With the concept of insurance deeply rooted in people's hearts, an actuary, once known as "still hiding half her face from us behind her guitar", gradually stepped out of the narrow confines recognized only by the industry, and began to attract the attention of people of insight, showing a trend of rapid popularity.
Introduction to the Company
Among the universities that have opened undergraduate or postgraduate actuarial majors in North America, such as Nankai University, Shanghai University of Finance and Economics, Hunan University of Finance and Economics, Fudan University and so on, Central University of Finance and Economics is the earliest and only one in China that is committed to introducing and always adhering to the British actuarial teaching system and examination system. Since 1993, when the first batch of graduate students of actuarial science were successfully enrolled, 27 students have obtained "actuarial skills certificate", and 9 of them have obtained "investment and finance certificate" in addition. The passing rate of each of its students is the highest in the world, which makes the British Association of Actuaries sit up and take notice. The project is the fruit of Sino-British cooperation, and is sponsored by the famous British Eagle Star Insurance Company, a member of Zurich Financial Services Group, and bears a huge amount of expenses such as membership fees, materials fees, examination fees, teaching materials fees, and part of tuition fees.
Passing the British actuary qualification examination is a long and arduous exercise and struggle, which requires not only higher intellectual factors, but also the spirit of daring to bear hardships and perseverance, and good health is also essential. Even in Britain, where the mother tongue is used to take the exam, generally speaking, it is almost impossible to win the actuary certificate without a protracted war of 8-1 years. In addition, although doctors, professors and actuaries from Shiloh Watt University, British Actuaries Association and Eagle Star Insurance Company came to China to provide short-term teaching, answering questions and reviewing guidance, the characteristics of the exam determined that it was still impossible to pass smoothly without strong self-study ability.
At present, this postgraduate major of the Central University of Finance and Economics is enrolled in the name of the tutor group. Those students who are good at English communication skills, have a high level of English reading, have a thorough understanding and strong interest in the nature and application of probability statistics, and also have a relatively rich knowledge of economics will be appreciated and favored by the tutor group.
general situation of enrollment
The graduate students in actuarial science of Central University of Finance and Economics have enrolled three classes of students in 1993, 1995 and 1997, and the enrollment work in 1999 is drawing to a close. As in previous years, in 1999, the number of graduate students enrolled in actuarial direction was 17, among which there were no places to walk free of exams and retain their school status. In particular, the postgraduate work of the Central University of Finance and Economics has always been well-known in Beijing for its "openness, fairness and transparency", so candidates do not have to worry about the intervention of "invisible hands" behind them. In 1997, the number of applicants was 58, and by 1999, the number of applicants almost doubled to 115, which shows the degree of competition. In 1999, there were 17 people online, and 17 people were admitted, and the admission ratio was between 7: 1 and 8: 1. It is expected that this ratio will rise in the future.
From the distribution direction, the employers of graduate students in actuarial direction include China Insurance Regulatory Commission, headquarters of major insurance companies, universities and so on. In addition, foreign-funded insurance institutions, joint venture insurance institutions, the Ministry of Social Security, the Ministry of Civil Affairs, the Ministry of Finance, the banking system and other units that have been approved to start business also have great interest in actuarial talents. Take the distribution of 95-grade actuarial postgraduates as an example: 2 people went abroad, 1 person joined the China Insurance Regulatory Commission, 1 person went to Shenzhen Ping An Insurance Company, 2 people went to Xinhua Life Insurance Company, 4 people went to Taikang Life Insurance Company, 3 people went to China Life Insurance Company, and 2 people who went to Xinhua have obtained a rare opportunity to study and work in the UK; Other companies have similar exchange training programs in the pipeline or coming soon.
Due to the scarcity of senior actuaries, the need of talent reserve strategy based on the company's future development, and the good reputation created by Zhongcai graduate students in the insurance industry, actuarial graduate students can be said to be in demand among Zhongcai graduate students. In recent years, although the actuarial compilation of insurance companies is close to the saturation of the current business scale, other departments, such as planning department and management department, are still open to absorb actuarial graduate students. If not limited by some policy factors, an insurance company in Beijing and an insurance company in Shenzhen even came up with the idea of "package acceptance" after interviewing 95 students in our school.
At present, there are 11 actuarial graduate students in Grade 97, including 2 with liberal arts background and 9 with science and engineering background. Their majors can be described as varied, and the graduate institutions are all over the country. Although they have no insurance foundation, this has not prevented them from achieving impressive results in the actuarial examination; Eight of the 11 people passed the actuarial skills certificate at one time, so candidates don't have to care too much about their professional background and other historical factors.
