It makes sense for actuarial examinations to have very high standards. And actuaries are paid very well, while having prestigious, comfortable jobs, with low stress levels, and no unemployment. There has to be a catch, and the catch is: it is hard, very hard, to become a fully qualified professional actuary.

Actuarial exams are known to be very hard, especially the fellowship level exams. It's very common to spend hundreds of hours studying for each exam over several months. Most people don't get through all the exams without failing at least 1 or 2 along the way.

We all know that actuarial exams are hard. The pass rates vary from 50% on the preliminary/lower level actuarial exams, to 30% on the higher level CAS exams. I've written a short guide providing advice on how to pass actuarial exams, and also my own experiences with studying for actuarial exams.

Is it hard to become an actuary? Becoming an actuary requires only a bachelor's degree, allowing for a straightforward entry to the profession. However, earning certifications and advancing in the actuarial field may take seven or more years and require significant preparation.