Licentiate, Associate and fellowship Exam Subjects

Licentiate Exams:

1. IC 01 Principles of Insurance Exam:
   This exam covers the fundamental principles of insurance, including risk management, types of insurance, and key terminologies essential for anyone entering the insurance industry.

2. IC 02 Practice of Life Insurance Exam:
   Focused on the practice of life insurance, this exam delves into policy structures, premium calculations, and the underwriting process of life insurance products.

3. IC 11 Practice of General Insurance Exam:
   This subject teaches the practices of non-life insurance, covering areas such as fire, marine, and motor insurance, as well as underwriting and claim management.

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Associateship Exams:

1. IC 22 Life Insurance Underwriting Exam:
   This exam addresses the principles and procedures involved in underwriting life insurance, including risk assessment and decision-making processes for issuing policies.

2. IC 26 Life Insurance Finance:
   Covers the financial aspects of life insurance companies, including investment strategies, reserves, financial statements, and solvency requirements.

3. IC 45 General Insurance Underwriting:
   Focuses on the underwriting process for general insurance products, assessing risks and determining premium levels for policies like motor, property, and liability insurance.

4. IC 46 General Insurance Accounts Preparation:
   This subject examines the accounting and financial reporting processes specific to general insurance companies, including reserves, claims, and policyholder funds.

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Fellowship Examination:

1. IC 47A-1 Casualty Actuarial Science Part 1:
   Introduces the basics of casualty actuarial science, covering the estimation of liabilities, setting reserves, and analyzing risk for casualty insurance lines.

2. IC 92 Actuarial Aspects:
   Focuses on advanced actuarial methods in insurance, covering topics like mortality rates, reserves, premium setting, and risk evaluation for life and non-life insurance.

3. AS 05 iv Finance and Investment:
   This exam covers financial markets, instruments, and investment strategies used by insurance companies, including portfolio management and risk-return analysis.

4. AS 05 v Actuarial Aspects of Risk Management:
   Deals with the actuarial techniques involved in managing financial and insurance risks, including risk modeling and quantitative methods for assessing uncertainty.

5. AS 03 Finance and Economics for Actuarial Science:
   Explores the economic and financial environment in which insurance operates, including interest rates, inflation, and their impact on insurance and actuarial decisions.

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Optional Subjects:

1. IC 14 Regulation of Insurance Business Exam:
   Focuses on the legal and regulatory framework governing insurance businesses in India, including the role of IRDA and key legislation affecting the industry.

2. IC 24 Legal Aspects of Life Assurance:
   This subject covers the legal principles underlying life insurance contracts, policyholder rights, and the responsibilities of insurers under Indian law.

3. IC 27 Health Insurance Exam:
   Provides insights into health insurance products, including coverage types, policy design, pricing, and the legal and regulatory environment surrounding health insurance.

4. IC 39 Fraud Risk Management in Insurance:
   This exam covers the detection, prevention, and management of fraud within the insurance industry, including case studies and real-world examples.

5. IC 57 Fire & Consequential Loss Insurance Exam:
   Focuses on fire insurance policies, including risk assessment, claim processes, and how consequential losses are covered and managed.  For Optional Subject Mock Test Click Here

6. IC 67 Marine Insurance Exam:
   Explores marine insurance, including cargo, hull, and liability coverage, and the risks associated with maritime transportation.

7. IC 71 Agricultural Insurance:
   Covers insurance solutions tailored for agricultural risks, including crop insurance, weather-related risk management, and rural insurance products.

8. IC 72 Motor Insurance Exam:
   Focuses on motor insurance policies, covering both private and commercial vehicle insurance, third-party liability, and claims management.

9. IC 74 Liability Insurance:
   Discusses various liability insurance products such as professional indemnity, product liability, and public liability, with emphasis on underwriting and claims.

10. IC 76 Aviation Insurance:
    Covers insurance policies designed for the aviation industry, including coverage for aircraft, crew, passengers, and third-party liabilities.

11. IC 77 Engineering Insurance Exam:
    This subject delves into insurance policies for engineering projects, including contractor’s all-risk insurance, machinery breakdown, and plant insurance.

12. IC 78 Miscellaneous Insurance Exam:
    Focuses on various niche insurance products like burglary, credit, and personal accident insurance, along with their underwriting and claims procedures.

13. IC 83 Group Insurance:
    This exam covers group insurance schemes, including life and health insurance products offered to large groups such as employees of an organization.

14. IC 85 Reinsurance Management Exam:
    Focuses on reinsurance contracts, treaties, and proportional and non-proportional reinsurance structures used by insurers to manage risk.

15. IC 86 Risk Management Exam:
    Covers advanced risk management strategies for insurance companies, including identifying, assessing, and mitigating financial and operational risks.

16. IC 88 Marketing and Public Relations:
    Examines marketing strategies and public relations techniques specific to the insurance industry, including customer engagement and brand management.

17. IC 89 Management Accounting:
    Focuses on accounting practices within insurance companies, including budgeting, cost management, and financial performance analysis.

18. IC 90 Human Resource Management (HRM):
    This subject covers HRM principles in the insurance sector, including recruitment, employee retention, training, and performance management.

19. IC 99 Asset Management Exam:
    Focuses on managing the investment portfolios of insurance companies, including asset allocation, investment performance, and regulatory compliance.

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