Description: The article summarizes the SOA survey conducted of risk professionals regarding their understanding of important risk terms. The results contain perceptions by individuals and also firm-level information. Survey responses clearly demonstrated high differences in risk definitions.

Description: This is the first article in the new "Fireside Chat" series which intends to honor highly accomplised academic actuaries and allow them to share their insights into academic careers with young scholars. This article is mainly based on an interview with Dr. Edward Frees (Jed), one of the most accomplished actuarial professors.