Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

Description: This is a perspective of the upcoming year from the view of the Chair of the Council of the TaxationSection. Following the challenges from the past year and since the arrival of the pandemic, I discussed how we will adapt to this new virtual or hybrid world and how the Taxation Section will continue to offer material to its members.

Description: An article discusses using response keypads for greater audience participation at presentations. This participatory tool allows speakers to assess how knowledgeable their audience is in a topic.

Description: Shapiro 1990 documented some of the criteria used by actuaries when selecting the assumptions for actuarial valuations. He noted, however, that many of these criteria are often were in conflict with one another. This paper uses expected utility theory to model this process of choosing actuarial assumption when faced with potentially conflicting criteria. The three criteria considered are prudence, best estimate and conservativeness.

Description: This article addresses how to best use body language to one's advantage

Description: Informal commentary on the importance to the actuarial community of embracing enterprise risk management and ORSA. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: Learning excellence is of value to both candidates and credentialed actuaries learning new areas. Learning mastery and excellence requires 1) use of executive function (EF), multiple brain areas, for example, verbal, formal (algebraic), computational, and geometric (rule of four), and 2) goal-setting, skillful breaking down of complex tasks into subtasks each of which are simultaneously 2a) clear and specific, 2b) achievable in a short time and 2c) challenging. 10 examples are presented illustrating use of the "rule of four" to achieve elegant solutions to otherwise complex problems as well as goal setting using fellowship-exam approaches, approaches to multi-component problems, and skillful use of databases as visual organizers. The material reflects a new approach to learning complexity that is easier to use than the pedagogic hierarchies and unifies them.

Description: Feature article highlighting readers’ responses to a previously published hypothetical workplace dilemma where unlocking assumptions resulted in an unexpected DAC writedown.