What is Actuary and What they do.

Actuaries are professionals who work in Insurance and Finance industry and are responsible for risk management. They are key players in management team that help business plan for the future to deal with impact of uncertain events. As these people deal with uncertain future events, sound knowledge of Mathematics, Statistics, Finance and Investment is needed. Hence whole curriculum is focused on Statistics and Finance and written in language of mathematics.

How can I start with Actuarial course.

To become the student member of Institute of Actuaries of India, candidate has to qualify ACET – Actuarial Common Entrance Test. The only eligibility criterion is that the examinee must have appeared / 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, CA, CS, CWA, MBA & degree holders in mathematical and statistical sciences and economics etc. are expected to take this exam.

What after I have cleared ACET ‐ Exams

After becoming Student member candidate can write Actuarial exams which comes in four stages: Most of exams are traditional three hour written papers (known as session based exams), though some subjects involve attending two‐day (known as practical exams).

  1. Core technical (CT) – nine subjects, all of which you need to pass. Most of these are traditional three hour subjective exams, but subject CT9 is a two‐day residential practical exam.

CT1 Financial mathematics          CT2 Finance and financial reporting          CT3 Probability and mathematical statistics CT4 Models        CT5 Contingencies    CT6 Statistical methods CT7 Business economics                     CT8 Financial economics          CT9 Business awareness

  1. Core applications (CA) – three subjects you need to pass. Two of these, subjects CA2 and CA3, involve attendance at a two‐day practical exam.

CA1 Actuarial risk management   CA2 Model documentation, analysis and reporting CA3 Communications

  1. Specialist technical (ST) – you need to pass from two of the nine ST subjects available. ST0 Alternative specialist technical (not examined) ST1 Health and care       ST2        Life insurance           ST4 Pensions and other benefits              ST5 Finance and investment A    ST6 Finance and investment B           ST7 General insurance: reserving and capital modelling               ST8 General insurance: pricing   ST9 Enterprise risk management
  2. Specialist applications (SA) – you need to pass one of the seven SA subjects available.

SA0 Research dissertation (not examined) SA1 Health and care       SA2 Life insurance SA3 General insurance SA4 Pensions and other benefits SA5 Finance       SA6 Investment

Eligibility criterion
The only eligibility criterion is that the examinee must have appeared 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.

Although we suggest if you liked mathematics  in Class XII  and like topics like calculus you can take this course.

Topic Distribution

  • Maths - Stats - Data Interpretation - 55%
  • English - Logical Reasoning - 45%

Marks Distribution

  • 5 Questions - 3 Marks each
  • 20 Questions - 2 Mark Each
  • 45 Questions - 1 Mark each

Structure of Exam
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 a three hour, 100 marks online exam which will have 70 multiple choice questions with one correct answer for each question. The questions for Section-I i.e. Mathematics, Statistics and Data Interpretation will contain 55% of weight and Section-II i.e. English and Logical Reasoning will contains 45% of weight. The total distribution of questions would be:

  1. 45 questions-1 mark each
  2. 20 questions-2 marks each
  3. 05 questions-3 marks each
IMPORTANT DATES – ACET  October 2017
ACET Coaching start date 17th April 2017
Exam Registration Start Date 01st July 2017
Exam Registration Last Date 30th August 2017
Date of Exam 07th October 2017
Date of Result 28th October 2017
Last Date to take student membership  admission  to appear for CT series exam in March 2018 21st November 2017
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