Aspiring to become an actuary and work in the finance sector, then ACET is an exam that helps you to realise the dream. The full form is Actuarial Common Entrance Test. This test is conducted by the Institute of Actuaries of India (IAI) twice every year.
This year, the first exam was conducted on 23rd June 2019 and another one is going to be conducted on December 15, 2019.
- What is ACET?
- Exam Highlights
- Important Dates
- Who is eligible for ACET?
- Exam Pattern
- Application Form
- Admit Card
- Exam Centers
- Cut off
- How to Prepare for ACET?
- Contact Details
What is ACET?
It is a university level examination which is conducted two times in one year. IAI (Institutes of Actuaries of India) is the leading specialist of Actuarial Common Entrance Test (ACET). Through the ACET 2019 test, you become a student of IAI (Institute of Actuaries of India). At IAI, as you take one test after another, you get the right stuff that makes you a full-fledged actuary. The work of an actuary is to handle risk management in Real Business Problems in finance.
- Change in the structure of ACET Exam: Institute of Actuaries of India (IAI) has been conducting the ACET Exam since 2012. There has been a change in the structure of the ACET exam since May 2016. So students are advised to go through ACET exam Structure carefully.
- ACET 2019 Conducting Authority: This test is conducted by the Institute of Actuaries of India (IAI) twice every year. IAI aims at promoting the knowledge and research in all the matters relevant to the Actuarial Science and promoting the status of the Actuarial Profession.
- Allowed Calculators in ACET 2019: Scientific Calculators are allowed in ACET 2019 exam. Calculators that are allowed in the exam are:
- Casio FX82 (ES/MS) (with or without any suffix)
- Casio FX83 (ES/MS) (with or without any suffix)
- Casio FX85 (ES/MS) (with or without any suffix)
- Sharp EL531 (with or without any prefix or suffix)
- Texas Instruments BA II Plus (with or without any suffix)
- Texas Instruments TI-30 (with or without any suffix)
- Hewlett Packard HP12c (with or without any suffix)
No other calculator Model is allowed in the exam. From this list, Casio FX82 (ES/MS), Texas Instruments BA II Plus and Texas Instruments TI-30 are available in India.
- ACET 2019 Exam Frequency: The test is conducted twice a year.
- IAI Online Admission Process: ACET qualified students need to follow further online admission process.
- Students who will qualify 23rd June 2019 ACET exam: Such students can register for student membership from 12th July to 24th July 2019. After getting student membership, students need to activate their account and choose what subjects they want to appear in for September 2019 exam in IAI.
- Students who will qualify 15th December 2019 ACET Exam: Such students can register for student membership from 4th January to 24th January 2019. For more details click on ACET 2019 Important Dates. After getting student membership, students need to activate their account and choose what subjects they want to appear in for March 2019 exam in IAI.
- ACET Results Validity: ACET Exam 2019 Results are valid for three years. Students can register for Student membership within three years.
|Exam Name||Actuarial Common Entrance Test|
|Conducting body of ACET 2019||IAI (Institute of Actuaries of India)|
|Exams of different levels in IAI after Clearing ACET (Future Actuarial Exams)||Core Technical (CT1 to CT9–Nine Papers), Core Application (CA1 to CA3 – three papers), Specialist Technical (ST0, ST1, ST2, ST4 to ST9) and Specialist Application (SA1 to SA6)|
|ACET 2019 Exam Level||National level|
|ACET 2019 Exam Date||December 15, 2019|
|Mode||Online( Computer Based Test)|
|Exam Duration||3 Hours|
Candidates have to understand that these dates are tentative and they may be subjected to change once if the official notification is out. The ACET 2019 exam dates will be different for both months i.e., June & December 2019. The expected dates are as follows:
|Registration starts||20th February 2019|
|Last date for registration||15th May 2019|
|ACET 2019 June exam date||15th June 2019|
|Result date||4th July 2019|
|Last date for membership admission for those who want to appear for November 2019 Examination||31st July 2019|
|Counselling process||August 2019|
|Registration starts||16th August 2019|
|Registration closes||31st October 2019|
|ACET 2019 December exam date||15th December 2019|
|Result announcement||3rd January 2019|
|Last date for membership admission for those who want to appear for June 2019 Examination||23rd January 2019|
|Counselling process||February 2019|
Who is eligible for ACET?
