Actuary is a profession. Actuary is an expert who can implement mathematical theory, probability and statistics, economical science and financial method to solve business problems. The problem generally involves an analysis of future events which can give financial impacts to the present. For instance, what is the amount of money our country should pay if we want to have an insurance of our building from an earthquake.

Actuaries in Indonesia

In Indonesia, background of actuaries are generally from Mathematics and Statistics. But it could be anywhere, it could be from architecture, economics, industrial engineering and etc. Most of actuaries in Indonesia are working in Insurance Companies and in Actuarial Consultant Company. To become a qualified actuary, there are 10 examinations that one must pass. Once you pass these exams you will become a qualified actuary and will be given a title, so called Fellow of the Society of Actuaries of Indonesia (FSAI). At the moment there are 180 approximately fellow in Indonesia.

Actuarial examinations

The list of examinations is the following.

A10 Financial Mathematics

A20 Probability and Statistics

A30 Economics

A40 Accounting

A50 Statistical Method

A60 Actuarial Mathematics

A70 Risk Theory

F10 Investment and Asset Management

F20 Actuarial Management

Choose one of these

F31 Life Insurance

F32 Pension Fund

F33 General Insurance

F34 Health Insurance

Once you pass the A examinations, you will be given a title so called Associate of the Society of Actuaries of Indonesia (ASAI).

The examination fee for public is 750000 while that for students is 250000. In a year, there are three periods of examinations which are in March, June and in November. The place for the examination is usually in Manggala Wanabakti Jakarta. More information: www.aktuaris.org.