Search results
Results from the WOW.Com Content Network
An actuary is a professional with advanced mathematical skills who deals with the measurement and management of risk and uncertainty. [1] These risks can affect both sides of the balance sheet and require asset management , liability management, and valuation skills. [ 2 ]
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. Actuaries are professionals trained in this discipline.
The following outline is provided as an overview of and topical guide to actuarial science: Actuarial science – discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries.
For fellows of the Casualty Actuarial Society, this is fulfilled by taking the nation-specific Exam 6-Canada, instead of Exam 6-United States. [29] Further, the CIA requires three years of actuarial practice within the previous decade, and 18 months of Canadian actuarial practice within the last three years, to become a fellow. [30]
It takes approximately three to four years to complete the CERA curriculum which combines basic actuarial science, ERM principles and a course on professionalism. To earn the CERA credential, candidates must take five exams, fulfill an educational experience requirement, complete one online course, and attend one in-person course on ...
The actuarial control cycle is a specific business activity which involves the application of actuarial science to real world business problems. The actuarial control cycle requires a professional within that field (i.e., an actuary ) to specify a problem, develop a solution, monitor the consequences thereof, and repeat the process. [ 1 ]
Actuarial credibility describes an approach used by actuaries to improve statistical estimates. Although the approach can be formulated in either a frequentist or Bayesian statistical setting, the latter is often preferred because of the ease of recognizing more than one source of randomness through both "sampling" and "prior" information.
The CAS requires all candidates to qualify through a series of actuarial exams covering various aspects of actuarial practice. Passing Exams 1–6 as well as Exam S, the Course on Professionalism, the Validation by Educational Experience (VEE), and two online courses qualifies an actuary for the Associateship designation; passing three additional exams is required to become a Fellow. [10]