ACET-Oct-Actuary

Exam Announced? YES

Program Details: "Actuarial Common Entrance Test" is applicable to the candidates who plan to enroll as student member of the Institute of Actuaries of India (IAI) and wish to take actuarial examinations.  The ACET score is valid for a period of 3 years which the student can apply for student membership of IAI.  

A student pursuing their Grade 12 also can attempt the ACET and use the score to apply for student membership of IAI after they successfully complete their Grade 12 examination.

Institute of Actuaries in India (IAI) is a statutory body established under an Act of Parliament - The Actuaries Act 2006 (35 of 2006) for regulation of profession of Actuaries in India. IAI was established in 1944 as the The Actuarial Society of India (ASI) and it is now member of International Actuarial Association (an umbrella organizations to all actuarial bodies across the world) and is actively involved in its affairs.

What is an Actuary: An actuary is a business professional who analyzes the financial consequences of risk. Actuaries use mathematics, statistics and financial theory to study uncertain future events, especially those of concern to insurance and pension programs. An Actuary works as consultant either individually or in partnership with other Actuaries in multi-disciplines likfe insurance, information technology, taxation, employees benefit, risk management, investment, etc. Evidently, the scope of the functions and duties of an Actuary has increased considerably under the changed conditions. But what sets them apart from their counterparts in other professions is the natural mathematical, economic and statistical aptitude, awareness and the ability to apply these to situations in the real financial world.

Course Path to become an Actuary:

1. First the student must clear the Actuarial Common Entrance Test (ACET) conducted by the Insitute of Actuaries of India. ACET is conducted two to three times a year.
2. Using the ACET score, the student can apply for IAI membership
3. Clear 13 subjects to attain fellowship.  

Typically, it can take anywhere from 6 to 10 years to attain Fellowship status at the Institute of Actuaries of India (IAI). The duration depends on factors such as the individual's pace in completing the required exams, the time taken to gain relevant work experience, and the fulfillment of other requirements like professionalism courses.
To learn more about the Actuary pathways check our blog  All that you needed to know about becoming an Actuary.

Conducted by: Institute of Actuaries in India (IAI)

Conducting organization type: Other

Additional info: The exam is popular across All India