Assessment Template For Actuaries

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 insurance rates required and cash reserves necessary to ensure payment of future benefits.
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Actuarial AnalystActuarial AssociateActuarial ConsultantActuaryConsulting ActuaryHealth ActuaryPricing ActuaryPricing AnalystProduct Development ActuaryRetirement Actuary

Occupation-Specific

Technology Skills
Data base user interface and query software
Questions30
Time Limit15 min

Tasks

  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
  • Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
  • Provide advice to clients on a contract basis, working as a consultant.
  • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.

Technology Skills

Data base user interface and query software

Microsoft Access, Microsoft SQL Server, Oracle software, Structured query language SQL

Presentation software

Microsoft PowerPoint

Financial analysis software

GGY AXIS, Oak Mountain Software AnnuityValue, Pricing software, Towers Perrin MoSes

Analytical or scientific software

IBM SPSS Statistics, Insightful S-PLUS, SAS statistical software, Statistical software

Object or component oriented development software

C++, Oracle Java, Python, R

Worker Requirements

Technology Skills
Data base user interface and query software
Questions30
Time Limit15 min
Skills
Critical Thinking
Questions25
Time Limit25 min
Knowledge
Mathematics
Questions30
Time Limit20 min

Skills

Critical Thinking

Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.

Judgment and Decision Making

Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Mathematics

Using mathematics to solve problems.

Reading Comprehension

Understanding written sentences and paragraphs in work-related documents.

Active Listening

Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Knowledge

Mathematics

Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Economics and Accounting

Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.

English Language

Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

Computers and Electronics

Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Law and Government

Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Worker Characteristics

Technology Skills
Data base user interface and query software
Questions30
Time Limit15 min
Skills
Critical Thinking
Questions25
Time Limit25 min
Knowledge
Mathematics
Questions30
Time Limit20 min
Abilities
Mathematical Reasoning
Questions25
Time Limit20 min
Interests
Conventional
Questions20
Time Limit15 min
Work Values
Working Conditions
Questions20
Time Limit25 min
Work Styles
Analytical Thinking
Questions25
Time Limit20 min

Abilities

Mathematical Reasoning

The ability to choose the right mathematical methods or formulas to solve a problem.

Number Facility

The ability to add, subtract, multiply, or divide quickly and correctly.

Deductive Reasoning

The ability to apply general rules to specific problems to produce answers that make sense.

Inductive Reasoning

The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).

Near Vision

The ability to see details at close range (within a few feet of the observer).

Interests

Conventional

Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Investigative

Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.

Enterprising

Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

Work Values

Working Conditions

Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.

Achievement

Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.

Independence

Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.

Work Styles

Analytical Thinking

Job requires analyzing information and using logic to address work-related issues and problems.

Attention to Detail

Job requires being careful about detail and thorough in completing work tasks.

Integrity

Job requires being honest and ethical.

Achievement/Effort

Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.

Dependability

Job requires being reliable, responsible, and dependable, and fulfilling obligations.

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