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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.
Computers further revolutionized the actuarial profession. From pencil-and-paper to punchcards to microcomputers, the modeling and forecasting ability of the actuary has grown vastly. [40] Another modern development is the convergence of modern finance theory with actuarial science. [41]
Actuarial science – discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. What type of thing is ...
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. Astrostatistics is the discipline that applies statistical analysis to the understanding of astronomical data.
Most trainee actuaries study while working for an actuarial employer using resources provided by ActEd (The Actuarial Education Company, a subsidiary of BPP Actuarial Education Ltd.), which is contracted to provide actuarial tuition for students on behalf of Institute and Faculty Education Ltd (IFE), a subsidiary of the Institute and Faculty of ...
The actuarial present value (APV) is the expected value of the present value of a contingent cash flow stream (i.e. a series of payments which may or may not be made). Actuarial present values are typically calculated for the benefit-payment or series of payments associated with life insurance and life annuities .
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The Society of Actuaries (SOA) is a global professional organization for actuaries.It was founded in 1949 as the merger of two major actuarial organizations in the United States: the Actuarial Society of America and the American Institute of Actuaries. [1]