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DAV qualification

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DAV Qualification

The current education system of DAV with its examination regulations was introduced on 1 January 2018. The main objectives of the education system are to teach currently relevant mathematical knowledge and methods as well as non-mathematical knowledge concerning the professional work of an actuary. Another important aspect of the education system is the compliance with international standards, especially the Mutual Recognition Agreement (MRA) with the Actuarial Association of Europe (AAE) and the accreditation by the International Actuarial Association (IAA).

Admission to Education

The precondition to start education to qualify as an actuary DAV is a completed course of study in mathematics at a German university which can be replaced by equivalent qualifications in the case of a diploma or state examination. A Diploma in Physics, a Diploma in Statistics as well as the First State Examination for Secondary Level II in Mathematics are automatically recognised as equivalent to a Diploma in Mathematics. For Bachelor's and Master's degrees and for state examinations in modularised courses of study, proof of a completed course of study at a higher education institution in Germany and proof that knowledge of mathematics has been acquired to the extent specified by the Education Committee in accordance with the catalogue of learning objectives. This proof can be replaced by proof that at least 90 credit points have been earned in mathematical examinations according to the European Credit Transfer System - ECTS.

If these requirements are not met, an entrance examination in mathematics must be taken as the first examination.

Proof must also be provided that basic knowledge of stochastics has been acquired to the extent specified by the Education Committee in accordance with the catalogue of learning objectives. This proof can be replaced by proof that at least 30 credit points in accordance with ECTS have been acquired in stochastic examination achievements during the course of study.

If this knowledge in stochastics cannot be proven, the prospective actuary must take an entrance examination in stochastics before the DAV.

Both entrance examinations must take place before the examinations of basic and specialist knowledge.

Education to Qualify as an Actuary DAV

In order to qualify as an actuary DAV it is necessary to take ten different examinations and two mandatory courses. The examinations can be divided into the areas of basic knowledge and specialist knowledge.

Basic Knowledge

In the area of basic knowledge the examinations are

  • Economic and Legal Environment,

  • Applied Stochastics,

  • Financial Mathematics and Risk Assessment ,

  • Insurance Mathematics,

  • Modelling and ERM,

  • Corporate Management.

Additionally the mandatory courses in "Communications" and "Professionalism" need to be completed.

Specialist Knowledge

Supplementary four examinations in the area of specialist knowledge have to be chosen in order to complete the education as an actuary DAV. 

Two of the four examinations in the area of specialist knowledge need to be selected from the following seven specialisations 

  • Life Insurance 1 and 2 (two exams) or

  • Health Insurance 1 and 2 (two exams) or

  • Pensions 1 and 2 (two exams) or

  • Casualty Insurance 1 and 2 (two exams) or

  • Finance 1 and 2 (two exams) or

  • Building Society Savings 1 and 2 (two exams) or

  • Enterprise Risk Management 1 and 2 / CERA Modules A and B (two exams) or

  • Actuarial Data Science 1 and 2.

Besides the two examinations in the chosen specialisation another two examinations need to be taken in the area of specialist knowledge. These additional examinations can be selected from the mentioned above specialisations, but don't have to be from the same field of specialisation.

  • Life insurance 1
  • Life insurance 2          
  • Health Insurance 1     
  • Health Insurance 2   
  • Pensions 1
  • Pensions 2
  • Pensions 3
  • Casualty Insurance 1
  • Casualty Insurance 2
  • Finance 1
  • Finance 2
  • Building Society Savings 1
  • Building Society Savings 2
  • Enterprise Risk Management 1 / CERA Modules A
  • Enterprise Risk Management 2 / CERA Modules B
  • Enterprise Risk Management 3 / CERA Modules C
  • Actuarial Data Science 1
  • Actuarial Data Science 2
  • Actuarial Data Science 3

To become a member of DAV three years of actuarial work experience are necessary, of which at least two years must have been gained in the selected area of special knowledge.

Recognition of University Courses

For the examinations in the area of basic knowledge exemptions are possible if an equivalent examinations has been taken at university. University professors can apply at DAV to become professors of trust. A professor of trust is permitted to certify that a university course is equivalent to a DAV examination. All three years a professor of trust is obligated to document for the examination board of DAV that a certificated course is really equivalent to a DAV exam. The documentation has to include the lecture notes and exams written in the past. After three years a professor of trust needs to be appointed again.

All examinations in the area of specialist knowledge can only be taken at DAV. There are no exemptions for university courses.


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Contact

If you have any questions regarding the DAV qualification please contact:

Nadine Kolodziej
nadine.kolodziej@aktuar.de
+49 221/912 554-227

DAV Exams in English?

Please note that all examinations and preparatory courses (as well as the corresponding lecture notes) of the DAV education are only available in German language. You can find more information at the German website.

Further Information

For all prospective actuaries who register with the DAV for training as of 1 January 2018, the following applies

Examination Regulations 4.0

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