Get complete information on Actuarial Science Exams 2024. Check the Fees, Results, Question Papers, Schedule, Registration, Exam Pattern and other important details for Actuarial Science Exams 2024.
Evaluating risk and maintaining the economic and financial stability of insurance or a financial organization is the basis of Actuarial Science. Candidates who graduate from this field learn the use of mathematics, statistics and probability, the core subjects in actuarial science exams and come up with preventive measures related to financial issues for companies.
In order to develop these skills and knowledge, candidates must pass actuarial science exams by reading through the right material and books. This article will help candidates prepare themselves better for Actuarial examinations and understand the question paper pattern, schedule and how to crack the actuarial exams correctly.
About Actuarial Science Exams 2024
Actuarial science exams are perfect for candidates and students who find economics, statistics and mathematics interesting. Because of the subjects, actuarial sciences hold good across the globe and offer fantastic packages and salaries to the candidates who apply. The Indian economy has seen steep growth in the last couple of years, and this rapid expansion requires several individuals, skilled in actuarial sciences that few institutes offer.
The MBA course in Actuarial Sciences is available in several lower-ranked institutions; however, the Institute of Actuaries of India (IAI) is India's formal actuarial course institute. The actuarial science exam conducted by the institute is unique and requires hard work to crack. Once answered, the Actuarial exam results will be announced on the official website, and candidates can find their rank on the list by visiting the IAI website.
By reading this article, you will have a detailed understanding of the courses, levels and credentials of the actuarial sciences and how to crack the actuarial sciences entrance exams.
The most significant Actuarial Science India entrance exam is conducted by the Institute of Actuaries of India (IAI). This exam is called the Actuarial Common Entrance Test (ACET). By this test, candidates are chosen for the course and can secure a seat for admission. The ACET examination has been the same over the last few years. However, the institute recently made a change to the pattern of the question paper.
Actuarial Science Exam Pattern 2024
The table below will give you an insight as to what you can expect on the Actuarial Science exam papers. The pattern might be a little different, but not significant enough to cause confusion. With the right preparation, you will be able to ace the examination. Keep reading to find out more.
| Exam Name | Actuarial Common Entrance Test (ACET) |
|---|---|
| Time Duration | Three hours |
| Total Marks | 100 |
| Number of Questions with marking |
|
| Examination sections |
|
| Weightage of the Sections |
|
Actuarial Science Exam Complete Syllabus
The Actuarial Sciences entrance exam 2024 syllabus, is majorly based on five subjects and relevant questions from topics within these subjects. By analyzing the Institute of Actuaries of India past exam papers, we have summed up the essential subjects below. The detailed list of sub-topics is available on the official IAI website. For your convenience, we have listed the main Actuarial Science papers subjects below.
- English
- Statistics
- Mathematics
- Data Interpretation
- Logic
Actuarial Science Exam 2024 Question Papers
One of the best methods of studying for any entrance examination is to refer to previous year question papers. They give you an understanding of what you expect and how much syllabus to cover. The topics that appear repeatedly have a better chance of appearing again and give you a good base to start preparing. The ACET question papers for the previous years are available on GetmyUni. The Actuarial Science exam sample papers and books will be available on the IAI official website once candidates register for the exam.
The ACET is conducted thrice every year, making it easier for students to prepare accordingly and answer when ready.
Actuarial Science Exam 2024 Centers
The exam centres for the Indian Actuaries Entrance Exam are listed below. Make sure you read through the entire article to understand how you can apply and attend the exam in the centre near you.
|
Mumbai |
Dehradun |
| Delhi | Hyderabad |
| Indore | Patna |
| Kolkata | Raipur |
| Nagpur | Vizag |
| Bangalore | Jaipur |
| Ranchi | Coimbatore |
| Gurgaon | Ahmedabad |
| Kochi | Baroda |
| Chennai | Lucknow |
| Bhubaneswar | Guwahati |
| Pune | Chandigarh |
Actuarial Science Exam Fees 2024
There are various levels of examinations that candidates must pursue to become an actuary, certified by the Institute of Actuaries of India. The Actuarial Science exam 2024 has three stages according to the course offered by IAI. The table below denotes the technical stages, exam name and the fee for Indians and SAARC Citizens.
