Actuarial soundness means the Program is projected to have the funds needed to pay future obligations as determined by an actuary. The actuarial formula incorporates several factors, including estimated future tuition, projected inflation and investment returns, and administrative costs.
What do you mean by actuarial?
Definition of actuarial 1 : of or relating to actuaries. 2 : relating to statistical calculation especially of life expectancy.
Who is called actuary?
Definition: A person with expertise in the fields of economics, statistics and mathematics, who helps in risk assessment and estimation of premiums etc for an insurance business, is called an actuary.
What does an actuarial do?
Actuaries analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to assess the risk of potential events, and they help businesses and clients develop policies that minimize the cost of that risk. Actuaries’ work is essential to the insurance industry.
What is another name for actuary?
In this page you can discover 7 synonyms, antonyms, idiomatic expressions, and related words for actuary, like: statistician, accountant, trustee, interinsurance, actuarial, auditor and underwriter.
What is an actuarial specialist?
Monitor all actuarial projects and work as a subject matter expert on same. Prepare health and retirement programs for various participants and retirees. Evaluate all assets and liabilities for pension and perform regular analysis.
How do you use actuarial in a sentence?
1 The company’s actuarial report is available on demand. 2 As in all the other fields of actuarial work, the profession has provided seminars and conferences for debate on new developments. 3 The actuarial assumptions to be used in valuing the scheme will be chosen by the Purchaser’s actuaries.
