Prerequisites for the Master of Financial and Actuarial Engineering

Mathematics

Derivatives ● integrals ● functions ● limits ● differential equations ● algebra ● vector operations (scalar
product, vector product, …) ● solving a system of equations ● recursions● matrix algebra ● determinants
● eigenvalues and eigenvectors.

Probability Theory

Probability laws and probability spaces ●random variables ●distribution functions ●density functions ●
discrete and continuous distributions ● expected values, variances and higher moments ● asymptotic
laws for random variables ● moment generating functions ● functions of random variables ●
multivariate distributions ● dependent random variables ●correlations

Statistics

Descriptive statistics ● estimators for the mean, variance,… ● confidence intervals ● testing of
hypotheses ● simple econometric models (linear regression with one or more independent variables).

ICT

Basic programming skills to write simple functions (e.g. R, Matlab, SAS, Excel) ●simulation ● handling
data sets (reading data using statistical software).

Insurance and risk management

Valuation of classical life insurance products ●calculation of reserves in life insurance

Economics

Prerequisites are not necessary but can be an asset.

Law

No prerequisites necessary.