What is IC-81?
IC-81 (Mathematical Basis of Life Assurance) is a compulsory Fellowship-level examination offered by the Insurance Institute of India (III). The mathematical basis of life assurance — life tables, annuities, premium and reserve calculations.
How many questions are in the IC-81 exam?
The IC-81 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-81?
You need to score at least 60% to pass IC-81. Scoring 75% or above earns a Distinction grade.
How many credit points does IC-81 carry?
IC-81 carries 40 credit points. These count toward your III certification — 60 credits for Licentiate, 250 for Associateship, 490 for Fellowship.