Online Mock test (Model Test) for Insurance Licentiate Exam in Life Insurance and Licentiate in General Insurance (Non-Life) Exam.
We offer online mock test from Huge Question bank with Answers revised and updated till August 2013 for Licentiate in Life Insurance and Licentiate in General Insurance (Non-Life) Exams conducted by Insurance Institute of India (III).
Recognition of Licentiate Certificate in Insurance issued by III
Licentiate Diploma or Certifications offered by Insurance Institute of India are recognized by the following authorities
- The Insurance Regulatory and Development Authority (IRDA)
- Insurers in India and abroad.
- Chartered Insurance Institute (CII) in U.K.
- Life Office Management Association (LOMA)
- American Institute of Chartered Property and Casualty Underwriters (CPCU)
- Insurance Institute of Canada.
About Licentiate Exam
- Licentiate is an entry level exam dealing with the fundamentals of Principles and Practice of Insurance (Life and Non-Life) and Regulations of Insurance Business.
- Licentiate Exam is offered in two streams - Licentiate in Life Insurance, Licentiate in General Insurance (Non Life).
- Licentiate in Life Insurance consist of three papers namely Principles of Insurance, Practice of Life Insurance, Regulation of Insurance Business.
- Licentiate in General Insurance exam consists of three papers namely Principles of Insurance, Practice of General Insurance, Regulation of Insurance Business.
- Principles of Insurance and Regulation of Insurance Business papers are common to both exams.
- Each paper consists of 100 Multiple Choice Questions. The duration for the exam is 2 hours. Candidates should score 60% in each subject to qualify for Licentiate. There is no Negative Mark for wrong answer.
- Benefit: Persons with Licentiate Certification can directly attend Advanced Financial Planning Exam conducted by Financial Planning Standards Board of India leading to Certified Financial Planner (CFP) Certification.
Fee Structure and Eligibility for Licentiate Exams
Registration Fees is Rs 700 for Licentiate in Insurance. Exam Fee is Rs 500 for each paper. For example for a candidate seeking to write Licentiate in Life Insurance Branch has to pay Rs 700 + Rs 500 X 3, a total of Rs 2200.
Employees of Insurance Companies, Insurance Agents, Persons who have passed SSLC and more than 18 years of age are eligible to write Licentiate Exam.