No, it's not necessary for the keywords to be presented within the title, but they should be presented within your web site content. However, it is better if they are presented in the title as well as the content.
Here is a nice on-page list of questions I put together a couple of weeks ago you can ask yourself about when targeting specific keywords:
-Keyword in Meta Title?
-Keyword in Meta Description?
-Keyword in Meta Keywords?
-Keyword in H1 Tag?
-Keyword in H2 Tag?
-Keyword in H3 Tag?
-Keyword in Bold and Strong Tag?
-Keyword in Image Alt Tag?
-Keyword in Page URL?
-Exact match Domain?