In India, the Insurance Institute of India was formed for the purpose of promoting insurance education and training. It conducts various examinations but, the basic level examination to start with your specialized qualification in the insurance field from the Indian context is the licentiate exam held by the Insurance Institute of India. In general, the exams consists of three basic stages like LICENTIATE, ASSOCIATESHIP and FELLOWSHIP exams. These exams give you the benchmark for expertise in the field of insurance.
The following are the brief description of the various stages of an exam by the Insurance Institute of India:
1) Licentiate exam – This is basically an introductory course which consists of two compulsory papers i.e. Principles of Insurance and Practice of Insurance (Life and Non-Life) and the second paper is optional from professional exam curriculum. This examination has a good industry reputation and ultimately one can pass associate and fellow examination. A candidate can pass the Licentiate exam only after you have cleared the compulsory papers of Licentiate and accumulates 60 credit points.
2) Associateship exam – At this level, students may have option to choose subjects either Life or Non-Life or both combined. The scheme of study provides knowledge of chosen subject. However, candidates will have to get familiar with the practical aspects related to these subjects.
3) Fellowship exam – This is the highest level of exam held by the Insurance Institute of India and it also involves advanced studies in specified areas of insurance.
In this article, we will go through briefly about the various licentiate exams. They are:
1) Licentiate in Life Insurance – This exam consists of three papers namely Principles of Insurance (IC 01), Practice of Life Insurance (IC 02), Regulation of Insurance Business (IC 14).
2) Licentiate in General Insurance exam – This exam consists of three papers namely Principles of Insurance (IC 01), Practice of General Insurance (IC 11), Regulation of Insurance Business (IC 14). Common exam papers for both the exams are Principles of Insurance (IC01) and Regulation of Insurance Business papers (IC14) are common to both exams.
So, to pass these licentiate exams, you need to give the Insurance of India Mock Test which will help you clear the exams in the first attempt.
PASS4SURE Insurance Institute of India mock tests are designed in such a way that will ensure the student to clear his or her exam in the very first attempt. They provide explanations to almost every question so that you can understand and remember the answers easily. A detailed step by step solutions are also provided to the mathematical problems. Other than this, they offer unlimited attempts to practice for the exam. You can practice for six months plus one month free extension is given to the students if needed.
Questions in the PASS4SURE Insurance Institute of India mock test question bank have been selected very prudently to ensure that only the most important questions are included so that the students save their time and clear the exams in their first attempt.
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