Sentences with phrase «actuarial method»
The phrase "actuarial method" refers to a mathematical technique used by actuaries to analyze and predict risks associated with future events, such as mortality or financial losses. It involves using statistical data and probability to make calculations and estimates, which helps insurance companies and other financial institutions determine appropriate premiums or reserves. Full definition
Probation reports use actuarial methods to predict risk of reoffending i.e. they look at the offender as one example of a category of offenders.
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When an individual retires under a DB plan, she is entitled to a stream of payments that has a lump - sum value that we calculate using standard actuarial methods (which take into account expected mortality patterns and adjust the sum of payments to reflect the fact that they are received over many years rather than at a single point in time).
Each year, LAWPRO staff track claims patterns and apply actuarial methods to re-evaluate the assumptions underlying risk - rating decisions.
Successfully added actuarial method of interest to the New Jersey Actuarial Amortization report for projected and actual options.
Conversely, when a teacher retires under a DB plan, she is entitled to a stream of payments that has a lump - sum value (or present value) that can be readily determined using standard actuarial methods.
Regulation Z, better known as the Truth in Lending Act, accepts both the actuarial method of calculation and the United States Rule method.
The actuarial method accounts for compounding interest, while the US Rule Method does not.
Most lenders rely on the actuarial method, which follows a clear formula defined by the law.
If a mortgage with a long first period relies on an APR calculated by the actuarial method, then the extra compounding may cause the first interest payment to be larger than the actual scheduled payment, resulting in negative amortization.
4) Rebates of interest upon default calculated by any method less favorable than the actuarial method.
6) Most prepayment penalties, including refunds of unearned interest calculated by any method less favorable than the actuarial method.
I keep coming across the terms «simple interest» and «actuarial method».