About the test
The Actuary Pre-Employment Assessment was designed to help you hire staff in this role. The test provides a whole-person evaluation by measuring job-relevant cognitive ability, personality, knowledge, skills, and relevant behavioral history.
Each component provides important data for hiring decisions. Cognitive ability has been linked to overall job performance in most jobs and correlates with a candidate's
ability to learn new skills and to solve complex problems. Personality characteristics determine how well the candidate will fit-in with a corporate culture. Knowledge and skills indicate how much training will be needed before a new employee becomes productive. Finally, relevant behavioral history detects counter-productive behaviors that can impact job performance.
The Actuary test includes an animated work simulation in which candidates meet customers, colleagues and supervisors in a job-related context. Post-test surveys indicate the majority of candidates react favorably to these simulations.
This test also contains an automatically-scored essay component. Writing is a key skill for many jobs and also demonstrates the ability to generate, organize, and communicate relevant ideas effectively.
The specific attributes measured include:
Cognitive Ability
- Analytical Thinking and Attention to Detail
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Knowledge and Skills
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Personality
- Adaptability
- Drive
- Integrity
- Resilience
- Teamwork
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Emotional Intelligence
- Empathy and Emotional Self-Control
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Behavioral History
- History Survey - Performance
- History Survey - Tenure
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Following completion, the test produces a Candidate Selection Report that includes an overall score and detailed scores for each attribute. The overall score weighs each of the factors based on research and analysis from the U.S. Government's Occupational Information Network (O*Net). O*Net represents over a decade of dedicated research evaluating the relative importance of various factors that lead to success in almost 1,000 different job roles.
The Candidate Selection Report also provides expert interview questions that help you probe critical or low-scoring areas, along with a guide for noting your evaluation of the candidate's responses. Consistent use of an interview guide is an important part of gaining better candidate insights and making better hiring decisions.
About the job
Actuary
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
Top activities and tasks for this job:
- Analyzing Data or Information
- Processing Information
- Working with Computers
- Getting Information
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Making Decisions and Solving Problems
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
More information about this Job
Annual US Wages (2023) |
Bottom 10%: | | $75,380 or less |
Bottom 25%: | | $88,420 or less |
Median: | | $120,000 (Average) |
Top 25%: | | $164,320 or more |
Top 10%: | | $209,310 or more |
US Employment Statistics |
2023: | | 30,200 |
2033 (projected): | | 36,800 |
Annual U.S. Job Openings: | 2,200 |
Top Knowledge Requirements
- Mathematics
- Computers and Electronics
- Economics and Accounting
- English Language
- Law and Government
- Administration and Management
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Top Skills
- Mathematics
- Critical Thinking
- Judgment and Decision Making
- Reading Comprehension
- Active Listening
- Systems Evaluation
- Complex Problem Solving
- Speaking
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Top Abilities
- Mathematical Reasoning
- Inductive Reasoning
- Number Facility
- Written Comprehension
- Oral Expression
- Written Expression
- Oral Comprehension
- Deductive Reasoning
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Education Requirements |
Bachelor's Degree: | | 79% |
Post-Baccalaureate Certificate: | | 11% |
Professional Degree: | | 11% |
This graphic shows the percentage of people in this role who have their highest education in each category. |
Related Work Experience Requirements |
None: | | 50% |
1 - 3 Months: | | 14% |
3 - 6 Months: | | 11% |
6 Months - 1 Year: | | 7% |
1 - 2 Years: | | 7% |
4 - 6 Years: | | 4% |
6 - 8 Years: | | 4% |
8 - 10 Years: | | 4% |
This graphic shows the percentage of people in this role whose related work experience before they entered this position falls into each category. |
Alternate Titles for this Role: Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuarial Intern, Actuarial Mathematician, Actuarial Specialist, Actuary, Annuity Analyst, Consulting Actuary, Corporate Actuary, Enrolled Actuary, Forecast Analyst, Health Actuary, Insurance Actuary, Life Actuary, Pricing Actuarial Analyst, Pricing Actuary, Product Development Actuary, Reserving Actuary
Related Jobs based on Skills & Abilities: Personal Financial Advisors, Compensation, Benefits, and Job Analysis Specialists, Accountants and Auditors, Insurance Underwriters, Statistical Assistants, Insurance Sales Agents, Financial Examiners, Financial Managers, Investment Fund Managers, Financial Quantitative Analysts, Management Analysts, Securities, Commodities, and Financial Services Sales Agents, Economists, Credit Analysts, Compensation and Benefits Managers, Business Intelligence Analysts, Statisticians