Examination subjects
In order to adapt to the characteristics of the actuarial examination in the UK, the entrance examination subjects for actuarial postgraduates are quite special. Among the examination subjects for public courses, mathematics is the test paper II, the language of foreign language examination is English, and the political theory course is the science test paper, but it is worth noting that mathematics may be adjusted into the test paper I or III in the future. In the examination of specialized courses, one is "Western Economics" and the other is "Probability Theory and Mathematical Statistics".
preparation of teaching materials
The designated teaching materials for Zhongcai's examination of western economics are Western Macroeconomics and Western Microeconomics (edited by Hou Ronghua and Zhao Guoliang, China Planning Press, 1998). This book has always been the basis and blueprint for Zhongcai to formulate an economics examination outline. Of course, for further analysis and research, Western Economics (Part I and Part II) edited by Gao Hongye and Wu Yifeng, Economic Science Press, is still a required model for candidates. In addition, it is best for candidates to read the relevant papers published in Economic Research, so as to help candidates broaden their horizons, enliven their thinking, master the skills of answering questions and master the methods of analyzing phenomena and solving problems by using theory. Finally, candidates can't ignore the choice and judgment of calculation questions, proof questions and objective questions.
There is no specific textbook for the examination of probability theory and mathematical statistics, but candidates need not be greedy for perfection at all, because the topics covered in the examination are basically not divorced from the core contents of probability theory and mathematical statistics. As far as my personal experience is concerned, Probability and Mathematical Statistics published by Higher Education Press and compiled by the Mathematics Teaching and Research Section of Zhejiang University or Probability and Mathematical Statistics published by Renmin University of China Press can be used as reference materials. As long as you thoroughly understand either of these two books, if there is no accident, the examination of probability theory and mathematical statistics will not be an obstacle Of course, if candidates have better choices and unique understanding, they don't have to stick to my recommendation at all. But one thing, don't cast a net all over the sky and use teaching materials indiscriminately. In that case, the result will be not worth the loss, and the main basic knowledge points will not be deeply and solidly understood, which will lead to ignorance. The secondary or eccentric content is only a little knowledge and swallowed. Therefore, candidates must be guided by a suitable book, and their main energy is devoted to it. "Concentrate superior forces to fight annihilation" is the best technology. After the case is well connected, it's not too late to check and fill in the gaps. In fact, there is almost nothing missing.
Review experience
Before applying for actuarial science, candidates must seriously consider the following factors. What is their English proficiency (including listening, speaking, reading and writing)? Is your idea of probability and statistics clear? Is your knowledge of economics comprehensive? In particular, do you have the courage to bear hardships, indomitable perseverance, good health and optimistic personality? It is too common for people who are weak-willed or physically exhausted to be eliminated.
After weighing the pros and cons and determined to apply for actuarial science, candidates should collect the reference books, supporting materials and previous years' examination questions, and arrange their own preparation time, paying special attention to contacting Mr. Li Xiaolin, the actuarial project director of the Department of Insurance of China Finance, and learning about these changes as soon as possible. So as not to be passive and delay the effort.
answering skills
the question types of western economics subjects change every year, and candidates can see this feature from the compilation of exam questions over the years (the compilation of exam questions can be bought from the Graduate Admissions Office of China University of Finance and Economics). In the 1999 western economics exam, there were choices, judgments, calculations and proofs, but there were no short answers and expositions. However, there may be expositions in the next exam, so candidates still need to practice doing expositions. When answering the essay questions, you should not be unconventional or list the materials. The key is to operate the logical structure, use the method of analysis or deduction, and elaborate the views in a well-organized, clear and fluent language.
In the past two years, the questions of probability theory and mathematical statistics have been calculation questions, generally more than ten. There seems to be no skill at all.
interview and admission
since all graduate students majoring in actuarial science are self-raised, after receiving the notice of results and the admission scores announced by the state, candidates can determine whether the admission list has their own names according to the principle of equal admission and ranking the scores from high to low. With the increase in the number of applicants, the possibility of transferring from other volunteers to actuarial science no longer exists.
Interviews are usually held in late April or early May. There are two procedures: written test "probability statistics" and oral test "English listening, speaking, reading and translation". There is only one admission principle: the score standard, without any other tendency.
Further reading: How to buy insurance, which is better, and teach you how to avoid these "pits" of insurance.