Actuarial Science History
Life
P&C and CAT Risk
Skills Needed
Education Needed
100

How many exams does an Actuary have to pass to get their ASA?

7

100

It is life insurance which provides coverage at a fixed rate of payments for a limited period of time or relevant term

What is term life insurance?

100

What are the names of the two leading catastrophe modeling software companies?

Air worldwide & Risk management Solutions

100

What are 2 major skills you need to have a good actuarial path?

Anything to do with math, finance, statistics, or probability.

100
What are 3 courses to take as an actuary
In order to have a very good chance of becoming an actuary, you should take college and high school courses in the following: finance, , three semesters of calculus, one semester of linear algebra, two semesters of calculus-based probability and statistics, actuarial science courses, as available computer science courses, and business courses.
200

What are the first 3 actuarial exams for both the SOA and CAS?

P, FM, MFE

200

A flexible premium policy that combines protection against premature death with a type of saving vehicle that typically earns a money market rate of interest?

What is universal life insurance?

200

Name 5 commercial lines of business

Commercial Auto, Workers compensation, commercial property, Medical Malpractice, general liability 

200

In the second step of the actuarial process, which skill do you need most; Probability, or Math?

Probability because in the second step you graph the probability of a specific event occuring.

200
Is microeconomics, or macroeconomics one of the possible courses to take?
Both of them are.
300

What is Medicare Part D?

Medicare Perscription Drug Benefit 

300

What company is the largest provider of life insurance in the US?

Metlife (Brighthouse)

300

What is the name of the insurance company owned by Warren Buffett?

Berkshire Hathaway 

300
Should you take an actuarial career if you are not interested in math and finance?
No, you should not. A career is something that you want to do.
300
What is the best course to major in for an Actuarial career?
Major in financial mathematics.
400

What company employes 1/3rd of the SOA actuaries on the east coast?

Prudential

400

Name 5 types of annuity products

Fixed, Variable, fixed-indexed, immedate, deffered 

400

Define Facultative vs Treaty underwriting 

xxxxxxx

400
Should you have a interest in finance and math before you go to high school or college?
Yes, if you really like it you would do it outside of school for your own enjoyment.
400
What is the main supplier of actuarial tests?
The SOA, the society of actuaries.
500

What does CPCU stand for?

Chartered Property Casualty Underwriter

500

Who is the president of the SOA?

Mike Lombardi 

500

What is D&O insurance and what does it cover?

Directors & Officers - is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers. Such coverage can extend to defense costs arising out of criminal and regulatory investigations/trials as well; in fact, often civil and criminal actions are brought against directors/officers simultaneously

500
What would the actuarial career be like without using probability, math, or finance?
The actuarial career would not be possible.
500
Do you need to take courses in computer programs?
Yes, because actuaries graph situations on computers.
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