Actuary

since they were the primary users of the punch-card machines during the late 1940s and 1950s. Figure 1 below shows an image of a punched card. Figure 1: IBM punched card (Ceruzzi, 2003) During the second world ‘war, many mathematically trained actuaries and other insurance employees were recruited to work on military projects involving statistics, code-breaking, bombsights and operations research while a few worked on the new computer technology being developed during the war’ (Yates 1999,p.5).

What is an actuary? In the simplest of terms, actuaries interpret numbers for various corporations or firms. They play a major role in calculating risk for major companies, insurance agencies in particular. Their job is to make sure large corporations don’t gamble with their money and make the smartest, most efficient use of it. A knowledge of mathematics, economics, finances, and even psychology are applied to their work in order to fully understand what they are calculating in order to generate

Karen Lyn Manuharan English 187, Section 070 Compare and Contrast Essay: Final Copy April 1, 2013 Actuaries and Physical Therapists Does anyone have a hard time choosing what career or job which they really want to do in the future? I personally have two jobs that I am considering right now: actuary and physical therapist. Actuaries basically manage risk. They help organizations plan for the future and protect themselves from loss. Physical therapists use a variety of techniques to improve

You are an actuary. The career of an actuary should be pursued by you and by more people. Being an actuary is great because they make a lot of money, don’t require much college or job searching, and have several good benefits. The clicking of the keyboard and the rustling of the rustling of the papers are the only sound that dare to break the silence in the office of an actuary. To begin with, the annual salary that an actuary receives is borderline phenomenal. The salary an actuary begins with

ACTUARIES AND THE AUDITING PROCESS Risk is an inevitable element of any type of business with the insurance sector being no exception. Insurance companies accept various forms of risk – each which can affect the ability of a company to meet its future liabilities. These risks need to be identified, analysed, and managed/mitigated as far as possible. These procedures and controls will form part of a company’s risk management framework (Chen, 2010). The aim of an audit is to determine, by investigation

but you should never strive for mediocrity” (“Be and Actuary” 4). To become an actuary hundreds of hours of studying for exams is required. Actuaries attend college for four to five years and take multiple exams in order to become an actuary. They typically will work in office settings and will calculate the risk of an event to occur. Actuaries hold the insurance industry together. Actuaries solve complex math problems to figure out

science. As Sholom Feldblum states “The actuary has a dual role: an objective professional providing guidance on insurance issues and a business manager promoting the goals of an insurance company” (Sholom Feldblum, pg.1). The purpose of our research was to determine the most common ethical problems an actuary faces, and the most appropriate methods to solve these problems. Solutions were necessary so that our stakeholders, current and prospective actuaries, will have more guidance when faced with

Faculty of Actuaries Institute of Actuaries EXAMINATION 11 April 2005 (pm) Subject ST4 Pensions and other Benefits Specialist Technical Time allowed: Three hours INSTRUCTIONS TO THE CANDIDATE 1. Enter all the candidate and examination details as requested on the front of your answer booklet. You have 15 minutes at the start of the examination in which to read the questions. You are strongly encouraged to use this time for reading only, but notes may be made. You then have three hours to

Statement of Purpose Applying for M.S. in Statistics Program Studying at University of Virginia was my first time living by myself in a foreign country. Turning to math seemed an easy choice for me because I had been passionate about math since elementary school. I started to learn Olympic Mathematics in second grade and enjoyed the challenging topics. I was soon able to learn by myself with the help of training in logical thinking. When I was forced to stay at home for a whole school year due to

everyone has to answer in their lifetime. What job will they chose to go to for the next 50 years of their life. If someone mess up on choosing a career, then they will have wasted several years of their life. Two things that sound interest are an actuary and an economist. Both of these jobs have things in common such as: pay, skills they need and job description. They also have some things that are different such as schooling, how they can earn more money and their actual ratings. These jobs both