Actuarial Science free essay sample

I will be going over what an actuary does on the job, how that translate to our life, and how it became the study it is today. An actuary, or statistician is a person who computes insurance and pension rates and premiums on the basis of the experience of people sharing similar age and health characteristics. Actuaries must have analytical, statistical, and probability skills. Actuaries help business make sound financial decisions to protect it from loss. Actuaries are statisticians who provide expert data analysis of risk assessment and risk management for the financial services sector. Actuaries specialize within the insurance industry. They also prepare and evaluate data for banks, retirement and pension fund administrators, or they can be self-employed as consultants. Such as advising and determining the best choices for investments and other financial decisions. Actuaries are able to calculate these tables by using past information and projections of mortality rates indicate that the life expectancy of an individual. We will write a custom essay sample on Actuarial Science or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Mortality tables are usually used as the bases for calculating estimated insurance premiums or monthly retirement annuities. When used by expert witnesses, actuarial tables are acceptable evidence to show life expectancy. Juries may award damages(money) to plaintiffs (person who is suing the defendant) for compromised life expectancy resulting from the alleged crime of the defendant. An actuarial valuation is a type of appraisal (official valuation) which requires making economic and demographic (structure of population) assumptions in order to estimate future liabilities (being responsible for). The assumptions are usually based on a mix of statistical tables and experienced judgment. Because assumptions are often derived (obtained) from long-term data. Unusual short-term circumstances or unanticipated trends can occasionally cause problems. A common example where an actuary directly affects someone’s personal life is in the valuation of a pension fund. It is usually easy to value the assets of a pension fund because it primarily holds liquid (accessible) securities such as stocks or bonds because it is just a mathematical valuation. However, it can be very difficult to value the liabilities of a pension fund, because assumptions must be made to etermine the total value of pension payouts that must be made in the future. Assumptions must also be made as to the expected growth of the funds assets (properties) which will allow it to meet those obligations. If either set of assumptions proves to be significantly wrong then there might be too little (or too much) funds in the future to pay pension benefits. Actuarial science uses probability and statistics to a nalyze and solve financial implications. Conventional actuarial science is based on the analysis of mortality, the production of life tables, and the application of compound interest. Life insurance and pension plans are the two major applications of actuarial science. Although, actuarial science is also applied in the study of financial organizations to analyze their liabilities and ameliorate (improve) financial decision-making. Actuaries employ this specialty science to evaluate the financial, economic and other business applications of future events. The American Academy Of Actuaries or AAA is an elite group that provides analysis to aid the public is policy creation, advances the status of the actuarial profession, and sets standards of integrity and competence for actuaries. The American Academy of Actuaries (AAA) has five public policy councils in the areas of casualty, health, life, risk management and financial reporting , and pensions. These councils lobby (influence) Congress on actuarial issues with national implications, such as Social Security and Medicare. Members of the AAA must have approved actuarial education qualifications, must have relevant work experience, and must maintain the group’s code of professional conduct. Actuaries commonly work in financial services, where they use math, statistics, and financial analysis to evaluate issues. Many colleges and universities offer degrees in actuarial science, which consists of a solid foundation course in mathematics, statistics and economics and on all types of investments. â€Å"Actuaries are well compensated. Experienced fellows have the potential to earn from $150,000 to $250,000 annually, and many actuaries earn more than that. †? Majoring in college in actuarial science is not exactly necessary but majoring in some type of math, financial, or both is common and practical. To earn an actuarial credential, you must complete a series of actuarial examinations, e-Learning components and other requirements through an actuarial membership organization such as the Casualty Actuarial Society (CAS) or the Society of Actuaries (SOA). †? Actuaries usually have desk jobs and work in an office environment. They work at least 40 hours a week. Consulting actuaries, have to travel to meet with clients, and actuaries who work in the investment banking field may experienc e a more unpredictable schedule and be expected to work more (or less) than 40 hours per week.

