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  2. Force of mortality - Wikipedia

    en.wikipedia.org/wiki/Force_of_mortality

    In actuarial science, force of mortality represents the instantaneous rate of mortality at a certain age measured on an annualized basis. It is identical in concept to failure rate , also called hazard function , in reliability theory .

  3. Actuarial reserves - Wikipedia

    en.wikipedia.org/wiki/Actuarial_reserves

    Year 3: $150,000 × (1.08) −3 = $119,074.84. If we sum the discounted expected claims over all years in which a claim could be experienced, we have completed the computation of Actuarial Reserves. In the above example, if there were no expected future claims after year 3, our computation would give Actuarial Reserves of $568,320.38.

  4. Actuarial science - Wikipedia

    en.wikipedia.org/wiki/Actuarial_science

    2003 US mortality table, table 1, page 1. 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. In many countries, actuaries must demonstrate their competence by ...

  5. Actuary - Wikipedia

    en.wikipedia.org/wiki/Actuary

    While Halley actually predated much of what is now considered the start of the actuarial profession, he was the first to rigorously calculate premiums for a life insurance policy mathematically and statistically [38] James C. Hickman (1927–2006) American actuarial educator, researcher, and author [71] Oswald Jacoby (1902–1984)

  6. Casualty Actuarial Society - Wikipedia

    en.wikipedia.org/wiki/Casualty_Actuarial_Society

    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]

  7. Actuarial credentialing and exams - Wikipedia

    en.wikipedia.org/wiki/Actuarial_credentialing...

    The actuarial credentialing and exam process usually requires passing a rigorous series of professional examinations, most often taking several years in total, before one can become recognized as a credentialed actuary. In some countries, such as Denmark, most study takes place in a university setting.

  8. Life table - Wikipedia

    en.wikipedia.org/wiki/Life_table

    In actuarial science and demography, a life table (also called a mortality table or actuarial table) is a table which shows, for each age, the probability that a person of that age will die before their next birthday ("probability of death"). In other words, it represents the survivorship of people from a certain population. [1]

  9. American Academy of Actuaries - Wikipedia

    en.wikipedia.org/wiki/American_Academy_of_Actuaries

    The Academy is often asked by the National Association of Insurance Commissioners (NAIC) to provide input on actuarial issues, and has provided the NAIC with a number of reports and statements. [8] On occasion, the Academy has submitted amicus briefs on court cases that are of interest to the actuarial profession. [ 9 ]