The student must have passed 10+2 examination or an equivalent examination with English as one of the subjects at 10 + 2 level. Those who are working or having qualifications in mathematical subjects can take up the exam.
English is a mandatory subject in 12th, the candidates who studied English will only eligible. The students who studied mathematics in their Graduation, post-graduation, engineering, management, CA, CS are also eligible to appear in the examination.
The candidates who will appear for this exam must prepare according to the syllabus given by the institute, students should not study anything extra other than this syllabus because questions will come as per the syllabus. ACET 2019 Syllabus will include the following subjects:
- Data Interpretation
- Logic-based questions
The aspirants will be attempting the Exam for 3 hours. The exam will incorporate the 100 Marks which all are divided into 70 questions. The exam will include two parts – part 1 and part 2. Part 1 will include the subjects of Mathematics, Statistics and Data Interpretation with 55% of the scores. Part 2 will include English and Logical Reasoning with 45% of the scores.
- Questions Type: The MCQ (Multiple Choice Questions) will be asked.
- Exam Mode: The ACET examination will be online (Computer-based) mode.
- Duration: The duration of the exam will be of 3 hours.
- Sections: There will be two sections for ACET 2019.
- Marking Scheme: Each correct answer will carry different mark for different sections.
- Negative Marking: For 1 mark question, 0.5 marks will be deducted, for 2 marks question, 1 mark will be deducted and for 3 marks question, 1.5 marks will be deducted.
|No. of Questions||Marks|
|45 questions||One mark each|
|20 questions||Two marks each|
|5 questions||Three marks each|
|No. of questions||Marking (for the correct answer)||Negative Marking|
The application form will be made available through online mode. The exam application form will be available in the third week of June 2019. ACET 2019 December application form will be made available by the third week of December 2019.
Candidates will have to upload scanned images of photograph & signature while filling the application form. Candidates will have to fill all the details carefully in the application form and submit it on time. At the last do not forget to take the printout of the ACET Application Form for future use.
Candidates can signup on the official website. Fill up the online registration form and make payment. After getting a confirmation mail at registered email id, students can use ACET login for further communications like Admit card Download, Admission, etc.
The ACET application fee will be paid through credit card/debit card/net-banking, payment can be done online. The fee payment for all categories will be Rs. 3000/-, including Sample Question Paper, Indicative Solution and Online Exam.
Those responsible for the announcement of admit card will make it known to anyone filling the registration form with the Payment of fee. It is going to appear online a week before the exam.
The admit card provided by officials is very useful for getting the admission procedures finished due to its incorporation with details including aspirant’s name, photograph, exam date, and center, etc. Aspirants have to carry the admit card with them until they are done with the exam. Those not holding hall ticket or call letter will be dismissed from the exam.
The admit card of students will be issued in the last week of February 2019 which applies to April and for October month, it will be provided on the December 1, 2019. Aspirants will get access to admit card by producing the required details.
Successfully Registered candidates can log in to their account to download their ACET 2019 Admit card. On the login page, you have to enter your registered Email id and password.
Forgot Password: If you forgot your password, click on forgot password on the login page. They will ask you to enter your registered email id. After entering registered email id, a link to reset the password will be available on your email id. You can reset your password and login to download your ACET 2019 Hall Ticket.
The Institute of Actuaries of India (IAI) conducts the Actuarial Common Entrance Test biannually at over 50 different ACET exam centers 2019. ACET 2019 was conducted on June 15th and applicants could appear for the test in different centers across 24 cities in India. This included all of the major metropolitan areas as well as other education hubs. Candidates could select their preferred test center and city at the time of registration. A change in any of the exam centers or the city is not permitted once it is specified in the admit card.
The documents that a person must carry to the exam hall are given below. Students must carry it, and if anyone fails to carry it, he or she will not be allowed inside the hall.
- Admit Card/ Hall ticket
- Identity Proof
- Passport size photographs
ACET 2019 Result will be published on the website a few days after the commencement of exams. IAI conducts the national level entrance exam of ACET two times in every year. The candidate who successfully qualifies the entrance test gets admission in various UG Management/Diploma Programmes offered the Institution. The entrance test is conducted in the month of June and December for admission into various professional programs in Actuaries.