La Estrategia de Chochueca Summary Essays

La Estrategia de Chochueca Summary Essays La Estrategia de Chochueca Summary Essay La Estrategia de Chochueca Summary Essay and has in the eyes, those rare situations of those people who were tortured in the twelve years and now work together torturers. (Page 69) There is no ideological defect in the narrative. I realized that everything is the same, in the end, everything is a lie, we all want a Japanese cart and a pool (p. 70). It is a disappointment and a visceral boredom, lived from the inside and sharpened by an inhospitable environment that denies that segment of youth, of which the narrator is the part, some possibility of redemption. That is why small or large crimes that try to give color to a gray and tedious existence, the tumble of horns, drugs, forgery of checks, fraudulent use of credit cards. Those parents who have left their children, this illogical gelatin. After so much we want the world and we want it. So much historical laughter, both Marx and companion for this, this prank of small beasts without the idea, this Mac universe in the That you or tomb to contemplate the bubbles in the screensaver or you are tomb; In the Chochueca Strategy, the many talents of this writer appear, which, although very young, already occupies a space between the authors to be in sight in the next years.; Conclusion Rita Indiana Hern;ndez is a young author from Dominican whose first novel La Estrategiadewhich was published when she was 25. Also, she was known as the most important commitment to the Dominican story in 20 years. Amazing. There is an intriguing interview in English with her in his work in which she speaks regarding her poetry work as well as her 2005 novel Papi none of which I can discover about the issue.; The novel speaks of the social evils that sorround Dominica, the author believes that the youths have the power to make changes in their society, but they are falling to do so. The city has fallen to the alien hands and its being characterized by a lot of evils. The atmosphere in the city is unpleasant and boring, people are not living below their expectation and there is a need to revolutionize and bring change.; Work Cited Hern;ndez, R. I. (2003). La Estrategia de Chochueca: novela. Isla Negra Editores.

US-Europe relations Essay Example | Topics and Well Written Essays - 2000 words

US-Europe relations - Essay Example This paper demonstrates an insightful study of the Cold War and its impact on the growing relations between the US and the Europe. Europe is considered to be one of the greatest allies of US in the era of 'war on terrorism' first on Afghanistan and on Iraq.The Cold War played a great role in bringing the two countries together for their economic, geopolitical and security needs. While the Europe wants to remain as a close ally of United States, the United States wants to strengthen Europe to project the country as its strong global partner.Besides studying the impact of Cold War in shaping the economic, social and political relationship between United States and Europe, this paper also provides an overview to the background of the Cold War and the geographic and the strategic importance of the region for the United States and Soviet Union. The cold war was commenced in the late 1940s and ended in the late 1980s. The war broke out as an aftermath of the First and Second World War. Crockatt (1995) states that major cause behind the war was the increasing strength and dominance of United States in the global context after the First World War. The potency of United States and the continuing impuissance of Soviet Union Empire evoked a clash of two forces claiming to be super powers. The contentions between United States and Soviet Union erupted as the two countries began to perceive each others as enemies and competitors in global arena. After the First World War, the United States emerged as the global economic power and this continued to be a source of hostility on the part of the Soviet Union, which faced devastating consequences after the war. Gates (1996) propounds that the World War II further ignited the issue of dominance, which resulted into the debilitation of two giant global economic and geopolitical powers; British and French. Thus, as a consequence, the European rule came to an end and two new powers emerged on the global geopolitical screen; the United States and Soviet Union. The Second World War transformed the global geopolitical scenario as the two previous economic powers tumbled and two new contenders for global superiority emerged on the scene. Hence, the issues between United States and Soviet Union further aggravated and both the countries started to conspire against each other. European region was one of the regions in the world that attracted the grave attention of both the countries. Soviet Union faced imminent threats from the East European region with both the regions sharing the same borders. Leffler (1994) states that as the influence of Soviet Union grew into the East European region, the United States and Western European countries began to perceive it as a threat to their global dominance and security. Furthermore, the United States gave rise to policies curtailing the influence of Soviet Union in the region. In the same breath, the United states promoted its anti-communism policies in order to minimize the Soviet activities around the globe. In the Second World War, mass destructive nuclear weapons were used on the part of all the economic powers. It made other countries join the race for development in nuclear and missile technologies and considered it to be of significant essence to their security concerns. Kissinger (1994) illuminates that the Second World War, which led to the global competition for nuclear weapons, enhanced the potency of United States and accelerated the decline of Soviet Union as a global economic power. Having realized the pre-eminence of being an atomic power, the United States decided to strengthen itself as the giant nuclear power so as to maximize its influence globally. This was all the background of the consequences that led to the beginning of Cold War during 1940s, in which the United States and the Soviet Union remained as prominent players of the game. Walker (1993) expresses that the Cold War was permuted into a political war after the beginning of Korean War, which

