302, Indian Globe Chambers,142, Fort Street, Off D N Road, Mumbai - 400 001

+ 91 22 67843333
Visit us at: www.actuariesindia.org




ACET - Gateway to the World of Actuary - FAQs (ver. 2.00/March 2012)



Note:
i) The Frequently Asked Questions (FAQs) as under are designed to assist potential examinees and
IAI does not claim that these are exhaustive or they cover and conform to all aspects of legal
niceties within the framework of the Actuaries Act, 2006. If any questions of this nature do arise
the same would be dealt with on case-by-case basis.

ii) IAI expects all examinees to behave in an orderly manner within and outside the examination
centre. In case an examinee is found to have misbehaved or resorted to or attempted to have
resorted to unfair means for the purpose of passing the examination, IAI reserves its right to take
suitable legal action as may be deemed proper.

iii) This document is authorized by the President of IAI to be placed on the website,
www.actuariesindia.org and also be made available in any other form to the potential examinees.



ACET Actuarial Common Entrance Test is applicable to those who plan to enroll as student members
of I AI 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.



Q 1 What are the dates of Entrance Exam?
The exam is proposed to be conducted on 29
t h
/ 30
t h
J une 2012 in 41 cities and 51centers across
India. While registering, the candidates will be asked to fill in their choice of exam centers. 15
days from last date of close of registration, candidates would receive an email notification regarding
their specific exam time slots. The time slots could vary across centers but in no
circumstances would be outside 29
th
/ 30
th
June 2012.

Q 2 Dates of registration for the Examinations:
i) When is the earliest date of registration?
The registrations for June 2012 ACET exams will open on 5th April 2012.
It is advisable for examinees to register early because immediately on completion of
registration and payment of fee they would be able to download study material (from
download section of l ogi n page) thereby getting more time to study before the exam dates.
ii) When is the last date for registration for the June 2012 ACET examinations?
The last date for registering for the exam is 15th May 2012 and this is not expected to be
extended further.

Q 3 How frequently the entrance exam will be held?

The exam will be held at least twice in a year. As of now the planned months are: December/January
and June /July.



302, Indian Globe Chambers,142, Fort Street, Off D N Road, Mumbai - 400 001
+ 91 22 67843333
Visit us at: www.actuariesindia.org


Q 4 What is the eligibility criteria?

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.

Q 5 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 not
refundable. You are therefore requested to make considered decision to take up the examination and
then only register.

Q 6 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 their chosen testing
centre administered initially in forty one cities within India at fifty One centers.

Q 7 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 pre-selected test center at a specified time. 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:
25 questions 1 mark each
25 questions 2 marks each
5 questions 5 marks each


Q 8 Where can I look for syllabus for the exam?

The syllabus is available on IAI website under http://www.actuariesindia.org/acet.html. Also you will
be able to download the detailed study material once you register for the examination.

Q 9 How can I register for the exam? Please mention step by step process, if possible.

Step 1 - Go to IAI website and signup at http://www.actuariesindia.org/acet.html

Step 2 - Fill up the online registration form and make the payment 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 study material from
your login download tab. You will also receive an e-mail at your registered e-mail address
with an attachment of e-receipt and copy of the registration form.

Step 4 - 15 days after the last date of close of registrations, you would receive an email notification
regarding the specific exam time slot and the centre allocated along with the admit
card. You would need to print the admit card and carry it to the exam centre.



302, Indian Globe Chambers,142, Fort Street, Off D N Road, Mumbai - 400 001
+ 91 22 67843333
Visit us at: www.actuariesindia.org




Q 10 Can payment be made by any other means instead of online payment?

No, you can only register for the exam by making an online payment.

Q 11 In which cities are the exam test centers available?

S. NO
1
2
3
4
5
6
7
8
9
10

CITY
AGRA
AHMEDABAD
BENGALURU
BAREILLY
BHUBANESHWAR
CHANDIGARH
CHENNAI
DEHRADUN
DELHI
FARIDABAD
S. NO
11
12
13
14
15
16
17
18
19
20
21

CITY
GOA
GURGAON
GUWAHATI
HYDERABAD
INDORE
JAIPUR
JALANDHAR
JAMMU
JAMSHEDPU
R KANPUR
KOCHI
S. NO
22
23
24
25
26
27
28
29
30
31
32
33
CITY
KOLKATA
LUCKNOW
LUDHIANA
MUMBAI
NAGPUR
NASIK
PATNA
PUNE
RAIPUR
RANCHI
SECUNDERABAD
SURAT
S. NO
34
35
36
37
38
39
40
41
CITY
UDAIPUR
VIZAG
SRINAGAR
COIMBATORE
BHOPAL
VADODARA
VARANASI
THIRUVANANTHAPURAM
*In major cities there may be more than one exam centers.

