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Actuarial Science History
Probability Of Risk
The Actuarial Process
Skills Needed
Education Needed
100
What were the 5 eras in order?
Simple Trade Era, Production Era, Sales Era, Marketing Department Era, Marketing Company Era
100
Did More people die in 2013 from suicidal acts, or murder?
There have been more suicides thean murder in 2013, 38,364 to be exact. Murder isnt ranked on the top death causes.
100
What were the steps an actuary would take in this process in order?
First gather data and graph it, next they would graph the probability of a specific event occurring, and lastly they give the news to a client or company.
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 was the most economically succesful Era?
The Marketing Company Era
200
Is pneumonia ranked in the top 10 causes of Death?
Yes, Pneumonia is ranked #9.
200
How many steps of this process need adding data to a graph?
2, the first, and the second.
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 was the start of the Production Era called?
The Industrial Revolution
300
Are there more unintentional deaths, or more suicides in the U.S?
There are over 120,000 unintentional deaths, so that means there are more unintentional deaths than suicides.
300
What type of business would an Actuary benefit most?
An Actuary can benefit all companies, but are usually most beneficial to insurance companies.
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 is the goal for companies in the Era we are in now?
Since we are in the Marketing Company Era, the main goal for companies is profit.
400
About how many people dies of diabetes in 2013? 10,000 30,000 70,000 90,000
69, 071 people died of diabetes in 2013
400
What other job also involves a process VERY similar to the actuarial process?
A statistician, because an actuary is basically a financial statistician who analyzes risk of a possible outcome.
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 would actuaries have been used for in the Simple Trade Era?
They would be used to get the most items for your item, and tell if your trade was worth it.
500
Have more people died from Heart Disease, or Cancer?
Heart Disease is the leading killer in the U.S according to the C.D.C in 2013. •Heart disease: 597,689 •Cancer: 574,743 second rank
500
In the Simple Trade Era, would graphs be used in the process?
The actuarial process did not include the first 2 steps in the simple trade Era. They just estimated logically, but used no major and accurate calculations on graphs.
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.