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. Click on the below link to fill the Online Admission Form.
http://www.actuariesindia.org/Admission_login.aspx

Applications for student membership will take up to 3 weeks’ to process from the date of receiving them.

You have to renew your annual membership every year on or before 1st April to be able to appear for the Actuarial Exams. For queries related to annual membership, you may get in touch with Mr. Sandeep Mahajan at sandeep@actuariesindia.org

On getting your membership Id, you will activate your account and decide on the exams you wish to sit for and apply for the examinations in the upcoming exam session (May or November) as well as order the study material from IAI. Details of how to order study material, how to apply for an exam and exam time-table for the next examination are available from the Institute’s website under the following links
Study material Price List: Study Material Price List
Soft Copy: Soft Copy.pdf
General Information: Curriculum 2019.pdf

One is suggested to follow the Course flow, beginning with the Core principle stage. There is no prescribed order in which Core principle subjects must be taken. However, when attempting the Core principle subjects it is worth remembering that some subjects build upon others. There are therefore some logical routes through the subjects. The particular route chosen may depend on the area in which you are working or on your past educational background.

The order in which the Core principle subjects build on each other follows the numerical sequence of the subjects. So, if you are in doubt, you may choose the numerical order as a default option. In general, it may be worth noting that :
CB1 – Business Finance assumes knowledge of CM1
CS2 – Actuarial Statistics assumes knowledge of CS1
CM2 – Financial Engineering and Loss reserving assumes knowledge of CS1, CS2, CM1 and CB2.
You may wish to leverage your college education to select the appropriate subject to begin with. For those with a background of the following disciplines, typical choices for your first exam might be :
Mathematics/Engineering: CM1
Statistics: CS1 and CS2
Economic: CB2
Accounts / Commerce: CB1
Whilst planning a route through your exams, you should note that there is no compulsory order of studying Core principle subjects.
The numbering of the Core principle subjects represents an ordering that would be appropriate for anyone working in life insurance or pensions. Anyone working in general insurance may prefer to take CS2 at any stage after studying CM1 or if you are working in investment may prefer to take CB2 and CM2 before CS2 and CM1.

There is no minimum eligibility for CP1. However, one is advised to clear all Core principle subjects first.

There will be no pre-requisite of passing other papers in order to register for CP2 & CP3.

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:-

The students can register for multiple exams in an exam session that do not fall on same date and time.

Syllabus may be obtained from Institute’s website - Syllabus for the Year 2022

Past examination papers and solutions are available from the Institute’s website - Check Here

Actuarial exams are conducted twice a year – typically May and November are the months when actuarial exams are conducted by the IAI. Examination dates for the upcoming exams are posted on the Institute website - Click Here for further details.

Institute conducts its Actuarial examination in centre based format Click Here to view the list of centers

No, there is no negative marking.

As a policy of the Institute,pass mark for the subject is communicated along with final result to the candidates.

Yes, you can use scientific calculators in the exam. However, you can use only one of the models from the list below:-

Please note that you will not be allowed to carry any other model of the calculator in the exam centre. From this list, Casio FX82 (ES/MS), Texas Instruments BA II Plus and Texas Instruments TI-30 are available in India. They can be ordered from sites like flipkart.com or ebay.co.in easily by the students.

The Institute of Actuaries of India does not recognize any coaching institutes, nor do we recommend that you undertake your actuarial studies via private tuitions. We strongly advise you to undertake self-study using the study material provided by the Institute. It should also be noted that most examinations require you to have both, knowledge of the prescribed study material as well as a good understanding of practical business issues.

There is no fixed duration to complete the course and you can take the examinations at a pace that suits your circumstances. Since all the 13 subjects prescribed are to be cleared before one is awarded the Fellowship, continued and sustained effort is necessary to complete the course. Additionally you need a minimum of three years’ relevant work experience for qualification as a Fellow. Keeping the above factors in mind, the typical time-frame for qualification in recent years has been 5-8 years.

 In order to qualify, there is a minimum work experience requirement of three years in an Actuarial field. Almost all reputable actuarial employers have attractive study programs to support your development and growth. These include time off from work to study and sit examinations, mentoring by senior colleagues as well as financial support.
Being an actuary is a professional qualification and you are expected to gain sufficient and relevant work experience alongside your studies. Typically, if you have passed two to four core technical papers, then you should begin actively researching your preferred career options and find an appropriate job.

A list of potential employers is available from the Institute’s website - Actuarial Employers in India
Career opportunities are regularly advertised in the Actuary India magazine as well posted on the Institute’s website from time to time.
Many reputable employers including consultancies and insurance companies recruit entry level actuarial students – typically entry level positions may be open to University graduates with no or very few actuarial exam passes.

Yes, you may, but you should keep your IAI membership updated, i.e. active.

Detailed information regarding the same is available at the Institute’s website - Types of Membership

It is not mandatory to pass Paper A and Paper B individually. Kindly refer the Pass Mark Rule from 2020 Examinations.

Result will be Absent for respective subject.

Yes, from December 2022, Institute has started conducting the CP3 (Communications Practice) examination in Online Format (MS Word) at the respective centres.

No, Institute will provide system for computer based examinations at the respective centres.