Description: This article from The Actuary, April 1971, volume 5, Issue 4 talks about an exposure draft. The Exposure Draft of the American Institute of Certified Public Accountants on Audits of Life Insurance Companies has not apparently had among actuaries the wide circulation it deserves, judging by the relatively few responses to Robert Winters letter in the February issue of The Actuary. This is a most important document because it affects not only the accounting practices of life insurance companies but also the status of the actuarial profession.

Description: It was Santayana who said that those who do not remember the past are condemned to relive it. So in order to protect our present and future readers we will report a segment of actuarial history which may not be well known. Our readers will make their own judgments and maybe the Program Committee will find the recital of some help.

Description: Actuarial Humor

Description: Adlai Stevenson is reported to have described the duties of an editor as separating the wheat from the chaff and throwing away the wheat. Perhaps this emphasis on the chaff is one reason why we have frequent difficulties in determining the actual month of issue. On the other hand, the editors ally themselves with Jack Point who said “O winnow all my folly and you’ll find a grain or two of truth among the chaff.”

Description: Comments on intriguing and amusing newspaper items which touch on technical fields.

Description: article about humorous actuarial stereotypes