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Old 11-18-2019, 09:11 AM
bhatala bhatala is offline
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Default Interview Advice?

Hello all,

I just scored an interview for an internship in a local actuary company. The interview is two hours long and is taking place later this week. I have not passed any actuary exams and have basic knowledge on statistics/business. What should I expect to happen for this interview and how do I best prepare so I can impress them at my level?
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Old 11-18-2019, 09:26 AM
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Hello all,

I just scored an interview for an internship in a local actuary company. The interview is two hours long and is taking place later this week. I have not passed any actuary exams and have basic knowledge on statistics/business. What should I expect to happen for this interview and how do I best prepare so I can impress them at my level?
I'd first be a bit more careful about your terms, at least in the interview itself. They're actuarial exams that you need to pass to get a job at a company that hires actuaries (Actuary is a noun, actuarial is an adjective, common error).

I'd just express interest in understanding insurance using data. The rest really flows from that.
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Old 11-18-2019, 09:33 AM
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Vorian Atreides Vorian Atreides is offline
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+1 on showing (genuine) interest in understanding the business of insurance; and I wouldn't limit your interest to just "using data".

I would also encourage you to admit when you don't know the answer to questions, but follow it with how you would go about finding the needed information/skill set and how you intend to interact with full-time employees (and other interns if applicable) in working through it.


Remember that you're not going to be expected to *know* things, even if they might ask question that seem to imply such. Most often, they're looking to see how you respond.
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Old 11-18-2019, 02:02 PM
bhatala bhatala is offline
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I'd first be a bit more careful about your terms, at least in the interview itself. They're actuarial exams that you need to pass to get a job at a company that hires actuaries (Actuary is a noun, actuarial is an adjective, common error).

I'd just express interest in understanding insurance using data. The rest really flows from that.
Thank you for the advice, I was unaware of the grammatical errors I was making and I will work on fixing that.
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Old 11-18-2019, 02:08 PM
bhatala bhatala is offline
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+1 on showing (genuine) interest in understanding the business of insurance; and I wouldn't limit your interest to just "using data".

I would also encourage you to admit when you don't know the answer to questions, but follow it with how you would go about finding the needed information/skill set and how you intend to interact with full-time employees (and other interns if applicable) in working through it.


Remember that you're not going to be expected to *know* things, even if they might ask question that seem to imply such. Most often, they're looking to see how you respond.
Do you think they will ask me questions based on the actuarial exams? I was reading a bunch of sites about how some companies ask probability questions in the interview. For example, one site asked a joint probability function on a continuous interval. I know how to integrate single variable continuous functions but I am not familiar with multivariable continuous functions yet. Although I took calc 3, the stats class I was in had calc 1 as a pre req.
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Old 11-18-2019, 02:23 PM
Dr T Non-Fan Dr T Non-Fan is online now
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Do you think they will ask me questions based on the actuarial exams? I was reading a bunch of sites about how some companies ask probability questions in the interview. For example, one site asked a joint probability function on a continuous interval. I know how to integrate single variable continuous functions but I am not familiar with multivariable continuous functions yet. Although I took calc 3, the stats class I was in had calc 1 as a pre req.
As someone else stated here (and I have stated repeatedly), HOW you respond is just as important as your response. Are you going to get flustered easily? Because there's likely another candidate who isn't getting flustered, and who is responding the right way to such questions.
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Old 11-18-2019, 03:00 PM
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To add to what DTNF said . . .

At your stage of the game, I wouldn't focus on "what they're going to ask" and figure out your answers. You're going to served far more (even in the long term) to work out how you'd answer a (technical) question that you're not sure of what the answer might be.
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Old 11-19-2019, 02:33 PM
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Hereís a technique Iíve used in many interviews that works really well for me: First, figure out what they want you to do, then tell them that youíre going to do it. Huge bonus points if you tell them how, though for entry level that could be tough.

Interviewer: So the job typically spends about a third of its time reporting out on data such as claims trends, enrollment and other descriptive analytics. Most of the rest is building out documentation to support our annual rate filings.

You: I understand Iíll be pulling data, organizing the output and delivering established reports used by the department, while also keeping an eye out for any automation or process improvements that could speed up the process or make them more consumable. Then Iíll also be learning the process of filing rates and contributing to the documentation required to do so.

Interviewer, dialing HR: I need you to hire this person and double their pay immediately.

Alright, so maybe this alone isnít sufficient for getting the job. But I think itís one piece of the interview puzzle, and now that I'm management it actually makes a lot of sense to me around why it has the impact it does.
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Old 01-11-2020, 01:01 PM
bhatala bhatala is offline
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Hi all who responded,

I just heard back from the company which I was interviewing for and I got the job! I start in a few days now and looking forward to the challenge. Thank you for the great advice.
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Old 01-11-2020, 02:32 PM
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Hi all who responded,

I just heard back from the company which I was interviewing for and I got the job! I start in a few days now and looking forward to the challenge. Thank you for the great advice.
well done!
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