Actuaries are known for problem solving skills all across world. Are you dreaming of being a part of this reputed Profession called Actuary?
Institute of Actuaries of India is an Indian Actuarial body conducting 13 exams for you to become a Qualified Actuary. Due to Covid-19, there are online Actuarial exams conducted in March & November. It also conducts webinars/workshops so that students can develop knowledge required by corporates.
Actuarial Common Entrance Test (ACET) is the entrance exam for Institute of Actuaries of India (IAI). If ACET is cleared, student gets the chance of becoming a student member of IAI and he/she can give further exam of Actuaries. It is conducted quarterly, generally in the months of January, March, June & November/December. Students who have cleared 11th class can give ACET.
Exam Registration fees is 3000. It can be paid via online mediums or debit/credit card. Link: http://www.actuariesindia.org/ACET%20module/acet_register_form.aspx
There is no negative marking for wrong answers. Passing marks is 50% but might vary depending on difficulty level of exam. There is no sectional cut-off. It is a 3 hour exam with 70 Multiple Choice questions and rest questions would be subjective. Hall ticket can be procured by student login. Past papers can be downloaded from IAI website linked below.
Important dates for upcoming exams are as follows:
Date for: December 2021 ACET
Registrations starts: 27th August 2021 from 3pm
Registrations closes: 26th October 2021 upto 3pm
Exam: 11th December 2021 (10am – 1pm)
Results releases: 18th December 2021
All timings are as per Indian Standard Time (IST). Results are declared to student via SMS or student login on website. More details: http://www.actuariesindia.org/subMenu.aspx?id=4&val=ACET
Following can be considered as exemption from ACET:
• Any candidate who passed the final examination conducted by Institute of Chartered Accountants of India or Institute of Cost Accountants of India or Institute of Company Secretaries of India
• MBA in finance (minimum 60% or equivalent grade) or IIM graduate.
• BSc/MSc in Actuarial Science from reputed Institute/colleges
• B.E from reputed institute (minimum 60% or equivalent grade) or IIT graduate
• Passed two papers from other Actuarial bodies ie. IFoA, SoA, CAS, ASSA, IAAust
• Fellow member of Insurance Institute of India
• Qualified 1st year Bsc. or Msc. Actuarial Science from Amity University
• Graduation and Post-Graduation Diploma in Actuarial Science (PGDAS) from Gujarat University
• Graduation and Post-Graduation Diploma in Actuarial Statistics
• BCom in Actuarial Management Affliated to Bharathiar University
• Bachelor of Statistics or Mathematics (Honours) from Indian Statistical Institute
• Master of Statistics or Mathematics from Indian Statistical Institute
• Master of Science in Quantitative Economics (MS QE) from Indian Statistical Institute
• Master of Science in Quality Management Science (MS QMS) from Indian Statistical Institute
For more details, you can refer this link: http://www.actuariesindia.org/admission.aspx
Let us know if you have any doubts. In the next article, we will describe how to apply for membership from IFOA.