Insurance Institute of India Exams - Licentiate, Associateship & Fellowship Exam Mock Tests (Life & Non-Life)

Licentiate Exams

Associateship Exams

IC 26

Life Insurance Finance

Study notes

IC 45

General Insurance Underwriting

IC 46

General Insurance Accounts Preparation

Fellowship Examination

IC 47A-1

Casualty Actuarial Science Part 1

IC 92

Actuarial Aspects

AS 05 iv

Finance and Investment

AS 05 v

Actuarial Aspects of Risk Management

AS 03

Finance and Economics for Actuarial Science

Optional Subjects

IC 27

Health Insurance exam

Study notes

IC 39

Fraud Risk Management in Insurance

IC 57

Fire & Consequential Loss Insurance Exam

Study notes

IC 67

Marine Insurance Exam

IC 71

Agricultural Insurance

IC 72

Motor Insurance Exam

Study notes

IC 74

Liability Insurance

IC 76

Aviation Insurance

IC 77

Engineering Insurance Exam

IC 78

Miscellaneous insurance Exam

Study notes

IC 83

Group Insurance

Study notes

IC 85

Reinsurance Management Exam

IC 86

Risk Management Exam

Study notes

IC 88

Marketing and Public relations

IC 89

Management Accounting

Study notes

IC 90

Human Resource Management (HRM)

Study notes

IC 99

Asset Management Exam

Study notes

Exam Information

(a) LICENTIATE EXAMINATION: This is essentially an introductory course dealing with the two compulsory papers i.e. Principles of Insurance and Practice of Insurance (Life / Non-Life) and one more paper as optional from professional exam curriculum.

(b) ASSOCIATESHIP EXAMINATION: At this level, there are two compulsory papers i.e. i) Underwriting & ii) Accounts and students may have option to choose subjects either Life or Non-Life. The scheme of study provides knowledge of chosen subject. However, candidates will have to get familiar with the practical aspects related to the Associateship Level subjects.

(c) FELLOWSHIP EXAMINATION: This is the highest level and there is one compulsory Actuarial subject to be taken by the candidate. Fellowship level involves advanced studies of specified areas.

Time Limit: There is no time limit for passing the professional examinations of the III. However, credit points will be valid only for five years from the date of passing the subject. After passing Associateship Examination, validity of the credit points of the subject passed earlier (till accumulation of 250 credit points) shall remain permanent, however thereafter to qualify for Fellowship Examination, candidate must acquire additional 240 credit points (including compulsory papers) within a time limit of seven years.

Requirement for passing the examination:

Passing Marks for all the subjects/papers of objective type Multiple Choice Question (MCQ) (On-line/ Off-line) is 60% & above. The duration of examination is 2 hours. If a candidate obtains at least 75% of the maximum marks in any subject, he/ she will be deemed to have passed with Distinction in that subject. Certificates / Diplomas will be issued to candidates only on their obtaining minimum required Credit Points and passing compulsory subjects. AIII and FIII Diploma will be awarded within a month after declaration of result.

Fee structure

Particulars Fees in Indian Rupees(INR)
India, Bhutan, Nepal, Bangaladesh, Srilanka, Mynamar, Afghanistan, Pakistan, Maldives Overseas
Registration Fee (inclusive of life membership fee) 700 3000
Paper Enrollment Fee for 20 Credit Points (per subject) 500 2500
Paper Enrollment Fee for 30 Credit Points (per subject) 700 3000
Paper Enrollment Fee for 40 Credit Points (per subject) 800 3500
Paper Enrollment Fee for Specialized Diploma (per subject of Health Diploma, Fire Diploma, Marine Diploma, CPAIM, Diploma & Advanced Diploma in Life Insurance Underwriting) 700 3000
Paper Enrollment Fee for Specialized Diploma (Casualty Actuarial Science Diploma) 800 NA
Paper Enrollment Fee for Certificate Course on Compliance, Governance & Risk Management in Insurance 1000 NA
One time Registration fee with compulsory subjects of Associateship Diploma (In lieu of diploma fee) 1000 4000
One time Registration fee with compulsory subjects of Fellowship (In lieu of diploma fee) 1000 4000