- ACET 2019 Result Date: Result of those who gave exam on 23rd June 2019 will be available on 12th July 2019. The result of those who will give exam on 15th December 2019 will be available on 4th January 2019.
- ACET 2019 Result Merit List: ACET 2019 Result Merit List will be available on their official website. This merit list will show how many students have qualified. ACET merit list will have candidate ID and Candidate name of qualified students.
To qualify the exam candidates must have to secure at least 50% marks in the ACET 2019 entrance examination. The candidates who will score the marks equal or above then the cut-off marks will further be called for Counselling or admission procedure.
Shortlisted candidates must attend the Counselling Session and an Interview 10 days after the merit list will be displayed. The exact schedule for the ACET Counselling session will be informed separately, based on the performance in the written test. The students have to bring along with them the Statement of Purpose (SOP), certificates of extracurricular activities if any.
The seats in the various programs will be allotted based on merit - the ranking of the student and subject to fulfilling the minimum eligibility criteria for the program. The merit ranking is compiled at the end of each admission cycle. If the seats remain vacant another admission cycle is announced. The merit – ranking is arrived at by calculating the average of the score in the specified entrance test and the score of the personal interview.
- Students who will qualify 23rd June 2019 ACET exam: Such students can register for student membership from 12th July to 24th July 2019. For more details click on ACET 2019 Important Dates. After getting student membership, Students need to activate their account and choose what subjects they want to appear in for September 2019 exam in IAI.
- Students who will qualify 15th December 2019 ACET Exam: Such students can register for student membership from 4th January to 24th January 2019. For more details click on ACET 2019 Important Dates. After getting student membership, Students need to activate their account and choose what subjects they want to appear in for March 2019 exam in IAI.
Documents required for Counselling
- Photo ID Proof (Passport, Pan Card, School/College Id Proof)
- 10th Mark Sheet
- Date of Birth ID Proof (Pan Card, Birth Certificate, School/College Leaving Certificate, Passport)
- 12th Mark Sheet
- Name Change Document (If valid)
How to Prepare for ACET?
The candidate should be well versed with the ACET pattern and types of questions which will appear in the exam. And must be thorough with the ACET 2019 syllabus and topics in order to grasp the subject matter for the exam.
The candidate is advised to go through many practice problems in the subject areas listed under the ACET syllabus. This can be done through the help of the reference books recommended by IAI. The candidate must practice from the ACET 2019 sample paper after registration for the test. The answer key for the questions will also be provided after registration.
INSTITUTE OF ACTUARIES OF INDIA
Unit no. F-206, 2nd Floor, 'F' Wing in Tower 2,
Seawoods Grand Central, Plot no R-1,
Sector 40, Seawoods,
Near Seawoods Railway Station,
Navi Mumbai - 400 706
Boardline: +91 - 22 - 39686060
Fax: +91-22 – 39686050
1. How frequently will the entrance exam be held?
The exam will be held at least twice in a year. As of now, the planned months are June and December.
2. What is the eligibility criterion?
The student must have passed 10+2 examination or an equivalent examination with English as one of the subjects at 10 + 2 level. Working people can also take up this exam and candidates having qualification in mathematical subjects can take up the exam.
3. How much is the registration fee?
The registration fee for the entrance exam is Rs. 3,000 (three thousand only). This covers entirely the cost of one Sample Question Paper, Indicative Solution and Online Exam.
4. What is the mode of examination? Is it online or offline?
The exam is an online computer based mode of examination. It will be conducted in all the specified exam centres.
5. What is the structure of the Exam? e.g. Duration, distribution of questions, marks, and others.
ACET Exam will have multiple choice questions with one correct answer for each question. The exam will be for three hours. It is a 100 marks online exam which will have 70 multiple choice questions with one correct answer for each question.
6. Can we bring writing notepad to the exam centre?
No, you will not be allowed to carry blank sheets of paper to write. However, these sheets would be provided to you at the exam venue itself. You are not allowed to carry out any paper from the exam room.
7. When will the results be declared?
The results will be declared within 20 days from the date of the exam. The results would be available on the IAI website.
8. What happens after passing the exam?
If you have passed the exam you must follow an affirmation process. One has to take responsibility of all the information he or she discloses during this process.
Additionally, once your participation is acknowledged and you get the understudy enrollment id, you can buy in for the study material of your chose Core guideline subjects on the web. You can apply for the December 2019 Examination.