This precept provides that, where an actuary
has knowledge of an unresolved, material violation of the code of conduct by another actuary
, the first actuary
should discuss the situation with the second and attempt to resolve the apparent violation.
Students will have the option to consult with an actuary
for questions on their project.
When the actuary
system is used, it is necessary to determine the activity field and the advisory field in insurance company.
is the actuary
aware of all intended uses of the report?
In addition, a set of computer-based modules exposes a broad range of techniques that the actuary
can recognize and identify as to their application and inherent limitations.
Shaun Wang, actuary
and research director at reinsurer SCOR Group in Schaumberg, Ill.
Officials in the city's retirement system discovered that an error by the fund's actuary
had caused the city to underpay the retirement fund by $30.
The contributor, Lawrence Eagle (a partner with the actuary
and consulting firm of Bacon & Woodrow), provides an insightful analysis on the historic development of friendly societies, the financial and social functions friendly societies fulfilled, their historical legal and financial changes, and the consulting role actuaries played in their development.
For example, an inquiry into whether the best estimate requirement has been satisfied may involve determining whether assumptions truly came from the plan actuary
or were instead chosen by management for tax planning or cash flow purposes.
The Vinson & Elkins actuary
used conservative estimates to calculate plan contributions.
As a result, it's usually up to the actuary
for the seller's plan to declare the transfer in compliance with the law and the IRC.