actuaryˈæk tʃuˌɛr i
actuary (n)
- plural
- actuaries
English Definitions:
statistician, actuary (noun)
someone versed in the collection and interpretation of numerical data (especially someone who uses statistics to calculate insurance premiums)
actuary (Noun)
registrar, clerk.
actuary (Noun)
A professional who calculates financial values associated with uncertain events subject to risk, such as insurance premiums or pension contributions.
Actuary
An actuary is a business professional who deals with the financial impact of risk and uncertainty. Actuaries provide expert assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms. Actuaries mathematically evaluate the probability of events and quantify the contingent outcomes in order to minimize the impacts of financial losses associated with uncertain undesirable events. Since many events, such as death, cannot be avoided, it is helpful to take measures to minimize their financial impact when they occur. These risks can affect both sides of the balance sheet, and require asset management, liability management, and valuation skills. Analytical skills, business knowledge and understanding of human behavior and the vagaries of information systems are required to design and manage programs that control risk. The profession has consistently ranked as one of the most desirable in various studies over the years. In 2006, a study by U.S. News & World Report included actuaries among the 25 Best Professions that it expects will be in great demand in the future. A study published by job search website CareerCast ranked actuary relative to other jobs in the United States as number 1 in 2010, number 2 in 2012 and number 1 in 2013. The study used five key criteria to rank jobs: environment, income, employment outlook, physical demands and stress.
Actuary
An actuary is a business professional with advanced statistical skills who deals with the measurement and management of risk and uncertainty. The name of the corresponding field is actuarial science. These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills. Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms.While the concept of insurance dates to antiquity, the concepts needed to scientifically measure and mitigate risks have their origins in the 17th century studies of probability and annuities. Actuaries of the 21st century require analytical skills, business knowledge, and an understanding of human behavior and information systems to design and manage programs that control risk. The actual steps needed to become an actuary are usually country-specific; however, almost all processes share a rigorous schooling or examination structure and take many years to complete.The profession has consistently been ranked as one of the most desirable. In various studies in the United States, being an actuary was ranked first or second multiple times since 2010 and in the top 20 for most of the past decade.
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"actuary." Kamus.net. STANDS4 LLC, 2024. Web. 28 Mar. 2024. <https://www.kamus.net/english/actuary>.
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