| Name of the Exam Stage | Exam Level | Name of the Exam | Fee for Indians and SAARC Citizens | Fee for Other Candidates |
|---|---|---|---|---|
| Core Technical Stage (CT) | CT-1 | Financial Mathematics | INR 2500 | INR 6250 |
| CT-2 | Finance and Financial Reporting | INR 2500 | INR 6250 | |
| CT-3 | Probability and Mathematical Statistics | INR 2500 | INR 6250 | |
| CT-4 | Models | INR 2500 | INR 6250 | |
| CT-5 | General Insurance, Life and Health Contingencies | INR 2500 | INR 6250 | |
| CT-6 | Statistical Methods | INR 2500 | INR 6250 | |
| CT-7 | Business Economics | INR 2500 | INR 6250 | |
| CT-8 | Financial Economics | INR 2500 | INR 6250 | |
| CA-1 | Actuarial Risk Management | INR 7500 | INR 18,750 | |
| Specialist Technical Stage (ST) | ST-1 | Health and Care Insurance | INR 4000 | INR 10,000 |
| ST-2 | Life Insurance | INR 4000 | INR 10,000 | |
| ST-4 | Pension and Other Employee Benefits | INR 4000 | INR 10,000 | |
| ST-5 | Finance and Investment A | INR 4000 | INR 10,000 | |
| ST-6 | Finance and Investment B | INR 4000 | INR 10,000 | |
| ST-7 | General Insurance: Reserving & Capital Modeling | INR 4000 | INR 10,000 | |
| ST-8 | General Insurance: Pricing | INR 4000 | INR 10,000 | |
| ST-9 | Enterprise Risk Management | INR 4000 | INR 10,000 | |
| Specialist Applications Stage (SA) | SA-1 | Health and Care Insurance | INR 5000 | INR 12,500 |
| SA-2 | Life Insurance | INR 5000 | INR 12,500 | |
| SA-3 | General Insurance | INR 5000 | INR 12,500 | |
| SA-4 | Pension and Other Employee Benefits | INR 5000 | INR 12,500 | |
| SA-5 | Finance | INR 5000 | INR 12,500 | |
| SA-6 | Investment | INR 5000 | INR 12,500 |
Actuarial Science Exam 2024 Exemption
There are specific qualifications candidates can possess to gain exemption from appearing for the CT, CA and ST exams mentioned above. If the candidates are qualified for exams which are equivalent to the IAI, and from similar institutes or universities that the IAI recognizes, they are eligible for the exemption. The certified exams are conducted form the following institutions:
- Institute and Faculty of Actuaries
- Indian Statistical Institute
- Casualty Actuarial Society
- University Courses and IFoA Exemptions
- Other Professional Qualifications
Note: International courses such as the Chartered Enterprise Risk Actuary qualification, with the ST-9 exam, is a qualification as per the IAI. Candidates must also attend the ERM seminar.
Society of Actuaries Exam Schedule - Other Courses
As per the 2024 Actuarial Sciences Institute, candidates can seek other courses, and we have listed them below along with the type of course, and it's duration. Make sure you read through this article to find out if you are eligible for the specific course you choose.
| Name of the Course | Type of Course | Duration |
|---|---|---|
| MBA Actuarial Science | Master Degree | Two years |
| PG Diploma in Actuarial Sciences | PG Diploma | Two year |
| B.Sc. Actuarial and Financial Mathematics | Bachelor Degree | Three years |
| B.Com. Actuarial Science | Bachelor Degree | Three years |
| B.Sc. Actuarial Science | Bachelor Degree | Three years |
| M.Sc. Actuarial Science | Master Degree | Two years |
Actuarial Science Courses Eligibility Criteria 2024
We have listed the essential criteria for candidates who seek admission for a course in Actuarial Science courses in 2024. Once you have met the basic requirements, you can proceed to register for the examination. You can also refer to the question papers above to help prepare yourself in the best possible manner for the ACET 2024 Actuaries entrance exam.
Bachelor Degree in Actuarial Science
- Candidates must pass class 12.
- Higher education, with more importance to mathematics as a subject, is expected.
- Admissions are on a merit basis.
Master Degree and PG Diploma in Actuarial Science 2024
- Requires 60% aggregate marks (minimum) with passed graduation.
- PG Diploma and MBA course admissions are based on entrance exams like MAT, CAT and CMAT.
Actuarial Science Exams Dates
At GetMyUni we are committed to getting you the latest updates on exam dates as and when they are announced by the authority. However, you can check on the Actuarial Exam Dates and make sure you check back regularly to remain updated on dates related to the Actuaries exam.
| Events | Dates (Tentative) |
| Registration Start Date | Jan 2024 |
| Registration Last Date | Jun 2024 |
| Admit Card | Jun 2024 |
| Exam Date | Jun 2024 |
| Results Release Date | Jul 2024 |
How to Register for Actuarial Science 2024 Exam?
The entire registration process depends on the eligibility of the candidates specified above in this article. By logging on to the official website- actuariesindia.org, a candidate can register by following the instructions specified on the website and pay a non-refundable amount of INR 3000. This amount includes online tutorials, the exam fee and study materials which can be paid through credit or debit card, or even internet banking. Once you register, the hall ticket will be issued to you soon after. We recommend taking a printout of the hall ticket (admit card) and keeping it safe as it is vital for answering the examination.
