What is IRDA Exam?
The INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY EXAM, in short the IRDA exam is a test that is conducted with the purpose of recruiting insurance agents for various insurance companies. The test is held basically to meet the requirements of these insurance companies and it is organised by the insurance institute of India. Most of the insurance agents are appointed by going through the procedure of taking this exam. It is not an easy exam as it is held once a year on an all India basis. The primary purpose of selecting insurance agents through an entrance test is to take better care of insurance policy holders and provide them a safer treatment. IRDA exam is conducted in two modes. Candidates can select Offline or Online mode. The examination questions will mainly cover from the subjects of insurance and loans. It also covers regulations and their general application. The candidates who wish to attend IRDA examination should need a well preparation, determination and concentration counts a lot.
Eligibility for IRDA Exam
Those Candidates willing to appear for the exam has to be a 12th standard pass out. The minimum age limit of the candidate should be within 21 years and he has to attend practical sessions of one hundred and fifty hours if he wants to be qualified. This practical session of one hundred and fifty hours from any approved insurance institute is one of the criteria that a candidate has to follow.
How to apply for IRDA Exam
a candidate has to fill up an application form for IRDA license worth Rs 250/-. This application has to be submitted at least thirty days before the end of its validity. If one fails to do so, he has to pay an extra charge of Rs 100/-. Now as you know the eligibility and other criteria of this exam, the next thing that comes to your mind is the syllabus. Well, this exam covers a huge syllabus which is divided into two parts- general insurance and life insurance. General insurance covers introduction to insurance, Principles of General Insurance, Insurance Documents, Theory and Practice of Rating, Legislative and Regulatory Matters, Fire Insurance, Marine Insurance, Motor Insurance, Personal Accident Insurance, Health Insurance etc. life insurance covers its fundamentals, legislative and regulatory matters. It also considers the candidate’s personal development and behavioral aspects. The mode of this exam is primarily in objectives conducted for 100 marks and the duration is for two hours. A candidate has to secure at least 50 % marks in order to qualify the exam.