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Actuary :
Analyze statistical data, such as mortality,
accident, sickness, disability, and
retirement rates and construct probability
tables to forecast risk and liability
for payment of future benefits. May
ascertain premium rates required and
cash reserves necessary to ensure payment
of future benefits.
Occupation
Specific Tasks:
The tasks listed below are typical task
statements that are commonly required
for the occupation you selected.
Task
Description
Analyze
statistical information to estimate
mortality, accident, sickness, disability,
and retirement rates.
Ascertain
premium rates required and cash reserves
and liabilities necessary to ensure
payment of future benefits.
Collaborate
with programmers, underwriters, accounts,
claims experts, and senior management
to help companies develop plans for
new lines of business or improving existing
business.
Construct
probability tables for events such as
fires, natural disasters, and unemployment,
based on analysis of statistical data
and other pertinent information.
Design,
review and help administer insurance,
annuity and pension plans, determining
financial soundness and calculating
premiums.
Determine
equitable basis for distributing surplus
earnings under participating insurance
and annuity contracts in mutual companies.
Determine
or help determine company policy, and
explain complex technical matters to
company executives, government officials,
shareholders, policyholders, and/or
the public.
Determine
policy contract provisions for each
type of insurance.
Explain
changes in contract provisions to customers.
Manage
credit and help price corporate security
offerings.
IProvide
advice to clients on a contract basis,
working as a consultant.
Provide
expertise to help financial institutions
manage risks and maximize returns associated
with investment products or credit offerings.
Testify
before public agencies on proposed legislation
affecting businesses.
Testify
in court as expert witness or to provide
legal evidence on matters such as the
value of potential lifetime earnings
of a person who is disabled or killed
in an accident.
Detailed Work Activities.
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advise
clients on financial matters
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advise
clients or customers |
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analyze
scientific research data or
investigative findings |
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analyze
social or economic data |
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collect
statistical data |
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communicate
technical information |
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compile
numerical or statistical data
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create
mathematical or statistical
diagrams or charts |
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develop
mathematical ideas or interpretations
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develop
mathematical simulation models
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develop
or maintain databases |
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develop
tables depicting data |
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evaluate
degree of financial risk |
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explain
complex mathematical information
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follow
contract, property, or insurance
laws |
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interpret
charts or tables for social
or economic research |
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maintain
awareness of social trends |
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make
presentations |
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make
presentations on financial matters |
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perform
statistical modeling |
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prepare
reports |
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prepare
technical reports or related
documentation |
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provide
expert testimony on research
results |
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recognize
interrelationships among social
statistics or indicators |
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use
computers to enter, access or
retrieve data |
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use
current social research |
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use
knowledge of investigation techniques
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use
mathematical or statistical
methods to identify or analyze
problems |
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use
public speaking techniques |
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use
quantitative research methods |
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use
relational database software |
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use
spreadsheet software |
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use
word processing or desktop publishing
software |
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