An Overview of Licentiate Exam

Posted on 20 Oct 2019

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It will be interesting to note that insurance institute of India was formed with an objective of promoting insurance education and training in insurance advisors of the country. This institute conducts various examinations to inculcate specialized qualifications and expertise of insurance with Indian context in the aspirants. The most basic level of such examinations for inculcating specialized qualifications of insurance is licentiate exam. These exams are usually conducted on three levels such as licentiate, associateship and fellowship. Each level is a benchmark of your expertise and knowledge in the field.

If you are planning to appear for licentiate exam then we have come up with a quick overview for helping you to understand what this exam is all about.

Licentiate exam!

Licentiate exam is the most basic and introductory level course having two compulsory papers of Principles of Insurance and Practice of Insurance 9life and non life0. Apart from this there is an optional paper from the curriculum of the professional exam. In order to pass the licentiate exam, a candidate not only has to clear the two compulsory papers but also score minimum 60 credit points. Licentiate exam not only have good industry reputation but it also opens your door to advance insurance agent exams such as associateship and fellowship exams.

Licentiate exam can be broadly categorized in two categories.

  • Licentiate exam for life insurance. In this exam you have to give three papers of Principles of insurance, Practice of life insurance and Regulation of business insurance.
  • Licentiate exam for general insurance. Here again Principles of insurance and Regulation of business insurance papers are common in both the categories. Third paper in the given category is practice of general insurance.

Giving licentiate exam mock test before attempting the actual exam can be a great help in clearing the exam in first attempt. It gives you a fair idea about your strength and weaknesses and at the same time you learn about managing your time. Subscribe for some good licentiate exam mock test series before you give licentiate exam 2019.

Difficulty level of licentiate exam is very low. There are simple MCQ type questions which can be easily attempted if your concepts are clear and have read the workbook cover to cover. For students with non-commerce background subjects like general insurance accounts and insurance principles can be vast but with regular study and practice they can get a good grip over the subject.

From the website of insurance institute of India you can get the list of the subjects and the credit points you score from various subjects. This information can help you in right selection of subjects for scoring high credit points. It will be interesting to note that this exam will not do any value addition in your life if you are not working in the insurance industry. But at the same time with this certification in your CV, insurance company will come to know you have domain knowledge and your chances of getting the job will increase by many folds.