GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Actuarial Terms

actuarial tableDefinition (Investments, Insurance, Financial-banking)
A table used in actuarial science that outlines the statistical probability that an individual of a specific age and sex will die within a year.
actuaryDefinition (Investments, Insurance, Financial-banking)
An individual who assesses the mechanisms, mathematics and complexities of risk and uncertainty.
age-adjusted mortality rate (AAMR)Acronym
age-standardized mortality rate (ASMR)Acronym
Casualty Actuarial Society (CAS)Company, United States
comparative mortality figure (CMF)Acronym
  ➥  Used in the study of occupational mortality.
crude mortality rate (CMR)Acronym
  ➥  Also known as Crude Death Rate.
infant mortality rate (IMR)Acronym
  ➥  Usually measured per thousand live births.
maternal mortality rate (MMR)Acronym
more or less (m/l)Abbreviation (Abbreviation)
  ➥  Approximately.
mortality and expense risk chargeDefinition (Annuities, Insurance)
A charge sometimes applied to reimburse an insurer for the risks in a policy.
mortality rateDefinition (Insurance)
A measurement of how many people in a particular population set and in a particular period of time die.
mortality rate doubling time (MRDT)Acronym
Variable derived from the Gompertz equation that determines the time required for a mortality rate to double.
mortality rate within 120 days (MR120)Acronym
perinatal mortality rate (PMR)Acronym
risk-adjusted mortality rate (RAMR)Acronym
  ➥  Predicted risk of death.
risk-standardized mortality rate (RSMR)Acronym
single monthly mortality (SMM)Acronym
  ➥  Used to estimate monthly rate of prepayments for a mortgage pool.
Society of Actuaries (SOA)Company Est.1889, United States
standardized mortality ratio (SMR)Acronym
ultimate mortality tableDefinition (Insurance)
A mortality table that does not include information from people who have been approved for life insurance recently.
unallocated loss adjustment expense (ULAE)Acronym
under five mortality rate (U5MR)Acronym
  ➥  From United Nations Children's Fund.
underlying mortality assumptionDefinition (Insurance)
A measurement of death rates that is used to estimate pension obligations and insurance premiums.

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