Engineering Strategy Essay Example | Topics and Well Written Essays - 3500 words

Engineering Strategy - Essay Example Having won National Bed Federations "Bed Manufacturer of the Year - 2011/2012" award and the prestigious Manufacturing Guild Mark (MGM) accreditation, this entity is engaged in producing customized and handcrafted comfortable beds, using sustainable materials of high quality. It is a British company originated within UK and operating in various territories outside it (Hypnosbeds.com, 2013). This paper is based on facts, figures and data of this company and provides a detailed critical analysis of its corporate objectives and manufacturing strategies. The paper provides the complete process of developing and designing an appropriate manufacturing strategy of the company, considering its overall corporate goals and coordination with other functions supporting its manufacturing. After proposing strategy, it is compared to the existing strategy and thorough evaluated for planned outcomes. Finally, dissertation focuses on the obstacles that the company might face during implementation pha ses, implications of communication and coordination of the entire plan and strategy across the organization and measurement techniques that management can deploy in order to assess the extent of achievement of planned objectives and identify any departures from initially forecasted results. A manufacturing strategy is a collaborative process of production, reformulation and utilization of inputs and factors of production, supporting overall corporate strategy and giving a competitive advantage to organization (Marucheck et al., 1990). This definition depicts the vitality of manufacturing strategy in ensuring success of business and achievement of manufacturing excellence. Manufacturing excellence is dynamic value adding process that enables satisfaction of customers and suppliers through continuous improvements that are compatible with overall corporate objectives (Roth et al., 1992). An optimal manufacturing strategy is capable of creating

Evergreen Naturals Market Essay Example for Free

Evergreen Naturals Market Essay There were numerous factors that contributed towards the constant success of Evergreen Natural Markets. The company’s methodology towards growth and expansion is one of the integral factors. Where most companies seek to grow by re-investing their profits back into their businesses (ploughing back), Evergreen adopted a more radical approach by acquiring other competing companies or companies that show potential of growing rapidly. Evergreen designed a strategy that was twofold in nature. By bringing in rival companies under the Evergreen umbrella, the approach simply eliminated any competition, increased the resources and financial base and made it easier for Evergreen to have a wider scope and reach. Granted, acquisitions have issues with integration of management and operations. However, this approach has been steadily used by Evergreen, and this has resulted in its prosperity as an organic food distributor. As the latest addition to the Evergreen umbrella, Aragula Grocers serve to make the effect of the mother company increasingly widespread. The recent acquisition can allow the company to lower its prices and engage in aggressive marketing that will make Evergreen more successful. 2. Why do stores improve their performance after being acquired by Evergreen? The main reason for the increased performance after joining the Evergreen was the approach adopted by Evergreen. On the surface, they may seem like clear acquisitions. However, the acquired stores are allowed to maintain their functional systems and procedures. In this way, Evergreen owns the stores but allows them to continue operating in the same way. The slight modifications that at times were made on the administration and management included branding, change in sales approach, and other minor issues. Using the operational systems of the different stores, Evergreen was able to utilise their combined efforts and attain massive profits. On the other hand, the smaller stores also got to prosper under the Evergreen because of two arch factors. One was the fresh infusion of capital and administrative support provided by Evergreen. Evergreen offered increased investment opportunities by providing the capital, human resources, and other assistance. The second factor was an advantage of working under a larger company that allows one to work without much competition from the outside. 3. How well does the acquisition of Arugula Grocers align with Evergreen’s established approach to integrating new stores? What modifications, if any, should Norton make? The acquisition of Aragula Grocers is an advantageous addition to the Evergreen group as it offered new opportunities in Nevada, Las Vegas. However, several modifications would serve to improve the situation in their relations. Firstly, Mrs. Norton should introduce more effective communication measures that will ensure that the link between Evergreen and Aragula Grocers is not severed. It was discovered that the link between these two parties was weak, and this will lead to confusion and dilution of the vision of the mother company. Secondly, Norton also needed to rectify the financial status of the store before investing in it seriously. Aragula Grocers was acquired amid a series of financial issues and complications that showed signs of mismanagement. Adopting these problems will lead to failure of the store and eventually, losses for Evergreen. Mrs. Norton should also consider making modifications to the management style in Aragula Grocers. The changes should reflect the three proposals that she made concerning all acquisitions under Evergreen. These changes involved investing in improving human resources, maintaining the local setting, and caring about the welfare of the employees and customers. These three proposals would serve to change the atmosphere and approach taken by the Aragula management as they start operations under Evergreen.

