ACET

HERE’S ALL YOU NEED TO KNOW ABOUT THE ACET EXAM!



ACET Syllabus, ACET Paper Pattern, ACET Eligibility and more...

Is ACET exam tough?

No, ACET exam is easy if compare with other difficult exams. It is very much doable. You should practice the old questions papers thoroughly to get enough understanding of the level of this exam. You will have good idea of difficulty level also. And if you are a math student then ACET would be significantly easy for you. Just buy the study material and prepare for it. One month is all you need to clear it.

What is ACET exam India?

The “Actuarial Common Entrance Test” (ACET) is an entrance exam to get the student membership of the Institute of Actuaries of India (IAI). Once you have it then you can plan to take & qualify in the many other actuarial examinations conducted by the IAI. If you already have the membership of the IAI, you are can skip this entry exam and can continue to appear for the various actuarial examinations.  At IAI, you can take multiple tests one after another and you get the right material that makes you a full-fledged actuary. The work of an actuary is to take care of risk management in Real Business Problems in finance

ELIGIBILITY FOR ACET :

Candidates who want to sit in ACET exam should fulfill ACET Eligibility Conditions:

  • Candidate should have passed 10+2 examination or an equivalent examination with Physics, Mathematics, and English subjects at 10 + 2 level. English is a mandatory subject in 12th with a minimum of 50% marks and 45% marks in case of candidate belonging to the reserved category.
  • The Postgraduate, Graduate, Engineering students, chartered, management students and cost accountants (CA), company secretaries (SC ) students who studied mathematics and statistical sciences are also eligible to appear in the examination.

What is the full form of ACET?

Full Form of ACET is Actuarial Common Entrance Test. It is an entrance exam at university level. Institute of Actuaries of India (IAI) is the conducting authority for ACET.

How many times ACET happens in a year?

ACET exam happens two times in a year in month of January and May. Students can take the exam for any session. It’s a computer based exam which happens online.

What is the passing Criteria for ACET?

Students appearing in the ACET 2021 exam need to follow certain standards of ACET exam passing criteria set by The Institute of Actuaries of India (IAI). Prospective students should score minimum of 50% marks in the ACET exam to get the eligibility for admission in the Actuarial courses of IAI. Students who do not fulfill the passing criteria for ACET 2021 will not be able to apply for IAI student’s membership. Students who will qualify the ACET exam 2021 passing criteria would be able to register as a student of IAI within 3 years of the declaration of the ACET result. 

What is the time required for a complete preparation of ACET?

Everyone has their own time table for the day. This depends person to person, one may be fully occupied with some work while other may be free and enjoying idle time for the whole day. Also, each person has different learning abilities and retention power.

Hence, this can never be predicted what exact amount of time someone will need to crack the ACET exam. It also depends on how much time someone can spend each day and also on how much you can remember at the end of the day.

Nearly 3-4 months of continuous study and hard work is sufficient if you are fully committed towards clearing the exam.

What is ACET 2021 Eligibility criteria in terms of age and qualification?

Eligibility in terms of age: There is no limit on age to apply for ACET exam.

Eligibility in terms of qualification: the candidate must have passed 12th standard or equivalent to that from a recognized board or university with English as one of the subjects. Also the engineering students, graduates, post graduates, CAs, CSs, mathematic degree holders can apply for this exam.

What is ACET 2021 Syllabus?

Students who will be giving the exam, must prepared with the syllabus provided by IAI. No need to go for the material which is out of syllabus because questions paper is prepared within the syllabus. The duration for the exam will be 3 hours. It will be 100 marks exam inclusive of 70 questions.

The whole question paper will be divided between two parts, one will include the subjects of Mathematics, Statistics and Data Interpretation with 55% of the scores. Second part will include English and Logical Reasoning with 45% of the scores.

Below are the subjects:

  • Mathematics
  • Statistics
  • English
  • Data Interpretation
  • Logic-based questions

ACET Mathematics Syllabus

Following are the topics which are covered in the mathematics section of ACET Exam.

