Coaching Actuaries
The Greek letter featured in the Coaching Actuaries logo
What is alpha?
This is the passing score required on most actuarial exams
What is 6?
The average of the possible values, weighted by their probabilities
What is an expected value?
This is the fee paid to borrow money, expressed as a percentage of the principal
What is interest?
This acronym names the actuarial organization whose members specialize in life and health insurance
What is the SOA?
The founder of Coaching Actuaries
Who is Dave Kester (Coach K)?
This is the number of multiple-choice questions on the preliminary exams
What is 30?
If two independent events A and B have probabilities Pr(A) = 0.6 and Pr(B) = 0.5, Pr(A ∩ B) is equal to this
What is 0.3?
This term describes the current value of a future sum of money, discounted at a given interest rate
What is present value?
This is what actuaries fundamentally assess, using a combination of mathematics, statistics, and business knowledge
What is risk?
The year Coaching Actuaries was founded
What is 2010?
This is what the acronym FAM stands for in the SOA exam series
What is Fundamental Actuarial Mathematics?
This distribution is commonly used to model the number of independent events occurring at a constant rate within a given time period
What is the Poisson distribution?
The term for an annuity where the payments increase by a constant amount each period
What is an arithmetic increasing annuity?
This actuarial designation, abbreviated ASA or ACAS, comes before Fellowship
What is Associate?
The current president of Coaching Actuaries
Who is Coach Tong?
This is what the acronym MAS stands for in the CAS exam series
What is Modern Actuarial Statistics?
This theorem states that as sample size increases, the distribution of sample means approaches a normal distribution, regardless of the population's underlying distribution
What is the Central Limit Theorem?
This loan repayment method involves making payments at fixed, regular intervals until the debt is fully paid off
What is loan amortization?
Often called "insurance for insurance companies", it's where a primary insurer transfers portions of its risk portfolio to another party
What is reinsurance?
This state is home to the Coaching Actuaries office
What is Iowa?
The VEE that the SOA requires, but the CAS does not
What is Mathematical Statistics?
Under this arrangement, the insured pays a fixed percentage of every loss, with the insurer covering the remaining percentage
What is coinsurance?
When a bond's coupon rate is less than the yield rate, the bond sells at this
What is a discount?
The process actuaries use to estimate future insurance claims costs based on historical data
What is reserving?