ACET 2019: Application, Dates, Fees, Eligibility, Syllabus, Tips & Books

Have you completed your 12th board and is not able to decide on the course that you can look for. You are not the only one who is undergoing stages of confusion. Students after completing their school level exams with pcm subjects feels that they engineering is the one and only option. However, it is not so as a lot more avenues are open for them. It can be said that students need to choose a course which suits their skills.

ACET 2019

You need to know that the field that interests you and choose course accordingly. If you have got amazing analytical skills then you can try out a course in Actuary. Now, what is this actuary? Actuary is a field whereby a person has to analyse the risk that a business generally encounters. These risks are basically related to finance or resource allocation.

If you complete a course on actuary then you will get a chance of getting employed in insurance industries. Apart from it one can even get recruited in Bureau of Labour Statistics. This article will give you a detail regarding the way in which you can apply for actuary courses.

What is ACET?

ACET refers to Actuary Common Entrance Test which can give you an opportunity to join actuary courses after your graduation or 12th exam. This exam is mainly conducted by the Institute of Actuaries of India. Every year large number of students appears for this exam for getting admission in the professional courses of actuary.

It is to be noted that one need to fulfil certain eligibility criteria for sitting for this exam. The candidates are required to have mathematics, statistics or economics as their subjects in their 12th standard or in graduation level. This exam can often be taken as similar to that of British model for the technical exams. ACET is conducted two times in a year. First it is conducted during the month of October-November and the next it is arranged in the month between May to June.

This exam is mainly divided into parts that is; one is entrance test and the other is core technical paper. If you are not able to appear in the entrance test then you are not held eligible to proceed with the next paper which is technical. It is mainly conducted though online mode. Students have to solve multiple choice type questions. ACET is arranged in almost 24 places across India.

How to apply?

If you want to apply for this exam then you need to register your name and other details on the official website of ACET. After registration candidates have to fill up the application form. In case you face any problem you can check the procedures given below:

  • First log in to the official website.
  • Candidates will find a link of registration 2019 for the new candidates. Click on it.
  • The educational as well as personal details are required to fill properly.
  • After filling up the details, next one needs to upload scanned photos. While uploading photos candidates has to strictly follow the guidelines.
  • Next, candidates need to pay application fees which can be paid via credit or debit cards and also through net banking.
  • Students will receive a confirmation mail upon successfully paying the fees. The application form is to be printed as it needs to be presented during admission.

How much is the application fee?

  • Candidates have to pay a fee of rupees 3000 for registration.
  • The fee will include price of a sample paper, exam fee and also fees for indicative solution.
  • Students need to use a credit card or opt for net banking for paying the fees.

What are the eligibility criteria?

Not everyone who is registered for ACET can get a chance to appear for the exam. The IAI has formulated certain criteria for selecting candidates. Those who want to appear in the ACET for the year 2019 can take a look at the below mentioned criteria for your guidance.

Educational Qualification:

  • Candidates need to complete their 12th exam from a recognised board.
  • Students who want to sit for ACET 2019 have to ensure that they have passed their 10+2 with Mathematics, Statistics or Economics. They also need to make sure that English should be one of their subjects. Otherwise a candidate will be held ineligible for this exam.
  • The persons who are employed can also sit for this exam.

Membership eligibility:

  • Once you successfully complete your exam then you have to apply for membership. In this type of membership a student can get further opportunities for appear in the exams that are conducted during March.
  • In order to become a member you need to fill up a membership form. Students have to upload attested documents of your educational qualification.

ACET 2019: Important dates

The candidates who are going to appear for the ACET 2019 have to remember some important events. The below mentioned dates can help the students to know about the important dates of admission, issue of application form, exam dates etc.

This exam is conducted in two phases the first table will give you detail regarding exam which is to be conducted in the month of June and the second table will contain exam details for exam which is to be conducted in the month of December.

