If you have passed the ACET, this means you are eligible for student membership of the IAI. Click on the following link to fill the Online Admission related details Click Here

Syllabus may be obtained from Institute’s website – Click Here

There is no limit; students can register for multiple exams in an exam session provided they do not fall on same date and time.

Actuarial exams are conducted twice a year – usually May and November. Examination dates for the upcoming exams are posted on the Institute website - Click Here for further details.

Institute has taken the initiative of conducting home based online Actuarial exams May 2024 onwards.

No, there is no negative marking.

For CB1, CB2, and Paper A of subjects CS and CM, 40% of the content shall be objective questions (MCQs), while for other subjects, the papers may include a mix of both objective and subjective components. Past examination papers and solutions are available on the Institute’s website - Check Here

Institute has a robust mechanism for coaching and counselling our students. Click Here to view the details related to coaching.

While there is no prescribed order, it is seen that starting the actuarial exams with Core principles works well in easing the students’ understanding and logical follow through with the exam rigour. A general thumb rule based on trends indicates that students follow a numerical order. It may be worth noting that:

CB1 – Business Finance assumes knowledge of CM1

CS2 – Actuarial Statistics assumes knowledge of CS1

CM2 – Financial Engineering and Loss reserving assumes knowledge of CS1, CS2, CM1 and CB2.

You may find it convenient to leverage your college education while selecting the subjects appropriately. Typically preferred choices based on education background have been:

Mathematics/Engineering: CM1

Statistics: CS1 and CS2

Economic: CB2

Accounts / Commerce: CB1

Whilst planning your exams, kindly note that there is no compulsory order of studying Core principle subjects.

The numbering of the Core principle subjects represents an ordering that would be appropriate for anyone working in life insurance or pensions. Anyone working in general insurance may prefer to take CS2 at any stage after studying CM1 while someone working in investment may prefer to take CB2 and CM2 before CS2 and CM1.

This is a highly subjective question and solely depends on the student’s commitment. Nevertheless, the ball park hours of intensive study as reported by successful students in the past are as highlighted:-

• Core principle subjects (CS1 & 2, CM1 & 2, CB1 & 2):Between 125 and 150 hours and student’s past educational background in the subject.
• Business awareness (CB3) At least 20 hours plus two-day practical course
• Actuarial Practice (CP1) 400 hours
• Model Practice (CP2) 50 hours
• Communication Practice (CP3) 50 hours
• Specialist principle subjects (SP) 200 hours
• Specialist applications subjects (SA) 300 hours

In CP2/CP3, it is assumed that the students have prior knowledge of CS, CM and CB subjects. Any additional information not part of assumed knowledge of prior subjects will be provided within the question paper itself, if relevant and applicable.

There is no minimum eligibility for CP1. However, students may find it logically convenient to clear all core principle subjects prior attempting CP1.

There are no pre-requisites of clearing other papers in order to register for CP2 & CP3.

It is not mandatory to pass Paper A and Paper B individually. Kindly refer the Pass Mark Rule.

Yes, you may use scientific calculators during the examination as applicable. However, only the following models are permitted:

i. Casio FX-82 MS / SOLAR / SX Plus / ES (with or without any suffix)

ii. Casio FX-83 (ES/MS) (with or without any suffix)

iii. Casio FX-85 (ES/MS) (with or without any suffix)

iv. Casio FX-220 Plus

v. Casio FX-350 MS

vi. Casio FX-570 MS

vii. Canon F-502 G

viii. Canon F-715 S / SG

ix. Canon F-720i

x. HP 10s+

xi. Sharp EL-501 X

xii. Sharp EL-503 W

xiii. Sharp EL-506 X / W

xiv. Sharp EL-509 X / W

xv. Sharp EL-510 RN TI-30XS Multiview

xvi. Sharp EL-520 X / W

xvii. Sharp EL-531 XH / XG / WH (with or without any suffix)

xviii. TI-30X IIS / IIB

xix. TI-30 eco RS / Xa

xx. TI-36X II

xxi. Texas Instruments BA II Plus (with or without any suffix)

xxii. Texas Instruments TI - 30 Plus (with or without any suffix)

xxiii. Hewlett Packard HP12c (with or without any suffix)

Please note that you will not be allowed to use any other model of the calculator.

You may be asked to show and validate the same to the proctor during the examination.

There is no fixed duration to complete the course as you are at liberty to take the examinations at a pace that suits your circumstances. 13 subjects are prescribed to be cleared before one is awarded the Fellowship and calls for continued and sustained efforts to complete the course. Additionally, you need a minimum of three years’ relevant work experience to qualify as a Fellow. Keeping the above factors in mind, the typical time-frame for qualification in recent years has been 5-8 years.

