No way it's running correctly then. Trust me if it was working there is no way in you will have tearing, and stuttering will only happen when you drop to like 45 FPS or less in game. It might be a few different things:
1. Make sure you have G-Sync enabled in the control panel
2. Make sure the game you're running has in game V-Sync off. This is a common issue and will be a stuttery mess if you don't catch this.
3. Fresh express install the Nvidia driver before playing to be sure it's on.
Sometimes the G-Sync on my monitor stops working even though it's activated, and I have to reinstall the driver to make sure it's working. Not sure if it's an Acer monitor issue, or a GPU problem, but it happens. I have a feeling this s up when the PC goes to sleep and the monitor shuts itself off. This monitor and Windows 8 makes the notification tone like when you plug something in or disconnect when it sleeps, and then I have the issue. I may open a ticket w/ Acer to ask them about it.
An easy way to test that it's on is go into your control panel under Manage 3D settings > Preferred Refresh Rate > and change to application controlled. Now in game try changing from 144hz or 120hz down to 60hz, you should see that the G-sync locks your framerate to the chosen framerate you select in game.Use Shadowplay or FRAPS or whatever so you can monitor your framerate. If the frame rate is running higher than you selected, G-Sync is obviously not syncing itself.