsumon52352 жыл бұрын
Hi
@EtchedActuarial2 жыл бұрын
Hello! :)
@ramakanthkulkarni75253 жыл бұрын
I too first time
@EtchedActuarial3 жыл бұрын
Thanks for watching!
@evilbane66804 жыл бұрын
Interesting
@lemontea0006 жыл бұрын
@ya000073 жыл бұрын
Your analysis is misleading A "bet" is gambling for financial gain. The end user will place a bet in order to try to make a financial gain. They may bet on a team/event thinking that it will WIN and try to profit from it. There's an event taking place which is binary, win/lose or yes/no. Insurance is not to make a financial gain but to cover or protect your asset if it gets damaged such as a car/house etc. The idea is not to make a financial gain but to protect the underlying asset from financial damage. There's a massive difference. Please don't conflate the two issues.
@UnderscoreZeroLP4 жыл бұрын
you got beautiful eyes though
@peacelove64555 жыл бұрын
When I grow up, I want to be an actuary....said no-one XD
@PaulMoorshead3 жыл бұрын
True but pretty much every actuary I know loves their job!
@akur8-solution2 жыл бұрын
Great explanation of the actuarial profession Brea! We asked the same question to random people on the streets of London. Check out how many people it took to define what an actuary is: kzbin.info/www/bejne/opjNeaeqa5d8irc
@EtchedActuarial2 жыл бұрын
Oh cool! I'll definitely have to check this out! Thanks for sharing! 😊
@FkYouProbably5 жыл бұрын
You seem so sweet lol
@haveatyou13 жыл бұрын
The first 1 minute reinforced my decision not take this job seriously. Should have predicted Covid-19 clairvoyant actuarist!
@YoYo-nt7yf3 жыл бұрын
I love playing fair Been looking for this vid The main hard step_ E X A M S!!!