Actuaries? (1 Viewer)

[WildestDreams]

Sooo what kind of maths do actuaries do? Like what's the main maths they do? Like is it probability, stats, calculus, perms and combs?
Is it hard? How much harder is it compared to 4U maths?

Any help appreciated Just feeling a little curious..

 

[eyeseeyou]

Sooo what kind of maths do actuaries do? Like what's the main maths they do? Like is it probability, stats, calculus, perms and combs?
Is it hard? How much harder is it compared to 4U maths?

Any help appreciated Just feeling a little curious..

I heard the dropout rate for actuarial studies is a bit high at uni, mainly because the course is difficult (so in this case assume it is much harder than 4U. IIRC 3U was a prerequisite but 4U was recommended)

It involves financial maths obviously

I was told that the reason why actuaries get paid a lot (don't quote me on this) is because they help businesses survive (and prevent them from being bankrupt)

I also believe they are in high demand in society (once again don't quote me on this)

 

[motaba]

Statistics, probability, calculus and financial maths
It's hard in the sense that you don't really cover any of it in high school
Probably harder than 4u, but I wouldn't say by a big amount, the content just comes in a lot quicker and you have less support than high school

 

[WildestDreams]

Statistics, probability, calculus and financial maths
It's hard in the sense that you don't really cover any of it in high school
Probably harder than 4u, but I wouldn't say by a big amount, the content just comes in a lot quicker and you have less support than high school

Ohhh interesting. Are you an actuary?

 

[WildestDreams]

Anyone have more info???

 

[Shadowdude]

of course university maths is harder than high school maths


You touch basically nothing in high school.

Actuarial Studies is a mix of finance, commerce, statistics, and some pure mathematics, designed to quantify risk to help price things like insurance

 

[motaba]

Ohhh interesting. Are you an actuary?

Third year!
Actuarial also has a very heavy emphasis on uncertainty, in the sense that any solution you provide is usually some kind of prediction. As such, you learn a lot about how confident your prediction can be. E.g. instead of an aerospace engineer telling you how far a rocket can travel given weight, velocity, angle etc. an actuary will tell you that "there is a 95% chance the the number lies between x and y"
Being able to determine how useful your answer is has just as much importance as the actual answer

 

[D94]

Sooo what kind of maths do actuaries do? Like what's the main maths they do? Like is it probability, stats, calculus, perms and combs?
Is it hard? How much harder is it compared to 4U maths?

Any help appreciated Just feeling a little curious..

Do you mean at uni or in the workplace?