Voice Over Internet Protocol Essay -- essays research papers

Voice Over Internet Protocol(Voip) VOICE OVER INTERNET PROTOCOL (VoIP) INTRODUCTION: In the eyes of most, all packets are created equal. One of the most active areas of telecommunications today is in the area of Voice over Internet Protocol (VoIP). The logic behind this trend makes perfect sense. If we have invested heavily in an Internet Protocol (IP) network, why can’t we make full use of it? This is a question posed by many managers and Information Technology (IT) professionals in a wide range of businesses. Many businesses would prefer to have one network in and out of their business for reasons ranging from cost effectiveness to manageability. IP telephony offers a promise of consolidation. This will allow an enterprise to converge its traditional phone system and newer data network for greater efficiency. Arieh Dranger, president of neXTel Systems LLC says, â€Å"I don’t think it’s a question of whether we need VoIP, but when it will come together, because it represents a natural progress o f integrating data—period. The IP protocol is probably the most efficient at combining a universal communications network.† Basically, IP telephony is taking the telecom world by storm. It has evolved from a little known and used application in 1995 to an application that is poised for global adoption. But as with all technology, there is a price to be paid, and several entities vying for a piece of the pie. WHAT IS VoIP and HOW DOES IT WORK? To put it simply, VoIP means Voice over Internet Protocol. It’s a technology that allows network managers to route phone call over the network they use for data transmission. A voice travels over a corporate Intranet or the Internet instead of the public telephone system. Special gateways installed at both the sending and receiving end of a communications channel converts voice to IP packets and back again to voice. This process must take place in a time frame of less than 100 milliseconds to sustain the Quality of Service ( QoS) that users are accustomed to from the Public Switched Telephone Network (PSTN). Now let’s take a walk on the more detailed side of what VoIP is and how it works. First and foremost, VoIP is an emerging technology still in the early stages. A personal computer (PC) must capture an analog voice and convert it to a digital signal, compress the audio with a compression-decompression (codec) device and then move... ...the Internet. The players are as equally far flung, from the traditional cornerstones of the Plain Old Telephone System (POTS) to the new generation startups, to the steps of local, state, and federal governmental agencies. Such dynamism makes it difficult for IT managers to filter the flood of information and assess how VoIP might fit into their networks. Unless PSTN undergoes some massive restructuring, its long-term existence in its current form is in serious doubt. Emerging Internet technologies will be the low cost solution for managers looking for mixed traffic connectivity. Only in the end, after all the smoke has cleared will we know which business models survived the shake down in this lucrative market. Other problems are bound to arise in the arenas of technology and regulation. At this point there is significant progress to be made in the area of VoIP to achieve the quality we enjoy today with the PSTN. The only sure thing from this technology or any other that will al ways be consistent, reliable and never become outdated is that the Government WILL find a way to ensure their revenue stream†¦ after all â€Å"There’s no such thing as a free lunch.† 6 pages Word Count: 2352

Love and Friendship Essay

Aristotle once said, â€Å"Friendship is a single soul dwelling in two bodies.† As everyone knows, it is one of the important things in our lives. It is the only ship that doesn’t sink even without the captain or the crew. Love and affection must maintain its equilibrium otherwise, that friendship can’t be possible. Friendship is a gift by God; it is the beginning of love and care and it should be cherished by every individual. Did you ever realize life without it? Like your family, a friend is your number one supporter and maybe a favorer of a cause. A friend can be the best of all or your worst enemy. They can be your annoying sister who teases you, laugh at you and make fun of you or your loving mother who gives you advice, hug you and protect you. Friendship is between you and your friends and it depends on how you treat them and how they treat you back. If you haven’t learned the meaning of friendship, you really haven’t learned anything. For me, a friend’s argument hurts more than a broken partner’s relationship. A broken trust cannot easily rearrange your relationship with your friends. It’s like a crumpled paper, you can use it again but its appearance will be unpleasant. You can never straighten the wrinkles on the paper unless you replace it with a new one. Friendship is built on trust and it should be until the end of time. There are lots of benefits your friend can give you. First, they can be your light in the dark – you should never seek them because if they’re true, they will always be there for you. Next, they can be your shield to protect you and your strength to boost your confidence. Lastly, they can be your partner in crime. They can help you in times of need, they can give you a lot of advice, they can lift you up when you’re down etc. If life goes wrong, don’t worry, they won’t turn their back against you. As Plato said, â€Å"Friends have all things in common.† They teach us how to be strong in facing reality and how to fight for what we believe. This is one of the proofs why God created people with other people. People can’t leave without friends because a friend teaches everything and they don’t just benefit us, they benefit all. You’ll experience great and strange adventures if you have them and you’ll learn a lot because of them. Come; see the world behind your wall with me my friend.