In order to qualify, there is a minimum work experience requirement of three years in an Actuarial field. Almost all reputable actuarial employers have attractive study programs to support your development and growth. These include time off work to study and take the examinations, mentoring by senior colleagues as well as financial support. Being an actuary is a professional qualification and you are expected to gain relevant work experience alongside studies. Typically, if you have passed two to four core technical papers, it is advisable to actively begin researching your preferred career options and secure an appropriate job.

A list of potential employers is available on the Institute’s website - Actuarial Employers in India

Career opportunities are regularly advertised in the Actuary India magazine as well posted on the Institute’s website from time to time.

Many reputable employers including consultancies and insurance companies recruit entry level actuarial students – typically entry level positions may be open to University graduates with no or very few actuarial exam passes.

A placement cell is functioning within the Institute to provide all guidance and support to its members on their first job by facilitating job opportunities with various actuarial employers. The cell also help students to understand their skill and training requirements based on such opportunities with Companies. The member can register with the Placement cell and avail all services related to employment/ change of employment.

Kindly contact Ms. Binita Rautela at binita@actuariesindia.org / +912262433342.

Yes, you may, but you should keep your IAI membership updated, i.e. active.

Detailed information regarding the same is available at the Institute’s website - Types of Membership

Result will be Absent for respective subject.

For CB1, CB2, CS and CM (Paper A) subjects would comprise of multiple-choice questions (MCQs) with 40% weightage. This is done to mitigate challenges that may arise in typing complex actuarial notations during the examination session. However, please note that the students may still be required to type in some actuarial notation/ formula/ equation as required basis the question asked for these subjects.

All other exams will be subjective in nature.

No, this is a closed book examination. Please be informed that you will be monitored by online proctors throughout the Examination and applicable rules governing misconduct apply in cases of breach or malpractice.

The examination will be conducted within a secured browser environment where students can access the questions as well as medium to provide answers. All answers must be typed in. There will be no provision for submission of handwritten and scanned answer scripts.

Subjects where R-Studio, MS Word and/or MS Excel software is required can be accessed within the platform itself.

This secured environment will be invigilated through online live proctors.

The minimum inescapable software and hardware requirements to appear for online Actuarial Examinations is as enumerated.

For following subjects, applicants shall also fulfil the additional requirements as given below:

1. CM1, CM2, CP2:

     a. MS Office (Licensed) - 2010 or above

Note: Functional Keys, Escape key and right click of the mouse will be disabled during the time of examination.

2. CS1, CS2:

     a. MS Office (Licensed) - 2010 or above

     b. R version 3.6.1 or higher

     c. R Studio – Version 1.1 or higher for 32 bit operating system

                           Version 1.2 or higher for 64 bit operating system

     d. Packages – base, stats, utils, graphics, fpp, markov chain, forecast, dplyr, readxl, psych, corrplot, flexsurv, survival, etc.

We expect the students to meet the above requirements before the mock test.

You are strongly advised to equip yourself with the aforementioned software and hardware requirements well prior the actual examination. In the absence of one, you will find yourself incapable of accessing the online platform and resultantly lose an attempt.

Click Here to check the system compatibility.

The minimum software version requirement for MS Office and R based examinations are provided earlier in answer to FAQ 25. Please take note of the following:

• You can use any standard function available in Excel, Word and R (excluding the use of Macros).
• You can use the Equation Editor to construct any actuarial notation/symbol/equation. Alternately, you can use any other form of presentation of the same so long as any third person can comprehend what is written.
• You are not permitted to handwrite mathematical equations. This includes the use of freehand drawing tools or other hardware such as drawing tablets, which are prohibited.
• You are prohibited to use ‘Dictate’ or any similar function. You are expected to complete all examination answers using keyboard entry into the applicable platform as outlined.
• You are requested to delete or disable any customized add-ins within the MS Office platform as its use or access is prohibited during the examination session.
• You are prohibited to use RMarkdown and knitR during the R-based examination.

Each paper for Home-Based Online Examination will be set to 3 hours and 15 minutes, except CS1B, CS2B, CM1B & CM2B each which will be for 1 hour and 45 minutes.

