Actuaries apply mathematics, probability, statistics and risk theory to calculate future risks for insurance, annuity premiums and benefits.

Work: Actuaries apply mathematical models to forecast and calculate the probable future costs of insurance and pension benefits. They design life, health, and property insurance policies, and calculate premiums, contributions and benefits for insurance policies, pension and superannuation plans. They may assist investment fund managers in portfolio asset allocation decisions and risk management. They also use these techniques to provide legal evidence on the value of future earnings.

Title Examples: Actuarial Analyst, Actuarial Assistant, Actuary, Consulting Actuary, Insurance Actuary, Life Actuary, Logistician, Statistician

Useful Secondary School subjects: Math, Physics, Computer-related courses, English

Degrees associated with this career: Diploma, Associate, Bachelor, Master

Requirements: A bachelor's degree in actuarial studies, mathematics, statistics or operational research is usually required to obtain employment as an actuary. Candidates must also successfully complete a set of exams administered by the Canadian Institute of Actuaries. Successful completion of the first five Institute exams gives applicants student status and successful completion of all ten examinations entitles applicants to use the title of "Fellow". It is possible, and indeed the practice is fairly widespread, to work as an actuary while continuing training to acquire the title of "Fellow".

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