Do the Math! SMS Students Explore Actuary Sciences

Over 200 Grade 8 students have been introduced this week to what problems Actuaries solve.

SD83 Careers and The Canadian Institute of Actuaries (CIA) hosted the virtual event over two days at Shuswap Middle School.  For those who don’t know, Actuaries assess financial consequences of uncertainty and risk. They use mathematics, financial theory and statistics to assess the risk of potential events from fires and floods to vandalism and vigilantism. Business and Governments look to Actuaries to help them develop policies that minimize the cost of risk to them.

For one exercise, Actuaries had students work in groups to brainstorm ideas of what risks could they face if they were to open an ice cream shop. Students came up with many scenarios and issues to which one of the facilitators expressed how good the responses were coming from 12 and 13 year olds. The Actuaries then explained how you weigh the cost, frequency and extent of loss to each other to try to figure out what situation would worked best for those groups. The CIA members also talked about their road taken to become an actuary, the schooling needed in public school and post secondary, wages and benefits and how they are being used to help try and solve some of the world’s big issues like climate change.

The CIA will also make a virtual visit to Eagle River Secondary in Sicamous on Wednesday, March 6th where they will be talking with Grade 10-12 Math students about the opportunities in the profession. If you wish to learn more about this opportunity or if you have a good career exploration idea you would like SD83 to pursue, please contact District Career Education Coordinator George Richard via text or phone at 778-824-1188 or email grichard@sd83.bc.ca.