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Frequently Asked Questions (FAQs)

ACET - FAQs (ver. 4.00/6th April 2017)

1.     How frequently will the entrance exam be held?
        The exam will be held at least twice in a year. As of now the planned months are: June and December.
2.     What is the eligibility criterion?
        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.
3.     Is there any exemption for ACET?
        Yes, Any applicant who has passed at least three subjects from any one of the actuarial body where IAI has MRA (Mutual Recognition Arrangement )arrangement shall be exempted from ACET Examination. (IAI has MRA with The Institute and Faculty of Actuaries UK, Casualty Actuarial Society and The Institute of Actuaries of Australia) The candidate has to give declaration that there is no disciplinary/criminal action taken against him in last five years, or any investigation is currently on-going.”.
3.     How much is the registration fee?
        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.
4.     What is the mode of examination? Is it online or offline?
        It is a computer based examination where the examinees have to be present at their chosen testing centre administered in 24 centres across India.
5.     What is the structure of Exam?  e.g. Duration, distribution of questions, marks and others.
        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:
        1. 45 questions – 1 mark each
        2. 20 questions – 2 marks each
        3. 05 questions – 3 marks each
6.     Will the Question paper have sectional cut offs? What is the Pass mark for ACET Examination?
        No, the Question paper will not have any sectional cut offs. The Pass mark for ACET Examination is 50%.
8.     Are the cut offs marks disclosed?
       No, we never disclose the cut offs marks.
9.     Is the revaluation process available?
       No. ACET is an online examination hence there is no process of revaluation.
7.     Where can I look for syllabus for the exam?
        The syllabus is available on IAI website under ACET Tab.
8.     Do the reference books cover the ACET syllabus?
        Please be informed that the reference books may or may not cover the given ACET syllabus.
9.     How can I register for the exam? Please mention step by step process, if possible.
        IMPORTANT NOTE:
        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.
        
10.     Can payment be made by any other means instead of online payment?
        No, you can only register for the exam by making an online payment.
11.     In which cities are the exam test centres available?

Code Centre Name Code Centre Name
1 Mumbai 13 Indore
2 Delhi 14 Nagpur
3 Kolkata 15 Ranchi
4 Bangalore 16 Kochi
5 Gurgaon 17 Bhubhaneshwar
6 Chennai 18 Dehradun
7 Pune 19 Patna
8 Hyderabad 20 Vizag
9 Jaipur 21 Coimbatore
10 Ahmedabad 22 Surat
11 Lucknow 23 Guwahati
12 Chandigarh 24 Raipur

12.   How do I get my examination Hall Ticket?
        It will be available in your login at the below mentioned link:-
         http://www.actuariesindia.org/ACET%20module/Acet_login.aspx
.
13.   Is there any penalty (Negative Marking) for wrong answers?
        Yes, 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.
14.   Can I use a scientific calculator during the test? If yes, please give a list of approved calculators for use in the exams.
        Yes, you can use scientific calculators in the exam. However, you can use only one of the models from the list below. This can also be used for future exams.
        1. Casio FX82 (ES/MS) (with or without any suffix)
        2. Casio FX83 (ES/MS) (with or without any suffix)
        3. Casio FX85 (ES/MS) (with or without any suffix)
        4. Sharp EL531 (with or without any prefix or suffix)
        5. Texas Instruments BA II Plus (with or without any suffix)
        6. Texas Instruments TI-30 (with or without any suffix)
        7. Hewlett Packard HP12c (with or without any suffix)
        Please note that you will not be allowed to carry any other model of the calculator in the exam centre. From this list, Casio FX82 (ES/MS), Texas Instruments BA II Plus and Texas  Instruments TI-30 are available in India. They can be ordered from sites like flipkart.com or ebay.co.in easily by the students.
15.   Can we bring writing notepad to the exam centre?
        No, you will not be allowed to carry blank sheets of paper to write. However, these sheets would be provided to you at the exam venue itself. You are not allowed to carry out any paper from the exam room.
16.   When will the results be declared?
        The results will be declared within 20 days from the date of the exam. The results would be available on the IAI website.
17.   What happens after passing the exam?
        If you are amongst the successful candidates, you need to follow the online admission process. (Available on the IAI Website).
      Note that your membership acceptance would be subject to production of attested true copies of your education certificates that would be subject to independent verification within the timelines specified. 
 Also once your membership is accepted and you receive the student membership id, you can subscribe for the study material of your selected CT subjects online. You can apply for the March 2019 Exam Diet.

• Note: Validity of ACET results is only for three years from the date of declaration of exam result for taking student membership of IAI.
18.   Can I appear for March 2019 exams after passing the entrance exam in December 2018?
        Yes, Refer Q 17 above. The timelines of results have been set such that examinees would have enough time to prepare for the next regular Actuarial Examinations.
19.   How will IAI contact me after registration?
        Please see Q9 for details of the registration procedure. If you don’t receive any communication from IAI after the registration process, please contact the ACET Helpdesk at
acet@actuariesindia.org or 022-39686060/6064
20.   Can I select my exam centre and the time of my exam?
        YES, you have the choice of the exam centre; but the time slot will be fixed i.e. between 10.00am-1.00pm.
21.   Can I appear for a paper based exam?
        No, currently IAI offers this exam only in an online format.
22.   I live outside India. Can I appear for the exam from outside India?
        No, currently the exam is being offered only in cities within India. There is however, no restriction based on citizenship and/or residence for the exams to be taken from any one of the 24 centres. However, IAI will reject applications from Countries/Nationalities “alien” to India and any other Nationality/Country that IAI may consider it should not conduct its examinations for. The decision of IAI in this regard will be absolute and final.
23.   What do I need to carry to the exam centre?
        1. You will need to carry your exam Hall Ticket.
        2. A Government issued photo Id proof (UID card, driving license, passport, voter ID card or PAN card), in original.
        3. In case of 12th class students they can carry 12th class exam hall ticket or college ID card having photo duly attested in original.
        4. An approved scientific calculator (refer Q14) and pens for rough calculations. Note that your entry to the examination hall would be subject to verification of your valid photo ID proof.
        The IAI or the exam centre will not supply any of these materials at the exam venue. You will not be allowed to carry out any material other than those specified above in the exam centre. No mobile or any other kind of communication medium will be allowed inside the exam hall. You are not allowed to carry any paper from the exam room.
24.   Can an examinee take more than one attempt at this exam?
        Yes, students who have been unsuccessful (for whatever reasons) can reappear by registering for ACET again.
25.   Who do I contact if I don’t get the email from IAI or if the registration process fails?
        Please contact the ACET HELPDESK
acet@actuariesindia.org or 022-62433333/3337 at the earliest.
26.   Who do I contact for general enquiries if any, not covered by above FAQs in this regard prior to registration?
        Please contact the ACET HELPDESK
acet@actuariesindia.org or 022-62433333/3337
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