An actuary is a business professional who analyzes the financial consequences of risk. Actuaries use mathematics, statistics, and financial theory to study uncertain future events, especially those of concern to insurance and pension programs.
How Much Does Actuaries Earn In Ghana
A Mathematicians, actuaries and statisticians typically earns between GH₵1,006 and GH₵2,684 net per month at the start of the job. After 5 years of service, this is between GH₵1,491 and GH₵3,971 per month for a working week of 40 hours.
How do I become an actuary in Ghana?
Admission Requirements
Applicants should have aggregate score of 24 (A-D) for SSSCE and 36 (A1 – C6) for WASSCE. Holders of GBCE Certificate must have Credit passes in five (5) subjects including Mathematics, English and Social Studies or Integrated Science in the General Business Certificate Examination (GBCE).
How long does it take to become an actuary?
For instance, it generally takes three to five years to complete the educational and testing requirements to get an entry-level job. However, it can take up to 10 years to become a fully qualified actuary. Many actuaries aim for associate status within five years.
Do you need certification to be an actuary?
Entry-level positions in the actuarial profession typically require a bachelor’s degree in an analytical subject such as math, statistics or actuarial science, notes that high-level actuarial jobs often require formal certification or licensure.
What kind of math do actuaries use?
On the job, the math that actuaries use isn’t as complex as it may sound. Actuaries primarily use probability, statistics, and financial mathematics.
They’ll calculate the probability of events occuring in each month into the future, then apply statistical methods to determine the estimated financial impact.
How actuaries use math in their careers?
Actuaries assemble and analyze data to estimate the probability and likely cost of an event such as death, sickness, injury, disability, or loss of property.
What are the disadvantages of being an actuary?
Educational requirements. Actuaries often have knowledge in a variety of disciplines.
Testing requirements. Actuaries often pass a series of exams before becoming fully qualified in their fields.
High level of responsibility.
Individual work.
Work environment.
What are the Actuarial Science Universities In Ghana?
- Kwame Nkrumah University of Science and Technology.
- Actuarial Science In University Of Ghana.
- Bsc Actuarial University of Cape Coast.
- Bsc Actuarial Science University for Development Studies.
- Bsc Actuarial Science Catholic University College of Ghana.