To attain the certification of an actuary in India, students need to qualify for the Actuarial Common Entrance Test (ACET) exam. One of the important sections of the ACET exam is its syllabus. It is an entry-level test which one needs to clear in order to join the Institute of Actuaries of India (IAI) as a student member and to gain the actuary certification. If you are aspiring to give this exam, here is a blog that aims to detail the ACET syllabus and its varied sections that you need to cover in order to ace the exam.
ACET Exam Highlights
|Exam Name||Actuarial Common Entrance Test|
|Conducting Body||IAI (Institute of Actuaries of India)|
|Frequency||Twice a year|
|Mode of Examination||Online|
|No. of Questions||70|
|Total Duration||3 hours|
|Marks Distribution||Mathematics- 30 Marks
Statistics- 30 Marks
Data Interpretation- 15 Marks
English- 15 Marks
Logical Reasoning- 10 Marks
|Weightage Distribution||45 Questions- Each of 1 Mark
20 Questions- Each of 2 Marks
5 Questions- Each of 3 Marks
This Blog Includes:
- ACET Exam Highlights
- ACET Exam Details
- ACET Exam Pattern
- ACET Syllabus
- ACET Exam Study Material
- ACET Sample Papers 2021
- ACET Free Online Mock Test
- How to Start the Online Examination?
- List of ACET Test Centres in India
ACET Exam Details
ACET is a compulsory exam in which candidates have to qualify to further appear in multiple actuarial exams offered by the IAI for the actuary certification. Further, it is an online-based examination that is organised thrice a year and at 24 centres around India to make it feasible for students from every state to appear in the exam. However, in 2021, the test will take place online at home. Here are some of the important details that you should be aware of before taking the test.
- ACET is a 3-hour paper that has 70 multiple choice questions with only one correct answer for each question.
- Once you register for the exam, you can download the sample question paper
- ACET exam is conducted in 24 centres in India.
- ACET exam is conducted on a single day with a single time slot.
- Passing marks for the ACET exam is 50%.
ACET Important Dates 2021
|Registration Begins||9th July 2021 (From 3:00 PM)|
|Registration Closes||26th October 2021 (Till 3:00 PM)|
|Date of Examination||11th December 2021|
|Date of Results||18th December 2021|
ACET Exam Pattern
The ACET exam consists of 70 MCQ type questions of 100 marks in total. The maximum duration of the test is 3 hours. The exam is bifurcated into 2 parts – Part 1 and Part 2. Part 1 will include Mathematics, Statistics and Data Interpretation containing 55% of the questions. On the other hand, Part 2 will include English and Logical Reasoning with 45% of the questions. The questions are of either 1, 2 or 3 marks. The distribution of marks as per the questions are as follows:
|Number of Questions||Marks|
|45||1 mark each|
|20||2 marks each|
|5||3 marks each|
|Marks for Correct Answer||Negative Marking|
|1 mark each||0.5 Mark|
|2 marks each||1 Mark|
|3 marks each||2 Mark|
The five sections of the ACET syllabus are Mathematics, Statistics, English, Logical Reasoning and Data Interpretation. These sections carry a different weightage of marks and are of equal importance as they focus on varied aspects. In the ACET syllabus, the sections of Mathematics, Statistics and Data Interpretation together hold 55% of the weightage of marks whereas English and Logical Reasoning contributes to 45%. To qualify for the exam, students need to score at least 50% marks in aggregate. The section-wise bifurcation of marks is as follows:
- Statistics – 30 Marks
- Mathematics – 30 Marks
- Data Interpretation – 15 Marks
- Logical Reasoning – 10 Marks
- English – 15 Marks
Let’s delve deeper into what each section of the ACET syllabus entails and the different topics you need to cover.
Since statistical applications are an incremental aspect of Actuarial Science, this section aims to evaluate candidates on the fundamental knowledge of statistical concepts. Take a look at the following which lists down the topics and their details covered under the section of Statistics in the ACET syllabus:
|Types of Data||Bar Chart, Histogram, Dot Plot, Statistical Diagrams, Stem-and-leaf, Boxplot|
|Probabilities||Basic probability rules|
|Measures of Location||Mean, Median and Mode|
|Measures of Spread||Range, Standard Deviations, Variance, Skewness, Interquartile Range|
|Continuous Random Variables||Mean, Median, Mode, Definitions, Variance, Coefficient of Skewness, Probabilities, Standard Deviation|
|Correlation||Scatter Plots, Covariance, Correlation, Coefficient|
|Continuous Distributions||Exponential, Normal Distribution, Continuous Uniform|
|Advanced Probabilities||Conditional Probabilities, Tree Diagrams|
|Discrete Random Variables||Definitions, Mean, Median, Mode, Variance, Coefficient of Skewness, Probabilities, Standard Deviation|
|Discrete Distribution||Bernoulli, Binomial, Poisson, Discrete Uniform|
|Permutations and Combination||–|
For this section of the ACET syllabus, basic and advanced mathematical concepts are put into question. Here is a list of varied topics you need to cover for this category:
- Numerical Methods
- Notation and Standard Functions
In ACET syllabus, the English section focuses on testing the verbal abilities of the candidates. From comprehension passages to cloze passages, the questions can focus on several basic concepts of English. To help you further, we have enlisted the topics you must study for this section in the following table:
|Sentence Correction||Vocabulary Based (Synonyms & Antonyms)|
|Fill in the Blanks||English Usage or Grammar|
|Jumbled Paragraphs||Reading Comprehension|
|Verbal Reasoning||Analogies and Reverse Analogies|
|Cloze Passage||Facts/ Inferences/ Judgements|
|Meaning-Usage Match||Summary Questions|
Moreover, to assist you in understanding the different concepts in this part of the ACET syllabus, we have detailed some major topics below:
- Grammar: Generally, these questions comprise of 10th standard grammar concepts like the use of modifiers, parallel construction, redundancy, subject-verb agreement, phrasal verbs, articles, prepositions etc.
