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Actuarial notation is a shorthand method to allow actuaries to record mathematical formulas that deal with interest rates and life tables. Traditional notation uses a halo system , where symbols are placed as superscript or subscript before or after the main letter.
The actuarial present value (APV) is the expected value of the present value of a contingent cash flow stream (i.e. a series of payments which may or may not be made). Actuarial present values are typically calculated for the benefit-payment or series of payments associated with life insurance and life annuities .
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. Actuaries are professionals trained in this discipline.
The following outline is provided as an overview of and topical guide to actuarial science: Actuarial science – discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries.
Actuarial science is the discipline of assessing risk in insurance, finance, and other industries and professions ... Actuarial notation; Actuarial present value;
It is generally equal to the actuarial present value of the future cash flows of a contingent event. In the insurance context an actuarial reserve is the present value of the future cash flows of an insurance policy and the total liability of the insurer is the sum of the actuarial reserves for every individual policy.
In actuarial notation (x) denotes a status or life that has survived to age x, and T(x) is the future lifetime of (x) (T(x) is a random variable).
A fact from Actuarial notation appeared on Wikipedia's Main Page in the Did you know column on 24 July 2004. The text of the entry was as follows: Did you know... that actuarial notation uses a halo system with superscript or subscript symbols placed before or after the main letter? A record of the entry may be seen at Wikipedia:Recent ...