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ACET (Acturial Common Entrance Test เชเชธเซเช 2021 เชตเชงเซ เชตเชฟเชเชคเซ (เชซเซ เชซเชเซเชค เชฐเซ.3000)
Actuarial Common Entrance Test (ACET)
“Actuarial Common Entrance Test” is applicable to the candidates who plan to enroll as student member of the Institute of Actuaries of India and wish to take actuarial examinations.
Eligibility Criteria:
Any candidate studying for โข 10+2 โข Finance, or any other stream, but you have love for Mathematics and skills in Numeracy. โข Mathematical Sciences: Maths, Statistics, Econometrics or any other. โข Engineering. โข Management. โข Chartered Accountant, Cost Accountant or a Company Secretary.
Note: 1. ACET Examination is conducted only in India 2. ACET result is valid for 3 years from the date of declaration of the exam result for taking student membership of IAI.
Structure of ACET Examination:
Institute of Actuaries of India had started conducting its Entrance Exam which is ACET from January 2012.
Institute has started conducting ACET examination in Home Based Online Format with effect from October 2020.
1. ACET is a 3 hour, 100 marks online exam which has 70 multiple choice questions with one correct answer for each question.
2. The distribution of questions will be:
a. 45 questions โ 1 mark each b. 20 questions โ 2 marks each c. 05 questions โ 3 marks each
3. The Allocation of Marks will be as under:
a. Mathematics – 30 marks b. Statistics – 30 marks c. Data Interpretation – 15 marks d. English – 15 marks e. Logical Reasoning – 10 marks
4. ACET will be conducted in a single day with one slot.
5. There will not be any negative marking for incorrect answers.
Syllabus for ACET Examination will include the following
1) Mathematics
a) Notation and standard functions b) Numerical Methods c) Algebra d) Differentiation e) Integration f) Vectors g) Matrices
2) Statistics
a) Permutations and combinations b) Types of data Statistical diagrams, bar chart, histogram, dot plot, stem-and-leaf, boxplot c) Measures of location mean, median, mode d) Measures of spread range, interquartile range, standard deviation, variance, Skewness e) Probabilities basic rules of probabilities f) Advanced probabilities tree diagrams, conditional probabilities g) Discrete random variables definitions, probabilities, mean, mode, median, standard deviation, variance, coefficient of skewness h) Continuous random variables definitions, probabilities, mean, mode, median, standard deviation, variance, coefficient of skewness i) Discrete distributions discrete uniform, Bernoulli, binomial, Poisson j) Continuous distributions continuous uniform, exponential, the normal distribution k) Correlation scatter plots, covariance, correlation coefficient l) Regression
3) English
a) Vocabulary Based (Synonyms Antonyms) b) English Usage or Grammar c) Sentence Correction d) Fill in the blanks e) Cloze Passage f) Analogies or Reverse Analogies g) Jumbled Paragraph h) Meaning-Usage Match i) Summary Questions j) Verbal Reasoning k) Facts / Inferences / Judgements l) Reading Comprehension
Vocabulary: Vocabulary questions test the candidateโs knowledge of the primary meanings of words, secondary shades of meaning, usage, idioms and phrases, antonyms, related words, etc.
Grammar: Grammar-based questions test the candidateโs ability to spot and correct grammatical errors. It should generally tests knowledge of high school level grammar and includes areas like subject-verb agreement, use of modifiers, parallel construction, redundancy, phrasal verbs, use of articles, prepositions, etc.
Verbal Reasoning: Verbal reasoning questions are designed to test the candidateโs ability to identify relationships or patterns within groups of words or sentences.
4) Data Interpretation
Data is given in form of tables, charts and graphs. In this section it is tested that how can you interpret the given data and answers the questions based on it.
a) Tables b) Column Graphs c) Bar Graphs d) Line Charts e) Pie Chart f) Venn Diagrams g) Caselets Combination of two or more types linked to each other.
5) Logical Reasoning
a) Number and Letter Series b) Calendars c) Clocks d) Cubes e) Venn Diagrams f) Binary Logic g) Seating Arrangement h) Logical Sequence i) Logical Matching j) Logical Connectives k) Syllogism l) Blood Relations
Reference Books for ACET Examination:
Note: The reference books are for guidance purpose and they may or may not cover the given ACET syllabus.
1. TOMATO (Test Of Mathematics at Ten plus Two level published by ISI) 2. How to Prepare for Verbal Ability and Reading Comprehension for CAT by Arun Sharma and Meenakshi Upadhyay, Mc Graw Hill 3. How to prepare for Quantitative Aptitude for the CAT Editor: Arun Sharma 4. Quantitative Aptitude for Competitive Examinations Editor: Abhijit Guha 5. The Pearson and Guide to Verbal Ability and Logical Reasoning for the CAT Editor: Nishit K. Sinha 6. Quantitative Aptitude for MBA Entrance Examinations Editor: R.S. Aggarwal 7. High School English Grammar and Composition- Wren and Martin 8. Word Power Made Easy Editor: Norman Lewis 9. Problem Solving Strategies Editor: Arthur Engel 10. Challenge and Thrill of Pre-College Mathematics by New Age International Publishers 11. Challenging Mathematical Problems with Elementary Solutions Editors: A.M. Yaglom and I.M. Yaglom 12. An Excursion in Mathematics Editors: M. R. Modak, S. A. Katre, V. V. Acharya, V. M. Sholapurkar 13. Problem Primer for the Olympiad Editors: C R Pranesachar, B J Venkatachala, C S Yogananda 14. Trishnaโs Data Interpretation and Logical Reasoning for the CAT and other MBA Entrance Examinations 15. ACTED Study Material – FAC and STATS PACK
Note: Validity of ACET results is only for three years from the date of declaration of exam result for taking student membership of IAI.
