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Actuarial Common Entrance Test

IAI is a statutory body established under The Actuaries Act 2006 (35 of 2006) for regulation of the profession of Actuaries in India. The provisions of the said Act have come into force from 10thday of November 2006, in terms of the notification dated 8th November 2006, issued by the Government of India in the Ministry of Finance, Department of Economic Affairs. As a consequence of this, the erstwhile Actuarial Society of India was dissolved and all the Assets and Liabilities of the Actuarial Society of India were transferred to and vested in, the Institute of Actuaries of India constituted under Section 3 of the Actuaries Act, 2006.

The erstwhile Actuarial Society of India (ASI) was established in September 1944. Since 1979 the ASI has been a Full Member of International Actuarial Association (an umbrella organization to all actuarial bodies across the world) and is actively involved in its affairs. In 1982, the ASI was registered under Registration of Literary, Scientific and Charitable Societies Act XXI of 1860 and also under Bombay Public Charitable Trust Act, 1950. In 1989, the ASI started examinations up to Associate level, and in 1991, started conducting Fellowship level examination leading to the professional qualification of an actuary, till then the accreditation was based on Institute of Actuaries, London examinations (now Institute and Faculty of Actuaries.).

ACET 2021 Exam Syllabus

The syllabus of ACET will contain subjects such as Mathematics, Statistics, Data Interpretation, English and Logical Reasoning. Candidates can study these subjects and the related topics to score well in the examination. The syllabus will include the questions for:

Section-I: Mathematics, Statistics and Data Interpretation having 55% of weightage.

Section-II: English and Logical Reasoning having 45% of weightage.

Syllabus for ACET Examination will include the following

Mathematics

  • Notation and standard functions
  • Numerical Methods
  • Algebra
  • Differentiation
  • Integration
  • Vectors
  • Matrices

Statistics

  • Permutations and combination
  • Types of data: Statistical diagrams, bar chart, histogram, dot plot, stem-and-leaf, boxplot.
  • Measures of location: mean, median, mode. Measures of spread: range, interquartile range, standard deviation, variance, Skewness.
  • Probabilities: basic rules of probabilities.
  • Advanced probabilities: tree diagrams, conditional probabilities.
  • Discrete random variables: definitions, probabilities, mean, mode, median, standard deviation, variance, coefficient of skewness.
  • Continuous random variables: definitions, probabilities, mean, mode, median, standard deviation, variance, coefficient of skewness.
  • Discrete distributions: discrete uniform, Bernoulli, binomial, Poisson.
  • Continuous distributions: continuous uniform, exponential, the normal distribution.
  • Correlation: scatter plots, covariance, correlation coefficient.
  • Regression

English:

  • Vocabulary Based (Synonyms Antonyms).
  • English Usage or Grammar.
  • Sentence Correction.
  • Fill in the blanks.
  • Cloze Passage.
  • Analogies or Reverse Analogies.
  • Jumbled Paragraph.
  • Meaning-Usage Match.
  • Summary Questions.
  • Verbal Reasoning.
  • Facts/ Inferences/Judgements.
  • Reading Comprehension

Vocabulary: Vocabulary questions test the candidate’s knowledge of the primary meanings of words, secondary shades of meaning, usage, idioms and phrases, antonyms, related words, etc.

Grammar: Grammar-based questions test the candidate’s ability to spot and correct grammatical errors. It should generally test knowledge of high school level grammar and includes areas like subject-verb agreement, use of modifiers, parallel construction, redundancy, phrasal verbs, use of articles, prepositions, etc.

Verbal Reasoning: Verbal reasoning questions are designed to test the candidate’s ability to identify relationships or patterns within groups of words or sentences.

Data Interpretation

Data is given in form of tables, charts, and graphs. In this section, it is tested that how can you interpret the given data and answers the questions based on it.

  • Tables
  • Column Graphs
  • Bar Graphs
  • Line Charts
  • Pie Chart
  • Venn Diagrams
  • Caselets

Logical Reasoning

  • Number and Letter Series
  • Calendars
  • Clocks
  • Cubes
  • Venn Diagrams
  • Binary Logic
  • Seating Arrangement
  • Logical Sequence
  • Logical Matching
  • Logical Connectives
  • Syllogism
  • Blood Relations

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