What is actuarial science?
Actuarial science is the mathematical science of designing insurance and pension plans to make sure they are maintained on a sound financial basis. Actuaries use statistical data to determine probabilities of insurance claims and retirement. They may set up pension and welfare plans, calculate future benefits, and determine the amount of employer contributions.
What is a problem an actuary might work on?
Actuaries use probabilities to determine the price charged for insurance that will enable the insurance company to pay all claims and expenses and also make a profit.
Who hires actuaries?
The Federal government, State governments, and insurance companies. Some actuaries work as consultants contracting out their services to insurance companies, corporations, unions, government agencies, and attorneys.
Where can you study actuarial science in California?
UC Santa Barbara's actuarial studies program
Meet an actuary
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