For CS, CM and CP2 (Paper A & B), students are responsible to track the exam timer. You will be provided additional 15 minutes for uploading your answer script and the upload option will be available on the last question of the respective subject. Any work done inside the answer script during additional 15 minutes may lead to loss of attempt or failure in uploading the answer script. The last successfully uploaded answer script in exam platform shall be considered for evaluation. Reference image is as below:

Image 1

The Institute is conscious of risk of misconduct during online exams taken from home/ personal space. Following steps are therefore incumbent to maintain the integrity of actuarial examinations:

• All examinations will be invigilated through online proctors with access to each candidate on real time basis. The proctors will be adequately empowered to take corrective and/or preventive steps should any misdemeanour be detected during the examination session.
• It will be mandatory for the candidates to keep the webcam and sound card/microphone switched on for the entire duration of the examination session.
• The candidates are advised to appear from a closed room with no one else being present in the same confined space.
• The candidates will be prohibited from having access to any material offline in physical format or online on their personal devices or accessible through internet.

The candidates are reminded that they are governed by Instruction to Examinees and the Institute reserves the right to appropriate and proportionate action should any misconduct come to its notice during or after the examination session.

You can access your own actuarial tables. The book should not contain any annotation or markings whatsoever or any pre-written loose sheets attached to it. You may be asked to show and validate the same to the proctor during the examination. (Note: Print or xerox copy is not allowed)

Note: For CS, CM and CP2 (Paper A & B), each student is responsible to track the exam timer. You will be provided additional 15 minutes for uploading your answer script, the upload option will be available on the last question of the respective subject. Any work done inside the answer script during that additional 15 minutes might lead to loss of attempt or failure in uploading the answer script. The last successfully uploaded answer script in exam platform shall be considered for evaluation.

You can choose the right option(s) available on right hand side of the exam screen.

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It is recommended to use default font size.

No, you are not permitted access to any such device. You are expected to complete all examination answers using keyboard entry into the applicable platform as outlined earlier.

You are strongly advised to use your personal laptop/desktop for online examination. Office laptop/desktop may have security/download related restrictions. It is the candidate’s personal responsibility to ensure they meet the software and hardware requirements as stipulated above so that the online examination platform can operate without any hindrance.

You are strongly advised to test the hardware i.e. laptop or desktop along with accessories like mouse, keyboard, webcam, soundcard/microphone and satisfy yourselves that they are in working condition. You should have downloaded any latest security patches and keep your device updated to its latest expected version before the start of the examination. You can also access any back-up device which meets the minimum hardware requirement as a replacement if need arises.

In case of MS Office/R, we strongly advise the candidate to only use authorized and legitimate version of the software. The candidate is advised to download and install all latest software updates before the examination.

Given this is home-based examination, it remains the responsibility of the candidate to ensure the hardware/software works during the time of examination.

During Examinations if you face any technical issue, kindly contact the helpline number available on the Examination platform +91 80471 90902/ email the issue on mettl-support@mercer.com keeping copy to exam@actuariesindia.org. In case you are not able to reach the helpline number, kindly contact Institute immediately at 91 22 62433334/36/38 or +91 8329321986/ 8080225226/ 8655028028.

You are advised to keep your laptop fully charged and/or have a battery capacity that can last the full duration of an examination session. For desktop, it is advisable to have power back-ups for situations of power failure/interruption.

Given this is home-based examination, it remains the responsibility of the candidate to ensure the access to uninterrupted power supply to the laptop/ desktop or means to keep your device working.

The exam is conducted in home based online format, which calls for uninterrupted internal connectivity during the examination session.

In unforeseen circumstances affecting internet connectivity, the following is to be borne in mind:

• Your work on the text editor within the examination platform gets auto-saved frequently and chances of losing any written work are remote.
• Your work done on MS Office or R software doesn’t get automatically saved in the platform until you upload the relevant files at the end. You should therefore ensure you are saving the work in your local drive periodically till it is ready for upload to avoid disappointment.
• You are expected to keep screenshots as evidence for any internet disruption impacting your work materially as and when they occur. You may be called upon to submit the proofs if any relief is sought citing such disruption.
• Any deliberate attempt to disconnect the internet access will be considered as misconduct and disciplinary action as deemed appropriate can be initiated under such circumstances.

You are advised to make a provision for alternate internet connection to minimize the risk of disruption.

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Click Here for mitigation policy and procedure.

In an unfortunate situation where the examination platform fails for reasons other than issues related to candidate’s hardware/software or power/internet connectivity, the Institute will try to put alternate arrangements in place on a best effort basis. In case it is not possible, the Institute may offer to re-schedule to an alternate date or cancel the session/provide refund of examination fees as deemed appropriate.

We would suggest that you appear for the examination in any place at home, or any private place, keeping the following in mind:

• The place should be quiet and provide you uninterrupted access for the full duration of the examination.
• It should be a confined private place with controlled access for any second person.
• You are to ensure that no one else is present at any time during the examination session
• You have uninterrupted access to power supply and internet connection.
• The place should be well lit for the online proctor to monitor the proceeding effectively.
• You are advised to have a comfortable chair and desk.