 

Important events Dates to remember
Exam date Week 1st, 2019(April)
Registration Week 1st ,2019(January)
Commencement of admission(last date) Week 3rd ,2019(May)
Last date of registration Week 4th ,2019(January)
Result Week 3rd , 2019(April)

 

Events Dates
Admission Week 3rd ,2019(November)
Result Week 4th 2019(October)
Commencement of registration Week 1st 2019, (July)
Last date of registration Last week,2019(August)
Admission(last date) Week 3rd  2019(November)

 

List of important books for preparation

One of the common questions that students usually ask is what are the books that can help in the preparation of ACET? It is quite important to prepare yourself for the exam in such a way that you can get maximum chance of selection. With the increase in competition each and every student put lot of effort for securing good marks.

However, for ensuring that a student is able to continue his/her preparation in the right track they need guidance. This guidance can be taken from the books that are published by eminent authors.

Here is a list of books that a student can take help for successfully appearing in their ACET 2019.

  • An Excursion in mathematics by V.M .Sholapurkar, M.R. Modak , V.V Acharya
  • Test of Mathematics At ten plus Two level by the ISI(TOMATO)
  • Word Power made Easy Editor by Norman Lewis
  • How to prepare for Verbal ability and reading Comprehension for CAT  by Meenakshi Upadhay, Arun Sharma, Mc Graw Hill
  • Problem Primer for the Olympiad by  BJ Venkatachala , CS Yogananda, CR Pranesachar
  • Problem solving strategies Editor by Arthur Engel
  • The Pearson and guide to verbal Ability and Logical Reasoning for the CAT by Nishit.K Sinha

The above mentioned books can be taken as guidance for all those who want to increase their score in the upcoming exams. It is really going to help the students to gain knowledge regarding the question patterns that are generally asked in the exam.

Know the syllabus

Before you approach with the question patterns and other considerations you need to go through the syllabus. This is because syllabus can help the students to understand the areas where they need to work on for passing ACET. Syllabus of ACET has been categorised into two broad classes and it include logic reasoning and English and the other comprises of data interpretation and mathematics and statistics. If you wish to qualify for this exam then it is important to get at least 55% in statistics, data and mathematics and 45% in English.

Syllabus for each of the subjects has been given below –

Verbal reasoning

This arena generally contains question that are meant to identify a student’s capability to understand relationship between sentences or group of words.

Vocabulary

It is another important part of consideration. Students have to learn the idioms, word meaning, antonyms and synonyms. It will basically check whether a student is able to show adequate knowledge regarding vocabulary.

Mathematics

This is perhaps one of the important subjects that are considered in this exam. The topics that are generally covered in this subject can be taken as similar to that of 10+2. Generally, the students are required to practice algebra, notation function matrices and some other standard functions.

Grammar

The examinees will have to complete questions on grammar. There will be questions that will try to test a candidate’s ability to find out the difference between incorrect and correct grammatical sentence structures. The level of the grammar is related to high school level. Candidates have to prepare topics on phrasal verbs, articles, subject-verb agreement, prepositions etc. This indicates towards the fact that an examinee is required to gain a thorough knowledge of grammar otherwise it will be difficult for them to pass the exam.

Statistics

Apart from Mathematics a students also have to complete a paper on statistics. Here is a list of topics that a student is required to prepare has been given below:

Probabilities: Rules associated with probability.

Discrete distribution: Poisson, discrete uniform, binomial c.

Data: Bar chart, dot plot, statistical diagrams, stem-and-leaf boxplot.

Advanced probabilities: Conditional probabilities and tree diagrams.

Continuous distributions: Normal distribution, continuous uniform and exponential.

Location: mode, mean, median

Correlation: Scatter plots correlation coefficient etc.

Data Interpretation

This forms another subject in the syllabus of ACET. You will be given a list of data that is to be interpreted with the help of charts and tables. This section of the syllabus is going to test whether a student is able to show interpreting skills or not. In the course of actuary it is important to know about the techniques of interpretation as there will be time when one needs to undergo such interpreting situations. The question will be based on questions that are asked from venn diagrams, pie chart, tables, caselets etc.

