ACET entrance on Feb 29

The Institute of Actuaries of India (IAI) has started registration for the Actuarial Common Entrance Test (ACET) at its official website, actuariesindia.org. The exam will be held on February 29, 2020, from 10 am to 1 pm. The Institute of Actuaries of India (IAI) is a statutory body established under The Actuaries Act 2006 for regulation and development of profession of Actuaries in India.

Actuarial science is a discipline that applies mathematical and statistical techniques to price, value and assess risks in multiple areas such as insurance, pensions, banking and other enterprises.

“The scope and role of Actuaries has increased considerably over the years. There is an ever-increasing need for professionally trained actuaries. Actuarial skills can be used across all financial services and students may also look at the opportunities beyond insurance in the area of banking, investments, data science and analytics. As per the Actuaries Act, 2006, an Actuary in India is a fellow member of IAI. Success in examinations conducted by the Institute of Actuaries of India is the route to becoming a qualified actuary in India”, says Sunil Sharma, President, Institute of Actuaries of India.

Exam pattern

To become a student member of the IAI, one needs to clear the ACET, which is a computer-based objective test available to students after Plus II examinations. Once the student clears the ACET, he/she can start taking actuarial examinations at his/her own pace. Examinations are held twice a year.

The ACET is a three-hour-long test having 70 multiple-choice questions (MCQs) for 100 marks. Of the total, 45 questions will be for one mark while 20 and five questions will be for two-and-three marks, respectively. The exam will assess students across mathematics (30 marks), statistics (30 marks), data interpretation (15), English (15) and logical reasoning (10). TNS