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Unit of Analysis:
ACTUARIAL SCIENCE
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ACTUARIAL SCIENCE
The program in this cluster trains for the related occupation, but does not function as an exclusive port of entry. People also prepare for this occupation through other training programs and related work experience.
152011 Actuaries
Actuaries need a strong background in mathematics and general business. Usually, actuaries earn an undergraduate degree in mathematics, statistics or actuarial science, or a business-related field such as finance, economics or business. While in college, students should complete coursework in economics, applied statistics and corporate finance, which is a requirement for professional certification. Furthermore, many students obtain internships to gain experience in the profession prior to graduation.
Additional national information available: Employment of actuaries is expected to increase by about 24 percent over the 2006-16 period, which is much faster than the average for all other occupations. Employment growth in the insurance industry—the largest employer of actuaries—is expected to continue at a stable pace, while more significant job growth is likely in other industries, such as health care and consulting firms.
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 | Program(s) of Study and Training |
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52.1304
Actuarial Science
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Actuarial Science. A program that focuses on the mathematical and statistical analysis of risk, and their applications to insurance and other business management problems. Includes instruction in forecasting theory, quantitative and non-quantitative risk measurement methodologies, development of risk tables, secondary data analysis, and computer-assisted research methods. (Moved from 52.0802)
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 | Occupation(s) |
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15-2011
Actuaries
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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.
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