How Actuaries Use Parallelograms // Real Actuarial Concepts
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- čas přidán 12. 09. 2024
- Instead of just talking about myself (let's be honest, I could do that all day), I thought I'd try and teach you guys some real actuarial concepts.
I see people making CZcams videos about the preliminary exams, but I haven't come across anyone making FREE study resources for advanced actuarial exams. Obviously, since I'm an FCAS, these videos will be P&C focused. If these videos become a hit, I can drag some FSAs over on to my channel to make videos about that kind of stuff too.
Disclaimer 1: As I was editing this video, I realized it was kind of boring. I strive to make actuarial content that is clear and accessible to my audience. I know that I'm going to struggle to do that at the beginning, but over time, I hope to improve my video making skills.
Disclaimer 2: I am not affiliated with any study manual company, and this video is not sponsored by any actuarial association. It is based on material taught in Werner and Modlin, which is on the syllabus for CAS Exam 5.
Yes yes yes very exited for this series 😬😬😬
+NUTELLA NUTELLA 😁😁😁
I now know enough to pass CAS 5!!! Thank you Prof. Elle!!!
We need more of these videos. Please keep it up!
hope this series continues
+King Lee glad you enjoyed!
It's critically important to note and share by way of context that all that you are learning on the Actuarial lines is also very relevant to North American and Global Challenges on Pensions, Retirement and Funding, Insurance and other needs. If you ever run out of inspiration begin to challenge yourself to both the abstract model of how Actuaries feed the Macro Models of Economics and the Entity Models of Pensions, Insurance and Investment Funding. You know that what you do is a very central and important part of that model and it's a useful excercise both to consider entity value AND the context of Economic Value to direct and indirect Shareholder, Policy Holder and Community / Societal Stakeholder value through the Actuarial Lines. Hope this adds something of value to your interests and analysis . Best Dean
Sorry, I'm not sure I understand your comment
I loved this !! I'm in first year and I haven't learned these concepts yet but this video gave an understanding to the "basics "of what I'm learning
Great video!! Watched all your videos but waiting for this type of educational video.
+Rakesh Rautela glad you enjoyed!
Loved it!!! Hope you could make more videos on the advanced topics, including the technical skills.
+Xiangyi Xu thank You!
i want to do an actuary but i want to know if you have to like communicate a lot with other people and or if they work long hours like how is the job like and i also want to study optometry along side maybe and what are the hours like and how long did the exams take for you and is the job stressful ? sorry for asking so many questions!!!
Do more actuary videos, plz!
Hey there! I am a huge fan of yours! I love your videos...I just want you to tell me as to how much and mainly what kind of Geometry is involved in the studies of actuarial science.. Isn't most of the studies only involving Algebra? I hate Geometry :-( PLEASE DO REPLY
Interesting, I hope you continue with this type of video
Thanks for this video, I understand more the concept. Can you please do more technica&mathematicall videos like this one. Thanks again :)
Make the video on the specifics of aggregation and leveling! Kind please
Thank you so much for this I really loved and appreciated it and hope you continue to do more
+Hasan Mushtaq glad you enjoyed 😀
This was awesome!
+Timothy Runke glad you enjoyed!
Really love these videos. I'm a highschool student who is really interested in this career.
+Nathan Acio glad you enjoyed!
I am currently studying actuarial science and iam thinking following the CAS track but I have a technical question.I have two different lessons in the university.The first one is about ratemaking(premium=frequency*severity,chain ladder method,parallelograms ect) and the other one has to do with collective risk models ect.My question is when you use the first and when the second because it seems that they are so different that they cancel each other
I am a grade 9 student in south Africa and i am so in love with actuarial science and i am an average learner in maths and i don't know if i qualify in this career i am craving for
my fav video so far
Happy to hear it
Great video. As a student Im really grateful for this. Thank you
+Jae Chung glad you enjoyed it 😀
Can you do some sort of introduction to GLMs?
I can try!
Love your hair
Thank you so much! You really are amazing at explaining :)
+Vedika My pleasure 😄
I just found this channel and it's amazing! :D Subbed! I'm a high school student in Ontario and I'm considering actuarial science as a possible career path because I'm very interested in math. I just have a quick question, do actuaries need to be very knowledgeable in business and accounting or is the math more important in the field? Hope to see more videos! :)
I'd say it depends on what your goals are. I wouldn't consider myself to be particularly business savvy, but I'm learning. Over time I'll learn. I think understanding how business works is important if you want to move high up the corporate ladder, but I wouldn't stress about it today.
