acet entrance exam

ACET 2017 

Last Date to Apply

9 November 2017

About ACET

ACET  is an entry level examination for candidates who wish to enrol as student members of Institute of Actuaries of India (IAI) and plan to appear in actuarial examinations of IAI. The application process for the ACET 2017 started from 20 July 2017 for the ACET Juen 2017 Exam and the candidates can apply until 9 November 2017. Last year 5389 students appeared in ACET and 2495 of them got through. There are four stages in IAI Actuarial Written Examination (details are given towards the end of this page). This page provides the details on ACET eligibility criteria, application process etc.

Institute of Actuaries of India, the conducting body has made changes in the exam process from 2017, it happens twice in the year. Candidates can visit the official website of Institute of Actuaries of India (IAI) and fill the application form online by following the link given on this page below. The candidates applying for the ACET December 2017 Exams should fill the registration form on or before the due date.

The candidates who are filling the ACET December 2017 registration form and appearing in the ACET exam which will be conducted on 9 December 2017 can check their ACET December Result on 22 December 2017 which will be available on this page.

ACET 2017 Dates for June and December Exams

 

Events

ACET June 2017 Dates

ACET December 2017 Dates

ACET Registration starts

8 April 2017

20 July 2017

ACET Registration ends

16 May 2017

9 November 2017

ACET Exam Date

17 June 2017

9 December 2017

ACET Result 2017

1 July 2017

22 December 2017

Last date to take student membership admission

15 July 2017

January 2018

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ACET Eligibility criteria

Academic Eligibility: The candidates applying for ACET must have appeared in Class 12 examination or an equivalent examination with English as one of the subjects in Class 12.

  • The candidates who are pursuing Class 12 or having qualifications in mathematical subjects can also appear in the examination
  • The candidates of engineering or professionals chartered and cost accountants, company secretaries, management graduates, degree holders in mathematical and statistical sciences etc are expected to take this exam

ACET Application form and Admit Card

The ACET registration process for the ACET December 2017 Exam will start from 20 July 2017 and lasts until 9 November 2017. The candidates are required to follow the link given below to apply online for ACET December 2017. The other important details are also given below.

Click Here to Apply

The candidates have to fill up the application completely, the fields marked with the asterisk are compulsory to fill. Upon successful completion of the registration, the candidates can download the welcome kit from the login download tab. However, the instructions to fill the application form is given below.

ACET Registration

  • The candidates first need to register themselves on the official website by following the link given above. To register, the candidates need to fill some required details and click on sign up button.
  • The details of the login credentials will be sent to the valid registered email id of the candidate through which the candidates can fill the further details of the application form.

ACET Filling up Application Form

  • Through using the login credentials, the candidates need to fill the required details in the application form. The candidates have to fill their Personal Details, Communication Address and Other Important Details. 
  • Candidates must upload passport size photograph in (.png, .jpg,.bmp, .jpeg, .gif, .raw) format and in the resolution of 150px*150px. The maximum photo-size shouldn’t exceed 1 MB.

ACET Payment of Application Form

  • Before the payment of the ACET application form, the candidates need to confirm the details of the application form filled by them are correct.
  • After confirmation, the candidates can click on the "Make Payment" button to pay the application fee.
  • The ACET application fee can be paid by any of the method of Credit Card/ Debit Card/ Net Banking.

Submission of Application Form

  • The candidates will have to submit the application form online, the application form will only be accepted through online mode.
  • The candidates would be sent an acknowledgement over the mail for the acceptance of the form.
  • In case the candidates are not able to receive any document or acknowledgement, they can call on the number given for resolve 022-67843304.

ACET 2017 Admit Card

Admit Card will be available on the official website only for those eligible candidates who have submitted their duly filled application forms before the due date. No admit card will not be dispatched through the post to the candidates, so no correspondence in this regard will be entertained.

Candidates are advised to check the details like name of the students, exam centre, exam dates etc. on the printed admit card.Admit Card is an important document to be carried at the exam centre.

ACET Fees

Application Fee: The ACET application fee for the Indian nationals and for other countries except for SAARC are different which is given in the table below

Category Fee
For Indian Students Rs 3,000
For other countries Except for SAARC Rs 12,500

ACET Result and Counselling

The ACET December Result 2017 will be declared on 22 December 2017 for the ACET December exam. To check the result, enter your Candidate ID in the given window. The candidates who qualify for the exam will have to produce their original documents of the qualifying examination to Actuary Society of India for the procurement of membership number. 

  • The result for  ACET December 2017 exam will be declared on 22 December 2017 on the official website of Institute of Actuaries of India,
  • Candidates need to know that the validity of ACET results is only for three years from the date of declaration of exam result for taking student membership of IAI

ACET Exam pattern

  • Duration of ACET: 3 hours
  • Mode of Examination: Computer-Based Examination, Candidates are allowed to use scientific calculators in the exam. 
  • Question Type: MCQ’s, 100 marks online exam which has 70 multiple choice questions with one correct answer for each question.
  • Negative Marking: There would be negative marking for incorrect answers. For every incorrect answer, half of the weightage of marks will be deducted. For instance:

    • For an incorrect answer to a 1 mark question 0.5 mark will be deducted
    • For an incorrect answer to the 2 marks question, 1 mark will be deducted
    • For an incorrect answer to the 3 marks question,  1.5 marks will be deducted 

Subject

% of weightage

Section 1-  Mathematics, Statistics, Data Interpretation 

55%

Section 2-  English and Logical Reasoning 

45%


ACET Syllabus

 

The ACET examination consists of total five subjects. The question asked in the ACET examination from each section of the subjects given below.

