Actuarial Certification (India)
Who can become an Actuary?
• An HSC passed, graduate, post graduate, Engineer, MBA, CA, ICWA etc with sound knowledge in Mathematics & Statistics
• Loves logic and problem solving
• Good communicator
• Excellent business awareness
ACET:“Actuarial Common Entrance Test” is applicable to those who plan to enroll as student members of IAI 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.
IMPORTANT DATES - ACET8 JUNE 2015
02 Practice of Life Insurance
DATE OF EXAM
DATE OF RESULTS
03rd March 2015
07th May 2015
14th May - 28th May 2015
17th and 18th June 2015
01st July 2015
LAST DATE TO TAKE STUDENT MEMBERSHIP ADMISSION (IF WANTS TO APPEAR FOR NOVEMBER 2015 EXAM) 14th July 2015
If you have passed the ACET, this means you are eligible for student membership of the IAI. With effect from 21st June 2014, Friday, Application for Student Membership of Institute of Actuaries of India (IAI) for ACET passed students has become online.
How much time does it take to prepare for a particular exam?
The actual amount of time each student needs to spend on a particular subject will vary from student to student. Quality of study time is far more important than quantity of study time. Nevertheless, the following broad guidelines may be suggested for number of hours of intensive study:
Core technical subjects (CT1-CT8) Between 125 and 150 hours depending on the subject and an individual student’s past educational background in the subject.
Business awareness (CT9) At least 20 hours plus two-day practical course.
Actuarial risk management (CA1) 400 hours.
Model documentation, analysis and reporting (CA2) 50 hours.
Communications (CA3) 50 hours.
Specialist technical subjects (ST) 200 hours.
Specialist applications subjects (SA) 300 hours
In how many subjects can I appear in one exam diet?
You can appear for a maximum of three subjects in a single examination diet. Whilst there is no prescribed number of subjects, a reasonable work-load for an exam diet might be one of the following:
• Two-three Core technical subjects
• Actuarial risk management (CA1) paper
• two Specialist technical subjects
• one Specialist technical subject and the chosen Specialist applications
• some other comparable combination
Syllabus may be obtained from Institute’s website http://www.actuariesindia.org/