Q 12 How do I get my examination admit card?

Refer step-4 of Q9 above.

Q 13 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 weightage 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.

Q 14 Can I use a scientific calculator during the test? If yes, please give a list of approved calculators
for use in the exams.

Yes, you can use scientific calculators in the exam. However, you can use only one of the models from the
list below.
1. Casio FX82 (with or without any suffix)
2. Casio FX83 (with or without any suffix)
3. Casio FX85 (with or without any suffix)
4. Sharp EL531 (with or without any prefix or suffix)
5. Texas Instruments BA II Plus (with or without any suffix)
6. Texas Instruments TI-30 (with or without any suffix)
7. Hewlett Packard HP12c (with or without any suffix)

Please note that you will not be allowed to carry any other model of the calculator in the exam centre.
From this list, Casio FX82, Texas Instruments BA II Plus and Texas Instruments TI-30 are available in
India. They can be ordered from sites like flipkart.com or ebay.co.in easily by the students.









302, Indian Globe Chambers,142, Fort Street, Off D N Road, Mumbai - 400 001
+ 91 22 67843333
Visit us at: www.actuariesindia.org



Q 15 Can we bring writing notepad to the exam centre?

Yes, you can bring some blank sheets of paper to write. However, these sheets should be destroyed
after the exam within the exam room itself. You are not allowed to carry any paper from the exam
room. No blank sheets would be provided at the exam venue.

Q 16 When will the results be declared?

The results will normally be declared within 10 days from the date of the exam. The results would be
available on the IAI website.

Q 17 What happens after passing the exam?

If you are among the successful candidates, you need to fill the student membership registration form
(available on the IAI Website) and send it to IAI along with your choice of exams for the November
2012 session.

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
apply for the November 2012 or any of the later actuarial exams.


Q 18 Can I appear for November 2012 exams after passing the entrance exam in June 2012?

Yes, Refer Q 17 above. The timelines of results have been set such that examinees would have
enough time to be prepared for the November 2012 actuarial examinations.

Q 19 How will IAI contact me after registration?

Please see Q9 for details of the registration procedure. If you dont receive any communication from
IAI after the registration process, please contact the Entrance Exam helpdesk at
entryexam@actuariesindia.org or 022-67843333. Note that the entry exam email and phone numbers
would be active only after 05
th
April 2012.

Q 20 Can I select my exam centre and the time of my exam?

You have the choice of the exam centre but not for the day and the time for the exam. The dat e and
t he t i me of t he exam wi l l be based on t he avai l abl e sl ot s at t he exam cent re. From 15
days of close of last date of registrations, you would receive an email t hat woul d cont ai n a
l i nk t o your admi t car d whi ch wi l l have det ai l s about your exam centre, exam date and
the time. You are requested to take a print out of this admit card and carry it to the exam centre.

Q 21 Can I appear for a paper based exam?

No, currently IAI offers this exam only in an online format.

Q 22 I live outside India. Can I appear for the exam from outside India?

No, currently the exam is being offered only in cities within India. There is however no restriction
based on citizenship and/or residence for the exams to be taken from any one of the forty one
centers. However, IAI will reject applications from Countries/Nationalities alien to India and any
other Nationality/Country that IAI may consider it should not conduct its examinations for. The
decision of IAI in this regard will be absolute and final.



302, Indian Globe Chambers,142, Fort Street, Off D N Road, Mumbai - 400 001
+ 91 22 67843333
Visit us at: www.actuariesindia.org




Q 23 What do I need to carry to the exam centre?

You will need to carry your exam admit card, a government issued photo Id proof (UID card, driving
license, passport, voter ID card or PAN card), an approved scientific calculator (refer Q14) 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.

Q 24 Can an examinee take more than one attempt at this exam?

Yes, students who have failed this exam earlier can apply again. However, there is only one entry
exam window 29
th
/ 30
th
June 2012 available before November 2012 .

However a candidate can again register, re-appear in the entry exam later during the year. The dates
for the next ACET would be declared later.

Q 25 Who do I contact if I dont get the email from IAI or if the registration process fails?

Please contact the Entrance Exam helpdesk at entryexam@actuariesindia.org or
022-67843333.
Note that the entry exam email and phone numbers would be active only after 05
th
April 2012
Q 26 Who do I contact for general enquiries if any not covered by above FAQs in this regard prior to
registration?

Please contact the Entrance Exam helpdesk at entryexam@actuariesindia.org or
022-67843333.

Q 27 What do I do in case all the above avenues fail?

Post an e mail at Ask the President on the IAI Website, www.actuariesindia.org.




GOOD LUCK TO YOU