The “Actuarial Common Entrance Test” (ACET) is an entrance exam for those who want to join as student members of the Institute of Actuaries of India (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 entry exam and can continue to appear for the various actuarial examinations.
ACET is a computer based exam that will be conducted twice every year – in the months of June and December. The next ACET is scheduled to be held on 2 & 3 December, 2015.
(Also read: Who is an actuary?)
In order to be eligible to appear for ACET and become a student member of IAI, you need to have appeared/ passed your 10+2 exam or its equivalent and have had English as one of your subjects in 10+2.
ACET is a 2 hour exam and consists of multiple choice questions (MCQs) with one correct option for every question. Incorrect answers will result in negative marking worth half the marks. There will be 55 questions in total worth 100 marks. The break up of questions and marks is:
ACET December 2015 will be conducted at 51 centres across 41 cities in India: