IAI ACET 2024 Actuarial Common Entrance Test : actuariesindia.org

Organisation : Institute of Actuaries of India IAI
Entrance Exam : ACET 2024 Actuarial Common Entrance Test
Date of Examination : 04 May 2024
Application Deadline : 20th April 2024
Website : https://actuariesindia.org/about-acet

IAI Actuarial Common Entrance Test

“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. ACET Examination is conducted only in India. ACET will be conducted in a single day with one slot. Last Date for submission of Application form is 20th April 2024.

Eligibility Criteria of ACET

Any candidate studying for
** Students who have appeared 10+2 or an equivalent examination and waiting for the result.
** A candidate who have passed 10+2 or any other higher courses/examinations.
** Diploma.
** 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:-
** ACET Examination is conducted only in India.
** ACET result is valid for 3 years from the date of declaration of the exam result for taking student membership of IAI.

Important Dates of ACET

REGISTRATIONS START 19 March 2024 at 8.00 PM
REGISTRATIONS CLOSE 20 April 2024 up to 6.00 PM
DATE OF EXAM 04 May 2024 – (10.00 am to 1.00 pm)
DATE OF RESULTS 01 July 2024

How to Register for ACET?

Step 1 – Go to IAI website and signup at Acet_register_form
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.

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.

ACET Exam Structure

ACET is a 3 hour, 100 marks online exam which has 70 multiple choice questions with one correct answer for each question.
The distribution of questions will be:
(i) 45 questions – 1 mark each.
(ii) 20 questions – 2 marks each.
(iii) 05 questions – 3 marks each.
The Allocation of Marks will be as under:
(i) Mathematics – 30 marks.
(ii) Statistics – 30 marks.
(iii) Data Interpretation – 15 marks.
(iv) English – 15 marks.
(v) Logical Reasoning – 10 marks.
** ACET will be conducted in a single day with one slot.
** There will not be any negative marking for incorrect answers.
** Pass mark for ACET Examination is 50%.
** If you have any queries about Actuarial Common Entrance Test(ACET) please email us at acet@actuariesindia.org

FAQ on Actuarial Common Entrance Test

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

6. 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.

7. When will the results be declared?
The results are normally declared within 10 working days’ time from the date of the exam. The results would be available on the IAI website.