iii Exam Pattern and Points Table

iii Exam Pattern and Points Table

  1. Each subject of study is assigned credit points as given in Annexure. The credit points are assigned, keeping in view, the level of examination and the difficulty level of the subject.
  2. The above system will allow flexibility to the candidates to choose subjects of his/her choice from the available subjects and accumulate credit Candidates shall be allowed to appear only for a maximum 6 papers in one examination.
  3. However, certain subjects will be compulsory i.e. if the candidate does not pass the compulsory subjects, in spite of accumulating credit points, he/she will not be granted Licentiate Certificate, Associateship and/or Fellowship
  4. It is necessary to pass the Licentiate Examination before registration for the compulsory subjects of the Associateship. Similarly, Candidates who have passed Associateship examination only will be allowed to register for the compulsory subjects at the Fellowship
  5. Following are the minimum credit points to be accumulated by a candidate for passing the Examinations.
Licentiate Certificate 60 credit points
Associateship Diploma 250 credit points(including the credit points at Licentiate level)
Fellowship Diploma 490 credit points ( including the credit points at Licentiate and Associateship levels)

The subjects and combined credit points for passing Licentiate, Associateship and Fellowship examinations are as under.

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 At Licentiate Examination:

  • Principles of Insurance (IC – 01) (20 Credit Points)

AND

  • Practice of Life Insurance (IC – 02) (20 Credit Points) OR Practice of General Insurance (IC- 11)(20 Credit Points)

Plus (any one subject of 20/30/40 credit points) from the Table 1 on below in order to acquire 60 credit points.

At Associateship Examination (eligible for registration only after passing the Licentiate examination) :

  •  Life Insurance Underwriting (IC – 22 for Life) (30 Credit Points) /OR General Insurance Underwriting (IC – 45 for Non-life) (30 Credit Points)

AND

  • Life Insurance Finance (IC – 26 for Life) (30 Credit Points) /OR General Insurance Accounts Preparation and Regulation of Investment (IC – 46 for Non-life) (30 Credit Points)

Plus other subjects from the Table 1 on Page 2 in order to acquire 250 credit points (including 60 Credit Points at the Licentiate level).

At Fellowship Examination (eligible for registration only after qualifying for the Associateship Examination) :

 One Compulsory Actuarial subject (i.e. any one Subject from the following)

  • Foundation of Actuarial Science ( (Life) (IC – 28) (40 Credit Points) OR
  • Foundation of Casualty Actuarial Science Part ± I (IC – 47) (Non-Life) (40 Credit Points) OR
  • Mathematical Basis of Life Assurance, (IC – 81) ( (Life) (40 Credit Points) OR
  • Foundation of Casualty Actuarial Science Part ±II (Non-Life) (IC-84) (40 Credit Points) OR
  • Actuarial Aspects of Product Development (IC – 92) ( (Life) (40 Credit Points)

Note: (Candidates are allowed to appear for more than one compulsory subjects (within the overall 6 papers in an examination) to acquire more credit points at the Fellowship examination.)

Plus other subjects from the Table 1 on Page 2 to acquire 490 credit points (including 250 credit points at the Associateship level) to pass the Fellowship Qualification.

Other subjects/papers and its credits for qualifying Licentiate, Associateship and Fellowship examination are:

Table 1 (Optional Subjects)

Sr.

No.

PaperNo.

/IC

Title Credit Point
1. 14 Regulations of Insurance Business (Common) 20
2. 23 Application of Life Assurance (Life) 30
3. 24 Legal Aspects of Life Assurance(Life) 30
4. 27 Health Insurance (Common) 30
5. 57 Fire and Consequential Loss Insurance (Non-Life) 30
6. 67 Marine Insurance (Non-Life) 30
7. 71 Agricultural Insurance (Non-Life) 30
8. 72 Motor Insurance (Non-Life) 30
9. 74 Liability Insurance (Non-Life) 30
10. 76 Aviation Insurance (Non-Life) 30
11. 77 Engineering Insurance (Non-Life) 30
12. 78 Miscellaneous Insurance (Non-Life) 30
13. 82 Statistics (Life) 40
14. 83 Group Insurance & Retirement Benefit Scheme (Life) 30
15. 85 Reinsurance Management (Common) 40
16. 86 Risk Management (Common) 40
17. 88 Marketing and Public Relations (Common) 30
18. 89 Management Accounting (Common) 40
19. 90 Human Resources Management (Common) 30
20. 99 Asset Management (Common) 30

CREDIT POINTS OF FOLLOWING SUBJECTS OF SPECIALISED DIPLOMA IS WITHDRAWN FROM JANUARY, 2016 ONWARDS.

