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).
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.
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.
In the area of basic knowledge the examinations are
Economic and Legal Environment,
Financial Mathematics and Risk Assessment ,
Modelling and ERM,
Additionally the mandatory courses in "Communications" and "Professionalism" need to be completed.
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
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.
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.
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.
If you have any questions regarding the DAV qualification please contact:
Tim Kampmanntim.email@example.com+49 221/912 554-131
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.
For all prospective actuaries who register with the DAV for training as of 1 January 2018, the following applies
Examination Regulations 4.0
Become an actuaryMembership informationInternational involvement
Annual meetingsAutumn meetingsICA 2018
Practice areasThe European ActuaryEuropean Actuarial Journal