Logic reasoning

In this subject one need to solve questions based on the logic. There is a list of topics that are covered in this section

  • Syllogism
  • Logical matching
  • Blood relations
  • Letter series
  • Number series
  • Cubes
  • Binary logic
  • Logical connectives
  • Logical matching
  • Venn diagrams
  • Calendars
  • Seating arrangement
  • Clocks

It can well be said that if a student is able to go though the above mentioned syllabus then they will be able to score good marks in this exam. In case the candidates find any difficulty in understanding the syllabus then they can check the official website.

Subjects to be prepared

Actuarial science is completely based on the skills of mathematics and logic. Both of these subjects are considered to be a crucial part of this exam. If you are finding it difficult to solve problems of maths then you should give actuary a second thought. Nonetheless those with excellent skills in mathematics should definitely opt for this exam. This is because a degree in actuary can open good opportunities for them.

Earlier ACET only has mathematics and statistics as its subject but data interpretation and English were later added. In order to prepare for this important exam one need to get a thorough knowledge about the subjects that they need to prepare for ACET2019. The subjects that are covered in the syllabus of ACET have been enlisted below:

  • Mathematics
  • Logic
  • English
  • Statistics
  • Data Interpretation

The above mentioned subjects need to be studied thoroughly for successfully appearing for ACET. Among these five subjects mathematics is perhaps the most crucial subjects. In order to qualify for this exam it is quite essential to get minimum qualifying marks in all of the subjects.

If you fail in any of the above mentioned subjects then you will not get a chance to sit for technical papers. Those who intend to get high ranking in ACET should consult reference books of mathematics or logic that can help them out to provide them with some guidance.

There are different reference books available for each of the five subjects and it should definitely help them a lot in exam preparation. One does not need to prepare separately for Mathematics and statistics as there are some parts of statistics that are covered in Mathematics.

What is the cut-off mark?

Cut off marks can be defined as the actual qualifying marks that determine whether a student is able to qualify for this exam or not. Students will generally ask this question that how much is the cut-off. Well, there is no such specified qualifying marks or each of the subjects. Nonetheless, you need to pass in each of the subjects.

To your amazement there are no cut off marks for ACET. But it does not mean that you will be free to get admission in actuary courses with any sort of marks you get. It is mandatory to score 50% marks in the overall percentage.

How to prepare for ACET?

One thing should be clear to all the ACET aspirants that they should opt for this exam only if they have interest in mathematics otherwise not. Problems solving skill is what is looked for in this exam. Well, after registering and filling up the application form you might be thinking of this question that what are tips that you can inculcate in your study plan for appearing in ACET with flying colours? There are no such strict rules that can help a student to taste the fruit of success. However, it is only your hard work that will take you close to the pillar of success.

Here are some tips which might allow a student to get a guideline for starting with their preparations.

  • Firstly, you need to manage your time. It is better to prioritise time in accordance with each of the subjects.
  • Make a study plan whereby you can prepare a time table for fixing the study time.
  • Students can set up realistic goals so that they are able to complete each of their subjects on time.
  • ACET aspirants are required to take a look at the previous year’s question papers for getting an idea about the question patterns and marks allotment.
  • In order to manage your time you can take down notes as you go through a subject.
  • Mock tests can be regarded as one of the most suitable as well as effective way to prepare for the exam. Mock test can help a candidate to give a demo of the actual examination.
  • Students often get nervous which creates major influence on their performance. So, it is recommended to relax your mind through meditation.
  • Alongside studies you need to take out some time for doing physical exercises. Physical exercises are known to reduce anxiety and tension.

Know the question pattern

ACET is of three hours duration. It is conducted with the help of online mode. Generally, objective type question patterns are given. The total marks allotted for this exam is 100. Once the students get an idea about the questions patterns then they will be able to understand that the areas where they are required to work.  Questions patterns are to be assimilated properly so that candidates do not face any problem while continuing with their preparation.

For the convenience of the students the question patterns have been provided below in a tabular format.

