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    Does anyone know what an actuary is and does?
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    idk fam you're the institute innit
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    (Original post by JohanGRK)
    idk fam you're the institute innit
    Yes we are and wondered how well everyone knew what we do
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    (Original post by InstituteAndFacultyofActuaries)
    Does anyone know what an actuary is and does?
    Pretty much the maths whizzes figuring out the financial mechanics of administering pensions, insurance plans, and other financial products.

    Commonly found in either a consulting capacity or in industry (i.e. insurance companies, funds etc)

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    (Original post by Princepieman)
    Pretty much the maths whizzes figuring out the financial mechanics of administering pensions, insurance plans, and other financial products.

    Commonly found in either a consulting capacity or in industry (i.e. insurance companies, funds etc)

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    Yes, you're right. An actuary is a person who compiles and analyses statistics and uses them to calculate insurance risks and premiums. So for example, if a company wanted to invest in the construction of airports, an actuary would prepare a report in advance before the company takes up the project to inform the company about the possibility of various risk involved. For example, the project may be delayed due to workers going on strike, delay in clearance of land or other factors, environmental clearance, natural disasters, increase in cost, increase in wages etc. Any such problem involves cost for the company actuaries will report on. Actuaries are expert in estimating the cost involved if any of these risk occurs. This helps the company take more informed decisions and achieve some level of certainty by taking necessary action.
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    Actuary is something you don't want to be. Why is this under investment banking and consultancy?
 
 
 
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