I presented some "quality of life" indicator numbers is a recent post, comparing North Korea to South Korea, and the United States. As a recovering actuary, such activities can be lethal, leading one back down the slippery slopes of numerology, pathology and misanthropy. Reducing masses of socio-economic data to averages makes it easier to ignore the pathetic plights of the poorest and to be blind to the obscene opulence of the wealthiest. But, actuaries do this, and some of their work affects and afflicts public policy.
I never thought too much about what I did during my actuarial student days. The money was great. I got paid to pass multiple choice tests! Multiple choice tests you could pass answering only 39 out of 75 questions. Multiple choice tests you could Bo Derek answering a mere 39 out of 75 questions. (Actuarial exams a graded on a "normalized" curve, from zero to ten. A score of six or higher is passing. One does not mind getting a zero, at least one did not waste much time. The dreaded number is five. I never scored any fives. LOTS of sixes, several zeros, one eight and a couple of sevens. Numbers. My life. Sheesh, I'm boring.)
The passage of ERISA in 1974 created a lot of additional employment opportunities for actuaries. ERISA was developed in response to abuses in the pension fields. Abuses by the powerful against hard working people. So much has changed since back in the day. NOW I understand why there are only six actuarial exams instead of ten. To become and Enrolled Actuary, one must pass two actuarial examinations
