Without Late Fee: 6 February 2018
With Late Fee: 10 February 2018
ACET (Actuarial Common Entrance Test) is an entrance examination for candidates who wish to enroll as student members of Institute of Actuaries of India (IAI) and plan to appear in actuarial examinations of IAI. The application process for the ACET 2018 is started from 15 December 2017 for the ACET March 2018 Exam and the candidates can apply until 6 February 2018. In 2016, 5389 students appeared in ACET and 2495 of them got through. There are four stages in IAI Actuarial Written Examination (details are given towards the end of this page). This page provides the details on ACET eligibility criteria, application process etc.
Institute of Actuaries of India, the conducting body has made changes in the exam process, now it will happens twice in a year. Candidates can visit the official website of Institute of Actuaries of India (IAI) and fill the application form online by following the link given on this page below.
What is "Actuary"?
Person who skilled in determining the present effects of future contingent events or in finance modelling and risk analysis in different areas of insurance, or calculating the value of life interests and insurance risks, or designing and pricing of policies, working out the benefits recommending rates relating to insurance business, annuities, insurance and pension rates on the basis of empirically based tables and includes a statistician engaged in such technology, taxation, employees’ benefits and such other risk management and investments and who is a fellow member of the Institute.
Events |
ACET March 2018 Dates |
ACET Registration Starts |
15 December 2017 |
Last Date of Registration without late fee |
6 February 2018 |
Last Date of Registration with late fee |
10 February 2018 |
ACET Admit Card |
1 March 2018 |
ACET Exam Date |
March 2018 |
Academic Eligibility: The candidates applying for ACET must have appeared in Class 12 examination or an equivalent examination with English as one of the subjects in Class 12.
The ACET registration process for the ACET March 2018 Exam is started on 15 December 2017. The candidates are required to follow the link given below to apply online for ACET March 2018. The other important details are also given below.
Click Here to Apply Online
The candidates have to fill up the application completely, the fields marked with the asterisk are compulsory to fill. Upon successful completion of the registration, the candidates can download the welcome kit from the login download tab. However, the instructions to fill the application form is given below.
Admit Card will be available on the official website only for those eligible candidates who have submitted their duly filled application forms before the due date. No admit card will not be dispatched through the post to the candidates, so no correspondence in this regard will be entertained.
Candidates are advised to check the details like name of the students, exam centre, exam dates etc. on the printed admit card.Admit Card is an important document to be carried at the exam centre.
Application Fee: The ACET application fee for the Indian nationals and for other countries except for SAARC are different which is given in the table below
Category | Fee |
For Indian Students | Rs 3,000 |
For other countries Except for SAARC | Rs 12,500 |
The ACET March Result 2018 will be declared in the last week of March 2018. To check the result, enter your Candidate ID in the given window. The candidates who qualify for the exam will have to produce their original documents of the qualifying examination to Actuary Society of India for the procurement of membership number.
Negative Marking: There would be negative marking for incorrect answers. For every incorrect answer, half of the weightage of marks will be deducted. For instance:
Subject |
% of weightage |
Section 1- Mathematics, Statistics, Data Interpretation |
55% |
Section 2- English and Logical Reasoning |
45% |
The ACET examination consists of total five subjects. The question asked in the ACET examination from each section of the subjects given below.
Mathematics
Statistics
English:
Data Interpretation:
Logical Reasoning:
IAI Actuarial Exams are divided into two types, namely Written Examination and Practical examinations. The IAI Actuarial exams are conducted in four stages.
Stage of Actuarial Exam |
Subjects |
Stage 1 |
Core Technical (CT) |
Stage 2 |
Core Application (CA) |
Stage 3 |
Specialist Technical (ST) |
Stage 4 |
Specialist Application (SA) |
Stage 1: Core Technical (CT)
Stage 1 is a Core Technical stage that covers 9 subjects. Candidates are required to pass all subjects at this stage. The subjects included in stage 1 include;
Subject Code |
Subject detail |
CT1 |
Financial Mathematics |
CT2 |
Finance and Financial Reporting |
CT3 |
Probability and Mathematical Statistics |
CT4 |
Models |
CT5 |
General Insurance, Life and Health Contingencies |
CT6 |
Statistical Methods |
CT7 |
Business Economics |
CT8 |
Financial Economics |
CT9 |
Business Awareness Online Module(Practical Exam) |
Stage 2: Core Application (CA)
In the Core applications stage, actuarial concepts are covered. Candidate are required to pass all the three subjects at stage 2, subjects are:
Subject Code |
Subject Detail |
CA1 |
Actuarial Risk Management* |
CA 2 |
Model Documentation Analysis and Reporting (Practical Exam) |
CA3 |
Communication (Practical Exam) |
*Actuarial risk management is assessed by 2 papers each of three hours duration. The marks of the two papers are added together to give a single mark for CA1 Actuarial Risk Management.
Stage 3: Specialist Application (SA)
This stage builds on the Core Applications Stage but in individual specialism (non-jurisdiction specific). Candidates have to choose two subjects from the six subjects offered:
Subject Code |
Subject Detail |
ST 1 |
Health and Care |
ST 2 |
Life Insurance |
ST 4 |
Pension and other service benefits |
ST 5 |
Finance and Investment A |
ST 6 |
Finance and Investment B |
ST 7 |
General Insurance Reserving and Capital Modeling Specialist Technical |
ST 8 |
General Insurance Pricing Specialist Technical |
ST 9 |
Enterprise Risk Management |
Stage 4: Specialist Technical (ST)
This is the final stage of the examinations is one specialist (India-specific or other jurisdiction-specific to be allowed from a later date). The candidate has to choose the subject from:
Subject Code |
Subject detail |
SA1 |
Health and Care |
SA2 |
Life Insurance |
SA3 |
General Insurance |
SA4 |
Pension and Other Employee Benefit |
SA5 |
Finance |
SA6 |
Investment |
There is no requirement to have passed the corresponding specialist technical subject, however, the Specialist Applications subjects will typically assume knowledge of the corresponding Specialist Technical subject (SA5 and SA6 may each assume knowledge of both ST5 & ST6).
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