(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.
|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|