Q1 Can I enroll for the Institutes’ examination?
Ans Yes You Can enroll for the Licentiate examination if you have passed:
S.S.C. or any
equivalent Examination
OR
Not passed such examination but have worked in the
insurance industry for at least three years.
Any agent working in the insurance industry is eligible to enter
for the Certificate in Insurance Salesmanship examination.
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Q2
What kind of courses does institute offer?
The different kind of courses available to the candidates are:
1) Diploma course:
This course basically consists of three levels of examination viz. Licentiate
(3 subjects), Associateship (6 subjects) and Fellowship (6 subjects)
examination. Candidate has the option of choosing either Life or Non-Life
branch.
2) Certificate in Insurance Salesmanship:
This is a course designed for the insurance advisors, sales supervisor of any
Insurance company. It consists of two subjects. Candidate has the option to opt
for either Life or Non-Life branch.
3) SURVEYOR’S EXAMINATIONS:
Institute is conducting the surveyors examination, on behalf of IRDA. For
detailed information, Please see IRDA website:-
www.irdaindia.org
4) Certificate Course on Foundations of Casualty Actuarial
Science: The Insurance Institute of India has a certificate course
titled “Foundations of Casualty Actuarial Science” (General Insurance) for the
benefit of persons interested in the field of General Insurance Actuarial
Science.
5) Specialised Diploma : This is a newly introduced
Diploma and is specifically designed for those candidates who wish to acquire
qualifications in specific branch viz., Marine, Fire etc. Presently, only the
Marine specialized diploma course is available from May, 2011 examination
onwards. The specialized diploma for other branches will be available shortly.
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Q3 What is the frequency of conducting these
examinations in a year ?
Ans Licentiate, Associateship, Fellowship, C.I.S., Surveyors, Certificate
Course on Foundations of Casualty Actuarial Science and Specialised Diploma
Examinations are conducted twice a year. (i.e. in April/May and
October/November).
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Q4 Does the Diplomas awarded by the I.I.I. are recognised?
Ans Yes, all the Insurance Companies recognise the Institute's
diploma as one of the highest qualification in Insurance and they encourage
their employees to appear for the Institutes examinations.
The insurers in overseas countries also recognize the
qualifications of the Institute.
The qualifications are also recognized by the similar
institutes viz. Chartered Insurance Institute in UK, LOMA and CPCU in U.S.A.
and Insurance Institute of Canada by offering exemptions to the Associates and
Fellows of the Institute in the respective qualifications.
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Q5
How many exemptions are offered by the overseas educational institutes to the
Associates and Fellows of Insurance Institute of India ?
Ans The Chartered Insurance Institute, London grants 120 credit points to the
Associates and 210 credit points to the Fellows of Insurance Institute of India
in their ACII program consisting of 290 credits. The American Institute for
Chartered Property Casualty Underwriters, U.S.A. grants 3 exemptions in their
prestigious CPCU designations to the Fellows (Non-Life) of Insurance Institute
of India. Life Office Management Association, U.S.A. grants 3 exemptions in
their FLMI designation to the Fellows (Life) of Insurance Institute of India.
Insurance Institute of Canada grants 3 exemptions to Associates and 4
exemptions to Fellows of Insurance Institute of India in their CIP program
consisting of 10 subjects
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Q6
Does the Institute have any special tie-up with the Overseas educational
institutes regarding discount in fees etc. ?
Ans The Institute at present has a
special scheme of arrangement with the Chartered Insurance Institute, London
wherein the Associates and Fellows of the Institute are offered discounted fees
for the examinations of The Chartered Insurance Institute. For more details
please visit the following link on our website
http://www.insuranceinstituteofindia.com/InsuranceInst/Home/ASPX/IIIImportantAnnoucement.aspx
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Q7
What is the shortest possible time required to acquire the qualifications?
Ans Candidate can
qualify for Associateship diploma in one year time period and one can qualify
for Fellowship diploma within 1 ½ years time span. For specialized diploma
course candidates can qualify in six months time frame.
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Q8
Total how many subjects candidate has to pass to qualify for the "Fellowship
Diploma"?
Ans (i) Candidate has
to pass total 15 subjects (i.e. 3-Licentiate, 6-Associateship and
6-Fellowship).
(ii) For
specialized diploma there are only 5 subjects (i.e. 2 Licentiate and 3
Technical papers).
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Q9 Can
I enroll directly to the Associateship or Fellowship Examination?
Ans
(i) The Diploma course offered by the Institute is divided into three levels
and unless the candidate passes the immediate lower level examination he is not
allowed to appear for the next higher level of examination. (i.e. every
candidate has to appear and pass Licentiate examination to be eligible to
appear for Associateship examination and to be eligible to appear for
Fellowship examination candidate should pass Associateship examination.)