Mathematics 

  • Notation and Standard Functions, Numerical Methods.
  • Algebra, Differentiation, Integration, Vectors, Matrices 

Statistics 

  • Permutations and combinations
  • Types of data: Statistical diagrams, bar chart, histogram, dot plot, stem-and-leaf, boxplot
  • Measures of location: mean, median, mode
  • Measures of spread: range, interquartile range, standard deviation, variance, Skewness
  • Probabilities: basic rules of probabilities
  • Advanced probabilities: tree diagrams, conditional probabilities
  • Discrete random variables: definitions, probabilities, mean, mode, median, standard deviation, variance, coefficient of skewness
  • Continuous random variables: definitions, probabilities, mean, mode, median, standard deviation, variance, coefficient of skewness
  • Discrete distributions: discrete uniform, Bernoulli, binomial, Poisson
  • Continuous distributions: continuous uniform, exponential, the normal distribution
  • Correlation: scatter plots, covariance, correlation coefficient
  • Regression 

English: 

  • Vocabulary Based (Synonyms Antonyms): Vocabulary questions test the candidate’s knowledge of the primary meanings of words, secondary shades of meaning, usage, idioms and phrases, antonyms, related words, etc.
  • English Usage or Grammar: Grammar-based questions test the candidate’s ability to spot and correct grammatical errors. It will generally test the knowledge of high school level grammar and includes areas like subject-verb agreement, use of modifiers, parallel construction, redundancy, phrasal verbs, use of articles, prepositions, etc.
  • Sentence Correction, Fill in the blanks, Cloze Passage
  • Analogies or Reverse Analogies
  • Jumbled Paragraph, Meaning-Usage Match, Summary Questions
  • Verbal Reasoning: Verbal reasoning questions are designed to test the candidate’s ability to identify relationships or patterns within groups of words or sentences.
  • Facts / Inferences / Judgements, Reading Comprehension  

Data Interpretation: 

  • Tables, Column Graphs, Bar Graphs, Line Charts
  • Pie Chart, Venn Diagrams, Caselets 

Logical Reasoning: 

  • Number and Letter Series, Calendars, Clocks, Cubes
  • Venn Diagrams, Binary Logic, Seating Arrangement
  • Logical Sequence, Logical Matching, Logical Connectives
  • Syllogism, Blood Relations 

ACET Important details

IAI Actuarial Exams are divided into two types, namely Written Examination and Practical examinations. The IAI Actuarial exams are conducted in four stages.

Stage of Actuarial Exam

Subjects

Stage 1

Core Technical (CT)

Stage 2

Core Application (CA)

Stage 3

Specialist Technical (ST)

Stage 4

Specialist Application (SA)

 

Stage 1: Core Technical (CT)

Stage 1 is a Core Technical stage that covers 9 subjects. Candidates are required to pass all subjects at this stage. The subjects included in stage 1 include; 

Subject Code

Subject detail

CT1

Financial Mathematics

CT2

Finance and Financial Reporting

CT3

Probability and Mathematical Statistics

CT4

Models

CT5

General Insurance, Life and Health Contingencies

CT6

Statistical Methods

CT7

Business Economics

CT8

Financial Economics

CT9

Business Awareness Online Module(Practical Exam)

 

Stage 2: Core Application (CA)

In the Core applications stage, actuarial concepts are covered. Candidate are required to pass all the three subjects at stage 2, subjects are:

Subject Code

                              Subject Detail

CA1

Actuarial Risk Management*

CA 2

Model Documentation Analysis and Reporting (Practical Exam)

CA3

Communication (Practical Exam)

 *Actuarial risk management is assessed by 2 papers each of three hours duration. The marks of the two papers are added together to give a single mark for CA1 Actuarial Risk Management.

Stage 3: Specialist Application (SA)

This stage builds on the Core Applications Stage but in individual specialism (non-jurisdiction specific). Candidates have to choose two subjects from the six subjects offered:

Subject Code

            Subject Detail

ST 1

Health and Care

ST 2

Life Insurance

ST 4

Pension and other service benefits

ST 5

Finance and Investment A

ST 6

Finance and Investment B

ST 7

General Insurance Reserving and Capital Modeling Specialist Technical

ST 8

General Insurance Pricing Specialist Technical

ST 9

Enterprise Risk Management

 
Stage 4: Specialist Technical (ST)

This is the final stage of the examinations is one specialist (India-specific or other jurisdiction-specific to be allowed from a later date). The candidate has to choose the subject from:

Subject Code

Subject detail

SA1

Health and Care

SA2

Life Insurance

SA3

General Insurance

SA4

Pension and Other Employee Benefit

SA5

Finance

SA6

Investment

There is no requirement to have passed the corresponding specialist technical subject, however, the Specialist Applications subjects will typically assume knowledge of the corresponding Specialist Technical subject (SA5 and SA6 may each assume knowledge of both ST5 & ST6).

ACET 2017 Dates for December 2017 Exam

Events

Dates

ACET Registration starts

20 July 2017

ACET Registration ends

9 November 2017

ACET Exam Date

9 December 2017

ACET Result Date

22 December  2017

Last date to take student membership admission

January 2017

 

ACET 2017 Test Centres 

 

Mumbai

Delhi

Kolkata

Bangalore

Gurgaon

Chennai

Pune

Hyderabad

Jaipur

Ahmedabad

Lucknow

Faridabad

Chandigarh

Bhopal

Nagpur

Surat

Ranchi

Kochi

Bhubaneswar

Dehradun

Patna

Vizag

Coimbatore

Vadodara

Guwahati

Ludhiana

Raipur

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ACET Contact

302, Indian Globe Chambers
142, Fort Street, Off D N Road
Mumbai - 400 001

Tel: +91 - 22 – 67843333
Fax: +91-22 – 67843330

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