Actuarial Ninja

Welcome to Actuarial Ninja. Here we cover everything you need to learn about actuarial science, pass the Society of Actuaries licensing exams, and get an actuarial science job. We have tutorials for Excel and actuarial concepts such as loss reserving (Chain Ladder Method, Bornhuetter Ferguson, Loss Ratio Method). We also cover differences between actuarial roles to help you choose the right career for you.

What is actuarial science?

Actuarial science uses mathematics and statistics to evaluate risk and predict probable outcomes. The most common application of this is in insurance and pensions. In both of these fields, there is uncertainty (how much needs to be paid) that is estimated by the actuary. The actuary uses what happened in the past to try to predict the future.

Actuarial Science Quick Stats

Median pay (annual): 93,680 USD (2012)

Median pay (hourly): 45.04 USD (2012)

Entry level education: Bachelor’s degree

Projected 10-year growth: 26% (2012)

Number of jobs: 24,300 (2012)

Similar professions: Accountants and Auditors, Financial Analyst, More

Occupation type: Profession

More Tutorials

For more finance tutorials and general knowledge, we recommend Finance Geek. While the name states it’s for finance, it actually has tutorials and articles on everything!