IC-38 General study guide
IC-38 General · Work through your exam, one topic at a time.
IC-38, formally the General Insurance Agents Licensing Examination, is the licensing test that individuals must clear before acting as insurance agents for general (non-life) insurers in India. The Insurance Institute of India (III) administers the examination and the associated online training, and its IRDAI Examinations section lists "POSP/Insurance Agents" alongside an "Insurance Agents Examination Portal" at iiiexams.org, a downloadable Training Completion Certificate (TCC) for insurance agents, a help manual for agent registration, and a dedicated page for revised IC-38 course material. III publishes separate IC-38 study material and model question banks for four candidate categories: Insurance Agent, Corporate Agent, Insurance Marketing Firm, and Web Aggregator - so confirm you are studying the track that matches your registration. The syllabus spans general insurance practice: principles and regulations, fire and marine insurance, motor, health, personal accident, liability, and rural and social sector obligations, plus agent conduct, proposal and claims handling, and IRDAI regulatory requirements. Preparation typically means completing the prescribed online training, downloading the TCC, working through the official study material and model question bank, then registering for the online examination through the agent portal or a listed service provider. III also publishes a notice on grace passing marks for the IC-38 examination. Topics on this exam: General Insurance Agents Licensing Examination (IC-38) content. The IC-38 General study guide has 1 section and about 396 words.
01IC-38 General Insurance Agents Licensing Examination - Principles, Products, Claims and Compliance
IC-38 tests the general-insurance agent's grasp of contract principles, the main general lines (fire, marine, motor, health, liability), underwriting and claims practice, and the IRDAI rules governing how a policy may be sold. Questions are applied rather than merely definitional. Every general policy rests on insurable interest, utmost good faith, indemnity, subrogation, contribution and proximate cause. Formation needs offer, acceptance, consideration and lawful object; the premium is the consideration, and Section 64VB of the Insurance Act, 1938 bars the insurer from assuming risk before premium is received.
396 words, about 2 minMore study resources for IC-38 General
- Practice questionsUnder the Insurance Act, 1938, within how many days must an insurer issue a policy document to a policyholder after acceptance of the proposal and receipt of premium?
- FlashcardsPure risk. A risk with only the possibility of loss or no loss, never gain.
- Cheat sheetRisk is uncertainty about loss; insurance transfers pure risk (only loss or no loss) from the insured to the insurer for a premium.
- Key termsInsurance. A contract in which one party collects a small, regular payment from another and promises to pay a large sum if a specified loss occurs.
- Study planMap the IC-38 syllabus into a one-page checklist that lists every unit under the single General Insurance domain, so you know exactly what the exam covers.
- Common mistakesCandidates come from a sales background or read marketing material where the agent is described as a customer champion, so they never internalise that the agent acts as a representative of the insurer for soliciting and servicing business while still owing disclosure duties to the prospect.
- Exam-day guideBring the original, unexpired ID whose name exactly matches your registration.