IRDA Exam

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IRDA Exam

One of the most coveted institutes, IRDA, an abbreviation for the Insurance Regulatory Development Authority of India, conducts scores fo exams for various posts across the sector. Not only restricted to Insurance agents posts but the authority also conducts exams for the posts ranging from Assistant Manager to General Manager. To provide clarity, here is a blog that will shed light on various parameters related to the IRDA exam especially for Insurance Agents and Assistant Manager posts! 

When is the Exam Conducted?

The IRDA exam date is not fixed like some of the upcoming government exams or which have already been conducted. The notification of the test is released only when there are a number of vacancies available to recruit candidates in the coveted institute. Generally, the IRDA exam is conducted for the following posts: 

  • Assistant Manager
  • Manager
  • Asst. General Manager
  • Dy. General Manager
  • General Manager

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IRDA Exam Eligibility

The candidate applying for the examination must have passed 10+2 from any recognised board of education, in general. Furthermore, if an applicant resides in a rural area where the population is less than five thousand then the criteria is that he should have completed class 10th from a recognized board. For posts other than Assistant Manager, the detailed eligibility parameters are released with the notification. When it comes to the post of Assistant Manager, an applicant must:

  • Hold a bachelor’s degree in any discipline from a university recognised by the act of parliament or that of a state. 
  • Have secured at least 60% marks in graduation.
  • Should be in the 21-30 age group bracket

Note: There are age relaxations for candidates belonging to reserved categories. 

IRDA Exam Pattern and Syllabus: Insurance Agents

Be it RBI Grade B or NABARD Grade A, there are certain topics and sections that form an integral part of scores of entrance exams. Similarly, it is important to go through the syllabus as well as the IRDA exam pattern in order to score well. Both, the syllabus and structure for the IRDA insurance agent exam have been given a rundown below: 

Pattern

The questions asked in the IRDA exam are multiple-choice in nature and have five probable answers to each question.

Number of Questions 50
Marks Allotted to Each Question 1 mark (there is no negative marking)
Total Time of Examination 1 hour
Total Marks 50 marks
Passing Marks 35%

Important Topics

  • Providing professional advice
  • Understanding customer protection and ethics
  • Fulfilling legal and regulatory requirements
  • Understanding insurance
  • Providing technical product information
  • Understanding claims

IRDA Exam Pattern for the Post of Assistant Manager

The post of Assistant Manager comes with a wide range of responsibilities and due to this, the exam, in comparison to that of insurance agents, is slightly tough. The exam is conducted in 3 phases namely, Prelims, Mains, and Personal Interview. Go through the following tables to understand the IRDA pattern in depth.

PRELIMS

Sections Total Questions Marks  Duration [minutes]
General Reasoning 40 40 90
Aptitude 40 40 90
English Language 40 40 90
Basic Awareness 40 40 90

MAINS

Section Total Marks Time [Minutes]
English 100 60
Socio-Economic Issues 100 60
Insurance & Management  Related Topics 100 60

Assistant Manager Post Syllabus

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Unlike the exam for Insurance agents, there are a wide range of topics from which questions are framed for the Asst. Manager post-exam. The IRDA exam syllabus for Asst. Manager post has been given a rundown below: 

  • Antonyms and Synonyms
  • Data Sufficiency
  • Important Books and Authors
  • English Grammar
  • Profit and Loss
  • Static GK Topics
  • International & National Current Affairs
  • Mensuration Formulas and Questions
  • Arithmetical Reasoning and Number-Series, etc.

IRDA Exam Registration Process

The candidates who want to appear in IRDA examination have to fill the form online through their official website. Also, before applying for the IRDA exam, they need to complete a 50-hour training session from an IRDA approved institution if they want to become a Life or General Insurance agent. 

  • But If you want to become a Composite Insurance agent, you need to complete 75 hours training session from an IRDA approved institution.
  • Make sure that you add all the information carefully on the application form.
  • Upon completion of the IRDA exam form, you will receive a unique registration number, which will be used to pay the fees online.
  • The application fees can be paid via online mode only.

Thus, the IRDA exam is a gateway for those who want to build a career in the Insurance sector. If you want to pursue insurance or stock market-related courses from universities abroad but are not sure how to go about it then reach out to our experts at Leverage Edu who right from helping you select the most suitable university to completing the application-related formalities will provide assistance at every step!

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