Basic Details
Word: Actuary
Part of Speech: Noun
Meaning: A professional who uses mathematics and statistics to assess risk, especially in the insurance and finance industries.
Synonyms: Risk analyst, statistician
Antonyms: Layperson, amateur
Idioms and Phrases
- Crunch the numbers: To perform calculations or analyses. Example: "The actuary crunched the numbers to determine the insurance rates accurately."
- Play it safe: To be cautious and avoid risks. Example: "The actuary always advises companies to play it safe when making financial decisions."
Usage Examples
Example 1: The actuary prepared a detailed report on the potential risks for the new insurance policy.
Example 2: With her expertise, the actuary was able to predict the likelihood of natural disasters affecting the premiums.
Example 3: Actuaries are vital in helping companies make informed decisions about their financial future.
Fun Fact
Did you know that actuaries often use complex models and simulations to predict future events, which makes their job both challenging and fascinating? They can even analyse historical data to forecast possible outcomes!
Famous Quote
"The actuary is the clearest proof that mathematics is necessary for warfare and insurance." - Reverend Thomas Bayes
Multiple Choice Questions (MCQs)
1. What does "actuary" mean?
a) A doctor
b) A professional who assesses risk
c) A teacher
d) A farmer
Answer: b) A professional who assesses risk
2. Which of these is a synonym of "actuary"?
a) Risk analyst
b) Chef
c) Pilot
d) Artist
Answer: a) Risk analyst
3. Which of the following would NOT be an antonym of "actuary"?
a) Amateur
b) Layperson
c) Specialist
d) Novice
Answer: c) Specialist
4. Which sentence uses "actuary" correctly?
a) The actuary baked a cake for the office party.
b) The actuary evaluated the financial risks of the new project.
c) The actuary painted a beautiful landscape.
d) The actuary played football in the park.
Answer: b) The actuary evaluated the financial risks of the new project.
5. Which idiom relates to how an actuary works?
a) Crunch the numbers
b) Out of the blue
c) A stitch in time saves nine
d) Hit the nail on the head
Answer: a) Crunch the numbers
