The Actuarial Common Entrance Test (ACET) is a computer-based entrance exam conducted by the Institute of Actuaries of India (IAI) for students who wish to become actuaries. Actuaries are professionals who use mathematical and statistical methods to assess and manage financial risks, particularly in the insurance and pensions industries.
ACET is the first step in becoming an Associate or Fellow of the IAI, which is a globally recognized professional body for actuaries. The exam tests candidates on their knowledge of mathematics, statistics, probability, and finance, and assesses their ability to apply this knowledge to solve real-world problems.
The ACET exam consists of 70 multiple-choice questions, which must be answered in three hours. The exam is conducted in two sessions each year, typically in January and June. Candidates who pass the ACET exam are eligible to pursue the IAI’s actuarial certification program, which consists of a series of exams and practical experience requirements.
How to fill ACET Application Form
- Visit the official website of the Institute of Actuaries of India (IAI).
- Click on the “ACET Registration” or “Apply Online” link.
- Register yourself on the website by providing your personal details such as name, email address, mobile number, and date of birth.
- Once you have registered, log in using your credentials.
- Fill in the ACET application form by providing your educational qualifications, contact details, and other necessary information.
- Upload scanned copies of your passport-sized photograph and signature in the prescribed format and size.
- Review the application form carefully to ensure that all the information provided is correct.
- Pay the application fee using the online payment gateway. The fee for ACET is usually around INR 3,000 for Indian residents and USD 100 for international students.
- Once the payment is successful, submit the application form.
- Take a printout of the application form for future reference.
Note: It is important to keep the application number and password safely as they will be required for future login and reference. Also, make sure to submit the application form before the deadline specified by the IAI.
Syllabus ACET
ACET stands for Actuarial Common Entrance Test, which is an entrance exam for students who wish to pursue an actuarial career in India. The exam tests the mathematical and statistical skills of the candidates.
The syllabus for ACET includes the following topics:
- Mathematics:
- Algebra
- Matrices and Determinants
- Trigonometry
- Differential Calculus
- Integral Calculus
- Differential Equations
- Statistics:
- Descriptive Statistics
- Probability Theory
- Probability Distributions
- Statistical Inference
- Regression Analysis
- Time Series Analysis
- English:
- Vocabulary
- Reading Comprehension
- Grammar
- Data Interpretation:
- Tables
- Bar Graphs
- Pie Charts
- Line Graphs
- Caselets
- Logical Reasoning:
- Number and Letter Series
- Logical Deduction
- Seating Arrangements
- Blood Relations
- Direction Sense
Candidates are expected to have a good understanding of the above topics to clear the ACET exam.
Exam pattern ACET
The ACET (Actuarial Common Entrance Test) is a computer-based entrance examination consisting of multiple-choice questions. The exam is conducted twice a year, in June and December. The duration of the exam is three hours, and the total number of questions is 70.
The exam pattern for ACET is as follows:
- Mode of Exam: The ACET exam is conducted in online mode.
- Number of Questions: The exam consists of 70 multiple-choice questions (MCQs).
- Total Marks: The exam is of 100 marks.
- Marking Scheme: Each correct answer carries one mark. There is no negative marking for incorrect answers.
- Duration: The duration of the exam is three hours.
- Sections: The exam is divided into four sections – Mathematics, Statistics, English, Data Interpretation, and Logical Reasoning.
- Sectional Timing: Each section is timed separately, and candidates are required to complete each section within the given time limit.
Section-wise distribution of questions:
Mathematics – 30 Questions
Statistics – 30 Questions
English – 10 Questions
Data Interpretation and Logical Reasoning – 10 Questions
The ACET exam is designed to test the candidate’s mathematical, statistical, and logical reas
Eligibility Criteria For ACET Exam
To be eligible for ACET (Actuarial Common Entrance Test), a candidate must fulfill the following eligibility criteria:
- Age Limit: There is no age limit to apply for the ACET exam.
- Educational Qualification: A candidate should have completed 10+2 (or equivalent) examination from a recognized board with English as one of the subjects.
- Minimum Percentage: There is no minimum percentage required to apply for the ACET exam.
- Exemption: Candidates who have cleared any of the following exams are exempted from taking the ACET exam:
- Institute of Chartered Accountants of India (ICAI) or Institute of Cost and Works Accountants of India (ICWAI) or Institute of Company Secretaries of India (ICSI) at the final level.
- Master’s degree in Statistics/Mathematics/Economics/Computer Science/B.Com/B.Tech (with Actuarial Science as a subject).
Candidates who meet the above eligibility criteria can apply for the ACET exam. It is important to note that fulfilling the eligibility criteria does not guarantee admission to the actuarial courses. Candidates also need to clear subsequent actuarial exams to become a qualified actuary.
ACET 2023 Accepting Colleges
The ACET (Actuarial Common Entrance Test) is an entrance exam conducted by the Institute of Actuaries of India (IAI) for admission into their actuarial courses. Some of the colleges that accept ACET 2023 scores for admission into their actuarial courses are:
- Institute of Actuaries of India (IAI)
- Amity University
- Christ University
- Manipal Academy of Higher Education
- Symbiosis School of Economics
- SRM Institute of Science and Technology
- KJ Somaiya College of Arts and Commerce
- PSG College of Arts and Science
- St. Xavier’s College (Autonomous), Mumbai
