Question 1

What is QAT?

Accepted Answer

Quantitative Aptitude Test (QAT) is an onlineentrance test for the Bachelor's program inActuarial Science and Quantitative finance. Itis to ensure that the students of allbackgrounds, boards, and streams are at parwith no biases in the admission process. Thetest will be conducted online every Saturdaystarting from April 4,2020. The score will beavailable in the student login immediatelyafter appearing for QAT. After appearing forQAT (irrespective of the result), the student iseligible for the interview round.Note:QAT is exempted for students who have cleared the Actuarial Common Entrance Test (ACET) or any actuarial paper from the Institute and Faculty of Actuaries  IFoA, UK, or Institute of Actuaries of India  IAI, India.

Question 2

Is there any flexible payment option by the university?

Accepted Answer

You can contact your bank or financial institution who may offer such loans or you can contact the Admin for further information or advice.

Question 3

What are the career prospects for doing a bachelor's in actuarial science?

Accepted Answer

It provides a pathway for students interested in career opportunities like Actuarial Science, Investment Banking, Data Science, Risk Modelling, Equity Research, Asset Liability Management and Financial Analysis. Hands-on experience with new-age business analysis tools such as Python, R, Bloomberg Terminal, etc. and courses mapped with professional courses, students can pursue various professional courses alongside this bachelors degree. Career work prospects for actuaries are Life Insurance, Non-Life Insurance, Pensions, Enterprise Risk Management, Investment, Data Science, Health Insurance, etc.

Question 4

Who are Actuaries?

Accepted Answer

Actuaries have a deep understanding of the nature of risk and excel at putting a value on risk, regardless of the industry. While risk exists in all industries, no other industry handles the financial impact of risk more than the Insurance and Banking industry. Actuaries are experts in:Evaluating the likelihood of future events - using numbers.Designing creative ways to reduce the likelihood of undesirable events.Decreasing the impact of undesirable events that do occur.

Question 5

What is the weightage criteria of QAT?

Accepted Answer

The weightage criteria of QAT is as follows:Math + Stats: 70% weightageEnglish: 30% weightageThe test is mandatory unless you have cleared ACET or any Actuarial paper100 marks test of 2 hours consisting of 70 multiple-choice questions (MCQs).Incorrect answers will result in a 25% negative marking.

Institute of Actuarial and Quantitative Studies Mumbai Courses & Fees 2025

Institute of Actuarial and Quantitative Studies Mumbai Fees & Eligibility

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