What is IC-02?
IC-02 (Practice of Life Insurance) is a compulsory Licentiate-level examination offered by the Insurance Institute of India (III). How life insurance works in practice — products, the proposal-to-policy journey, premiums, bonuses, claims and policy servicing.
How many questions are in the IC-02 exam?
The IC-02 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-02?
You need to score at least 60% to pass IC-02. Scoring 75% or above earns a Distinction grade.
How many credit points does IC-02 carry?
IC-02 carries 20 credit points. These count toward your III certification — 60 credits for Licentiate, 250 for Associateship, 490 for Fellowship.