Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.
Significant Points
- A strong background in mathematics is essential; actuaries must pass a series of examinations to gain full professional status.
- About 6 out of 10 actuaries are employed in the insurance industry.
- Employment opportunities should remain good for those who qualify, because the stringent qualifying examination system restricts the number of candidates.
National Outlook
| 2004 Total Employment | 17,000 |
| 2014 Expected Employment | 21,000 |
| Change (Percent) | 4,000 ( 23.2) |
| Total Openings | 11,000 |