Education Blog – Online Universities and Colleges Blog

An actuary is a professional who is an expert at assessing the risk & uncertainties involved with financial security & minimize losses in the most analytical way. This profession was more or less behind the scenes and gauged very little attention of the students. Actuaries mathematically evaluate the probability of events and compute the contingent outcome which is helpful to take measures to minimize their financial impact when they occur. It requires analytical skills, business knowledge and understanding of human behavior and the vagaries of information systems to design and manage programs that control risk.

Actuaries have strong computer skills and be able to expand and use spreadsheets and databases, as well as standard statistical analysis software. Person with knowledge of programming languages, such as Visual Basic for Applications, SAS, or SQL, is also valuable. Companies also increasingly desire well-formed individuals who not only has well-built practical background, but also possess some training in business and seizes strong communication skills. Good interpersonal skills also are important, particularly for consulting actuaries.       

An actuary must possess certain knowledge as well as skills

Knowledge requirement

1. Mathematics: understanding of algebra, geometry, calculus, arithmetic, statistics & their application.
2. Verbal communication: understanding the content & configuration of “English language “is a necessity, plus grammar skills, spelling of words is also a must.
3. Economics & accounting: understanding of economics& accounting ethics & practices, the financial markets, banking and the analysis and coverage of financial data.
4. Administration & management: understanding of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and co-ordination of people and resources.
5. Law & government:  data & facts of law, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
6. Sales& marketing: understanding the principles & methods of showing product, promoting selling techniques. These also consist of product demonstration& marketing strategy & plans.

Skill requirement

• Must be clear with mathematical principles & its application
• Understanding the statistical reports & drawing apt conclusions from it
• Must have considerable knowledge of accounting ethics & practices & fully acquainted with economic & banking policies
• Must be an apt at showcasing, promoting & selling techniques & drawing marketing plans.
• Must have decision making skills considering the relative costs and benefits of potential actions to choose the most appropriate one.
• Must give full attention to what other people are saying, asking question as appropriate.
• Should be good at understanding written sentences and paragraphs in work related documents.Coordinating with others during work.Supervising one’s own time & others timing too.

An actuary has a wide future scope. Employment in this field is expected to cultivate much faster than any other occupation. Competition will be high and soon the number of candidates is expected to increase. Actuaries are supposed to increase by 20 % over the 2008—18 periods, which is much faster than any other occupation.

Since time immemorial much importance has been given only to studies or knowledge related to books. Many parents pressurize their children only for studies. It has often being noticed that even those students are pressurized who are already good at studies. Many parents think that success can be achieved only by studying and reading books and not otherwise. Every person is special and different from one another. In this world of cut throat competition for studies and jobs, the role of extracurricular activities cannot be undermined.

A student addicted only to books can find himself in trouble at a later stage. No doubt studies are of utmost importance and should be the central focus of all the students but having only bookish knowledge is not enough for living life to the fullest. There are many other activities that should be encouraged by parents and can be pursued after the college timings thereby not affecting studies.

Extracurricular activities help in developing an overall personality of a student. Just by being book worm will not help in building confidence. There are many activities through which a student gets experience that will be helpful in future. A sport is one such activity that no only helps in gaining confidence but also contributes to good health. There are many other activity that a student can undertake by considering his interest and physical and mental capacity.

Sport can also be categorized into various heads such as swimming, cycling, boxing, karate, baseball, football etc. There are many colleges which gives these facilities for their students. A student after completing school should look out for colleges which give equal importance to such extracurricular activities. Such colleges helps students save time as such activities can be performed in the college itself. Students need not join any other club thereby ensuring that they don’t waste their time and energy.

A student, who sets aside some time for activities other than studies, will find himself mentally relived. It can introduce him or her to a new group of people and help in socializing. It will also help him or her in developing a team work as many activities such as baseball or a football involve interacting with other people. Just by reading books a person will find himself confined. There should be a fine balance between studies and extracurricular activities. Studies should not suffer because of other activities and vice versa.

Since time immemorial human beings are known to have a great appetite to acquire knowledge. They have traveled from one place to another to satisfy their hunger for the sake of knowledge. Many great inventors skipped their meals and have gone without sleep to achieve education and knowledge. The invention of telephone by graham bell, the invention of electricity etc has all improved our life in one way or the other. Today we can drive easily and reach our destination safely due to the people who thought of inventing something that can make journey easy for human beings. With a click of a button you can get the news of the world on a single screen.

Just as knowledge has made life easy for us, there are some warning signs that need to be checked if we want a peaceful life for the future generation. For long knowledge has been misused by some anti social elements to achieve their personal goals. The most dangerous is the nuclear weapons which are possessed by almost all the countries and are a very big threat to the very existence of human beings. According to the reports if all the nuclear weapons in world are used, the entire world can be destroyed at least ten times.

People’s lust for money has made them achieve success by hook or by crook. They have abused the environment that has resulted in global warming. Trees have been chopped; industries are releasing toxic waste in the air as well in the river polluting and creating health hazards for the people. Attempts are being made to break every law in the book so that money can be minted.

With revolution in information technology education and handling work in offices has become easier. At the same time children are being spoiled in the name of video games. Children spend huge amount of time in front of television and computer sets which hamper their overall personality.

Education is a gift of God. If used properly, it can work wonders and benefit people in a number of ways. On the other hand misuse of knowledge can be disastrous. The tsunami which resulted in the death of so many innocent lives was nothing but the result of abusing the environment. Fire helps us in cooking but it can also burn and destroy things if not handled properly. Similarly education and knowledge if used for the benefit of the people can be boon for the society or else the day is not far off when the very existence of human beings will be questioned.