Actuarial Science

Definitive Guide on ACET Exam

acet exam

ACET Exam

The Actuarial Common Entrance Test (ACET) is necessary for aspirants who are planning to pursue their careers as actuaries and wish to enroll themselves as a student member of the Institute of Actuaries of India (IAI). This exam is 100 marks, and its duration is 3 hours. The ACET exams is conducted twice a year, in June and December.

Moving on, we will study other essential aspects of the ACET Exam like its eligibility, exam structure, the application process, and exam syllabus. To get all the information regarding the same, continue reading the article. By this end, you will get a complete overview of the ACET exams.

ACET Exam Structure

The ACET exam has a duration of 3 hrs, and it consists of 70 multiple choice questions that have one correct answer. The ACET exam is online and has no negative marking for incorrect answers.

The ACET exam is divided into five subjects with the following weights:

Subject
The weightage (Marks)
Mathematics
30
Statistics
30
Data Interpretation
15
English
15
Logical Reasoning
10

To pass the examination, you have to score at least 50% in the exam.

ACET Exam Syllabus

The ACET Exam syllabus is divided according to the subjects involved in the exam. The ACET exams involves five issues, as mentioned below:

  • Mathematics
  • Statistics
  • English 
  • Data Interpretation
  • Logical Reasoning

The syllabus of each subject is written below. Knowing the topics, you can plan your study sessions efficiently.

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Mathematics

Mathematics is a subject that requires continuous practice. Being an essential subject as an actuary, it has a weightage of 30 marks.

  • Notation and Standard Functions
  • Numerical Methods
  • Algebra
  • Differentiation
  • Integration
  • Vectors
  • Matrices

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Statistics

A scoring area of the ACET exam requires an excellent in-depth understanding of knowledge. Moreover, statistics is an essential subject of Actuarial Science. Therefore it too carries 30 marks.

  • Permutations and Combination
  • Types of data
  • Measures of location 
  • Measures of spread
  • Probabilities
  • Advanced Probabilities
  • Discrete and Continuous Random Variables
  • Discrete and Continuous Distributions
  • Correlation
  • Regression

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English

The language is essential in Actuarial Science and is necessary for an actuary. Hence it is a subject that cannot be ignored. English carries 15 marks in the ACET Exam.

  • Vocabulary
  • English Usage and Grammar
  • Sentence Correction
  • Filling in the blanks
  • Closed Passage
  • Analogies or Reverse Analogies
  • Jumbled Paragraph
  • Meaning Usage Mismatch 
  • Summary Questions 
  • Verbal Reasoning
  • Facts/ Inferences or Judgment
  • Reading Comprehension

Data Interpretation

It is easy to learn and understand if practiced. Data Interpretation plays a vital role for anyone planning to become an actuary. Data interpretation has 15 marks in the ACET exam.

  • Tables
  • Column Graphs
  • Bar Graphs
  • Line Graphs
  • Pie Charts
  • Venn Diagrams
  • Caselets

Logical Reasoning

Logical Reasoning requires your logical analysis to answer the questions that fall under the scope of logical Reasoning. Therefore, it carries a weightage of 10 marks.

  • Numbers and Letters Series
  • Calendars
  • Clocks
  • Cubes
  • Venn Diagrams
  • Binary Logic
  • Seating Arrangement
  • Logical Sequence
  • Logical Matching 
  • Logical Connectives
  • Syllogism
  • Blood Relations

The syllabus will help you get the clarity you need to decide on your focus areas. Ensure you jot down each topic of the five subjects so you can plan your study calendar, which will help you adequately cover the entire syllabus.

How to Apply for ACET Exam

Knowing the application process will ease your process of applying for the ACET Exam. Follow the following steps, and you will complete the process before you know it.

  • First, you have to apply for online eczema on the official website of the Institute of Actuaries of India (IAI).
  • Then you have to pay the non-refundable fee of Rs. 3000/- that involves the cost of study material, online tutorial, and ACET online exam.
  • Once successfully registered, you will receive a link for an online tutorial within ten days.
  • Later, you will receive a mail to choose your exam center, date, and timings.
  • Soon you will receive your hall ticket or admit card. Print it and take it with you to the exam center. Without this, you won’t be able to attend your exam. 

Once you have completed the stage of the admission process, keep yourself prepared for your examinations. 

Conclusion

This entire article is helpful for any student planning to appear for the ACET Exams. By reading this article, one understands who to apply for the exam, the syllabus, the exam structure, and the required eligibility to apply for the ACET Exams.

FAQ’s

The candidate must have appeared in 10+2, or any equivalent examination & English is one of the subjects.

Once you fill out the application form, the candidate has to pay Rs. 3000 for registration.

Once you clear the ACET exam, you can enroll for Actuarial Science Course & must clear 15 papers in stages.

Yes, a scientific calculator is allowed in the ACET exam.

No, there is no negative marking.

The ACET exam takes place three times a year.

Yes, the ACET exam is entirely MCA based.

Yes, like many other exams. However, brilliant work helps in clearing the ACET exam.

The passing mark is 50% in ACET Exam.

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