Actuarial science is a discipline that assessesfinancial risksin the insurance and finance fields, using mathematical and statistical methods. Actuarial science applies the mathematics of probability and statistics to define, analyze, and solve the financial implications of uncertain future events. Traditiona...
Understanding how actuarial exams are scored is key to your success—aim for a score of 6 or higher to pass. The grading system adjusts based on the difficulty of each exam, and written-answer sections allow for partial credit if your responses show a strong grasp of the material. Embrace ...
The CAS offers two professional credentials, the Associate of the Casualty Actuarial Society (ACAS) and the Fellow of the Casualty Actuarial Society (FCAS). Either credential can only be undertaken after an initial competency exam is passed that covers basic probability and financial mathematics, know...
Actuary Education and Training Graduates from disciplines such as mathematics, statistics, finance and economics are ideal candidates for actuary careers. There is also an actuarial science major. Undergraduates who wish to enter the field should consider internship opportunities to gain hands-on experienc...
A logarithmic chart is a graphical representation that employs a logarithmic scale, diverging from the conventional linear scale used in most charts, where values are evenly spaced by creating varying intervals between values.
Actuaries can expect a median annual salary of $111,030, according to Bureau of Labor Statistics 2020 wage data. Even though the BLS expects employment opportunities to grow faster than the average of all occupations, the job market is still very competitive, because the career field is small,...
"My experience as a statistics major is a great one. I came into school focusing on sport statistics, and there were a lot of opportunities with that. I went to outside of class lectures about sport statistics offered by the baseball team and I joined the statistics club. Eventually I rea...
Y.K. Tse Nonlife Actuarial Models: Theory, Methods and Evaluation Cambridge University Press, New York, New York (2009) Google Scholar [28] T. VanderWeele Explanation in causal inference: Methods for mediation and interaction Oxford University Press, United Kingdom (2015) Google Scholar [29] J...
Another advantage is that regression models have been used in industries for a long time and are well understood. For example, generalized linear models are heavily used within the actuarial profession, and their use is well established. "The models are well understood by regulatory bodies, making...
We present a comparative study of econometric, actuarial and statistical methodologies that base on different data structures. The results with records of the German unemployment insurance suggest that prediction based on individual﹍evel statistical duration analysis constitutes an interesting alternative to ...