Compare ACET with other actuarial exams like IFoA, SOA, and CAS. Understand the key differences in syllabus, difficulty level, exam pattern, and career scope to choose the right actuarial pathway in 2025.
The Actuarial Common Entrance Test (ACET) is conducted by the Institute of Actuaries of India (IAI) for the aspirants who wish to become actuaries. After clearing the entrance exam, you can register as a student member of the IAI and start your professional actuarial papers.
However, ACET is not the end of actuarial exams; it's just the beginning. After ACET, you get two choices - continue with AIA's professional papers or pursue exams from global organizations such as the Institute and Faculty of Actuaries, UK, or the Society of Actuaries, USA. All these exams will assess your mathematical, statistical, and analytical skills required for professional actuarial certification.
Here, we will discuss all the details about the differences between ACET and other actuarial exams, and many more aspects.
ACET vs Other Actuarial Exams: Overview and Purpose
There are multiple options available for you, other than ACET, to pursue actuarial papers. Here we will find out the differences and the purpose to help you choose the one that suits you the best.
ACET
ACET is an entrance exam designed to analyze your basic mathematics and analytical abilities. It is mainly for Indian students. The exam is conducted by the Institute of Actuaries of India (IAI). You can appear in the exam in March, June, and December every year.
The main purpose of ACET is to test your mathematical knowledge, statistics, logical reasoning, and data interpretation skills. It also determines if you have the aptitude necessary for actuarial studies. Also, the ACET is an eligibility exam to get the student membership with IAI.
Other Actuarial Exams
After clearing ACET, you can move to other professional actuarial exams considered by different bodies, such as -
- Institute of Actuaries of India (IAI)
- Institute of Faculty of Actuaries (IFoA), UK
- Society of Actuaries (SOA), USA
These exams assess your technical, professional, and application-based knowledge, such as Probability and Financial Mathematics, Actuarial Models, Risk Management, Insurance and Pension Systems, and Data Analytics and Business Strategy.
Related ACET 2025 Article Links
The purpose of higher-level actuarial exams is to check if you are professionally competent in risk assessment and management. It develops technical expertise for work in insurance, finance, pension, and investment sectors. Also, these exams certify you as a fully qualified actuary who can sign the actuarial reports and lead analytical teams.
| Parameter | ACET (IAI) | IAI / IFoA / SOA Higher Exams |
| Purpose | Entry-level eligibility exam | Professional qualification exams |
| Eligibility | 10+2 or equivalent | ACET cleared or direct entry (for IFoA/SOA) |
| Subjects Covered | Basic maths, stats, reasoning, English, data interpretation | Advanced actuarial science, economics, finance, risk theory |
| Level | Foundation | Intermediate to Professional |
| Outcome | Eligibility for student membership | Certification as an Actuary (Fellow/Associate) |
Difficulty Level & Exam Format Comparison between ACET and Other Actuarial Exams
If you want to know the difficulty level of all the actual exams, we have discussed it in detail:
- Exam Syllabus and Content
The ACET syllabus tests your fundamental mathematics and reasoning knowledge. The syllabus includes Mathematics (Algebra, Calculus, and Probability), Statistics, Data Interpretation, English, and Logical Reasoning. On the other hand, higher actuarial exams test your knowledge much more deeply. The syllabus includes Financial Mathematics (CT1/CB1), Probability and Mathematical Statistics (CS1), Risk Modelling and Survival Analysis (CS2), Business Economics (CB2), Actuarial Risk Management (CP1), and Specialist Technical & Specialist Application Subjects.
| Aspect | ACET | IAI / IFoA / SOA Exams |
| Syllabus Depth | Basic concepts | Advanced theoretical & practical topics |
| Mathematics Level | Class 12-level | Graduate/Postgraduate-level |
| Skills Tested | Aptitude & reasoning | Analytical, technical & professional judgment |
| Duration | 3 hours | Varies (1.5–3 hours) |
| Question Type | 70 Multiple Choice Questions | Written descriptive and numerical papers |
| Passing Marks | Around 50% | 55–60% (depends on paper) |
- Difficulty Level
The difficulty level of ACET is moderate. It's the same as an entrance exam for professional courses like CA or B.Stat. The difficulty level of IAI, IFoA, and SOA is very high. The global pass rate of these exams is 30% to 40%. If you are preparing for IAI or IFoA, you might require 6-8 years to clear all exams, depending on your preparation. On the other hand, ACET can be cleared with a few months of study.
- Exam Pattern
ACET is a CBT exam, containing Objective Type Questions with negative marking. Other exams, like IAI, IFoA, and SOA, contain subjective answers, case studies, and computational problems. Some may also include data analytics projects and virtual classroom assessments.
- Assessment Nature
ACET checks your ability to begin your actuarial studies, while other exams measure your ability to start your professional practice. The higher level actuarial exams focus on the application of thirty to practical financial problems, the Use of actuarial tools and software, and policy-making and risk management insights.
What Are the Next Steps After ACET 2025?
After clearing ACET 2025, you need to start your professional actuarial qualification. Here are the steps to follow:
- Register yourself as a student member of IAI.
Once you have cleared the ACET 2025, you can register as a Student Member with IAI. After registration, you can appear for the core Principle (CP) papers, such as CS1. CM1 and CB1.
- Start your Higher-Level Exams
You have to start preparing for higher exams as per the IAI's new curriculum structure. Here are the details:
| Exam Category | Purpose | Examples of Papers |
| Core Principles (CP) | Build a technical base | CS1, CS2, CM1, CM2, CB1, CB2 |
| Core Practices (CP) | Apply theoretical concepts | CP1, CP2, CP3 |
| Specialist Principles (SP) | Specialize in a chosen area | SP1–SP9 |
| Specialist Advanced (SA) | Advanced professional expertise | SA1–SA7 |
- Internship and Practical Experience
You are then required to gain work-based practical experience during or after exams. You must join internships in insurance, reinsurance, risk management, or financial sectors to learn how to apply theoretical learning in real cases.
- Achieve Fellowship or Associateship
After clearing a set of core and specialist principal papers, you can achieve the associate status. The fellowship status means you have gained the highest professional qualification. You will be authorized to certify actuarial reports and lead the decision-making roles.
- Career opportunities
After completing all your actuarial papers and gaining good experience, you can professionally work as an actuary and play various roles as a Risk Analyst, Pricing or Valuation Actuary, Data Scientist, Investment Analyst, Pension Consultant, and Chief Risk Officer. You can easily work with insurance companies, banks, pension funds, and consulting firms.
Conclusion
The Actuarial Common Entrance Test (ACET) is the foundation step to start your actuarial career. The exam is designed to check your knowledge of mathematics, logical thinking, and analytical ability. However, SCET is just the beginning. After clearing ACET, you need to study for high-level exams conducted by IAI, IFoA, or SOA. These exams prepare you to become a professional actuary.
