Syllabus of various exams conducted by LIC
As discussed earlier, LIC conducts three different examinations for the entry into the LIC organization. These three examinations allow the candidates to enter into the LIC at the different levels.
The three exams which are being conducted by LIC each year are
1) IRDA Exam
2) LIC ADO Exam
3) LIC AAO Exam
In this article, we are going to discuss about the syllabus pattern of these three examinations. Beginning with the first of the exams, we have the examination of IRDA.
1) IRDA Exam:
IRDA which stands for Insurance regulatory and development authority is the training and examination program for the candidates to absorb them as LIC Agents in the organization. The syllabus of the IRDA Exam constitutes the questions related to the Insurance, loans, regulations and their general application. Some questions related to the numerical ability are also included in the examination which covers the portions like percentage, discount and loan calculation, etc. The exam pattern constitutes of the questions in the form of Right –Wrong, Yes – No, Fill in the blanks, Match the Column, and multiple choice answers.
The broad syllabus constitutes the following topics:
- Introduction to insurance and its related topics
- Insurance agency as a career, its definitions and other topics
- Principles of life assurance
- Premium and bonuses
- Life insurance product and related topics
- Underwriting, and recent trends
- Insurance documents, Policy Contracts and other subjects.
- Policy conditions
- Group insurance
- Rural and social sectors
- Organization structure
- Life insurance marketing
- Role of insurance agents
- Personal development
- Law and regulations
- Information technology
- IRDA Licensing of Insurance Agents, Regulation 2000
- IRDA Licensing of Corporate Agents Regulation 2002
- IRDA Insurance Brokers Regulation, 2002
- Bancassurance (Supplement)
2) LIC ADO Exam-
This Exam covers the questions related to the Numerical Ability, Reasoning, English, Computer and General Awareness. The reasoning and Numerical Ability covers 30 questions having the weight age of 90 marks each, while the GK and current affairs cover 30 questions having the total marks of 60. The computer knowledge has the weight age of 60 covering 30 questions. The English Language has 40 questions and contains the maximum marks of 100. Thus the total maximum mark is 400 while the number of questions is 160. However, it has been seen that there is some fluctuations in the syllabus each year, but recently the exam syllabus announced by the LIC contains the above pattern.
3) LIC AAO Exam-
The syllabus of LIC AAO Exam consists of the subjects like
- Numerical Ability,
- General Knowledge,
- Computer Knowledge and
These subjects when divided into deeper parts include all major topics.The Reasoning subject covers both the verbal and nonverbal questions while theGeneral knowledge covers the topics like Universe, Earth, Pollution, Environment, General Geography, General history, General Polity, General Economics, General Science, General Computer Science, sports and recreation.
When we talk about the marks distribution, the subjects like Numerical Ability and Reasoning carry the weight-age of 90 each while the Subjects like English carry 100 marks. The subjects like General Knowledge and Computer Knowledge carry 60 marks each. The questions in each of the subjects like Reasoning, Computer, General Knowledge, Reasoning contains 30 each while English carries 40 questions. The total questions in the whole examination are 160. The total marks allotted are 400. The exam is conducted for 2 hours and carries a negative marking system too. Every wrong answer gets the deduction of 0.25 marks, while the correct answer gives the marks of 1 each.
These are the only exams which decide the entry of the candidates into the life insurance sector and if someone got to enter into the sector, he/she have to pay attention to the syllabus mentioned above. The candidates should always focus on the consolidation of the base and gaining more concepts about the subject rather than mugging up the data. The strong base can always help to solve any sort of problems in the examinations. Understanding the concept of the question is the most important part in the solution of the question.
These three exams should be the target of the candidates and the candidates should go through the syllabus of these exams very thoroughly in order to create some strategies and plans based on which they can create some better insights over the way of the preparation of the exams.