Are You An Actuary?

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| By Maggid
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Maggid
Community Contributor
Quizzes Created: 1 | Total Attempts: 3,880
Questions: 5 | Attempts: 3,883

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Are You An Actuary? - Quiz

This quiz determines definitely whether you're an actuary or not.
After finishing this quiz, some experienced actuaries may find out that they don't qualify. .

In this case improve your soft skills at Actuary-Info and do the quiz again.

On the other hand some non-actuaries may perhaps conclude that they do qualify as an actuary.
Congratulations! Please develop you hard skills by following a professional actuarial study at an university in your country.

Either way, don't forget to enjoy the quiz. Fun and professionalism go hand in hand in life.

Success!

Joshua Maggid


Questions and Answers
  • 1. 

    Who's the real actuary? 'Sitting Ducks' is a lithograph created by Michael Bedard in the late 1970s. It depicts a literal interpretation of the idiom "sitting duck". Of course we all know that the caricature of an actuary as a sitting ducks sucks. But never the less, can you tell who's the real actuary?

    • A.

      The one on the left

    • B.

      The middle one

    • C.

      The right one

    Correct Answer
    C. The right one
    Explanation
    Hold your breath...
    The answer will be given after question 2.

    Rate this question:

  • 2. 

    Motivate your choice Please explain why you picked the actuary duck you picked in question 1. I chose actuary X because...

    • A.

      He's the one most relaxed!

    • B.

      He makes study of what he's doing

    • C.

      He's the outward looking one

    • D.

      He's the one that noticed the bullet holes

    • E.

      He's the one looking me in the eye

    • F.

      He's the only one decently dressed

    • G.

      He's the only one that pays attention to his colleagues

    • H.

      He's not distracted by his surroundings

    Correct Answer
    D. He's the one that noticed the bullet holes
    Explanation
    All observations make sense. However, the most important talent of an actuary as risk manager is to pay attention to early warnings, Therefore unfortunately only 'bullet holes' score in this question.
    This also makes the right duck the best actuary.

    Rate this question:

  • 3. 

    What's most important for an actuary? The actuary work field is full of fallacies. Actuaries need a lot of skills and tools to advice their clients. What do you consider as the most important in your actuarial work and why?

    • A.

      It must be Vision. Without vision there's no direction and all choices are defendable...

    • B.

      Definitely Tools. You may have data and vision, but without the right tools you're lost

    • C.

      Surely Knowledge. If you lack knowledge you can't formulate robust models or a vision...

    • D.

      Clearly Models. If you can't model it, you can't explain it either

    • E.

      Undoubtedly the Data. Without data you're blind and can't underpin our advice.

    • F.

      All of those above and all of the time, as you can not do without one of them

    Correct Answer
    A. It must be Vision. Without vision there's no direction and all choices are defendable...
    Explanation
    One day when electricity fails, your data are lost,your tools have become wasteless and your knowledge has betrayed you, it all comes down on your vision. Can you convince your clients just on your vision?
    Answer 'all of those above' is simply wrong. Of course if something fails it'll be a handicap. But with You and your vision on stage this handicap will turn out to be a success factor!

    Rate this question:

  • 4. 

    Who's the most ethical actuarial student in this cartoon? This cartoon (original source: Bennett) about ethics says it all.  Ethics become more and more important in today’s society. Can you tell who's the student whith the best ethical attitude on this actuarial exam about ethics?

    • A.

      The guy with the blue shirt, because he doesn't cheat

    • B.

      The woman. It doesn't mind that she cheats. Woman's ethics are different from man's

    • C.

      The man in the brown shirt. He can't look over the shoulder of the student in front

    • D.

      The man on the left. He clearly doesn't cheat and he's the only one writing 'right'.

    • E.

      The woman, because she cheats openly

    • F.

      The man on the left. He is trying to get the attention of the invigilator to report the cheating

    • G.

      The student with the blue shirt, because he looks smart

    Correct Answer
    F. The man on the left. He is trying to get the attention of the invigilator to report the cheating
    Explanation
    As we are not able to conclude definitely from this cartoon who is or isn't cheating, nor who has or hasn't been cheating, the only right thing an actuary should do is trying to or warn the invigilator...
    Therefore the student on the left must be the actuary.
    Probably the man in the blue works at the Regulator's office, because a lot of actuaries seem to copy him..... ;-)

    Rate this question:

  • 5. 

    Who would you appoint as actuary? Whether you know the story of Snow White and the seven dwarfs or not, doesn't matter. Your recruitment manager just showed up with seven actuarial applicants. You have to appoint the leading actuary. Which actuarial dwarf do you appoint as an actuary?

    • A.

      Dopey

    • B.

      Bashful

    • C.

      Sneezy

    • D.

      Sleepy

    • E.

      Happy

    • F.

      Grumpy

    • G.

      Doc

    Correct Answer
    F. Grumpy
    Explanation
    Grumpy is the only one that has countervailing power (grumpiness) you need as an actuary.

    Rate this question:

Quiz Review Timeline +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 19, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jun 18, 2011
    Quiz Created by
    Maggid
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