1. Subject matter of the contract
These General Terms and Conditions for services provided by the European Institute of Quantitative Finance (hereinafter: EIQF) govern the provision of services within the framework of the “Certified Financial Engineer” programme.
The provider of the programme is EIQF, which is responsible for the academic direction.
The contracting parties are EIQF and the participants admitted to the examination.
2. Registration, conclusion of the contract
Registration to participate in the programme may be made in writing by letter or online by completing and submitting the registration form by the participant. The contract is concluded upon receipt of a registration confirmation from EIQF.
3. Services
(1) Regardless of whether the “Academic Excellence” or “Professional Excellence” track is chosen, the programme participant will receive at least the following services from EIQF:
- Personal support from the lead professors
- Feedback on learning progress
- Access to the Campus of Financial Engineering
- The case studies “Financial Engineering with Options and Futures as well as in Risk Management”
- Excel files for the case studies
- The chapter “Options and Futures” in the course book “Financial Modeling” as an eBook
- The Excel models for the chapter “Options and Futures” in the course book “Financial Modeling”
- The Certified Financial Engineer toolbox for options and futures
- Additional supplementary materials on the topic of “Financial Engineering”
- Certificate: Certified Financial Engineer
- Award: Representative certificate
Depending on whether the “Academic Excellence” or “Professional Excellence” track is chosen, the programme participant will additionally receive:
- Option to apply for an EIQF scholarship for non-students (if the “Professional Excellence” track is chosen).
- Participation in the initial examination of the respective module (Academic Excellence) or up to three possible submissions per sub-module (if the “Professional Excellence” track is chosen)
- University certificate, Certificate Supplement, and the option to submit for recognition of ECTS credits in bachelor’s and master’s degree programmes (if the “Academic Excellence” track is chosen)
(2) After passing the examinations listed in the examination regulations, EIQF awards the title “Certified Financial Engineer” and issues the corresponding certificate.
(3) The title “Certified Financial Engineer” is awarded by EIQF. The holder of the title may not make any modifications to the use of the title. In the event of non-compliance, third parties (e.g. other education providers) may assert claims against you. EIQF reserves the right to change the title “Certified Financial Engineer” at any time and, in the future, to award a different title upon passing the corresponding examinations. A participant who has already been awarded the title “Certified Financial Engineer” has the one-time right to continue using the old title or to use the new title. Any further claims against EIQF are excluded.
(4) Resit examinations are governed by the examination regulations.
4. Fees
Track 1: If you choose the “Professional Excellence” track, the following applies:
1) Course fees for professionals
You may apply to EIQF for a scholarship. If you are awarded one, the course fees for the “Certified Financial Engineer” are with scholarship EUR 1,995.00 plus the applicable statutory VAT, currently 19%, i.e. a total of EUR 2,374.05. The course fees for the “Certified Financial Engineer” are without scholarship EUR 3,995 plus the applicable statutory VAT, currently 19%, i.e. a total of EUR 4,754.05. These overall packages include the course fees, the examination fees, and the materials listed under 3 (1).
2) Course fees for students
Students (please enclose a copy of a valid student ID with the registration) receive a discount. The course fees for students are EUR 1,256.30 plus the applicable statutory VAT, currently 19%. Thus, a total of EUR 1,495.00. This overall package includes the course fees, the examination fees, and the materials listed under 3 (1).
3) Resit examination
Each module consists of three sub-modules. Each sub-module may be repeated twice. No additional costs are incurred for a resit examination.
Track 2: If you choose the “Academic Excellence” track, the following applies:
1) Course fees
The course fees for the “Certified Financial Engineer” are EUR 3,995 plus the applicable statutory VAT, currently 19%, i.e. a total of EUR 4,754.05. This overall package includes the course fees for Modules 1 and 2, the examination fees for Modules 1 and 2, the materials listed under 3 (1), as well as the issuance of a university certificate and Certificate Supplement for the acquisition of ECTS credits.