However the Credit Points validity of Passed the following 9 subjects will remain for a period of 5 years from the date of passing.

Sr.No. Subject Code & Title Credit Points
1 (35) Basics of Health Insurance 30
2 (36) Health Insurance Claims 30
3 (37) Health Insurance Operations 30
4 (56) Fire Insurance Claims 30
5 (58) )LUH ,QVXUDQFH &RYHUDJH¶V 30
6 (59) Fire Insurance Rating and Underwriting 30
 

7

(60) Marine Cargo Insurance Principles and Underwriting (Introduced in lieu of IC 68) 30
8 (66) Marine Insurance Claims 30
 

9

(70) Marine Hull Underwriting and Claims (Introduced in lieu of IC 69)  

30

VALIDITY OF CREDIT POINTS:

  • Credit points of subjects passed prior to May-12 will be valid up to 03.2017. The credit point validity for passed subject will remain for a period of 5 years from date of passing.
  • Candidates who have completed Associateship qualification will have permanent 250 credits point (Including exempted candidates).
  • Candidates appearing for fellowship examination have to complete within a period of 7 years from passing first subject after completing Associateship qualification. i.e. the credit point of Fellowship passed Subject will remain valid for a period of 7 years from passing the
  • Credit Points will be granted to the candidates on the basis of their qualification from other Educational Institutions only if, they apply & register for I.I.I. examination within 5 years from passing their qualifying

Credit Points for current Subjects/Papers

Sr.

No.

 

Subject Code & Title

Credit Points
1 (01) Principles of Insurance 20
2 (02) Practice of Life Insurance 20
3 (11) Practice of General Insurance 20
4 (14) Regulation of Insurance Business 20
5 (22) Life Insurance Underwriting 30
6 (23) Application of Life Assurance 30
7 (24) Legal Aspects of Life Assurance 30
8 (26) Life Insurance Finance 30
9 (27) Health Insurance 30
10 (28) Foundation of Actuarial Science 40
11 (45) General Insurance Underwriting 30
 

12

(46) General Insurance Accounts and Regulation of Investment  

30

13 (47 / A-1) Foundation of Casualty Actuarial Science Part ± I 40
14 (57) Fire and Consequential Loss Insurance (Non-Life) 30
15 (67) Marine Insurance 30
16 (71) Agriculture Insurance 30
17 (72) Motor Insurance 30
18 (74) Liability Insurance 30
19 (76) Aviation Insurance 30
20 (77) Engineering Insurance 30
21 (78) Miscellaneous Insurance 30
22 (81) Mathematical Basis of Life Assurance 40

 

23 (82) Statistics 40
24 (83) Group Insurance & Retirement Benefit Scheme 30
25 (84 / A-2) Foundation of Casualty Actuarial Science Part ±II 40
26 (85) Reinsurance Management 40
27 (86) Risk Management 40
28 (88) Marketing and Public Relations 30
29 (89) Management Accounting 40
30 (90) Human Resources Management 30
31 (92) Actuarial Aspects of Product Development 40
32 (99) Asset Management 30

♦Online Mock test  for current Subjects/Papers

Sr.

No.

 

Subject Code & Title

Mock test Link
1 (01) Principles of Insurance Click Here
2 (02) Practice of Life Insurance Click Here
3 (11) Practice of General Insurance Click Here
4 (14) Regulation of Insurance Business Click Here
5 (22) Life Insurance Underwriting Click Here
6 (23) Application of Life Assurance Click here
7 (24) Legal Aspects of Life Assurance
8 (26) Life Insurance Finance Click Here
9 (27) Health Insurance Click Here
10 (28) Foundation of Actuarial Science
11 (45) General Insurance Underwriting Click Here
 

12

(46) General Insurance Accounts and Regulation of Investment Click Here
13 (47 / A-1) Foundation of Casualty Actuarial Science Part ± I
14 (57) Fire and Consequential Loss Insurance (Non-Life) Click Here
15 (67) Marine Insurance Click Here
16 (71) Agriculture Insurance Click Here
17 (72) Motor Insurance Click Here
18 (74) Liability Insurance Click here
19 (76) Aviation Insurance Click Here
20 (77) Engineering Insurance Click here
21 (78) Miscellaneous Insurance  Click Here
23 (82) Statistics 40
24 (83) Group Insurance & Retirement Benefit Scheme 30
25 (84 / A-2) Foundation of Casualty Actuarial Science Part ±II 40
26 (85) Reinsurance Management Click Here
27 (86) Risk Management Click Here
28 (88) Marketing and Public Relations Click Here
29 (89) Management Accounting Click Here
30 (90) Human Resources Management Click Here
31 (92) Actuarial Aspects of Product Development Click Here
32 (99) Asset Management 30

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