Analyzing the variances of dependent variables and the sums of those variances is an essential aspect of statistics and actuarial science. The concept of covariance is an indispensable tool for such analysis. Let us assume that there are two random variables, X and Y. We can call the mathematical expectations of each of these variables […]
Tag Archives: Actuarial Science
Exam P on Probability, offered by the Casualty Actuarial Society and the Society of Actuaries, is the gateway to the actuarial profession. Those who pass the exam can obtain entry-level jobs as actuaries, with salaries ranging from about $44,000 to about $58,000 per year. After some rigorous studying, I recently passed this examination with a […]
If you desire to become an actuary, then passing Exam P on Probability is your opportunity to enter the actuarial science profession and get a starting salary ranging of about $44,000 to $58,000 per year. But the colossal number of topics listed on the syllabus may seem intimidating to many. Fortunately, you do not need […]
What are actuarial and actuarial science? Are they the same? According to Wikipedia, Actuarial science is a discipline that applies mathematical and statistical methods to evaluate risk in the insurance and financial industries. . An actuary is a professional business that deals with the economic impact of risk and uncertainty. Actuaries have a deep understanding […]
When you have a loss from a trade or business, from a property tax, or from another income activity, the loss will serve to reduce your income and therefore reduce your income. However, there are special rules that limit the amount of damages that can be claimed. These rules are generally intended to deter taxpayers […]