Thanks!
Keep up the great work!👍🏻
+Kaylen Behari I'll try!
Great shows and thanks for sharing, may I ask what software you use to demo in this CZcams 😊
PowerPoint 😂😂
Hello dear, I want to ask one question which is out of course that can actuary statistics can be use in olymp trading in any way? Pls pls............. Reply soon waiting for reply thanks
Really good information on calendar year, policy year
Glad you enjoyed!
Great video. What program did you use to make those snappy graphics?
+Justin Wright PowerPoint. It took a while... lol!
You sure do have a lot of determination lol.
Girl's gotta do what a girl's gotta do!
This video is awesome!
+Joseph Evans thank you 👍
Do I have to be a member of SOA/CAS to take the exams?
I'm literally on my last semester of my bachelor's degree on Business and i'm really interested on the actuarial career as of late, but I'm not completely sure on how to start the exam process.
Nope. Anyone can register on the SOA/CAS website to take an exam. To start, you just need to get a study manual, register for the exam, study a few months... good luck!
Does the university reputation matter in actuarial science or it is irrelevant because everyone does the same exams (well depending on your track)?
+Sboykhan Han I haven't felt that university reputation mattered that much. However, in Canada we have a few schools that offer actuarial science programs, and the majority of the actuaries that I know came from one of those schools. So I don't know.
If anything, it may affect your entry level position, but once you're a fellow I can't see it mattering that much
hi elle! how much economics is involved in actuarial science? because i've been aiming towards the profession for the past year, but i'm realizing in my first semester of college that 1) i'm not very good at economics and 2) it is incredibly uninteresting to me
I mean.. beyond basic supply and demand, I don't remember too much from my economics courses...
EllelleActuary that's good news! thanks!
Hey, i was wondering if you had to study business laws as a uni course, is it a requirement for actuaries, or do you think it helps?
love the videos btw and keep up the good work!
+Ted I've never taken a business law course
Hi I’m a high school student who’s about to choose actuarial science for uni, but people keep telling me that I should be super ready for hardcore maths or else I’m fucked. So I just wanna ask if math is really hardcore (linear algebra, calculus) (engineer hard level) or is it just harder maths than finance and accountings but not as hard as engineers?
The math you do at uni will be tough, but doable. When you work as an actuary, it's not nearly as math-y as university. Good luck!
EllelleActuary as a first year student what would you say are topic that u should actually know
Currently I have capable of doing:
Binomial probability, normal distribution probability, basic conditional probability, Venn diagrams, pre-calculus, basic complex no and statistics
EllelleActuary I saw things called joint density functions on actuary websites, should I have some kind of knowledge about them?
To do joint pdf's you need knowledge of multivariable calculus or calculus 3.
Great video 👍👍👍👍
+denz310 Thank you 👍
How much does an Actuary actually use the hardcore math and proofs, they get through in university. I will know what courses is more important as an actuary and what courses that are completely irrelevant (ofc as an actuary). For example, we had a course named Operational Research, but it was fully unnecessary, we found out.
+SA 3 little to not at all
Thank You My Princess 🌷🌷🌷
+المجالي شعلان you're welcome!
What do you mean every time you say “I wrote my exam”
Actuarial exams
EllelleActuary But why do you say write exams? Sorry I am barely getting to know things about being actuary.
hey, whats the value of embedding IT skills as an actuary...?
Not sure I understand your question, sorry
I mean, the value of IT platforms used as an actuary.... what sort of features do these platforms have and what are they?
@@makkymakky31 do you mean IT programs?
Actuary actuary actuary
Same
@@Actuaryelle now that I caught ur attention. Can u answer a few question please. Do u have to really love stats to be an actuary and do u use areas of pure maths like differential equations. Thanks:)
No and no
Dont have to love stats. Dont use differential equations
@@Actuaryelle thanks!!!
Do your coworkers see these videos? :D
I try to discourage it but these videos are publicly available on the internet so I cant stop them 😂