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Actuary

An Actuary is a someone that predicts costs, determine future risk, make price decisions, and prepare investment strategies. Most work in the insurance industry and use statistics and trends to predict injury, illness, and property loss. They also determine the premiums for automobile insurance. Actuaries may work in investments where they try to predict the amount, place, and length of investment that will yield the most return. As an Actuary you need specialized skills in Math including Calculus, Statistics, and Probability. Good business skills like accounting, economics, and finance are important. Actuaries also need advanced computer skills like knowledge of spreadsheets, statistical analysis programs, database manipulation, and programming languages. An Actuary can be employed by a company or do consulting and most made between $40,000 and $130,000 a year (in 2000). To be an Actuary you need a strong foundation in math and business and Bachelors in Mathematics, Actuarial Science, Statistics, or Business. You must also pass several exams. The Society of Actuaries (SOA) administers examinations for students wanting to work in life and health insurance, pension, and finance and investment. The Casualty Actuarial Society (CAS) administers the series of exams for fire, accident, medical malpractice, workers compensation, and personal injury liability. Many corporations will pay for courses and materials so an Actuary can advance in their professional level.



Image courtesy of FDIC


Image used with permission of The Local Channel


Local Companies

Additional Links

Bibliography

Be An Actuary
http://www.beanactuary.org/hs/skills.cfm

Society of Actuaries
http://www.soa.org/

Casualty Actuarial Society
http://www.casact.org/

US Department of Labor, Bureau of Labor Statistics - Occupational Outlook Handbook
http://www.bls.gov/oco/ocos041.htm




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