LETS UNDERSTAND ABOUT ASSOCIATE EXAMS
The Insurance Institute of India was formed in the year 1955, with an objective of promoting insurance education and training for the insurance advisors of the country. This institute conducts various examinations to inculcate specialized qualifications and expertise of insurance with Indian context in the aspirants. These exams are usually conducted on three levels which are Licentiate Examination, Associateship Examination and Fellowship Examination. Each level is a benchmark of your expertise and knowledge in the field.
We have discussed about Licentiate exams in our previous blog. Lets understand about Associate exams.
Associateship is the next level after Licentiate exam which tests knowledge on 6 different subjects of insurance. Out of these 6, two subjects are mandatory, the rest 4 subjects optional by nature. Candidates can choose from several available subjects.
Candidates are eligible for registration of Associateship Examination only after passing the Licentiate examination. The candidate has to appear for the following exams:
i) Life Insurance Underwriting (IC - 22 for Life) (30 Credit Points) /OR General Insurance Underwriting (IC - 45 for Non-life) (30 Credit Points) AND
ii) 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 as given in the Table 1 on Page 2 (III website) in order to acquire 250 credit points (including 60 Credit Points at the Licentiate level).
In order to clear the Associate exam in the first attempt, a mock test can be proved to be of a great help. 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 Associate exam mock test series before you appear for the actual Associate exam.
Difficulty level of Associate exam is moderate. There are simple MCQ type questions which can be easily attempted if you have read the workbook and your concepts are clear. With regular study and practice students can easily conquer these subjects.
The details regarding the list of subjects and related credit points, is given on the website of Insurance Institute of India. This information will help you in right selection of subjects for scoring high credit points. It is important to know that, with these certifications in your CV, Insurance Companies will come to know about your domain knowledge in this industry which will definitely multiply your chances of getting desired job.