Candidates who wish to become a student member of Institute of Actuaries of India are required to qualify the online entrance test conducted by the Institute. The entrance exam called as Actuarial Common Entrance Test or ACET comprises of objective type questions from Mathematics and Statistics. Higher secondary education with English as one of the subjects is the basic educational qualification required for this exam. One has to apply online for this exam.

Exam pattern of Actuarial Common Entrance Test

Actuarial Common Entrance Test is conducted by Institute of Actuaries of India in online mode across the country. The exam comprises of two papers such as Mathematics and Statistics. There will be a total of 55 multiple choice objective type questions in the exam. Of these 25 questions carry one mark each and next 25 questions carry 2 marks each. Last 5 questions carry 5 marks each.  Candidates will be allotted 2 hours to answer all questions. Maximum marks allotted for the exam is 100. Half mark will be deducted for each wrong answer. Candidates are allowed to use scientific calculators in this exam. Detailed information regarding this can be obtained from the official website of Institute of Actuaries of India.

Syllabus for Actuarial Common Entrance Test

Detailed Syllabus for Mathematics

• Mathematical Notation, Terminology and Methods
• Numerical methods
• Mathematical Constants and Standard Functions
• Algebra
• Calculus

Apart from these above mentioned topics, questions will be asked to check  knowledge regarding Currency system of foreign countries, English Vocabulary etc.

Detailed syllabus for Statistics

• Permutations and combinations
• Statistical diagrams
• Measures of location
• Measures of spread
• Probabilities
• Discrete random variables
• Continuous random variables
• Discrete distributions
• Continuous distributions
• Correlation
• Regression

Application Procedure for ACET

Candidates who have passed higher secondary examination from a recognized board of studies with English as a subject are eligible to apply for this exam. Apart from this, working professionals who have the required qualification in Mathematics can also apply. Candidates are required to apply online from the official website of Institute. They will have to pay Rs. 3000/- as examination fee. Fee payment can be made online only. Those who have successfully remitted the examination fees will be able to download the study material from the website. Candidates who have successfully submitted the application will receive a confirmation message via email. Candidates are required to take a print out of the system generated registration form for future reference.

After 15 days from the close of registration, candidates will receive an email regarding exam center and time slot for the exam.