ACET Exam: The Institute of Actuaries of India conducts Actuarial Common Entrance Test or ACET Exam thrice a year. ACET Admit card is released by the IAI. Those who could not appear or qualify in ACET exam can re-appear by registering for the exam again. It is a computer-based test which will consist of MCQ type questions. Candidate needs to attempt all questions within the given timeframe of 3 hours. After clearing this exam, a candidate can apply for membership in IAI and hence becomes qualified to give core actuarial exams according to the curriculum.