Meaning: The word "actuarial" is an adjective that describes things related to the work of an actuary. An actuary is a professional who uses mathematics, statistics, and financial theory to study uncertain future events, especially in the fields of insurance and finance.
In more advanced contexts, "actuarial" might be used in discussions about: - Actuarial models: Mathematical models that actuaries use to predict future events. - Actuarial valuations: Assessments of the financial status of an insurance company or pension plan.
While "actuarial" is primarily used in a financial context, it does not have multiple meanings. It specifically pertains to the calculations and assessments made by actuaries.
There aren’t specific idioms or phrasal verbs related to "actuarial," but you can often hear phrases like: - "Assess the risk": This phrase is often used when discussing the work of actuaries, as they assess risks for insurance and financial planning.
"Actuarial" is a specialized term used primarily in the fields of finance and insurance, referring to the calculations and analyses performed by actuaries.