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

ACET Statistics Syllabus

Following are the topics which are covered in the ACET Statistics syllabus with subtopics.

  • Correlation
    • Covariance
    • Correlation Coefficient
    • Scatter Plots
  • Regression – Types of data
    • Histogram
    • Statistical Diagrams
    • Bar Chart
    • Boxplot
    • Stem-and-leaf
  • Permutations and combinations

Measures of Location

  • Mean
  • Median
  • Mode

Measures of Spread

  • Range
  • Interquartile Range
  • Standard Deviation
  • Variance
  • Skewness

Discrete Random Variables

  • Definitions
  • Probabilities
  • Mean, Mode, Median
  • Standard Deviation
  • Variance
  • Coefficient of Skewness

Probabilities

  • Basic Rules Of Probabilities

Advanced Probabilities

  • Tree Diagrams
  • Conditional Probabilities

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
  • Normal Distribution

ACET English Syllabus

Following are the topics which are consolidated as the ACET English Syllabus.

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

ACET Data Interpretation Syllabus

Below mentioned is the list of topics for ACET Data Interpretation Section

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

ACET Logical Reasoning Syllabus

Below mentioned is the syllabus of ACET Logical Reasoning Section.

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

PAPER PATTERN OF ACET :

The candidates will be attempting the Exam for 3 hours. The exam contains the 100 Marks which all are divided into 70 questions. The exam includes two parts – part 1 and part 2. Part 1 includes the subjects of Mathematics, Statistics, and Data Interpretation with 55% of the scores. Part 2 includes English and Logical Reasoning with 45% of the scores.

ACET exam pattern is one of the most important things that candidates need to know before starting their preparation. 

  • Type of question: MCQ (Multiple Choice Questions), type of questions will be asked.
  • Exam Mode: The ACET examination is Computer-based.
  • Time Duration of Exam: The duration of the exam is 3 hours.
  • Sections: There are 2 sections for the ACET exam.
  • Marking Pattern: Each correct answer carries different marks for different sections.

Note: There is a Negative Marking Present. For 1 mark question, 0.5 marks will be deducted, for 2 marks question, 1 mark will be deducted and for 3 marks question, 1.5 marks will be deducted.

PREPARATION OF ACET :

In order to prepare online for the ACET exam, candidates must be aware of some important things that are necessary to crack the exam in the first attempt. If you are wishful for making a great career in Actuarial Science, passing the entrance ACET exam is important. Prefer online preparation for the exam to achieve effective results. 

The following are some tips on how to Prepare for the ACET exam.

  • Know your Syllabus properly and download ACET syllabus online:

Completely aware of the entire ACET syllabus is important without knowing what to prepare, one cannot know how to prepare. However, first, make sure that you know the related topics that you need to study to crack the exam and then begin your ACET preparation online.

  • Know the Exam Pattern and divide your time for every subject. :

The exam pattern gives you an overview of the structure of the question paper. After analyzing the online syllabus and knowing the exam pattern, follow the next step is to divide your time to prepare for each topic.

Along while preparing for every topic for the exam you must go through solved online practice question papers of the ACET exam. This helps you in getting deep knowledge of a particular topic. While going through solved papers you actually get to know what type of questions are asked. It also helps you to collect more knowledge about the topic.

After you have gone through the entire syllabus, the next step is to test your knowledge. Solve ACET online previous year question papers. There are a lot of sample question papers available for online preparation of exams. By solving previous year question papers, you come to notice repetition patterns, which may help you in your exam.

During the online preparation of the exam, find time to give ACET  Exam MOCK TEST. MOCK TEST is just like a practice exam that boosts your confidence level. So before appearing in the final exam, participate online available Mock Test.     

  • Prefer online Study Materials. 

In order to prepare for the exam, you will have to rely on some online websites 

  • Revise what you have learned from online study materials.
  • Practice and practice, the more you practice, the more exam will easy.