ACET 2021: Registration(Starts), Exam Pattern, Schedule, Syllabus, Eligibility, FAQs | EducationAsia.in

Actuarial Common Entrance Test (ACET) is an entrance exam conducted by the Institute of Actuaries of India (IAI), for those who want to join as student members of the IAI and plan to take & qualify in the various actuarial examinations conducted by the IAI. If you're already a member of the IAI, you are not required to take this entrance exam and can continue to appear for the various actuarial examinations. It is an online mode entrance exam to get admissions into various colleges that offer UG and PG courses of Actuarial Science.

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ACET Schedule 2021

ACET Admit Card

Admit card for ACET 2021 January session will release soon. Candidates need to go to the official site to download the admit card. Admit cards won't be sent to the candidates through post or by any other means. Admit card is mandatory to appear in the exam. you need to carry your admit card inside the examination hall to get permission for appearing in the exam.

ACET Syllabus

ACET exam contains 5 sections:

1. Mathematics:

• Numerical Methods
• Algebra
• Differentiation and Integration
• Vectors
• Matrices
• Notation and standard functions

2. Statistics:

• Permutations and combinations
• Types of data – Statistical diagrams, bar chart, histogram, dot plot, stem-and-leaf, boxplot
• Mean, median, mode
• Basic and advanced probabilities
• Range, interquartile range, standard deviation, variance, Skewness
• Continuous & discreet random variables
• Correlation
• Regression

3. English:

• Vocabulary 
• Grammar
• Fill in the blanks
• Analogies or Reverse Analogies
• Facts / Inferences / Judgements
• Verbal Reasoning
• Reading Comprehension

4. Data Interpretation:

• Tables
• Column & Bar graphs
• Pie charts & line charts
• Venn diagrams
• Caselets

5. Logical Reasoning:

• Number and Letter Series
• calenders & Clocks
• Seating Arrangement
• Logical Sequence/ Matching/ Connectivity
• Blood Relations
• Binary Logic

ACET Exam Pattern

Details:
Section I- Mathematics, Statistics, Data Interpretation
Section II- English, Logical Reasoning

Distribution among sections:

• 45 questions - 1 mark each
• 20 questions - 2 marks each
• 5 questions - 3 marks each

Negative marking - 50% of the total mark of question will be deducted with each incorrect answer.

ACET Cut-off

The candidates who want to have a career in actuarial sciences need to clear the cut-off for the ACET exam. The recent session for ACET was conducted on September 14th, 2019. The cut-off has released by the Institute of Actuaries of India (IAI) which is 50% i.e. 50 marks. This is the same cut-off as the previous year. Students clearing the cut-off can apply to various colleges offering actuarial sciences according to their individual eligibility criteria.

Application Form

Steps to fill up the application form for ACET:

• Got to the official site of ACET and fill up the registration form
• You will receive a confirmation mail with a link to proceed further
• Click on the link and fill in the necessary details, choose your preferred exam center, and required documents with asked size
• Proceed for a payment of Rs. 3000/- through debit card, credit card, and net banking
• You will get a confirmation mail in your e-mail id after a successful transaction.

ACET Counseling

Shortlisted candidates must attend the Counselling Session after the merit list is displayed. The exact schedule for the  ACET Counselling session will be informed separately, based on the performance in ACET. The seats will be allotted after merit of the ranking of the student and the eligibility criteria for the program. 
Students who have shortlisted for the September session can register for a membership from 4th January to 24th January 2019. After getting the membership the students need to activate their account and choose what subjects they want to appear in for March 2019 exam in IAI.

ACET Result

Result decides whether the candidate has cleared the cut-off and is eligible for counseling or not. c To check the results of ACET, candidates need to go to the official page of ACET, log in using email id and password, then check the result. Candidates can go to the official site and check their results.

