Question: What Is IC 33?

What score do I need to pass the insurance exam?

70%Pass Rates and Recommended Study Time Nevertheless, the passing score for all exams is 70%, and utilizing exam study tools can help you gauge whether or not you are on target to pass on the first try.

The average exam-taker should expect to spend about 35 to 40 hours studying to pass the life and health insurance exam..

How many insurance exams are there?

In 2019, LIC had released 17000+ vacancies three exams i.e. LIC AAO, LIC ADO & LIC Assistant. This shows that there are immense opportunities in Insurance sector.

How can I prepare for IRDA exam?

How to Prepare for IRDA Exam – Reasoning. Start your preparation with easy and scoring topics like Arrangement & Pattern and Coding Decoding. These two topics will most probably hold a weightage of 10-15 marks. Apart from these, regularly practice Puzzles, because it will be asked in exam for 10-15 marks.

Why is IRDA exam?

IRDA Exam is conducted to recruit Insurance agents for various insurance companies. IRDA exam is also known as Insurance Agent Exam or IC-38 exam. Qualifying IRDA Exam will get an applicant a License of Insurance which will be valid for a period of 3 years.

What is IC short for?

AcronymDefinitionICIntelligence CommunityICI See (chat code)ICIntensive CareICInternal Combustion (engine)210 more rows

What is the full form of IRDA?

What is Insurance Regulatory and Development Authority (IRDA)? IRDA is the regulatory body in India that governs both Life insurance and General insurance companies.

What is the fees of IRDA exam?

The registration fee for attending the IRDA agent exam is Rs. 700/-. Exam fee for attending the test is Rs.

What is IC insurance?

IC Insurance – Occupational Accident, Auto, Cargo and GL But getting the right coverage can be complicated.

How tough is IRDA exam?

Pulkit, it is not tough. Don’t take it casually, be serious , that’s all. It I not designed for super intelligent. It is more to judge whether you have acquired basic theoretical knowledge.

How can I get IRDA Licence?

In order to obtain a new surveyor license, you need to fill and submit an application form to IRDA along with the scanned copies of the supporting documents….To apply for a New License:ButtonDescriptionSubmitClick to submit the application form once you have selected the declaration check box.7 more rows

Which risk Cannot be insured?

Speculative risks are almost never insured by insurance companies, unlike pure risks. Insurance companies require policyholders to submit proof of loss (often via bills) before they will agree to pay for damages. Losses that occur more frequently or have a higher required benefit normally have a higher premium.

What is the full form of IC 38?

The eligibility to become an Insurance Agent is that one needs to pass IRDA IC38 i.e. Insurance Regulatory and Development Authority which is an independent body for endorsing and regulating of insurance.

What is IC 38 exam?

IC38 is a subject related to Insurance Industry. IC38 exam is conducted for people who want to become insurance adviser in any Insurance company. IC38 Subject contains all basic aspect of Life, Health and General Insurance industry. This Subject starts with inception of insurance to Reinsurance.

What key impact will the agent have in low persistency?

One of the obvious effects of low persistency is that individuals who discontinue paying their premiums and have their policies lapse face the risk of having no cover and leaving their families destitute in the event of their untimely death.

How can I pass IRDA exam?

Passing 35% =18 (even you score 17 marks ,One mark will be given as grace )Strategy To Pass this IC 38 LIC agent Exam.Obtain Minimum Marks.First Solve 10 question minimum——————10.Tick Ans “C” option remaining 40 Question———–10 (Probability)Total Obtain Marks=======20(Passed)

How do you calculate persistency?

Persistency ratio is calculated thus: number of policyholders paying the premium divided by net active policyholders, multiplied by 100.

What are the factors that will affect persistency?

Based on the findings, age, mode of payment, gender and marital status, occupation have been identified as the significant factors and also four survival analysis models were formulated to analyze the relationship between the duration of the life insurance policy with those identified variables.

What is IC 33 of IRDA?

IRDA is the abbreviation of Insurance Regulatory and Development Authority. This is the regulatory body of Indian Insurance Industry. To become a Life Insurance Agent in India, one needs to pass the exam directed by IRDA. This exam is called IC-33 and conducted by Insurance Institute of India on behalf of IRDA.

What is the passing marks for IRDA exam?

Measure intended to attract more advisors to insurance. Measure intended to attract more advisors to insurance. IRDA has reduced the passing mark for the pre-recruitment examination of insurance agents from 50 percent to 35 percent.

Do LIC agents get salary?

Lifelong income: LIC pays you the commissions on premiums for policies you sold long after you retire. Some LIC agents earn between Rs. 1.2 million to Rs. 1.5 million per month, which is higher than the best paid job in India.

What is IRDA exam?

IRDA exam is an all India level exam that recruits eligible candidates for dignified posts in IRDA. The exam for IRDA is not an annual process, and the recruitment is done based on the requirement of the company.