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ACET

ACET Examination Explained

Actuarial Common Entrance Test (ACET)

"Actuarial Common Entrance Test" is applicable to the candidates who plan to enroll as student member of the Institute of Actuaries of India and wish to take actuarial examinations.

Eligibility Criteria:

Any candidate studying for
• 10+2
• Finance, or any other stream, but you have love for Mathematics and skills in Numeracy.
• Mathematical Sciences: Maths, Statistics, Econometrics or any other.
• Engineering.
• Management.
• Chartered Accountant, Cost Accountant or a Company Secretary.

Note:
1. ACET Examination is conducted only in India
2. ACET result is valid for 3 years from the date of declaration of the exam result for taking student membership of IAI.


Structure of ACET Examination:

Institute of Actuaries of India had started conducting its Entrance Exam which is ACET from January 2012.

Institute has started conducting ACET examination in Home Based Online Format with effect from October 2020.

1. ACET is a 3 hour, 100 marks online exam which has 70 multiple choice questions with one correct answer for each question.

2. The distribution of questions will be:

a. 45 questions – 1 mark each
b. 20 questions – 2 marks each
c. 05 questions – 3 marks each

3. The Allocation of Marks will be as under:

a. Mathematics - 30 marks
b. Statistics - 30 marks
c. Data Interpretation - 15 marks
d. English - 15 marks
e. Logical Reasoning - 10 marks

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

5. There will not be any negative marking for incorrect answers.

Pass mark for ACET Examination is 50%.

Technical Requirements for appearing the ACET Home Based Online Examination:

To appear for ACET Home Based Online Examination, all applicants shall require to fulfil the mandatory technical requirements;
Hardware Device Personal Laptop or Desktop with web camera and microphone
(NOTE: IOS / MAC BOOK ARE NOT ALLOWED)
Web Camera Webcam must have a minimum resolution of 640x480 @ 15 fps
Internet Bandwidth 2MBPS or more – dedicated and continuous connectivity/ Wired or wireless networks
RAM 2 GB or above
Processor 2 cores, 4 threads, Above 2.2 GHz.
Graphics Minimum of 64 MB of graphics memory
Screen Resolution 1024 x 768 and above
Multimedia Support Sound Card
Software Operating System Windows 10 (Pro, Enterprise, and Education editions) OR
Windows 8/8.1 (32-bit and 64-bit) (all editions) OR
Windows 7 (32-bit and 64-bit) (all editions)

Note: Up-to-date Service pack, device drivers, security patches in test taking system
Web Browser Latest Edge-
https://www.microsoft.com/en-us/edge
Chrome
https://www.google.com/intl/en_in/chrome/
Others Net Framework –
4.5.2 https://dotnet.microsoft.com/download/dotnetframework/net452

Note:

We urge all applicants to meet all mandatory technical requirements before registering for ACET Online home based Examination.
No requests for Cancellation and Refund will be entertained post registration.

Syllabus

Syllabus:

Syllabus for ACET Examination will include the following

1) Mathematics

a) Notation and standard functions
b) Numerical Methods
c) Algebra
d) Differentiation
e) Integration
f) Vectors
g) Matrices

2) Statistics

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

3) English

a) Vocabulary Based (Synonyms Antonyms)
b) English Usage or Grammar
c) Sentence Correction
d) Fill in the blanks
e) Cloze Passage
f) Analogies or Reverse Analogies
g) Jumbled Paragraph
h) Meaning-Usage Match
i) Summary Questions
j) Verbal Reasoning
k) Facts / Inferences / Judgements
l) Reading Comprehension

Vocabulary: 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.

Grammar: Grammar-based questions test the candidate’s ability to spot and correct grammatical errors. It should generally tests 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.

Verbal Reasoning: Verbal reasoning questions are designed to test the candidate’s ability to identify relationships or patterns within groups of words or sentences.

4) Data Interpretation

Data is given in form of tables, charts and graphs. In this section it is tested that how can you interpret the given data and answers the questions based on it.

a) Tables
b) Column Graphs
c) Bar Graphs
d) Line Charts
e) Pie Chart
f) Venn Diagrams
g) Caselets
Combination of two or more types linked to each other.

5) Logical Reasoning

a) Number and Letter Series
b) Calendars
c) Clocks
d) Cubes
e) Venn Diagrams
f) Binary Logic
g) Seating Arrangement
h) Logical Sequence
i) Logical Matching
j) Logical Connectives
k) Syllogism
l) Blood Relations

Reference Books for ACET Examination:

Note: The reference books are for guidance purpose and they may or may not cover the given ACET syllabus.

