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Introduction to actuarial science
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In 2015, I was selected to represent Lasswade High School at the annual Enterprising Mathematics Challenge. In a team of four pupils we explored maths in the real world, created a presentation on buoyancy and solved maths problems in various activities. As the highest scoring team in Midlothian, we attended the final held at the Glasgow Science Centre in November during which a talk from an actuary sparked my interest in actuarial science. The opportunity made me realise that I could combine my love for both mathematics and actuarial science in the future.
I have always had an affinity with maths, especially the application of maths in real-life problems. Consistently scoring the highest in my school in the UKMT maths challenges for the past three years and my participation in STEM demonstrates my passion for the subject. The self-confidence this encouraged provoked my pursuit in the application of maths and so I independently organised a work experience placement at the Royal Bank of Scotland (RBS) in fourth year.
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During this placement I saw firsthand how maths is central to the work of Financial Advisors and Bank Tellers. I was given various responsibilities such as handling cash and fast cash, taking and making coin orders and cashing in cheques. I enjoyed applying my maths skills outside of the classroom. Also, shadowing Financial Advisors further widened my understanding of banking. Observing customer review meetings developed my problem solving skills and improved my own communication and social skills as I applied these when serving
The following assignment shows the progress I have made throughout unit EDC141: The Numerate Educator. Included are results from the first and second round of the Mathematics Competency Test (MCT). Examples from assessment two, which, involved me to complete sample questions from the year nine NAPLAN. I was also required to complete a variety of ‘thinking time problems’ (TTP’s) and ‘what I know about’ (WIKA’s). These activities allowed me to build on my knowledge and assisted me to develop my mathematical skills. The Australian Curriculum has six areas of mathematics, which I used in many different learning activities throughout this study period (Commonwealth of Australia, 2009). These six areas will be covered and include number, algebra,
Steen, Lynn Arthur . "Integrating School Science and Mathematics: Fad or Folly?." St. Olaf College. (1999): n. page. Web. 12 Dec. 2013..
Maths is a tool needed for everyday life and it is a way of helping children to understand the concepts of the world around them. Using the programmes of study from the National curriculum and the EYFS curriculum for numeracy, Washingwell Community Primary school aim:-
My first opportunity to use math outside the academic world was in my part time job with United parcel Service. It was an eye-opener for me in that mathematical techniques, in combination with computers, could be used for solving very complicated real-life problems, such as predicting and controlling the continuos flow of 300 million packages per day. I was deeply impressed by the numerical masterpieces of Jim Gilkinson and Dick Marga, the project managers. They led the way in showing how one could overcome some serious limitations of computers for solving linear systems of equations.
Even though I received “satisfactory” grades in Calculus III and IV, the compassionate Graceland University faculty helped me recalibrate. From an early age I knew that I wanted to pursue a Ph.D. in mathematics, but my instructors’ patience and wisdom inspired me to become a mathematics professor. In addition to providing a supportive environment for my future students, I wish to encourage them to seek a life of curiosity and learning. Since my decision to pursue a Ph.D. in mathematics, I have accumulated academic experiences that will provide a stable foundation for my future.
Junior Achievement taught me the importance of innovation and problem skills and fed my love for business. The summer before starting A levels at Cayman Prep, I also participated in the inaugural United World Colleges ‘Towards a Sustainable Future’ Short Course and ‘Rotary Youth Leadership Award’. I am also a Student Council representative, Key Club member and a member of the Duke of Edinburgh Award. My constant involvement in academics, sports and the community did not go unseen as I received the ‘Proud of Them Award’ for the categories Academics, Community Service and Sports and you can find my picture plastered on a billboard in Bodden Town, inspiring my
After hours of independently researching the field of Actuarial Science, I contacted Mr. Michael Miller. Mr. Miller is the Director of Insurance Pricing at Catlin Inc., a private insurance company in Atlanta, Georgia. With a Masters of Science in Mathematics and classification as a Fellow of Casualty Actuarial Society, Mr. Miller has thrived in the field of Actuarial Science for twenty years. He has even achieved the position of President of the Casualty Actuarial Society of the Southeast.
