What is IC-28?
IC-28 (Foundation of Actuarial Science) is a compulsory Fellowship-level examination offered by the Insurance Institute of India (III). Foundations of actuarial science — probability, statistics, financial mathematics and their application to insurance.
How many questions are in the IC-28 exam?
The IC-28 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-28?
You need to score at least 60% to pass IC-28. Scoring 75% or above earns a Distinction grade.
How many credit points does IC-28 carry?
IC-28 carries 40 credit points. These count toward your III certification — 60 credits for Licentiate, 250 for Associateship, 490 for Fellowship.