Actuary

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DEFINITION of 'Actuary'

A professional statistician working for an insurance company. They evaluate your application and medical records to project how long you will live.

BREAKING DOWN 'Actuary'

Actuaries are intensively educated and their knowledge is used in many different fields in order to predict future events based upon past occurences.

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RELATED FAQS
  1. How are open market operations and monetary policy related?

    An aggregate limit is the maximum amount an insurance company agrees to pay to cover claims during a defined period, generally ... Read Full Answer >>
  2. What impact have terrorist attacks had on the insurance industry?

    Terrorism has led to massive losses for the insurance industry. The attacks on Sept. 11, 2001 totaled $31.6 billion in costs ... Read Full Answer >>
  3. What are examples of risks for all underwriter types?

    There are two main types of underwriting: insurance and investment. Insurance underwriters guarantee to service the obligations ... Read Full Answer >>
  4. What assumptions are made when conducting a t-test?

    The common assumptions made when doing a t-test include those regarding the scale of measurement, random sampling, normality ... Read Full Answer >>
  5. What happens if my insurance claim falls below the deductible level?

    Though the ins and outs of health insurance are often confusing, the concept of the insurance deductible is relatively straightforward. ... Read Full Answer >>
  6. What are some of the more common types of regressions investors can use?

    The most common types of regression an investor can use are linear regressions and multiple linear regressions. Regressions ... Read Full Answer >>

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