Definition of "Actuary"

Kimberly Graziadei real estate agent
Kimberly Graziadei Berkshire Hathaway HomeServices New Jersey Properties

Mathematician in the insurance field. Actuaries conduct various statistical studies; construct morbidity and mortality tables; calculate premiums, reserves, and dividends for participating policies; develop products; construct annual reports in compliance with numerous regulatory requirements; and in many companies oversee the general financial function. The successful actuary has a strong general business background as well as mathematical ability. Professional actuarial associations provide actuarial qualification examinations.

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