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actuarial companies

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1) "Actuarial" -- As to actuarial companies ac·tu·ar·i·al Pronunciation: "ak-ch&-'wer-E-&l, -'wer-rE-, -sh&- Function: adjective 1 : of or relating to actuaries 2 : relating to statistical calculation especially of life expectancy - ac·tu·ar·i·al·ly /-E-&-lE/ adverb Pronunciation Symbols 2003 US mortality (life) table, Table 1, Page 1 Actuarial science applies mathematical and statistical methods to finance and insurance, particularly to risk assessment. Actuaries are professionals who are qualified in this field through highly competitive examinations and experience. Actuarial science includes a number of interrelating disciplines, including probability and statistics, finance, and economics. Historically, actuarial science used deterministic models in the construction of tables and premiums. The science has gone through revolutionary changes during the last 30 years due to the proliferation of high speed computers and the synergy of stochastic actuarial models with modern financial theory (Frees 1990). Many universities have undergraduate and graduate degree programs in actuarial science. In 2002, a Wall Street Journal survey on the best jobs in the United States listed “actuary” as the second best job, while in previous editions of the list, actuaries had been the top rated job (Lee 2002). 1 Life insurance, pensions and healthcare 2 Actuarial science applied to other forms of insurance 3 Development 3.1 Pre-formalization 3.2 Initial development 3.3 Early actuaries 3.4 Effects of technology 3.5 Actuarial science and modern financial economics 3.6 Actuaries outside insurance 4 See also 5 References 5.1 Works Cited 5.2 Bibliography Actuarial science became a formal mathematical discipline in the late 17th century with the inc..." 2) "Companies" -- As to actuarial companies 1com·pa·ny Pronunciation: 'k&mp-nE, 'k&m-p&- Function: noun Inflected Form(s): plural -nies Usage: often attributive Etymology: Middle English companie, from cumpaignie, from cumpaing companion -- more at COMPANION 1 a : association with another : FELLOWSHIP <enjoy a person's company> b : COMPANIONS, ASSOCIATES <know a person by the company she keeps> c : VISITORS, GUESTS <having company for dinner> 2 a : a group of persons or things <a company of horsemen> b : a body of soldiers; especially : a unit (as of infantry) consisting usually of a headquarters and two or more platoons c : an organization of performing artists d : the officers and crew of a ship e : a firefighting unit 3 a : a chartered commercial organization or medieval trade guild b : an association of persons for carrying on a commercial or industrial enterprise c : those members of a partnership firm whose names do not appear in the firm name <John Doe and Company> Pronunciation Symbols The term company may refer to a separate legal entity, as in English law, or may simply refer to a business, as is the common use in the United States. 1 Within the U.S. 2 Outside the U.S. 2.1 History 2.2 Types 2.3 Corporate constitution 2.4 Shares and share capital 2.5 Corporate personality 2.6 Capacity and powers 2.7 Officers and agents 2.8 Members' rights and majority rule 2.9 Director's duties 2.10 Liquidations 3 Footnotes 4 See also In the United States, a company may or may not be a separate legal entity. Any business or for-profit economic activity may be referred to as a company; examples of this include "my company", "our company", "the company", and "their company". A corporation may accurately be called a company; however, a company should not necessarily be called a corporation, which has distinct characteristics. According to Black's Law Dictionary, in the U.S. a company means "a corporation - or, less commonly, an association, partnership or union - that carries on industrial enterprise."[1] In law, a company refers to a legal entity formed which has a separate legal identity from its members, and is ordinarily incorporated to undertake commercial business. Although some jurisdictions refer to unincorporated entities as companies, in most jurisdictions the term refers only to incorporated entities. It has been judicially remarked that "the word company has no strictly legal m..." 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