2) Course fees for students
Students (please enclose a copy of a valid student ID with the registration) receive a discount. The course fees for students are EUR 1,508.40 plus the applicable statutory VAT, currently 19%. Thus, a total of EUR 1,795.00. This overall package includes the course fees for Modules 1 and 2, the examination fees for Modules 1 and 2, the materials listed under 3 (1), as well as the issuance of a university certificate and Certificate Supplement for the acquisition of ECTS credits.
3) Resit examination
For a resit examination due to failing the examination, EIQF charges an examination fee of EUR 295 plus the applicable statutory VAT, currently 19%, i.e. a total of EUR 351.05.
4) Issuance of a university certificate
The university certificate and the Certificate Supplement are associated with the acquisition of ECTS credits. The issuance of a university certificate (certificate and Certificate Supplement) by HfWU is included in the fee for the overall package.
5. Payment terms, default, termination
(1) With the registration confirmation, EIQF will send the customer the invoice for the examination fee. EIQF invoices are due immediately upon receipt without deduction and must be paid within two weeks of the due date.
(2) Only participants who have paid the examination fee will be admitted to the examination.
(3) In the event of non-timely payment of the examination fee, EIQF is entitled to terminate the contract.
(4) Failure to achieve the educational objective (e.g. failing examinations) does not entitle the participant to a reduction of the remuneration. Furthermore, the absence of expected subsidies from third parties for educational expenses is not a reason for a justified refusal to pay by the participant.
(5) In the event of default by the customer, EIQF is entitled to claim default interest in accordance with the Act to Accelerate Due Payments. Further claims for damages remain unaffected.
(6) The participant may only offset claims of EIQF if the customer’s counterclaim is undisputed or has been finally adjudicated.
6. Cancellation, changes and rescheduling of events
(1) EIQF reserves the right to cancel events for reasons beyond its control. Payments already made by the participant to EIQF will be refunded in the amount paid. Further claims by the participant are excluded; in particular, the participant has no right to the conduct of the examination.
(2) EIQF will inform the participant without delay if the time and place of the examination are changed.
7. Cancellation policy / right of withdrawal
The participant—if they are a consumer and not a merchant—has a right of withdrawal pursuant to Sections 312b and 312d of the German Civil Code (BGB) in conjunction with Section 355 BGB. The contractual declaration may be revoked within 14 days without stating reasons in text form (e.g. letter, fax, email). The period begins upon receipt of this notice in text form, but not before the conclusion of the contract and not before fulfilment of the information obligations pursuant to Article 246 Section 2 in conjunction with Section 1 (1) and (2) EGBGB. Timely dispatch of the withdrawal is sufficient to meet the withdrawal deadline. The withdrawal must be addressed to:
European Institute of Quantitative Finance GmbH & Co. KG
Neckarsteige 6-10
D-72622 Nürtingen
program@eiqf.de
EIQF’s obligation to perform arises only after expiry of the withdrawal period. The right of withdrawal expires prematurely if, with the participant’s express consent, EIQF has begun performing the service or the participant has initiated this themselves.
8. Copyrights, rights of use
(1) EIQF reserves all rights, including those of translation, reprint and reproduction of the documents—including as electronic documents (e.g. in PDF format)—and learning programmes, or parts thereof. No part of the documents may be reproduced, processed, modified, distributed, or otherwise used for public presentation, even in excerpts, without the written permission of EIQF.
9. Liability
(1) EIQF is liable exclusively in cases of intent or gross negligence on its part. Liability for simple negligence is only possible in the event of a breach of an obligation that is so essential to the contract that achievement of the purpose of the contract is jeopardised, as well as in the event of injury to life, body or health. In this case, EIQF is liable to participants only for compensation of damage that is typical and foreseeable and, in terms of amount, up to the amount of the participant fee.
(2) EIQF is not liable for the loss, damage or destruction of the participant’s property in connection with the conduct of the programme, unless this is due to intentional or grossly negligent conduct by EIQF. Furthermore, EIQF is not liable for personal injury or property damage arising during travel to and from the event or at the event location.
