ACET 2024: Actuarial Common Entrance Test (ACET) conducted by Institute Actuaries of India since January 2012 held twice a year. Institute of Actuaries of India (IAI) is a statutory body that was established under the Actuaries Act 2006 for the regulation of the profession of Actuaries in India. Actuarial Profession is one of the most respected and prestigious professions in the world. In order to take financial decisions, the companies rely totally on the reports submitted by actuaries. Applicants should make sure that they fit well within the eligibility criteria specified by the conducting body for this exam before applying for it.
ACET 2024 Important Dates
For April 2024
|Registration Starting from||1st week of January 2024|
|Closing date for Registration||4th week of February 2024|
|Commencement of the exam||1st week of April 2024|
|Result Declaration||3rd week of April 2024|
|Last date to take admission||3rd week of May 2024|
For October 2024
|Registration Starting from||1st week of July 2024|
|Closing date for Registration||Last week of August 2024|
|Commencement of the exam||1st week of October 2024|
|Result Declaration||4th week of October 2024|
|Last date to take admission||3rd week of November 2024|
- Qualifying examination: Passed Intermediate from the recognized university of the board.
- Subject: English is counted as the mandatory subject in Intermediate & during the time of registration.
- Appearing candidates can apply for it.
- Applicants who studied at higher level education, working and holding a degree in the mathematical subject can also appear for the entrance exam.
- Graduate, degree holders in mathematical and statistical sciences, Management students, Engineering students, Postgraduate, Chartered and Cost Accountants, Company Secretaries, are also eligible to appear for the entrance
ACET 2024 Application Fee
- The registration fee for the entrance test is Rs. 3000/-.
- The Fee is non-refundable. Applicants can pay the fee only through online process.
- The duration of the entrance test will be 3 hours.
- The exam will have 70 multiple choice type’s questions will be of 100 marks.
- The questions of Section I will contain 55% of weightage and comprises of Mathematics, Statistics and Data Interpretation
- Section II will contain 45% of weightage and Section II consist of English and Logical Reasoning.
- There is a procedure of negative marking.
The distribution of marks is given below:
|45 Questions||1 Marks|
|25 Questions||2 Marks|
|05 Questions||3 Marks|
ACET 2024 Admit Card
- The hall ticket for April Exam will be available from last week of March 2024.
- Applicants can get the ACET Hall Ticket 2024 via online from the official portal.
- Without the hall ticket, applicants will not allow entering in the examination hall.
- Keep the hall ticket till the admission process is not over.
ACET 2024 Exam Centres
ACET 2024 Result/Rank
- Result 2024 will be declared online on the official website of the conducting authority on Last week of April 2024.
- ACET Result will be valid only for 3 years from the result declaration date for taking student membership of IAI.
Scanned Documents needed at the time of admission registration:
- Date of Birth ID Proof (Birth Certificate, Pan Card, Passport, School/College Leaving Certificate)
- Name Change Document (If Applicable)
- Photo ID Proof ( Pan Card, Passport, School/College Id Proof)
- 10th Mark Sheet
- 12th Mark Sheet
Applicants have to undergo with the ACET 2024 admission procedure, after passing the entrance exam.
- They have to register themselves again for the “Student Membership” on the official site by filling the “Student Membership Form”.
- Applicants take the printout of the Application cum Payment Confirmation Form and send it with the attested documents in the given address:
Institute of Actuaries of India,
302, Indian Globe Chambers, 142, Fort Street,
Off DN Road, Near CST (VT) Station, Mumbai – 400001
- Notation and standard functions
- Numerical Methods
- Permutations and Combination
- Measures of Location: mean, median, mode
- Types of Data: Statistical diagrams, bar chart, histogram, dot plot, stem-and-leaf, boxplot
- Measures of Spread: range, interquartile range, standard deviation, variance, Skewness
- Advanced Probabilities: tree diagrams, conditional probabilities
- Probabilities: basic rules of probabilities
- Discrete random variables: definitions, probabilities, mean, mode, median, standard deviation, variance, the coefficient of skewness
- Discrete Distributions: discrete uniform, Bernoulli, binomial, Poisson
- Continuous random variables: definitions, probabilities, mean, mode, median, standard deviation, variance, the coefficient of skewness
- Correlation: scatter plots, covariance, correlation coefficient
- Continuous Distributions: continuous uniform, exponential, the normal distribution
- Vocabulary Based (Synonyms Antonyms)
- Sentence Correction
- English Usage or Grammar
- Fill in the blanks
- Analogies or Reverse Analogies
- Cloze Passage
- Jumbled Paragraph
- Summary Questions
- Meaning-Usage Match
- Verbal Reasoning
- Reading Comprehension
- Facts / Inferences / Judgements
Vocabulary: Vocabulary questions test the applicant’s knowledge of the primary meanings of words, secondary shades of meaning, usage, idioms and phrases, antonyms, related words, etc.
Grammar: Grammar-based questions test the applicant’s ability to spot and correct grammatical errors. It should generally test knowledge of high school level grammar and includes areas like subject-verb agreement, use of modifiers, parallel construction, redundancy, phrasal verbs, use of articles, prepositions, etc.
Verbal Reasoning: Verbal reasoning questions are designed to test the applicant’s ability to identify relationships or patterns within groups of words or sentences.
Data is given in the form of tables, charts, and graphs. In this section, it is tested that how can you interpret the given data and answers the questions based on it.
- Bar Graphs
- Column Graphs
- Line Charts
- Venn Diagrams
- Pie Chart
Combination of two or more types linked to each other.
- Number and Letter Series
- Binary Logic
- Venn Diagrams
- Seating Arrangement
- Logical Connectives
- Blood Relations
Some important Books for ACET
- TOMATO (Test Of Mathematics at Ten plus Two-level published by ISI)
- ACTED Study Material by FAC and STATS PACK
- How to prepare for Quantitative Aptitude for the CAT by Arun Sharma
- How to Prepare for Verbal Ability and Reading Comprehension for CAT by Arun Sharma and Meenakshi Upadhyay, Mc Graw Hill
- Quantitative Aptitude for Competitive Examinations by Abhijit Guha
- Trishna’s Data Interpretation and Logical Reasoning for the CAT and other MBA Entrance Examinations
- Problem Primer for the Olympiad by C R Pranesachar, B J Venkatachala, C S Yogananda
- An Excursion in Mathematics by M. R. Modak, S. A. Katre, V. V. Acharya, V. M. Sholapurkar
- The Pearson and Guide to Verbal Ability and Logical Reasoning for the CAT by Nishit K. Sinha
- Quantitative Aptitude for MBA Entrance Examinations by R.S. Aggarwal
- High School English Grammar and Composition by Wren and Martin
- Challenging Mathematical Problems with Elementary Solutions by A.M. Yaglom and I.M. Yaglom
- Word Power Made Easy Editor by Norman Lewis
- Problem Solving Strategies Editor by Arthur Engel
- Challenge and Thrill of Pre-College Mathematics by New Age International Publishers