# Actuary

*Insurance — Finicade finance glossary*

An actuary applies statistics and finance to price and reserve for uncertain future events — deaths, claims, pension liabilities. It's one of the oldest quantitative professions and among the most heavily examined, typically taking six to ten years of exams to qualify. Their central output is a reserve: the amount that must be held today so that future obligations, whose timing and size are unknown, can still be met.

**Also known as:** actuarial science, actuarial valuation

**Related terms:** [Mortality Table](https://finicade.com/glossary/mortality-table), [Underwriting](https://finicade.com/glossary/underwriting), [Longevity Risk](https://finicade.com/glossary/longevity-risk), [Probability](https://finicade.com/glossary/probability), [Pension (Defined Benefit Plan)](https://finicade.com/glossary/defined-benefit-pension)

Source: https://finicade.com/glossary/actuary