ACET 2018

ACET (Actuarial Common Entrance Test) is an entrance examination for candidates who wish to enroll 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 2018 is started from 15 December 2017 for the ACET March 2018 Exam and the candidates can apply until 6 February 2018. In 2016, 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, now it will happens twice in a 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.

What is "Actuary"?

Person who skilled in determining the present effects of future contingent events or in finance modelling and risk analysis in different areas of insurance, or calculating the value of life interests and insurance risks, or designing and pricing of policies, working out the benefits recommending rates relating to insurance business, annuities, insurance and pension rates on the basis of empirically based tables and includes a statistician engaged in such technology, taxation, employees’ benefits and such other risk management and investments and who is a fellow member of the Institute.

ACET 2018 Dates for March Exam

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

The ACET registration process for the ACET March 2018 Exam is started on 15 December 2017. The candidates are required to follow the link given below to apply online for ACET March 2018. The other important details are also given below.

Click Here to Apply Online

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 acknowledgment over the mail for the acceptance of the form.
• In case the candidates are not able to receive any document or acknowledgment, they can call on the number given for resolve 022-67843304.

ACET 2018 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.

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

The ACET March Result 2018 will be declared in the last week of March 2018. 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 March 2018 exam will be declared in the last week of March 2018 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.

• 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 

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 

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

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; 

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:

 *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:

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:

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 2018 Test Centres

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

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