Actuary Interview Questions
390
Actuary interview questions shared by candidates
None
2 Answers↳
None, re-worded the job description when I started asking questions.
↳
Applicant: I am not sure I understand. You want me to enroll in a class and pay you a fee up front? Recruiter: Are you sure this is for you? Have you had this, that, and the other class? Applicant: Doesn't your fee come from the hiring company? I meet the descriptions of the job. Recruiter: I don't think this is for you. I need to shove more mashed potatoes in my mouth. Less
Explain the Bornhuetter-Ferguson method.
2 Answers↳
Be able to articulate that this is a weighting between development of historical losses (chain-ladder) and an expected loss ratio. Less
↳
In BF method we consider basic chain ladder merthod i e past patterns as wellas loss ratio i.e clain per unit of premium related to current data. So it provide a good combination . Less
How many cubic feet in a cubic yard? I was just so caught off guard by this as he just pulled it out in the middle of the interview when I was talking about my current job.
1 Answers↳
27CF
What would you do in a situation where your manager is out of the office and there is an urgent request to do something that you don't have formal authority to do?
1 Answers↳
This was tricky. I explained that I would try to be sure to discuss such potential situations with my manager before they came up in practice to have a good plan about how this sort of thing should be approached. In this particular case, I'd respond to the request and give my preliminary analysis but would emphasize to the requester that it was pending approval from higher up. I'd then reach out to someone else at my manager's level or higher to get their opinion on whether additional sign-off/review would be necessary. The interviewer who asked this question was kind of poker-faced but didn't seem too satisfied with that answer. Less
They were interested in technicals skills and products I worked on. The LTC area seemed to be an area where there was opportunity for someone with detailed expertise in pricing valuation and review of experience data.
1 Answers↳
Provided examples of more difficult situations that I had dealt with in areas of non forfeiture testing , product design in areas where there was more risk and volatility. They were very nice and professional. The lady from HR asked me what my ideal job and work environment was. I felt they were working in a good manner to ensure they got a good match. Less