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The new refrigerator being delivered to the apartment upstairs is covered by an extended warranty. What's the likelihood that the appliance will break down and a replacement is needed? Ask an actuary.
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Think Green, Think Actuary. We help companies understand climate change risks and potential liabilities brought about by changes in the environment.
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Read all about it. Actuaries are increasingly in the news as business leaders because our work is often impacted by current events. For example, recent natural disasters, world economic and financial crises, and healthcare are all topics where actuaries expertise is valued.
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Rising gasoline prices affect how often and how far people drive. Less driving means fewer accidents. We take all of that and much more into account when pricing your auto insurance.
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Planning to take your dog to the veterinarian? Actuaries have developed pet insurance products to help you manage the cost of keeping your furry friend healthy and happy.
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This Chief Risk Officer started her career as an actuary and now occupies an office in the C-Suite. An actuarial career will prepare you to grow professionally and can take you as far as you want to go.
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You should call your power company when the lights go out, but if you're running a business, you should also call your insurance company. Actuaries develop products like business interruption insurance to give businesses peace of mind if there's a power outage.

News

  • Looking for job

    Four degrees with 0% unemployment: Actuary job in hand, before the degree

    College grads who majored in actuarial science have a practically nonexistent unemployment rate.
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  • Actuary Meeting

    International Association of Black Actuaries (IABA)

    August 3 - 4, 2012, Atlanta, GA

    Join us in Atlanta, where both students and experienced actuaries will come together in an environment designed to elevate both professional development and networking opportunities.


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  • Graduates

    Deadline for Actuary of Tomorrow – Stuart A. Robertson Memorial Scholarships is June 1

    The Actuary of Tomorrow – Stuart A. Robertson Memorial Scholarship recognizes and encourages the academic achievements of undergraduate students pursuing a career in actuarial science.
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The Professional Life

Wherever there is risk, there are opportunities for actuaries. And the recent financial crisis has further highlighted the skills actuaries bring to the table. Watch this new Actuaries in Action video to hear what some of today's actuaries say about the future of the profession and the increasing demand for actuaries, especially in nontraditional roles.

Do The Math

A device runs until either of two components fails, at which point the device stops running.  The joint density function of the lifetimes of the two components, both measured in hours, is 

f (x,y)=x+y/8 for 0< x < 2 and 0< y < 2 .

What is the probability that the device fails during its first hour of operation?

  1. 0.125
  2. 0.141
  3. 0.391
  4. 0.625
  5. 0.875

view answer

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