ACET

Those who does not fall into any of the above 18 categories to appear for The Actuarial Common Entrance Test (ACET) to become a student member of the Institute. The test is meant for young and smart brains to demonstrate their mathematical, statistical, analytical, communication and logical skills. A candidate clearing the ACET with 50% of the marks may be good to face all challenges of passing actuarial examinations. ACET is normally conducted 2-3 times in a year. The entrance examination is conducted only within India and the validity of passing the test will last for 3 years from the date of declaration of results.

Structure of ACET Examination:

Institute of Actuaries of India had started conducting its Entrance Exam which is ACET from January 2012, examination centres are available in all major cities in India.

During COVID 19 lock down times, ACET examination was conducted in Home Based Online Format, with effect from October 2020. In future, the test may be conducted either online or off line, as appropriate.

Salient features of ACET:

  1. ACET is a 3 hour, 100 marks online exam which has 70 multiple choice questions with one correct answer for each question.
  2. The distribution of questions will be:
    • 45 questions – 1 mark each
    • 20 questions – 2 marks each
    • 05 questions – 3 marks each
  3. The Allocation of Marks will be as under:
    • Mathematics – 30 marks
    • Statistics – 30 marks
    • Data Interpretation – 15 marks
    • English – 15 marks
    • Logical Reasoning – 10 marks
  4. ACET will be conducted in a single day with one slot.
  5. There will not be any negative marking for incorrect answers.

Syllabus:

Syllabus for ACET Examination covers:

  1. Mathematics
    • Notation and standard functions
    • Numerical Methods 
    • Algebra 
    • Differentiation 
    • Integration
    • Vectors 
    • Matrices
  2. Statistics
    • Permutations and combinations
    • 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
  3. 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
  4. Data InterpretationData 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
    Combination of two or more types linked to each other.
  5. Logical Reasoning
    • Number and Letter Series
    • Calendars
    • Clocks
    • Cubes
    • Venn Diagrams
    • Binary Logic
    • Seating Arrangement
    • Logical Sequence
    • Logical Matching
    • Logical Connectives
    • Syllogism
    • Blood Relations

The following reference books will strengthen the preparatonn for ACET Examination:

Note: The reference books are for guidance purpose and they may or may not cover the given ACET syllabus.

  1. TOMATO (Test Of Mathematics at Ten plus Two level published by ISI)
  2. How to Prepare for Verbal Ability and Reading Comprehension for CAT by Arun Sharma and Meenakshi Upadhyay, Mc Graw Hill
  3. How to prepare for Quantitative Aptitude for the CAT Editor: Arun Sharma
  4. Quantitative Aptitude for Competitive Examinations Editor: Abhijit Guha
  5. The Pearson and Guide to Verbal Ability and Logical Reasoning for the CAT Editor: Nishit K. Sinha
  6. Quantitative Aptitude for MBA Entrance Examinations Editor: R.S. Aggarwal
  7. High School English Grammar and Composition- Wren and Martin
  8. Word Power Made Easy Editor: Norman Lewis
  9. Problem Solving Strategies Editor: Arthur Engel
  10. Challenge and Thrill of Pre-College Mathematics by New Age International Publishers
  11. Challenging Mathematical Problems with Elementary Solutions Editors: A.M. Yaglom and I.M. Yaglom
  12. An Excursion in Mathematics Editors: M. R. Modak, S. A. Katre, V. V. Acharya, V. M. Sholapurkar
  13. Problem Primer for the Olympiad Editors: C R Pranesachar, B J Venkatachala, C S Yogananda
  14. Trishna’s Data Interpretation and Logical Reasoning for the CAT and other MBA Entrance Examinations
  15. ACTED Study Material – FAC and STATS PACK