What is the IC38 Examination? How to clear it?
The IC 38 test is the first step in the process of becoming an IRDAI Agent/Insurance Advisor.
This pre-employment qualification examination is conducted on behalf of IRDAI (Insurance Regulatory and Development Authority of India) by the Insurance Institute of India (III). All basic features of the Life, Health, and General Insurance industries are covered in the IC38 Subject. This topic spans the history of insurance from its conception to reinsurance. IC 38 is an online exam; no offline exams are currently being offered. The passing score is 18 out of 50, or 35%. Even if a candidate receives 17 out of a possible 20, one mark will be provided as a grace mark in order to pass the exam. To pass the test, we must answer at least 17 accurate questions in total.
Criteria for becoming a licensed insurance agent – IRDA is India’s insurance regulatory authority. According to IRDA, anyone interested in becoming an insurance agent must meet the following criteria:-
* The applicant must be at least 18 years old.
* The minimum educational qualification necessary is a normal 12th pass for urban regions and the 10th pass for rural areas, according to Regulation 4 of the IRDAI (Licensing of Insurance Agents) Regulation 2000. (if the population of the area is less than 50,000)
*Working as an insurance agent and soliciting insurance business with no more than one life and one general insurance firm is now compulsory by law.
*Candidate must pass the IRDAI IC 38 examination, which is a prerequisite for agent recruitment.
*To become a life or general insurance agent, a candidate must complete 50 hours of training at an IRDAI authorized training facility. A 75-hour training course is required if the individual is applying for the first time for a composite broking license, which includes both life and general insurance. Insurance firms will form partnerships with training providers to provide training to their agents.
*The license is valid for three years after it is awarded.
During the renewal process, the candidate
*To renew the license for another three years, the applicant does not need to retake the test but must complete 25 hours of practical training.
Specifications of the IC 38 Examination
Here are some helpful hints for you to consider and use in order to make your exam preparation go more smoothly:
* To begin, the candidate must enroll in and register with an insurance company of his choice. He will then be able to write the exam through the insurance.
* A cost of 500/- rupees is required to sit for the examination.
* IC 38 is an online exam; no offline exams are currently being offered. The test will be administered through a computer terminal in designated centers.
* The exam has a one-hour or 60-minute time limit.
* There are 50 multiple choice questions in all, with just one correct answer for each.
* Every correct answer receives one mark, and there is no negative grading for incorrect answers.
* The minimum score required to pass the test is 18 out of 50, or 35%. Even if a candidate receives 17 out of a possible 20, a grace mark will be given to allow them to pass the exam. To pass the test, we must correctly answer at least 17 questions.
* Common insurance issues, General insurance, life insurance, and Health Insurance will be the topics of the multiple-choice questions.
* As soon as the candidate submits the test, they create the result.
Tips on how to pass the IC38 Examination
We’ll provide you a few helpful hints to help you pass this test. We’ll also suggest some books to read and offer tips on how to study for this exam.
* There are no negative marketing questions in the test, so don’t leave any questions unanswered.
* Those who attempt to take the test without any prior insurance experience or without consulting the study materials even once may be difficult to pass. As a result, it is strongly advised that you review the study materials at least once before taking the exam. Covering the full curriculum at least once will provide the individual the essential confidence to pass the test on the first try.
* During the test, it is recommended that the applicant read all the questions carefully, particularly the alternatives that allow the candidate to link the closest solution, even if the candidate is not sure. If he cannot recall the exact answer.
*Spend the entire one hour allotted to reading the questions and alternatives attentively. Never rush through the test.
* Time management is crucial when writing a 60 minute multiple-choice test. The test takes around 1 minute and 20 seconds for each question. Keeping track of the proper solution should not take up too much time. In this instance, he may not have enough time to answer all 50 questions.
* Keep some time free to rapidly revise the answers at the conclusion. This minimizes the probability of mistyping and enhances the chance of passing the test.
Study Materials and Guides for IC 38
. The insurance institute of India’s website offers free downloads of the syllabus and study materials.
. This study material is the greatest way to prepare for the exam and may be called the final guidance. The entire syllabus is separated into three sections: life, non-life, and health, and is organized into chapters. There are also sample and practice multiple-choice questions, giving the candidate a good indication of the types of questions to expect on the test.
. A few mock tests are available on the internet for practice.
CLICK HERE TO START IC38 MOCK TEST