actuariesindia.org ACET 2014 Actuarial Common Entrance Test IAI : Institute of Actuaries of India

Name of the Organisation : Institute of Actuaries of India (actuariesindia.org) IAI
Type of Announcement : Actuarial Common Entrance Test ACET 2014

ACET Registration Form here : actuariesindia.org/ACET%2…ster_form.aspx
http://www.actuariesindia.org/subMen…?id=4&val=ACET
Home Page : http://www.actuariesindia.org/index.aspx

ACET – “Actuarial Common Entrance Test” is applicable to those who plan to enroll as student members of IAI and wish to take actuarial examinations from the IAI. Members who have been already admitted to the IAI are not required to take this entry exam and can continue to take their actuarial examinations as earlier.

IMPORTANT DATES : ACET6_June 2014
Registrations Start 1St March 2014
Registrations Close 7Th May 2014
Attest Booking 14Th – 28Th May 2014
Date Of Exam 13Th & 14Th June 2014
Date Of Results 26Th June 2014
Last date to take admission (If wanting to appear for Nov, 2014 Exam Diet) 10th July 2014

What is the eligibility criterion?
The only eligibility criterion is that the examinee must have passed 10+2 examination or an equivalent examination with English as one of the subjects at 10 + 2 level. Nevertheless, it is expected that many of those who are already in education at higher levels and also those working and having qualifications in mathematical subjects would take up the examinations. For example engineering students or professionals, chartered and cost accountants, company secretaries, management graduates, degree holders in mathematical and statistical sciences etc are expected to take this exam.
If an examinee clears the examination and subsequently applies for membership, their membership acceptance would be subject to production of attested true copies of certificates that would be subject to independent verification.

How much is the registration fee?
The registration fee for the entrance exam is Rs 3,000 (three thousand only). This covers the cost of the study material, the online exam and the online tutorial. The registration fee once paid is neither refundable nor can it be carried forward for the next ACET. You are therefore requested to make considered decision to take up the examination and only then register.

What is the mode of examination? Is it online or offline?
It is a computer based examination where the examinees have to be present at t heir chosen testing centre administered initially in forty one cities within India at 53 centers.

What is the structure of Exam? e.g. Duration, distribution of questions, marks and others.
The exam will have multiple choice questions with one correct answer for each question. The exam will be conducted online at a pr e-selected test center at a specified time on either one of the 2 days selected by you. The exam will be for two hours and the candidate would be presented 55 questions of 100 marks and the distribution of questions would be:
1. 25 questions – 1 mark each
2. 25 questions – 2 marks each
3. 05 questions – 5 marks each

Where can I look for syllabus for the exam?
The syllabus is available on IAI website. You will be able to download the detailed study material once you register for the examination.

How can I register for the exam? Please mention step by step process, if possible.
IMPORTANT NOTE:
While registering kindly use Browsers, Mozilla Firefox, Google Chrome, Internet Explorer (7+ higher version).
The fields marked with a red asterisk are compulsory and cannot be left blank.
Step 1 – Go to IAI website and signup at http://www.actuariesindia.org/login.aspx.
Step 2 – Fill up the online registration form and make the pay ment online. Before you make the payment, make sure all your details are correct because no subsequent changes would be possible thereafter.
Step 3 – On successful completion of payment, you would be able to download the study material from your login download tab using the same id and password you had used for online ACET registration. You will also receive an e- mail at your registered e-mail address confirming your registration and successful payment. (Inform us immediately, in case, you do not receive it). Kindly take a printout of your ACET online Registration Form.
Step 4 – 15 days after the last date of close of registrations, you will receive an email from ATTEST asking you to select your test centre, date (any one day) and time slot for the exam. You will need to print the admit card and carry it to the exam centre. Without which, you will not be able to appear for the exam.

Is there any penalty (Negative Marking) for wrong answers?
Yes, there would be negative marking for incorrect answers. The incorrect answer will deduct half of the weight age of marks e.g. for an incorrect answer to a 1 mark question 0.5 mark will be deducted and for an incorrect answer to the 5 marks question 2.5 marks will be deducted.

What happens after passing the exam?
If you are amongst the successful candidates, you need to fill the ACET Student Membership Form.
(Available on the IAI Website) and send it to IAI along with the required documents.
Note that your membership acceptance would be subject to production of attested true copies of your education certificates that would be subject to independent verification.
Also once your membership is accepted and you receive the student membership number, you can subscribe for the study material of your selected CT subjects online. You can apply for the MAY 2014 or any of the later actuarial exams.

How will IAI contact me after registration?
Please see Q7 for details of the registration procedure. If you don’t receive any communication from IAI after the registration process, please contact the ACET Helpdesk at acet@actuariesindia.org or 022-67843355/3302

What do I need to carry to the exam centre?
1. You will need to carry your Exam Hall Ticket.
2. A government issued photo Id proof (UID card, driving license, passport, voter ID card or PAN card), in original.
3. In case of 12th class students they can carry 12th class exam hall ticket or college ID card duly attested in original.
4. An approved scientific calculator (refer Q12) and some blank sheets of paper and pens for rough calculations. Note that your entry to the examination hall would be subject to verification of your valid ID proof.
The IAI or the exam center will not supply any of these materials at the exam venue. You will not be allowed to carry any material other than those specified above in the exam center. No mobile or any other kind of communication medium will be allowed inside the exam hall. You are not allowed to carry any paper from the exam room. The rough sheets used should be destroyed after the exam within the exam room.

Contact Postal Address:
INSTITUTE OF ACTUARIES OF INDIA
302, Indian Globe Chambers,
142, Fort Street, Off D N Road, Mumbai – 400 001