Math Help : What Math Do Actuaries Use?

Actuaries work in insurance and often deal with probability, such as when dealing with the financial consequences of a risk. Find out how the work of actuaries figures prominently into everyday math with help from a math teacher in this free video on math lessons.

Expert: Jimmy Chang
Bio: Jimmy Chang has been a math teacher at St. Pete College for nearly a decade. He has a master's degree in math, and his specialties include calculus, algebra, liberal arts, math and trigonometry.
Filmmaker: Christopher Rokosz

Category:

Howto & Style

Tags:

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[Khemix4]

better answer:

all highschool math. calculus of single variables and multivariables. linear and matrix algebra. calculus based statistics and probability. also depending on specialty: stochastic statistics and differential equations. all equivalent to the first 2-3 years of a stats/math major.

[quantaferus]

Those hands, so creepy

[jar1792]

Im preparing for the Actuarial exam. I'm taking Calc 1-4, Mathematical proofs, Business Statistics, Time series Statistics, Advanced linear regression Models, Probability theory, and 2 other stats theory classes. plus im receiving my Bachelors in Finance from Cal Poly SLO. soooooo.... yeah. its a lot of math

[bucko06]

Jimmy Chang... ahahaha

[quarzent]

@Khemix4 "all equivalent to the first 2-3 years of a stats/math major." ....Or engineering, or physics major.

[practicalwhacktical]

@milojhanju I am an adjuster, but have worked heavily with actuaries. Many US universities have an actuary specific program that you can major in that will set you up properly. If not, look one up to see the courses they have.

[ChayDawg64]

@Khemix4 cool name. has a hint of logical thinking but a sense of mystism... like Dr. Strange. or the Amalgam of him and Fate. Anyway. thank you for your answer. so my question is: my understanding of derivatives were a very complicated sequence that almost borderline theoretical. like lover case i. imaginary numbers. is it truly possible to mathematically calculate a future? i do apologize if im being too analytical.

[Khemix4]

@ChayDawg64

there are plenty of derivatives and sigma sign's found in the math used by actuaries. while you may not deal with truth tables directly, you will need to know them to deal with the math you are using.

[jamesbrannick123]

Great vid jimmy instructive short and to the point! Nice 1!

[ChayDawg64]

@Khemix4 sweet. are derivatives and the sigma sign anywhere in there? oh, and logic? ummmm would an Actuary have to deal with truth tables?

[booe34]

You are a schmuck...a schmuck!!!