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What is an actuary? "Through their knowledge of statistics, finance, and business, actuaries assess the risk of events occurring and help create policies that minimize risk and its financial impact on companies and clients. One of the main functions of actuaries is to help businesses assess the risk of certain events occurring and formulate policies that minimize the cost of that risk." - Bureau of Labor Statistics Who can earn the minor? The minor is open to students in all majors, though it is most beneficial if the student is a College of Business or College of Science (statistics, mathematics, or economics) major due to the courses required for the minor.