(ii)
For specialized Diploma, candidate can appear in all the papers in one go.
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Q10
What is the passing criteria?
Ans In respect of Papers 01, 02, 11 and 14 which are objective, candidate who obtains 60% or more marks in any one subject will be declared as having passed in that subject.
Candidate should score minimum 50 marks in individual subject for all the examinations Except Licentiate Exam.
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Q11
Is there any time limit to complete the examination?
Ans
There is no time limit to pass for Licentiate, Associateship, Fellowship,
Specialized Diploma, C.I.S., Surveyors and Actuarial Science Examination.
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Q12
Can I enroll for both the branches together for "Licentiate" examination?
Ans
Yes. The candidate has the option to enroll concurrently for both the branches
of "Licentiate Examination" by submitting the examination entry forms
separately and also paying the registration fee separately. However, candidate
needs to take every care while choosing the subjects so as to avoid any
possible clash of timetable.
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Q13
How many days before the examination date will I get my "Hall Ticket /
Admission Card"?
Ans
Admission cards will be posted by ordinary post about two weeks prior to the
commencement of the examinations. It will also be available on website during
that period in the following link.
http://www.insuranceinstituteofindia.com/InsuranceInst/AdmissionCard/ASPX/IIIPrintRegNumber.aspx
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Q14
If I do not get "Hall Ticket / Admission Card" in time then what should I do?
Ans Because of postal
delay if any candidate fails to get the hall ticket in time, he/she can
download the same from the following link in the website
http://www.insuranceinstituteofindia.com/InsuranceInst/AdmissionCard/ASPX/IIIPrintRegNumber.aspx
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Q15
How should I prepare for the examination?
Ans Basically
this is a "Self Study" course and a candidate is expected to study the course
contents in depth and also assimilate general information relevant to the
prescribed subject but as we all know that effective tuition service is
considered necessary for the examination. Hence, candidates can take the
benefit of the facility of Oral tuition service arranged by the local
associated institutes.
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Q16
When should I submit my forms for fresh registration of "Licentiate
Examination" ?
Ans
To enroll for the May examination new candidates should submit their
examination forms before 10th January and for October examination the last date
to submit the examination form is 20th June.
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Q17
Where should I submit my examination form?
Ans We have Associated
institutes operating from different parts of the country. Any candidate who
wishes to enroll for the examination should be a member of one of the
associated institute. Candidate can become member of an institute nearer to
their place of residence or work and can submit the examination form and pay
the fees through his institute. For the associated institute’s address follow
the link
given below:-
http://www.insuranceinstituteofindia.com/
http://www.InsuranceInst/AssociateInstitutes/ASPX/IIIAssociateInstList.aspx
Alternatively, candidates can register for the examination online through the
following link.
http://www.insuranceinstituteofindia.com/InsuranceInst/Admission/ASPX/IIIEnrollMsg.aspx?EXAMNAME=Licentiate%20Fresh
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Q18
What is the fee I have to pay to appear for the examination?
Ans i) At present we
charge Rs.500/- examination fees per subject and if the candidate is appearing
for the first time for examination he/she has to pay additional Rs. 700/- as
Registration fees.
ii) Overseas
candidates have to pay Rs.3000/- examination fees per subject and if the
candidate is appearing for the first time for examination he/she has to pay
additional Rs.7000/- as Registration fees.
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Q19
Is there any provision for refund of "Fees"?
Ans If you send your
application for refund of fees before the “last date for withdrawal” is over,
you are entitled for refund of 50% of examination fees paid by you. However in
case of fresh registration Registration fees and other fees is not refunded.
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Q20
Is there any option available for the "Medium" of examination?
Ans The Question
papers for CIS and Licentiate are set bilingually i.e. Hindi and English.
Candidates have the option to answer the paper either in Hindi or English.
Question papers at Associateship will be provided in Hindi and English except
Paper A-1 and Paper No.28. For Paper No.A-1 and Paper No.28, candidates have to
write answers in English only and question papers will also be set in English
only. Question Papers at Fellowship level will be provided in English only.
However the candidate at Fellowship level have the option to answer in Hindi or
English for paper no. 83,85,86,87,88,90,97, 98.But for P.No.81, 82 and 89
candidates have to answer in English only.
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Q21
Can I change the branch of examination ?
Ans In the normal
course we do not allow any change of branch once the candidate opts for the
same while submitting his entry form for the examination however before
submission of the entry form candidate should send his/her request for the
change of branch and only after obtaining prior permission from the institute
candidates can opt for the change of branch.
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Q22
Can I change the center of examination ?
Ans Yes, you can
change the examination center before the last date of changing the examination
center is over.
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