Will data science replace actuarial science
The position of the courses in the training for the actuary DAV
As part of the harmonization efforts of the International Association of Actuaries (IAA), the DAV, as an institutional member of the IAA, has committed itself to adapting the training for DAV actuaries to the requirements of the IAA. 2006 therefore stepped in for membership in the DAV Examination regulations (PO III) in force, which prescribes 12 subjects. Since then, the examination regulations and the catalog of learning objectives have been revised several times. Most recently on 01.01.2013 on PO III-4.
To the 01.01.2018 entered a new one Examination regulations PO 4.0 in force. With this, the DAV offers a new structure for training to become a DAV actuary (see here). The aim of the new training is to prepare the actuaries for the changed work environment caused by Solvency II, increasing digitalization and the new challenges of risk management. In addition, the international comparability and recognition of German training is simplified.
As Entry requirements A degree in mathematics (in Germany) and basic knowledge of stochastics and statistics are required for training as a DAV actuary.
- People without a mathematical or an equivalent university degree must take a mathematical admission test at the DAV
- People without sufficient basic knowledge of stochastics and statistics have to take the admission test in stochastics
Adjustment of the teaching texts to the learning content PO 4
In some subjects of PO No. III and PO No. 4 there are significant overlaps in content. In these subjects, the learning content of the subjects of PO No. III was aligned with the learning content of the corresponding subjects of PO No. 4.
We have ours Teaching texts Revised with regard to the modified learning objectives according to PO 4.
- Modeling for modeling and ERM, for the winter semester 2018/19
- Insurance economics on the economic and legal environment, for SS 2019
- Stochastic risk modeling for applied stochastics, since winter semester 2019/20
- Financial mathematics and investment management on financial mathematics and risk assessment, for SS 2019
- Non-life actuarial mathematics for the technical part in actuarial mathematics, for SS 2019
- Value and risk-oriented corporate management to corporate management for the winter semester 2020/21
Since then, all courses have been based on the new contents of PO 4 of the DAV, but do not yet cover them 100% in individual subjects. We recommend the DAV guidelines for the respective subject for the sections shown.
The subjects according to PO 3
|Basic actuarial knowledge||Framework conditions for actuarial work|
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The subjects are in total 9 basic knowledge module exams checked in spring (beginning / middle of May) and autumn (beginning / middle of October). Most exams are only offered once a year.
For the subjects of “Vocational Studies”, “Legal Basis for Actuaries” and “Information Processing”, proof of attendance of a corresponding compulsory DAA seminar must be provided, but no examination must be taken.
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