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Am I on the right track?? Please help.

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  • Am I on the right track?? Please help.

    My name is jack and I recently graduated from Stony Brook University with a concentration in Mathematics and Statistics. I havn't applied for any actuarial jobs, nor have I taken any actuary exams. I recently accepted a job offer as a casualty and property damage claims adjuster with a big insurance company. My idea was to get my foot in the 'insurance door' and hope to get an actuarial position sometime in the future (once I have passed at least one exam). My question is, is this a good idea or a waste of time. Are my chances of landing an actuarial position with this company good after being with them for 2 years as an adjuster and having passed 1 actuary exam?

  • #2
    "Claims adjuster" and "actuary" are in two separate worlds. About the only thing you'll gain out of being an adjuster that you could carry to being an actuary is an understanding of how incurred losses can explode for a claim. More than likely, the company is going to lock you into the claims side. It's possible you would be allowed to make the switch.

    Bottom line: get exams passed. Preferably the first two exams, one just won't cut it b/c seemingly everyone has the 1st exam and it seems like it's getting to the point that getting 1 and 2 aren't all that difficult either. Experience in another insurance area isn't going to help you get into the actuary field nearly as much as passing exams.
    "You better get to living, because dying's a pain in the ***." - Frank Sinatra

    http://www.hockeybuzz.com/blogger_ar...blogger_id=174 - where I talk about the Blues and the NHL.

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    • #3
      Thanks for your help.

      Thanks. Thats exactly what I wanted to hear... a straight forward answer. Now, my next question: What would you consider to be the best study text for passing exam 1/2. (Also, where can I find a good source of practice problems) I know I might sound like I am completely lost, but my school didn't have an actuarial program and I just graduated.

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      • #4
        Originally posted by Jackal
        Thanks. Thats exactly what I wanted to hear... a straight forward answer. Now, my next question: What would you consider to be the best study text for passing exam 1/2. (Also, where can I find a good source of practice problems) I know I might sound like I am completely lost, but my school didn't have an actuarial program and I just graduated.
        Don't feel bad. My college didn't have an actuarial program either, and someone still hired me.

        Your question is probably better suited in the forum regarding study guides and such; I was coming off of a stats class when I took 1 so I just relied on my college textbook for it, and I used the textbooks on the syllabus for 2.

        The study notes for 1 should have a slew of practice (read: past exam) problems that will give you a good idea of what to expect. In all honesty, past exam problems are arguably the best source of information you'll get about what to expect. If you're going to use a study guide for 1 and 2, check that forum and see what others are saying about the various guides.
        "You better get to living, because dying's a pain in the ***." - Frank Sinatra

        http://www.hockeybuzz.com/blogger_ar...blogger_id=174 - where I talk about the Blues and the NHL.

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