ACET Answer key

The official answer key of  ACET  2021 will consist of the correct answers to the Entrance Test Questions. The answer key will be released soon after the commencement of the exam. The candidates will be able to get the answer key from the official website of ACET. After the release, the candidates will be able to evaluate their performance and score as per the answer key.

ACET Eligibility

The eligibility criteria for candidates applying for ACET are as follows:

• The candidates must have passed 10th and +2 or any equivalent qualification with English as one of the main subjects.
• Candidates who are working and having mathematical qualifications can also apply
• Postgraduate, Graduate, Engineering students, chartered, management students and cost accountants, company secretaries, degree holders in statistical sciences and mathematical etc, can also apply for the ACET.

ACET FAQs

Q: How many times the exam is held per year?
A: The exam is held 3 times per year tentatively around the month of June, September, and January

Q: Is there any relaxation in the application fee for reserved categories?
A: No, the application fee for ACET is same for every category candidates i.e. Rs. 3000/-

Q: Is there any sectional cut-off in ACET?
A: No, there is no sectional cut-off in ACET. It has one overall cut-off of 50%.

Q: How can I get the study material from the official website?
A: After successful payment of the application fee, a confirmation mail will be sent to your email id. Use the same login credentials used during registration to log into the official website to download the study material.

Q: Can I pay for ACET application form offline?
A: No, you can make the payment only through online mode with a debit card, credit card, and net banking.

Q: What are the cities available to give the ACET?
A: There are 24 cities available for a candidate to give the ACET:  Mumbai, Indore, Delhi, Nagpur, Kolkata, Ranchi, Bangalore, Kochi, Gurgaon, Bhubaneswar, Chennai, Dehradun, Pune, Patna, Hyderabad, Vizag, Jaipur, Ahmedabad, Surat, Lucknow, Guwahati, Chandigarh, Raipur, and Coimbatore.

Q: Is there any changes in ACET?
A: The major change in ACET is: There is no negative marking for an incorrect answer since the September session of ACET.

Q: Are calculators allowed in the exam hall for ACET?
A: For ACET, scientific calculators such as Casio FX82, Sharp EL531, Hewlett Packard HP12c, etc. are allowed.

Q: What is the time slot for ACET?
A: The time slot for ACET is fixed which is 10.00 AM to 1.00 PM

Q: What things I can carry inside the exam hall?
A: You can carry only the following things inside the examination hall:

• Admit card/ Hall ticket hard copy
• A photo id proof (Aadhaar card, driving license, voter id card, etc)
• A scientific calculator
• A pen/ pencil

Q: I am continuing my 12th, can I apply for ACET?
A: Yes you can apply. But after qualifying the exam, during the time of applying for IAI student membership, you should have qualified 12th.

Q: Where can I contact regarding any information about ACET?
A: You can contact ACET helpdesk at their official website or you can contact the telephone number of 022-62433333/3336.

Q: Are foreign nationals eligible for ACET?
A: No, IAI will reject the application of candidates bearing nationality other than India.

Q: What are the top colleges for Actuarial Science?
A: Top colleges offering actuarial science are:

• Kavayitri Bahinabai Chaudhari North Maharashtra University, Jalgaon.
• Bishop Heber College, Tamil Nadu.
• Amity University, Noida.
• Chandigarh University.
• Babu Banarsi Das University, Lucknow.

Q: What are the best books to prepare for ACET?
A: Books that will help qualifying ACET are:

• Test Of Mathematics at Ten plus Two-level by Indian Statistical Institute
• How to prepare for Quantitative Aptitude for the CAT by Arun Sharma
• Quantitative Aptitude for Competitive Examinations by Abhijit Guha
• High School English Grammar and Composition by Wren and Martin
• How to Prepare for Verbal Ability and Reading Comprehension for CAT by Arun Sharma and Meenakshi Upadhyay
• Trishna’s Data Interpretation and Logical Reasoning for the CAT and other MBA Entrance Examinations by Trishna Knowledge Systems
• How to Prepare for Logical Reasoning by Arun Sharma