ACET-21 Actuary Entrance Exam By Institute of Actuaries in India IAI

ACET-21-Actuary Entrance Exam

Exam name ACET-21-Actuary
Notification Status Announced
Examination Body

Institute of Actuaries in India (IAI)

Examination Body Type Other
Popularity Popular - All India
Summary

Note: ACET-June-2021 is for students who have appeared or have passed their Class 12.

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 the profession of Actuaries in India. IAI was established in 1944 as The Actuarial Society of India (ASI) and it is now a member of the International Actuarial Association (an umbrella organization 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 a consultant either individually or in partnership with other Actuaries in multi-disciplines like 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.

To become an actuary, the student must clear the Actuarial Common Entrance Test(ACET) conducted by the Institute of Actuaries of India. ACET is conducted two to three times a year.

Course Path:
1) ACET: Candidate (min eligibility Class XII) takes ACET to become a student member
2) Follow the 4 Qualification Components to become an actuary:
1. Core Principles
2. Core Practices
3. Specialist Principles
4. Specialist Advanced
To learn more about the Actuary pathways check our blog  All that you needed to know about becoming an Actuary.

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