(3) EIQF is not liable for damages caused by force majeure, riots, war and natural events, as well as other incidents beyond its control (e.g. strike, lockout, traffic disruption, orders by domestic or foreign authorities) or by technical disruptions not culpably caused, such as those of the IT system. Force majeure also includes computer viruses or deliberate attacks on IT systems by “hackers”, provided that appropriate protective measures have been taken in each case.
(4) By concluding the contract, you permanently release EIQF from liability cases, claims or damages that you may assert against EIQF due to your registration.
(5) You agree that you use EIQF’s services at your sole risk. EIQF does not warrant that the services will be uninterrupted or error-free. EIQF excludes all warranties of any kind. This includes, among other things, warranties of fitness for a particular purpose, merchantability, and non-infringement of the rights of others. EIQF does not warrant the accuracy or completeness of information on the EIQF and Certified Financial Engineer websites or of information provided in connection with the EIQF websites or the Certified Financial Engineer websites. EIQF is not liable for errors or omissions or for the results obtained from the use of this information. The content of the Certified Financial Engineer is not to be regarded as a recommendation to purchase specific financial instruments and securities, to acquire companies analysed within the course in whole or in part, or to make investment decisions of any kind. EIQF cannot assume any liability for actions derived from the course.
(6) To the extent that EIQF’s liability is excluded or limited, this also applies to its employees, representatives and vicarious agents.
10. Data protection
(1) The participant is hereby informed in accordance with the Federal Data Protection Act that EIQF stores their full address as well as other order-specific details in machine-readable form and processes them electronically for tasks arising from the contract. EIQF ensures the confidential handling of these data.
(2) EIQF undertakes to treat the personal data provided by the participant confidentially and not to make it accessible to third parties (see Certified Financial Engineer Examination Regulations, Section 3 (1) c)).
11. Applicable law and place of jurisdiction
(1) This agreement is governed by the law of the Federal Republic of Germany.
(2) The place of jurisdiction for all disputes arising from the contractual relationship is Frankfurt/Main.
12. Written form and continued validity of the contract
(1) The parties undertake to make amendments and supplements to the contractual terms in writing. This also applies to the written-form requirement pursuant to this Clause 12 of the General Terms and Conditions.
(2) If individual parts of the contract are invalid, the continued validity of the remainder of the contract shall remain unaffected.
13. Disclaimer
(1) The “tools” in the Campus of Financial Engineering were created by the two directors of EIQF, “Prof. Dr. Dr. Dietmar Ernst and Prof. Dr. Dr. Joachim Häcker”. EIQF is an affiliated institute of Nürtingen University. EIQF awards the title “Certified Financial Engineer.”
(2) Pursuant to Section 1 UrhG (Act on Copyright and Related Rights (Copyright Act)), the authors of scientific works enjoy protection for their works in accordance with this Act. Pursuant to Section 2 (2) UrhG, a work exists if it constitutes a personal intellectual creation. Section 69a UrhG applies to software, such as the Excel files provided here. Accordingly, copyright law applies to software. Any computer program that is statistically unique is protected. All of these requirements apply to the tools in the Campus of Financial Engineering, and therefore the tools are protected by the Copyright Act.
(3) You will receive access to the tools upon registering for the Certified Financial Engineer. The tools are intended solely for your personal use. If you pass the tools on to third parties, use parts thereof or the tool as a whole without authorisation, without labelling such use and without referencing EIQF as the author, you will be infringing applicable copyright law and may be subject to criminal liability. You must expect that EIQF will assert claims against you and take legal action.
(4) The unauthorised exploitation of copyrighted works may be punished under Section 106 UrhG by a prison sentence of up to three years. Pursuant to Section 108b UrhG, unauthorised interference with technical protection measures and with information required for rights management may be punished by a prison sentence of up to one year. The “removal of copy protection” relevant in this case falls under this provision. The penalty may increase in the case of commercial commission to up to 3 years (for unauthorised interference with technical protection measures) and up to 5 years (for commercial unauthorised exploitation).
As of: May 2025
