Insurance & Financial Mathematics
What insurance & financial mathematics means
Understand premiums, interest and the mathematics behind insurance.
Before you start
Not confident yet? Work through Probability for Actuaries first.
Worked example
One question from this skill's own question bank, shown with its full working.
The amount a policyholder pays an insurer for cover is called the:
- Claim
- Premium
- Dividend
- Benefit
Working: A premium is the regular payment made to keep an insurance policy in force.
Curriculum and exam alignment
Curriculum notes are a general guide to where this work normally sits. Always check the syllabus your school or examination body is currently using.
Related skills
Other Risk, Probability & Actuarial Methods skills in Actuarial Science, at the same point in the course.
Other Actuarial Science topics
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Practise insurance & financial mathematics
8 questions with a worked answer after every attempt, and a SmartScore that tracks how close you are to mastery.