Pass Licentiate Exam
Licentiate Exam–Study Tips
The Insurance Institute of India, or III, was founded in 1955 and has since promoted insurance education and training throughout the country. India’s Insurance Institute offers executive diploma programs in insurance marketing, health insurance, and insurance management. Additionally, it administers IRDAI exams to agents, surveyors, marketing firms, and web aggregators. Apart from that, it offers online broker training and a few high-quality certificate programs. Licentiate Associateship and Fellowship are three stages in which candidates must earn credit points in order to earn the appropriate designations.
The examination will take the following format
* Licentiate exam – This is a first-level examination for students with a background in both life and general insurance. Candidates must obtain 60 credit points by passing two mandatory papers. The Licentiate Examination is taken entirely online. In India’s major cities, the III has designated centers.
III awards the designation of licentiate and issues a certificate to the candidate who successfully completes the program.
* ASSOCIATESHIP – This is the second level of the exam, and it tests your knowledge of a wide range of insurance topics from a practical point of view. The candidate can select from the fields of life insurance, general insurance, or both, or he can choose both. 60 credits are Needed for the candidate to pass the licentiate exam. In addition, the candidate must obtain 190 credit points and pass two required papers. It takes 240 credit points in total to become an Associateship III, which is what you need to become.
* FELLOWSHIP – In order to pass this exam, you need to know a lot about all different types of insurance. This is the third and last level of the exam. In addition to getting 250 credit points for the licentiate and associate exams, the candidate must also get 240 credit points and pass a mandatory paper. To become a Fellow III, you’ll need 490 credit points. III gives the candidate a certificate that says he or she has been given the title of “fellow.”
Exams for most of the subjects are done online and in a multiple-choice format, but some exams are done on paper and pen and are subjective. To pass, a student must score 60% or above. To get a distinction, they must score 75% or above.
Study Materials:–III publishes study materials for all required and optional subjects. A candidate can order them online and they are sent to their home address after they have done that.
Tips for passing the Licentiate exam: – First, let’s learn about the subjects and think about taking some extra papers.
IC 01: Insurance Principles – The goal of this paper is to teach the student about some of the basic principles of insurance, which are the foundations of the insurance business. There are a lot of things you need to know at this level to understand how insurance works. There are very important things to know about the principles of utmost good faith, insurance, proximate cause, indemnity, and indemnity.
IC 02: Life Insurance Practice – This paper gives an overview of some of the basics of life insurance, including the terminology used and how it works. For the subjects of Associateship and Fellowship, the foundation for this subject is laid out in this one.
back of it. This subject also introduces us to other types of General Insurance, like property and casualty. This subject serves as the foundation for the General Insurance subjects of Associateship and Fellowship, both of which are based on it.
This is true, even though the candidate can choose 20 credits from a wide range of subjects. At this point, it’s a good idea to start with a basic foundational subject that can lay the groundwork for higher levels of study based on the candidate’s interests and the scope of his or her work. It is one of the recommended papers for students to take. It is called IC 14.
5 Easy Tips to Pass Licentiate Exam
* Licentiate level can be passed by studying the study material that III has made available and going through the MCQ that it has.
* Make sure you read through all of your study material at least once and pay attention to the main ideas because some questions can be based on how you use them.
* If the student has chosen IC 14 Regulation of Insurance Business as an optional paper, it is critical to remember the dates on which the regulations were passed.
* The most important thing is to get used to the computer-based test as soon as you can. The student should spend some time getting used to the place where they are going to be for the first time.
* Candidate should spend all the time allotted (2 hours) reviewing the answers and cross-checking them because the options can be very close at times. Candidates can’t go back and make changes after they’ve taken the test.