IAI ACET 2024 Exam - Answer Key, Analysis, Exam Date, Updates

The ACET exam is conducted by the Institute of Actuaries of India (IAI) twice or thrice a year. The conducting body released the exam schedule on the official website for the October session. Candidates looking for a career in the field of Actuary can register for the ACET exam. These aspirants can seek admission in the Actuary course and can appear for regular exams conducted by the institute.

ACET 2024 December Session: ACET 2024 was conducted today, December 21, 2024, from 10 am to 1 pm. ACET 2024 answer key and results will be announced on December 28.

ACET 2024 October Session: ACET 2024 results for the October examination were published on October 18, 2024, at actuariesindia.org. Successful candidates can secure student membership of IAI within 3 years from the date of the result launch. The ACET examination for the October term was held on October 13. 

ACET 2024 May Session: ACET 2024 for the May term was organised on May 4, 2024, and the results were declared on July 1, 2024. 

IAI has released the dates for the ACET 2024 October session. Check them out below -

ACET 2024 October Session

ACET 2024 May Session

ACET 2024 December Session

Here are the major events of the ACET 2024 exam -

ACET 2024 Eligibility Criteria

Below are the eligibility criteria of ACET 2024 -

• Students who have taken the 10+2 or a similar exam and are awaiting the results.
• A candidate who has completed 10+2 or any other higher level courses/exams.
• Students who have completed the Diploma.
• Students who are from Finance, or any other field, but have a passion for mathematics and strong numerical skills.
• Mathematical Sciences include subjects such as mathematics, statistics, econometrics, and others.
• Aspirants who are from the Engineering and Management field.
• Company Secretary, Chartered Accountant, or Cost Accountants are also eligible.

ACET 2024 Exam Pattern

ACET 2024 is a three-hour online exam with a total of 100 marks. Students have to answer 70 multiple choice questions. ACET will be held on a single day with only one slot. There will be no negative grading for wrong responses. The ACET Examination has a pass mark of 50%.

The marks distribution is as follows - 

Marks allocation for the ACET 2024 is as below -

ACET Application Form

Here are the details about the ACET Application Form in below section:

• Candidates must fill out the application form with details such as the email address, name, phone number, and so on.
• To complete the application form, upload scanned documents such as a photograph and signature.
• Because there will be no corrections, all of the information on the online application must be correct.
• After completing all of their information, students must print the application form for reference purposes.

Application Fee:

• The application fee can be submitted online.
• The ACET application cost is Rs. 3000/-. (approximate)
• Candidates must pay the fee with a credit card, debit card, or net banking transaction.

ACET 2024 Syllabus

Here are the major topics and sub topics for ACET 2024 exam -

Mathematics

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

Statistics

• Permutations and combinations.
• Types of data -Statistical diagrams, dot plot, stem-and-leaf, boxplot, bar chart, histogram.
• Measures of location - mean, median, mode
• Measures of spread - range, interquartile range, variance, Skewness, standard deviation.
• 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, binomial, Poisson, Bernoulli.
• Continuous distributions - continuous uniform, exponential, the normal distribution
• Correlation - scatter plots, correlation coefficient, covariance
• Regression

English

• Vocabulary-Based (Synonyms Antonyms)
• English Usage or Grammar
• Sentence Correction
• Fill in the blanks
• Facts / Inferences / Judgements
• Reading Comprehension
• Analogies or Reverse Analogies
• Jumbled Paragraph
• Meaning-Usage Match
• Summary Questions
• Verbal Reasoning
• Vocabulary questions assess the candidate's understanding of primary meanings, secondary shades of meaning, use, idioms and phrases, antonyms, related words, and so on.
• Grammar questions try a candidate's ability to identify and correct grammatical problems. It should generally test knowledge of high school level grammar in areas such as subject-verb agreement, modifier use, parallel construction, redundancy, phrasal verbs, use of articles and prepositions, and so on.
• Questions in Verbal Reasoning are intended to assess the candidate's ability to find correlations or patterns among groups of words or sentences.

Data Interpretation

Tables, charts, and graphs are used to present data. This part evaluates how candidates interpret and answer questions based on the provided data.

• Tables
• Column Graphs
• Bar Graphs
• Line Charts
• Pie Chart
• Venn Diagrams
• Caselets
• Combination of two or more types linked to each other.

Logical Reasoning

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

ACET 2024 Admit Card

ACET 2024 Hall Ticket will be available via the aspirant's ACET Login to all registered candidates. ACET Admit Cards contain different instructions as well as information about the place, dates, and timing of the examination which the students must follow. Candidates must keep their admit card safe until the admissions process is completed.

ACET 2024 Preparation Tips

Here are some pointers and methods to help the aspirants prepare for the ACET 2024 Exam:

• Candidates should review the ACET 2024 syllabus and exam pattern.
• Create an appropriate study plan based on the topics in mind.
• Solve the sample papers of ACET as well as the prior year's question paper.
• Take the mock test on a daily basis.
• Purchase appropriate study materials.
• Students must take care of their health and concentrate on their studies.

IAI conducts ACET exam in 24 test centres across the country. ACET is a Computer-Based Test, and the same is conducted in the following test centres across the country -

The following is the process for ACET Online Registration -

• For ACET information, visit the IAI website and click on the following link.
• Please use the following link to sign up or login.
• Students are requested to register using a desktop or laptop computer. They should not register using their mobile phone.
• Applicants can modify their centre with the login at any moment within the specified period.
• It is needed to provide a passport-sized photograph that meets the requirements.
• If the submitted photograph is acceptable, the students will receive a confirmation email; otherwise, they will receive a rejection email suggesting them to re-upload.
• They must choose the examination centre they want to appear from the drop down list.
• The exam centre's confirmation is contingent on a certain amount of registrations from that location. They will receive an email confirming their registration.
• After completing the Online Registration Form, students will receive a confirmation email at the registered email address with a link to continue by providing more information, uploading their photos, and paying the registration fees using Debit or Credit Card or Internet Banking.
• After successfully registering, students will be able to access the Welcome Kit, which includes one Sample Question Paper and an Indicative Solution, from their login download tab by entering the same id and password they used for online ACET registration.
• They will also receive a confirmation email of their enrollment and successful payment at the registered email address.
• All contact will and must be sent to the registered email address.
• If the aspirants do not print their Hall Ticket and bring a government-issued photo ID proof (Aadhaar card, Driving License, Passport, Voter ID card, or PAN card) in original (hard copy) with them during the examination, they will be denied entry.
• In the case of 12th grade students, the applicants must bring their examination hall ticket or a college ID card with a photo that has been officially attested in the original.

In order to get enrolled in the Actuary course, a candidate needs to pass an entrance exam called ACET (Actuarial Common Entrance Test) conducted IAI. After clearing the exam, the candidates need to enrol for admission in Actuarial course. The admission process is conducted in online mode. There are three stages in the ACET 2024 exam such as -

• Core Technical Stage (CT)
• Specialist Technical Stage (ST)
• Specialist Application Stage (SA)

A candidate needs to clear the regular exams conducted IAI, and only after clearing all the three stages of IAI exams, the candidate will be awarded a certificate in Actuary. Only the candidates who clear all the above exams shall be eligible to practice Actuary.

This page only focuses on only the ACET exam conducted IAI. All the details about ACET exam are elaborated here. If you are looking for Actuary course details of IAI, please click on the link below -

Career as a Actuary - Courses, Eligibility, Salary, Job Roles, Scope