Actuarial control cycle

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The actuarial control cycle is a specific business activity which involves the application of actuarial science to real world business problems. The actuarial control cycle requires a professional within that field (i.e., an actuary) to specify a problem, develop a solution, monitor the consequences thereof, and repeat the process.^[1] The Society of Actuaries in the US, and the IFoA in the UK is increasingly integrating the actuarial control cycle into the examination/qualification process as a framework that helps to define actuarial projects.