DEFINITION of 'Actuarial Science '. A discipline that assesses financial risks in the insurance and finance fields using mathematical and statistical methods. Actuarial science applies the mathematics of probability and statistics to define, analyze and solve the financial implications of uncertain future events. Traditional actuarial science largely revolves around the analysis of mortality and the production of life tables, and the application of compound interest. Next Up.
The result is a smaller difference between high and low tides and is known as a neap tide. Neap tides are especially weak tides. They occur when the gravitational forces of the Moon and the Sun are perpendicular to one another (with respect to the Earth). Neap tides occur during quarter moons.
Ocean tides are caused by the gravitational interaction between the Earth and the Moon. There are two high tides and two low tides each day. During New Moon and Full Moon the difference between high and low tides is more extreme. Those are called spring tides. During First Quarter and Last Quarter phases of the Moon the difference between high and low tides is less extreme. Those are called neap tides.