- Vocabulary: It aims to test the candidates on their efficiency to crack the secondary shades of meaning, meanings of words, their usage, antonyms, related words etc.
- Verbal Reasoning: To evaluate candidates on their proficiency towards understanding the relationships or patterns between a group of words or sentences.
The section of Data Interpretation in the ACET syllabus comprises data-related tables and graphs that candidates need to analyze. Here is a list of different topics covered under this part:
- Line Chart
- Venn Diagram
- Pie Chart
- Column Graphs
- Bar Graphs
For Logical Reasoning, the questions can range from syllogism to seating arrangements. Here is a list of concepts encompassed by this part of the ACET syllabus:
- Number and Letter Series
- Venn Diagrams
- Logical Matching
- Blood Relations
- Logical Connectives
- Seating Arrangement
- Binary Logic
- Logical Sequence
ACET Exam Study Material
The following books are recommended by Institute of Actuaries of India to prepare for the ACET exam.
- Challenging Mathematical Problems with Elementary Solutions Editors: A.M. Yaglom and I.M. Yaglom
- How to Prepare for Verbal Ability and Reading Comprehension for CAT by Arun Sharma and Meenakshi Upadhyay, McGraw Hill
- Problem Solving Strategies Editor: Arthur Engel
- The Pearson and Guide to Verbal Ability and Logical Reasoning for the CAT Editor: Nishit K. Sinha
- TOMATO (Test Of Mathematics at Ten plus Two level published by ISI)
- Trishna’s Data Interpretation and Logical Reasoning for the CAT and other MBA Entrance Examinations
- High School English Grammar and Composition– Wren and Martin
- Word Power Made Easy Editor: Norman Lewis
- ACTED Study Material – FAC and STATSPACK
- Challenge and Thrill of Pre-College Mathematics by New Age International Publishers
- Quantitative Aptitude for Competitive Examinations Editor: Abhijit Guha
- An Excursion in Mathematics Editors: M. R. Modak, S. A. Katre, V. V. Acharya, V. M. Sholapurkar
- Problem Primer for the Olympiad Editors: C R Pranesachar, B J Venkatachala, C S Yogananda
- How to prepare for Quantitative Aptitude for the CAT Editor: Arun Sharma
- Quantitative Aptitude for MBA Entrance Examinations Editor: R.S. Aggarwal
ACET Sample Papers 2021
Here are the previous year question papers and their solutions shared IAI. Practice these questions to know your competency for the exam.
|Question Paper||Solution Key|
|June, 2019||June, 2019|
|September, 2019||September, 2019|
|February, 2020||February, 2020|
|October, 2020||October, 2020|
|January, 2021||January, 2021|
ACET Free Online Mock Test
With concern for the pandemic, ACET is conducting an online exam this year i.e. 2021. The exam will not be held at respective centres but at home. Here are some of the key points of the ACET Online Exam 2021.
- You will be provided with access to the exam platform.
- You will receive all the exam related information on your login portal 5 days prior to the exam i.e. 22 March 2021.
Technical Requirements for the Test
Since you need to take an online exam at your home, your computer/ laptop should be equipped with the following to take the test:
- Webcam with minimum resolution of 640*480
- Internet connection of 1 MBPS or more
- At Least 2 GB RAM in laptop/ computer
- Minimum 64 MB graphics card
- Operating system: Windows 10/ Windows 8/ Windows 7
- Latest Chrome Browser
- Net Framework
- You must disable all screen sharing, antivirus and windows firewall.
- Students will be responsible for any technical glitch/ data failure.
- You can keep a backup laptop.
- No extra break is allowed if a student’s laptop breaks down.
- If the webcam or microphone is disabled at any point, the script will not be evaluated.
How to Start the Online Examination?
Here is the entire examination process that you must follow during the online exam.
- Download and install the examination software shared with you on your login portal.
- Close all other applications, clear the cache, browser history and antivirus software.
- Once you open the app, you cannot access any other browser than the SEB application.
- Login to the exam 10 minutes before the test starts
- Check your details and confirm the details.
- The exam will start at 10:00 AM and you will not be able to enter after that.
- During the exam, you have to show your Government approved ID Card to complete verification.
- You can use scientific calculator but only these models of scientific calculators are allowed:
- Casio FX82 (ES/MS) (with or without any suffix)
- Casio FX83 (ES/MS) (with or without any suffix)
- Casio FX85 (ES/MS) (with or without any suffix)
- Sharp EL531 (with or without any prefix or suffix)
- Texas Instruments BA II Plus (with or without any suffix)
- Texas Instruments TI-30 (with or without any suffix)
- Hewlett Packard HP12c (with or without any suffix)
- All your activities will be monitored during the exam and will be recorded. Any discrepancy will lead to cancellation of your exam.
- After completion of the exam, you need to fill a survey shared to you via email.
- In case of any query, you can contact firstname.lastname@example.org
Also Read: Logical Reasoning Books For Competitive Exam
List of ACET Test Centres in India
The following list of centres is given by the Institute of Actuaries of India.
|Code||Centre Name||Code||Centre Name|
Thus, we hope that this blog has helped you comprehend the varied elements of the ACET syllabus. If you are aspiring to pursue a degree in Actuarial Science abroad, take the help of Leverage Edu’s AI tool to browse through a wide range of programs and institutions in this field and find the right combination that fits your interests and aspirations.