(Partial) recognition of examination subjects for actuarial education

The German Actuarial Association (DAV) regulates the examination modalities for the actuarial training. A detailed description of the requirements and objectives can be found here.

Of the total six subjects of basic knowledge, they can in principle cover in their studies at TUM:
(i) Applied Stochastics,
(ii) Financial Mathematics and Risk Assessment, and
(iii) Actuarial mathematics.

As of the current status (March 2023), the following lectures are sufficient for credit for the Financial Mathematics and Risk Assessment module: Financial Mathematics 1 and 2, Fixed Income Markets, and Quantitative Risk Management. Students of the old examination regulations need: Portfolio Analysis, Discrete Time Finance, Continuous Time Finance, Fixed Income Markets, and Quantitative Risk Management.

Unfortunately, we are currently unable to fulfill the requirements for "Applied Stochastics" despite the numerous lectures in this area.

For "Actuarial Mathematics" you currently (as of September 2021) need the lectures Actuarial Mathematics 1 and Actuarial Mathematics 2. Alternatively, you can bring in the older modules Actuarial Mathematics for Pensions, Actuarial Risk Theory, Life insurance, Non-life insurance, Private Health Insurance Mathematics.

In addition, it must be proven that basic knowledge in stochastics has already been acquired at the university. Sufficient for this are (as of September 2021) the modules Analysis 3, Introduction to Probability Theory and Statistics as well as Probability Theory (or equivalent lectures). These must be documented by a corresponding certificate from the university. All statements made here are always subject to a different assessment by an expert committee of the DAV.

Detailed information on the learning content can be found here: Learning Objectives in Basic Knowledge. As can be seen from the learning objectives, you will need a combination of lectures from TUM to fulfill the extensive requirements. Also, some content is covered in several TUM lectures, so there is no one-to-one relationship between lectures to be attended and the subjects of Basic Knowledge.

The DAV statutes for liaison lecturers state: "For achievements at their own university in non-professional courses of study, liaison lecturers determine the creditability of university courses for examination subjects of the basic knowledge of the DAV according to § 11 (1) a) of the examination regulations."

It is important to note that we may only recognize lectures that:
a) Have been heard at TUM, or (only exception).
b) have been heard at another German university which on the one hand has accredited this lecture for the DAV (this is e.g. the LMU) AND you have had this lecture recognized as a module examination for your Master at the TUM. The lecture applied for recognition must therefore be listed in your TUM Transcript of Records.