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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.
Actuarial science – discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. What type of thing is ...
Currently, CBTI programs fall into one of two categories: actuarial assessment programs or automated assessment programs. Actuarial assessment programs are based on statistical or actuarial prediction (e.g., statistical analyses, linear regression equations and Bayesian rules), which is empirically based while automated assessment programs consist of a series of if-then statements derived by ...
The Society of Actuaries' requirements for Associateship (ASA) include passing 6 preliminary examinations (probability, financial mathematics, fundamentals of actuarial mathematics, statistics for risk modeling, predictive analytics, and one from either advanced long-term actuarial mathematics or advanced short-term actuarial mathematics ...
Liabilities are the actuarial present value of future plan cash flows, discounted at current interest rates. Thus, asset/liability management strategies often include bonds and swaps or other derivatives to accomplish some degree of interest rate hedging (immunization, cash flow matching, duration matching, etc.).
Asset and liability management (often abbreviated ALM) is the term covering tools and techniques used by a bank or other corporate to minimise exposure to market risk and liquidity risk through holding the optimum combination of assets and liabilities. [1]
This paper laid out the evolution, rationale, definitions, and frameworks for ERM from the casualty actuarial perspective, and also included a vocabulary, conceptual and technical foundations, actual practice and applications, and case studies. [18]