Actuarial Science


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Actuarial Science



What is an Actuary?

o        “Actuaries are business professionals who apply their knowledge of mathematics – particularly of probability, statistics, and risk theory – to real-life financial problems involving future uncertainty. These uncertainties are usually associated with life insurance, property and casualty insurance, annuities, pension or other employee benefit plan, or providing evidence in courts of law on the value of lost future earnings.”

o        They evaluate the likelihood future adverse events, design creative ways to reduce the likelihood and decrease the impact of adverse events that actually do occur.


Where Do Actuaries Work?

o        Potential employers are insurance and reinsurance companies (life or property/casualty), consulting firms, investment and commercial banks.

How Do I Become an Actuary?

o        There are three basic requirements - education, experience, and the successful completion of a series of qualifying examinations administered by various professional bodies.

o        Actuaries earn professional designations (such as Associateship or Fellowship) based on the organization they belong to and their status in the professional examination system.

o        Some of the North American professional actuarial organizations are:

o        Society of Actuaries, SOA

o        Casualty Actuarial Society, CAS

o        Canadian Institute of Actuaries, CIA


The above information is quoted from


Useful Actuarial Resources - Recommended by Debbie Davis

o        Actuarial Programs and Resources

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