The following are permitted during the examination session:

• One Personal device i.e. laptop/desktop with webcam along with other accessories like keyboard, mouse, laptop charger etc. as per the requirement as mentioned under point 3 above
• Actuarial tables • Scientific calculator
• Loose sheets of blank paper for rough work. You are required to show these before using by the proctor.
• Pen/Pencil to write on loose sheets
• Any government-issued ID to be used for verification
• Transparent Bottle/glass of water
• Back-up hardware

Any form of personal consumables, mobile phone, smart watch, handsfree device, headset/ earphones etc. or any other electronic gadget are not allowed to be kept near you during the examination.

You will not be allowed to appear for examination and will lose the attempt.

No, the examinations will be strictly held as per the Exam Time Table.

All exams are scheduled in Indian Standard Time (IST)

Click Here to view Announcement of Actuarial Examination

You will receive the login credentials and exam instructions 2 days before the exam date. Exam link and instructions will be made available under your member login a day before the exam date.

Yes, we have a policy on this matter. Kindly refer the below link: Click here for details.

Candidates who log in late after the start time of the examination will not be allowed to access the platform and write the examination.

You are advised to go through below link: https://support.mettl.com/portal/en/kb/induslynk-training-services-p-ltd/candidates/troubleshooting/during-test

You are advised to go through below link. https://support.mettl.com/portal/en/kb/articles/camera-microphone-issues

Click on power button located on bottom right side of the screen. Re-login using the same examination link after 5-7 minutes.

Please try the following.

• Check Internet Connectivity or Exit Browser (click on power button on bottom right of exam screen)
• Uninstall the MSB and re-install the same and try to launch examination again.
• Hard Shutdown (shut down your system by pressing power button for 5-10 seconds)

Candidate needs to install the below mentioned software’s in their system in the Local Drive C:\Program Files\

• R version 3.6.1 or higher
• R Studio – Version 1.1 or higher for 32-bit operating system Version 1.2 or higher for 64-bit operating system

R Studio must be installed in following path: C:\Program Files (i.e. default windows drive). If the Secure Exam Browser is unable to locate the R Studio, you can manually locate the “R Studio.exe” by browsing to the saved location.

Screenshot

Type the codes and Output in “R Studio” and simply copy the content using Ctrl + C and to paste using Ctrl + V in MS Word document. In case Ctrl + V is not responding, try pasting by clicking the Paste à Paste Special à Values option under Home tab within the Command Bar in MS Word application.

Candidate needs to have licensed version of MS Office 2010 and above installed in their system in the Local Drive C:\Program Files\

Mettl Secure Browser will automatically detect the above application and the same can be accessed from the task bar below within the examination window.

Note:

• Candidates are advised to update the following settings in the MS Word and MS Excel before starting the examination: Open Any Word/Excel document available in your system then go to Files à Options à Trust Center à Trust Center Settings à Protected View à (Uncheck all the 3 options) à Click on OK.
• Candidate are required to close all the MS Office applications at the background before the examination.

You can simply use ALT+TAB to toggle between the Examination Window and MS Word/ MS Excel/ RStudio during the examination. This will work only after you have opened at least one more application other than main examination platform in MSB. You can also toggle by manually selecting the application from the task bar.

Note: This is only applicable for CS1, CS2, CM1, CM2 and CP2 Subjects

You can access the downloaded solution template/data files using the following steps:

i. Open a blank excel file from taskbar, click on “File” option.

ii. Select Open option, browse the location.

iii. Select all files from the bottom right of the popped-up screen.

iv. Select the required file and click on “Open”.

v. If you face file corrupt issue, please follow below steps:

    a) Open a blank excel file from taskbar, click on “File” option.

    b) Go to option > Trust Centre > Trust Centre Settings > Protected View > Uncheck all the three options > Click on “Ok”.

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To ensure stringent integrity and security of examination process delivery, the above features will not be available. These restrictions would however not hamper your access to any permissible action during the examination, particularly which require use of MS Excel software.

You can insert equation in solution typing area using the equation editor available in the exam platform for all subjects except for CS Series, CM Series and CP2 Subject. Kindly refer following link - https://support.mettl.com/portal/en/kb/articles/how-to-attempt-math-and-chemistry-type-questions-in-the-test

The examination platform restricts the use of any function keys, particularly during the examination which require use of MS Excel software.

These function keys are meant to act as shortcuts to the standard functions in Excel which can still be accessed in the usual manner. We have tabulated below the alternate means to operate the some of the popular function keys in Excel during the examinations:

Our examiners have aligned the question paper pattern where you will not have a mandatory requirement to use graphs/diagrams to support your answers.