1. TOMATO (Test Of Mathematics at Ten plus Two level published by ISI)
2. How to Prepare for Verbal Ability and Reading Comprehension for CAT by Arun Sharma and Meenakshi Upadhyay, Mc Graw Hill
3. How to prepare for Quantitative Aptitude for the CAT Editor: Arun Sharma
4. Quantitative Aptitude for Competitive Examinations Editor: Abhijit Guha
5. The Pearson and Guide to Verbal Ability and Logical Reasoning for the CAT Editor: Nishit K. Sinha
6. Quantitative Aptitude for MBA Entrance Examinations Editor: R.S. Aggarwal
7. High School English Grammar and Composition- Wren and Martin
8. Word Power Made Easy Editor: Norman Lewis
9. Problem Solving Strategies Editor: Arthur Engel
10. Challenge and Thrill of Pre-College Mathematics by New Age International Publishers
11. Challenging Mathematical Problems with Elementary Solutions Editors: A.M. Yaglom and I.M. Yaglom
12. An Excursion in Mathematics Editors: M. R. Modak, S. A. Katre, V. V. Acharya, V. M. Sholapurkar
13. Problem Primer for the Olympiad Editors: C R Pranesachar, B J Venkatachala, C S Yogananda
14. Trishna’s Data Interpretation and Logical Reasoning for the CAT and other MBA Entrance Examinations
15. ACTED Study Material - FAC and STATS PACK

Note: Validity of ACET results is only for three years from the date of declaration of exam result for taking student membership of IAI.

ACET Announcement and Registration Process

IMPORTANT DATES - ACET JUNE 2021
REGISTRATIONS START 24th April 2021 from 3:00 pm
REGISTRATIONS CLOSE 2nd June 2021 upto 3:00 pm
DATE OF EXAM 26th June 2021 (10:00am to 1:00pm)
DATE OF RESULTS 3rd July 2021


IMPORTANT DATES - ACET DECEMBER 2021
REGISTRATIONS START 27th August 2021 from 3:00 pm
REGISTRATIONS CLOSE 26th October 2021 upto 3:00 pm
DATE OF EXAM 11th December 2021 (10:00am to 1:00pm)
DATE OF RESULTS 18th December 2021


ACET Login
Registration Announcement
Announcement on Modification in ACET Examination Eligibility Criteria
Student Guide for Home Based Online Examinations
Mock Examination Announcement for ACET June 2021
Registration Link

Past Question papers and Solutions

ACET Results

FAQ’s - In General

1. How frequently will the entrance exam be held?
The exam will be held two times in a year tentatively in months of June and December.

2. How much is the registration fee?
The registration fee for the entrance exam is INR 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.

3. Will the Question paper have sectional cut offs? What is the Pass mark for ACET Examination?
The Question paper will not have any sectional cut offs. The Pass mark for ACET Examination is 50%.

4. Do the reference books cover the ACET syllabus?
The reference books are for guidance purpose and they may or may not cover the given ACET syllabus.

5. 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 and Internet Explorer (7+ higher version). Please do not use mobile phone for registration. The fields marked with a red asterisk are compulsory and cannot be left blank. Step 1 - Go to IAI website and signup at http://www.actuariesindia.org/ACET%20module/acet_register_form.aspx
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.


6. Can payment be made by any other means instead of online payment?
You can only register for the exam by making an online payment.

7. 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

8. Is there any penalty (Negative Marking) for wrong answers?
Negative marking has been discontinued from September 2019 Examination. There is no negative marking for wrong answers.

9. When will the results be declared?
The results are normally declared within 7 working days’ time from the date of the exam. The results would be available on the IAI website.

10. 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 Core principle subjects online. You can then apply for the Regular Actuarial Examinations.
• Note: Validity of ACET results is only for three years from the date of declaration of exam result for taking student membership of IAI.


11. 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 022-62433333/3334.

12. Can I select the time of my exam?
The time slot will be fixed i.e. between 10.00am-1.00pm.

13. Can I appear for a paper based exam?
Currently IAI offers this exam only in a Computer based format.

14. I live outside India. Can I appear for IAI ACET examination?
No. You can appear for IAI ACET examination from India only.

15. Can an examinee take more than one attempt at this exam?
Students who have been unsuccessful (for whatever reasons) can reappear by registering again for ACET.

16. 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 022-62433333/3334 at the earliest.

17. Does Institute provides study material for ACET Examination?
Institute does not provide any study material for ACET Examination. However you can refer the Past ACET question papers with solution available under ACET Tab and name of the reference books available under ACET Syllabus tab.

18. What are the specifications for a photograph?
Do'sDont's
Upload your recent standard passport size photograph (4.5 cm length x 3.5 cm width) in colourDo not upload black and white photographs
Background of the photograph should be plain white and the dress should be in dark colour Photograph should fit within the given box Photograph with dark background or in uniform, or with eyes hidden under coloured or dark glasses will not be accepted Photograph is NOT to be signed
Frontal view of the full face should be visible in the photographDistracting shadows on the face or on the background should not be there
Print of the photograph should be clear and with a continuous-tone qualityEyes must not be covered by hair.
Expression of the face should be natural (no grinning, frowning or raised eyebrows)Glares on eyeglasses should be avoided with a slight upward or downward tilt of the head
Eyes must be open and both edges of face must be clearly visiblePhotograph should not be damaged, for example: torn, creased, or marked
Minimum photo resolution should be of 150px *150px. Maximum photo size should not be more than 1MB to be saved only in (.png, .jpg, .bmp, .jpeg, .gif, .raw) formatHead coverings are not permitted except for religious reasons, but the facial features from bottom of chin to top of forehead and both edges of the face must be clearly visible
Head should be in the centre of the frame and both ears should be visiblePhotographs cut from group photographs are not acceptable


19. Whether 12th appeared student can appear for the ACET examination?
Yes, but after passing ACET, at the time of applying for IAI student membership, the student should have qualified 12th standard.

