Definition

A data wizard who calculates the probability of catastrophe and puts a price tag on it—essentially a professional pessimist armed with spreadsheets who determines insurance premiums and pension obligations.

Example Usage

The insurance company hired an actuary to reassess their risk exposure after the natural disaster.

Source: Merriam-Webster via Free Dictionary API

Related Terms

Intermediate

fallen angel

A bond that once held investment-grade status but has been downgraded to junk status, usually due to deteriorating business conditions. Pride comes before a fall, and so does credit rating.

💰 Finance / Accounting
Intermediate

internal controls

Processes and procedures designed to prevent fraud, errors, and general financial chaos within an organization. They're like locks on doors—ineffective if someone with a key decides to rob the place, but they keep honest people honest.

💰 Finance / Accounting
Beginner

P&L (Profit & Loss Statement)

Same as an income statement but sounds more ominous—what everyone actually calls it because it's faster to say.

💰 Finance / Accounting
Intermediate

bonds

An IOU from a company or government saying 'we promise to pay you back with interest, assuming we don't go bankrupt.' It's the grown-up version of asking your parents for a loan, except with legal documentation and the terrifying possibility of total loss.

💰 Finance / Accounting
Beginner

Operating Expense

The costs of running your business that aren't directly tied to production—salaries, rent, and executive compensation.

💰 Finance / Accounting
Intermediate

multiple

In finance, it's the magical number you get when dividing a company's stock price by its earnings—the higher the multiple, the more investors believe in fairy tales about future growth. Also known as the P/E ratio, it tells you how many years of current profits you're paying for today. Basically, it's the market's way of saying 'trust me bro' with numbers.

💰 Finance / Accounting

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