IAI Actuarial Common Entrance Test (ACET)

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Important Dates

Actuarial Common Entrance Test (ACET) is conducted by Institute of Actuaries of India. The exam will be held at least twice in a year. As of now the planned months are: June and December.

Eligibility

The only eligibility criterion is that the examinee must have appeared 10+2 examination or an equivalent examination with English as one of the subjects at 10 + 2 level. Nevertheless, it is expected that many of those who are already in education at higher levels and also those working and having qualifications in mathematical subjects would take up the examinations. For example engineering students or professionals, chartered and cost accountants, company secretaries, management graduates, degree holders in mathematical and statistical sciences etc are expected to take this exam.

If an examinee clears the examination and subsequently applies for membership, their membership acceptance would be subject to production of attested true copies of certificates that would be subject to independent verification.

ACET Exam Structure

ACET is a computer based examination where the examinees have to be present at their chosen testing centre administered in 24 centres across India.

The exam will have multiple choice questions with one correct answer for each question. The exam will be conducted online at a pre-selected test centre at a specified time. The exam will be a three hour, 100 marks online exam which will have 70 multiple choice questions with one correct answer for each question. The questions for Section-I i.e. Mathematics, Statistics and Data Interpretation will contain 55% of weightage and Section-II i.e. English and Logical Reasoning will contains 45% of weightage. The total distribution of questions would be: 

• 45 questions – 1 mark each 
• 20 questions – 2 marks each 
• 05 questions – 3 marks each 

There would be negative marking for incorrect answers. The incorrect answer will deduct half of the weight age of marks e.g. for an incorrect answer to a 1 mark question 0.5 mark will be deducted and for an incorrect answer to the 2 marks question 1 mark will be deducted and likewise, for an incorrect answer to the 3 marks question 1.5 marks will be deducted. 

ACET will be conducted in a single day with one slot.

How to Register

The registration fee for the entrance exam is Rs. 3,000 (three thousand only). This covers the cost of one Sample Question Paper, Indicative Solution and Online Exam. The registration fee once paid is neither refundable nor can it be carried forward for the next ACET. You are therefore requested to make considered decision to take up the examination and only then register.

While registering, kindly use Browsers, Mozilla Firefox, Google Chrome, Internet Explorer (7+ higher version). The fields marked with a red asterisk are compulsory and cannot be left blank.

• Step 1 - Go to IAI website and signup at http://actuariesindia.org/subMenu.aspx?id=4&val=ACET. 
• Step 2 - Fill up the online registration form and make the payment online. Before you make the payment, make sure all your details are correct because no subsequent changes would be possible thereafter. 
• Step 3 - On successful completion of payment, you will also receive an e- mail at your registered e-mail address confirming your registration and successful payment. (Inform us immediately, in case, you do not receive it). Kindly take a printout of your ACET online Registration Form. 

After successful registration, students will be able to download the sample question paper for the examination. However, the names of the reference books will be provided to the students.

The syllabus will include the questions for :

• Section-I Mathematics, Statistics and Data Interpretation having 55% of weightage and
• Section-II English and Logical Reasoning having 45% of weightage.

The syllabus and other details are available on IAI website.

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