What is IC-01?
IC-01 (Principles of Insurance) is a compulsory Licentiate-level examination offered by the Insurance Institute of India (III). The foundations of insurance — risk, insurable interest, indemnity, utmost good faith, subrogation and the structure of the Indian insurance market.
How many questions are in the IC-01 exam?
The IC-01 exam has 100 MCQs to be answered in 120 minutes (2 hours). All questions must be attempted — there is no negative marking.
What is the pass mark for IC-01?
You need to score at least 60% to pass IC-01. Scoring 75% or above earns a Distinction grade.
How many credit points does IC-01 carry?
IC-01 carries 20 credit points. These count toward your III certification — 60 credits for Licentiate, 250 for Associateship, 490 for Fellowship.