List of subjects Marks No. of questions
Logical Reasoning 15 5
Data Interpretation, mathematics, Statistics 45 45
English 40 20
Total 100 70

 

Get details of Admit Card

After completion of registration and application procedures next, a student has to keep a close track on the website for issue of admit cards. The details regarding admit cards can be obtained within a period of 4 to 15 days after registration. You will get an email from ACET whereby they will ask you to give details regarding time slot and exam centres.

After specifying about your exam centre as well as date of exam the candidates can download their admit cards. One needs to make sure that they book slots on time. The reason being after completion of the slot a student cannot get a chance to get their admit cards.

For continuing with the procedure of collecting admit cards a candidate is required to submit identity proofs like PAN card, Aadhaar card, Voter ID card or any other proofs. The candidates who are appearing for ACET after completing their 10+2 are required to provide 12th admit cards that carries a photograph of the candidate. All the documents should be attested. If any of the aspirants are unable to submit their documents on time.

What is the counselling procedure?

Successful students have to undergo counselling procedures. The IAI will publish a merit list that will specify the names of students who can take part in counselling. In case your name do not appear in the merit list you will not be held liable to continue with the counselling process.

The counselling procedures are different for the two exam phases. Here are some details regarding counselling for ACET below:

  • The candidates who have qualified in the exam which will be conducted in the month of July can have to look in to website for getting all the relevant details regarding counselling dates. Firstly, candidates are required to activate accounts and have to select subjects that are going to choose for appearing in their technical papers, which will be held on September.
  • After qualifying the exams which is organised in the month of December, the candidates can apply for student membership. In order to get details regarding the membership one need to check the official website. In this phase of counselling students have to again give details regarding the subjects that they want to take for March exam.
  • Membership can only be accepted if a candidate is able to provide the required documents on time. Students have to submit copies of their educational certificates. These educational documents will be verified by the authorities. Once a student gets successfully enrol in the membership then they can obtain membership id.

However, it is solely dependent on the candidate that whether he/she wants to appear in the preceding exams or not. Those students who have enrolled to membership have to renew the cards every year. Otherwise they will not be able to get advantage of taking study materials of their subjects.

What about answer keys?

Answer keys are regarded as the only way left to candidate with the help of which they can know about their performances prior to result announcement. Candidates will be given an answer where correct options are given and it is published by IRM (Institute of Rural Management). One can get a chance to match their answers with that of the official answers. For knowing the date of publication of answer keys, candidates have to keep an eye on the official website.

How to obtain the answer key?

Here is a list of steps given that can help a student to download answer key.

  • The first step towards downloading the answer key is to visit the official website.
  • Click on the link of answer key.
  • Candidates will see that the answer leys are available in the pdf format.
  • Download it and check your answers.

Frequently asked questions:

Q1) how many chances will I get to appear in this exam?

Ans candidates will get two chances of appearing in this exam. First you can appear in June and another time in October.

Q2) is ACET conducted offline or online?

Ans ACET is conducted only via online mode.

Q3) I live in abroad so can I get a chance to appear for this exam?

Ans. No, because this exam is conducted only in Indian cities.

Q4) How much fee I need to pay for registration?

Ans. You have to pay rupees 3000 for registration.

Q5) is the fee that I pay for registration refundable?

Ans. No, you can get a refund.

Q6) which is the ideal site for obtaining the syllabus for ACET?

Ans. The official website of IAI is the most ideal site for getting adequate details regarding the syllabus.

Q7) will I get negative marks for my wrong answers?

Ans. Yes, you will get negative marks with each wrong answer.

Q8) what is pattern of ACET?

Ans. Multiple choice questions will be given in the question paper.

Q9) what is the duration of the exam?

Ans. The duration of ACET is of 3 hours.

All the candidates who are going to appear for ACET 2019 must have got enough information regarding the exam, application forms, admit cards and counselling procedures. If students want to successfully get membership of IAI they are required to work hard for confirming their actuary seat.

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