20. Where can I find the Registration link for ACET Examination on website?

Please go to following link http://www.actuariesindia.org/ACET%20module/acet_register_form.aspx

21. Is there is any provision of Revaluation or detailed mark sheet of ACET answers sheets?
For ACET Examination, there is no such provision.

22. If the registration fails and amount gets debited from account then whom to contact?
Please contact to IAI accounts department. Their contact details are available under contact us tab on IAI website http://www.actuariesindia.org/subMenu.aspx?id=66&val=About_us.

FAQ’s - Home Based Online Examinations

1.     What are the minimum software/hardware requirement to appear for home based online format ACET Examination?
        Details of the technical requirements for our examinations can be found in our Technical requirements Student guide on Online ACET examination.

Hardware Device Personal Laptop or Desktop with web camera and microphone
(NOTE: IOS / MAC BOOK ARE NOT ALLOWED)
Web Camera Webcam must have a minimum resolution of 640x480 @ 15 fps
Internet Bandwidth 2MBPS or more – dedicated and continuous connectivity/ Wired or wireless networks
RAM 2 GB or above
Processor 2 cores, 4 threads, Above 2.2 GHz.
Graphics Minimum of 64 MB of graphics memory
Screen Resolution 1024 x 768 and above
Multimedia Support Sound Card
Software Operating System Windows 10 (Pro, Enterprise, and Education editions) OR
Windows 8/8.1 (32-bit and 64-bit) (all editions) OR
Windows 7 (32-bit and 64-bit) (all editions)

Note: Up-to-date Service pack, device drivers, security patches in test taking system
Web Browser Latest Edge-
https://www.microsoft.com/en-us/edge
Chrome
https://www.google.com/intl/en_in/chrome/
Others Net Framework –
4.5.2 https://dotnet.microsoft.com/download/dotnetframework/net452

2.     Will there be a change in structure of question paper?
        ACET Question format remains the same as mentioned in ACET background
http://www.actuariesindia.org/subMenu.aspx?id=378&val=ACET_Background.

       .
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.     What if I fail to login exam as per mentioned exam time?
        There will be no relaxation as it is candidate’s responsibility to do on time login. You will not be able to login after 10:00 am on the examination day.

4.     What if Government approved ID card and hall ticket are not available with me at the time of Examination?
        You will not be allowed to appear for examination, in case if you fail to do so you may lose the attempt.
       
5.     What if I do not fulfill the mentioned software and hardware requirements to appear for online examination?
        You are advised to fulfill the mentioned software and hardware requirements before registering for online examination. In case if you fail to do so you may lose the attempt.

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.
6.     Can I appear for online examination through my office laptop?
        You are advised to use your personal laptop/desktop for online examination. Office laptop/desktop may have restrictions.

7.     Can I use External Calculator from approved list of IAI during online examination?
        Yes, you can use scientific calculators in the exam. However, you can use only one of the models from the list below.

        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 use any other model of the calculator. 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 or Amazon easily by the students.

8.     Can I use note pad for rough work?
        You can use only 2 blank pages for rough work.
        
9.     If I have internet, Electricity failure or system crashes during the exam?
        It is your responsibility for organizing and testing the equipment’s and alternative arrangement ahead of any online assessment in accordance with guidance issued by the IAI before the exam. In case if you fail to do so you may lose the attempt.

10.     If I face any issue during examination related to IAI platform?

        Along with the login details you will be provided the technical support number.
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

11.   When will I receive the ACET Examination login details from IAI?
        You will receive the login credentials and exam instructions 2 days before the Examination Date.

12.   Can I move from system during Examination?
        No, you are not allowed to move away from the system during examination.

13.   Is this Exam an open book Exam since format changed to home based online format?
        No, this is not an open book Exam, you will be monitored by online proctors throughout the Examination.

14.   Will there be an invigilator to monitor the examination?
        Yes, there will be an online invigilator monitoring your each activity throughout the examination.

15.   Will there be multiple slots to appear for examination?
        ACET will be conducted in a single day with one slot.

16.   Do’s and Don’ts for the examination
       
Do'sDont's
Keep yourself cool and calmDon't panic during the examination
Keep your exam desk neat and clean.Don't use sticky notes, notepads, etc.
Keep your Hall Ticket and Government ID/College ID proof handy.Don't move away from system during the live examination.
You can keep only two blank paper and pen with you for rough workDon't use any electronic gadget viz. Cell Phones, Smart Watch, Fitness Band, etc.
Keep your mail id logged-in before exam start time.Don't access any other browser or social accounts during the exam.
Keep a transparent water bottle.Don't connect any external ports to system during the Examination.
Use restroom before login.

17.   Who do I contact for general enquiries if any, not covered by above FAQs in this regard prior to registration/Examination?
        Please contact the ACET HELPDESK acet@actuariesindia.org or 022-62433333/3336

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