Actuary Interview Questions UK: 8 Real Questions and What Interviewers Want

Most Actuary interviews in the UK follow a pattern, and knowing it beats guessing. Below are eight questions from our bank of 16, each with a note on what the interviewer is really after.

Eight Actuary interview questions, and what the interviewer is thinking

1. What does your work as a qualified actuary involve day to day, and what drew you to this profession?

Why they ask: They want to understand how you see your role and whether your motivation fits the work of this team.

2. How would you set claims reserves for a general insurance portfolio, and how do you choose between methods?

Why they ask: Reserving is the core technical competence and they need to see sound judgement, not just method knowledge.

3. Explain how insurance contracts are measured under IFRS 17, and what the contractual service margin represents.

Why they ask: IFRS 17 is now embedded in insurer reporting and every senior actuary is expected to understand it.

4. What are technical provisions under Solvency UK, and how did the reforms change the risk margin?

Why they ask: They want to check you know the current regime rather than legacy Solvency II material.

5. How do you set and challenge key assumptions such as mortality, lapses or expenses, and how often do you review them?

Why they ask: Assumption setting is where actuarial judgement has the biggest financial effect.

6. Your analysis shows reserves need strengthening, but management wants to hold them flat to protect this year's result. What would you do?

Why they ask: This tests your professional integrity and ability to withstand commercial pressure.

7. Tell me about a time you had to explain actuarial uncertainty to a board or other non-actuarial decision-makers.

Why they ask: Senior actuaries are valued for turning complexity into decisions that others can trust.

8. What do the Technical Actuarial Standards require, and how does peer review fit into your work?

Why they ask: Compliance with professional standards is a non-negotiable for a qualified actuary.

A sample answer to question 1

What does your work as a qualified actuary involve day to day, and what drew you to this profession?

My work centres on turning uncertainty into numbers that the business can act on. In practice that means running and reviewing reserving or valuation analysis, setting and challenging assumptions, explaining movements in results, and supporting capital, pricing or reinsurance decisions. A good part of my week goes on communicating, for example preparing papers for the reserving committee and talking through findings with finance, underwriting and the board. I also review the work of less experienced colleagues and make sure the work complies with the Technical Actuarial Standards. What drew me to the profession was the mix of rigorous mathematics and real commercial judgement: models never give a single right answer, so the skill is in understanding what drives the results, being honest about the limits, and giving advice that helps decision-makers. Qualifying as a Fellow of the Institute and Faculty of Actuaries also gave me a professional framework of ethics and standards that I value.

Common mistake to avoid: Describing only calculations; ignoring professional duties

Want the rest?

Full model answers, key points and common mistakes for all 16 questions are on the Actuary interview questions page. The first five are free, no sign-up needed.