IC-14 Optional · Optional Life & General Insurance

Regulations of Insurance Business — Mock Tests & Exam Prep

Regulation of insurance business — the IRDAI framework, the Insurance Act 1938, intermediaries and consumer protection.

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100
Questions per exam
2 hrs
Exam duration
60%
Pass mark
20
Credit points

What you'll practise

📝
Real exam-style MCQs
Question bank aligned to the III syllabus for IC-14.
⏱
Timed mock exams
Full 100-question, 2-hour papers that mirror the real III format.
💡
Instant explanations
Every question includes a clear explanation of why the answer is correct.
🔁
Spaced repetition
Missed questions resurface at the right time so you retain them.

Chapters covered

  1. 1.India and the Insurance Act 1938
  2. 2.IRDAI Functions and Insurance Councils
  3. 3.IRDAI and its Licensing Functions
  4. 4.Regulations on Conduct of Business – I
  5. 5.Regulations on Conduct of Business – II
  6. 6.Policyholders' Rights: Assignment, Nomination and Transfer
  7. 7.Protection of Policyholders Interest
  8. 8.Dispute Resolution Mechanism
  9. 9.Financial Regulatory Aspects: Solvency Margin and Investments
  10. 10.International Trends in Insurance Regulation

Frequently asked questions

What is IC-14?
IC-14 (Regulations of Insurance Business) is an optional Optional-level examination offered by the Insurance Institute of India (III). Regulation of insurance business — the IRDAI framework, the Insurance Act 1938, intermediaries and consumer protection.
How many questions are in the IC-14 exam?
The IC-14 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-14?
You need to score at least 60% to pass IC-14. Scoring 75% or above earns a Distinction grade.
How many credit points does IC-14 carry?
IC-14 carries 20 credit points. These count toward your III certification — 60 credits for Licentiate, 250 for Associateship, 490 for Fellowship.

Related subjects

IC-01
Principles of Insurance
IC-02
Practice of Life Insurance
IC-11
Practice of General Insurance
IC-22
Life Insurance Underwriting
IC-45
General Insurance Underwriting
IC-26
Life Insurance Finance

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