ACSC 533 Study Guide - Midterm Guide: Centers For Medicare And Medicaid Services, Mathematical Finance, Actuary
31 Mar 2018
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Document Summary
As society"s attitude towards risk changed over time, a need for actuarial expertise developed. Actuaries also help ensure the success of the financial security system as a whole: an actuary is a professional, knowledge-related, value-related: The members provide a service which is valuable to society, and live up to a high standard of ethical behaviour: organizational: Communication skills are as important as technical skills. A financial security system (ffs) is an entity that provides financial security products to its members. It does this in order to reduce or eliminate financial insecurity related to economic losses that could cause financial insecurity to its members. Financial security systems provide products that encompass life insurance, health care financing, retirement plans, property and casualty insurance, etc. , and nontraditional forms such as warranties. The base level of protection against financial insecurity is often provided by social insurance. This is coverage established by the government.
