Actuarial Science


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Actuarial Science

The statistical study of risk as it relates to insurance. A practitioner of actuarial science computes various risk factors and determines the likelihood of whether (or when) an event will occur. For example, one may look at a person's medical information, such as height, weight, and pre-existing conditions, and mathematically determine how likely it is that the person will cost the insurance company more than he/she will pay in premiums. This helps the insurance company decide whether the person will receive coverage and, if so, what the monthly premium will be. Many universities offer degrees in actuarial science, though many insurance companies hire individuals with math degrees and teach them actuarial science directly.
References in periodicals archive ?
Most books written in the actuarial science area focus exclusively on theory while lacking practical applications, especially related to a particular use of computational methods and software.
This is an excellent and seemingly exhaustive reference work for any libraries that have a need for information in insurance, risk management, and actuarial science.
The ALA Guide to Information Sources in Insurance, Risk Management, and Actuarial Science" includes an introduction defining risk management and describing its use in the insurance industry and the field of actuarial science.
A critically important acquisition for academic library Financial Studies and Mathematics reference collections, "Financial Mathematics: A Comprehensive Treatment" is an especially recommended textbook for undergraduate and graduate students in the fields of mathematics, finance, actuarial science, and economics.
This textbook is for a one-semester course for undergraduate and graduate students, and has also been used for a course at the masters level in actuarial science.
Doodnath is believed to own the highest number of distinction in South African province, Kwa-Zulu Natal and hopes to pursue actuarial science at the University of Cape Town.
He is an associate of the Chartered Insurance Institute, UK and holds a diploma in life and disability claims, UK, Life and Health Diplomate, LOMA, USA and a diploma in actuarial science.
Established in 2010, the IASA Scholarship Program is a demonstration of the association's commitment to aiding students at the sophomore level or above who are enrolled in a university with an insurance program and whose course of study includes working toward a degree in Information Technology (IT), Actuarial Science, Accounting or Risk Management.
NEW YORK -- Columbia University will offer online versions of its Master of Arts in Statistics and Master of Science in Actuarial Science programs beginning in fall 2013.
Beador has a bachelor of science in accounting and actuarial science from Central Washington University and an MBA from Washington State University.
In addition to tutoring mathematics, she is a member of the Delta Sigma Pi Professional Business Fraternity and treasurer of the Alpha Lambda Chapter of Gamma Iota Sigma, the Risk Management,Insurance and Actuarial Science Fraternity.