Finance is looked upon as a true technical and analytic subject by outsiders, and even by some insiders, but is it only just that? Does the finance professionals prefer to be seen as true math geniuses, when in reality luck has played a way bigger role in their successes? How do biases, probabilities, habits, our mind and other disciplines factor in? How about luck? Not only is the financial sector truly a summation of those factors, but other sectors and aspects of our daily lives are also subject to those forces. While we may not always understand how the world is shaped around us, reading the 5 books provides a way to be an outsider in our own discipline, how great! Through Hagstrom, Kahneman, Taleb, Haidt, and Duhigg, there is a very real
The commitment and hard work of my Mathematics department was recognised by the County Advisory Service who allocated further funds to share our good practice as an aspiring lead department for Assessing Pupil Progress. In my final year at Chatsmore I also had experience as part of the Extended Leadership Team with responsibility for whole school timetabling. This led me onto successfully applying to become Assistant Headteacher at Worthing High
By choosing a mathematical related profession, people are taught patience, discipline and step-by-step problem solving skills (math.ucdavis.edu/~kouba/MathJobs.html). Mathematics are used in everyday life and desirable careers, such as an actuary, an accountant, math teacher, financial
Nevertheless, I have had a substantial amount of in-class research experience, the most considerable being a final project in Introduction to Math Modeling. For this final project, I constructed a stochastic probabilistic model to analyze U.S. catastrophe insurance claims incurred from winter, wind, and thunderstorms. Utilizing Monte Carlo simulations, I developed a Poisson distribution to estimate the frequency of catastrophic events and a lognormal distribution to model the aggregate losses associated with each event. This final project culminated in an unpublished paper and presentation, earning me an A in the
I am a person who has always had a profound passion and fascination for areas requiring an analytical approach. Right from early days at school, Mathematics has intrigued me. The most challenging of all problems were my favorites and obtaining solutions to them would leave me with a sheer feeling of ecstasy. I always did and always would thrive on solving the most challenging problems. With a compelling desire to excel, hard work became my second nature. My aspiration for a technical career prompted me to take up one of the most coveted undergraduate program in Computer Engineering at SR Engineering College, the best of such institutions. My own systematic & methodical towards finding a solution to any problem best suits this field.
For example, dancers have to eventually go on tour. Mathematical proficiency is needed because one will have to plan accordingly to know what materials they need and how to pack them with limited space. This is a skill of great vitality because, ultimately, what the dancer puts into their body will determine how they end up performing with their company. The way the dancer performs is ultimately sums up their career, which is ultimately the make or break for if the dancer continues to have their job. The math that lies in the touring of a professional dancer is ultimately by analyzing the weight limit of their luggage, the conscious balancing doses of essential medicines that dancers need, and the ability to read weather charts of their destinations so they can know what clothes that they should wear when they travel.
When I graduated from high school, forty years ago, I had no idea that mathematics would play such a large role in my future. Like most people learning mathematics, I continue to learn until it became too hard, which made me lose interest. Failure or near failure is one way to put a stop to learning a subject, and leave a lasting impression not worth repeating. Mathematics courses, being compulsory, are designed to cover topics. One by one, the topics need not be important or of immediate use, but altogether or cumulatively, the topics provide or point to a skill, a mastery of mathematics.
Through out my life, nothing has ever fascinated me like the application of mathematics in real life situations. In real life, the application of mathematics acts as a foundation from which economics progresses as it offers a person with different knowledge on how they are supposed to carry out different life applications. Mathematics offers an individual with the right differentiation skills that are highly required in making different calculations of elasticity coefficients that are applied in different sectors of the world. My greatest inspiration in the application of mathematics in real life experience has been “ The Pleasure of Counting”. By T. W. Korner’s. Through the work of Korner, I have been enabled to increase the rate to which I apply the mathematical knowledge that I have acquired over the years to real world situations. Some of the areas that I have increasingly applied my mathematical knowledge includes in the economics as well as in the field of finance. The application of mathematics in this filed has contributed towards my critical thinking and analytical skills progress.