III IC-102 study plan

Define the core principle of indemnity and distinguish it from the doctrines of insurable interest, utmost good faith, and proximate cause, writing a one-line definition for each from memory

Classify ten given risk scenarios as pure versus speculative and as insurable versus uninsurable, stating the reason for each classification

Explain how moral hazard and adverse selection differ, and identify one underwriting or policy-design control used against each

Map the insurance lifecycle stages (proposal, underwriting, policy issue, endorsement, renewal, claim) and note which Domain 2 practice activity belongs to each stage

Distinguish the roles and duties of insurer, insured, agent/broker, and loss adjuster in a claim, listing two duties for each party

Describe the main insurance product families in the syllabus (life, health, property, liability, motor) and match each to the principle that dominates its underwriting

Apply the doctrine of subrogation and contribution to two worked numerical examples involving overlapping policies

Explain how reinsurance and coinsurance transfer or share risk, using one simple proportional example

Walk through a complete claim from notification to settlement, naming the documents and decisions required at each step

Compute gross premium, net premium, and the expense loading from a given set of inputs, and explain the difference between them

Distinguish earned versus unearned premium and written versus earned premium using three numerical scenarios

Explain the purpose of technical reserves (unearned premium reserve, outstanding claims reserve, incurred but not reported reserve) and calculate a simple unearned premium reserve

Summarise the licensing, solvency, and market-conduct obligations imposed on insurers and intermediaries in the syllabus framework

Identify the accounting treatment of acquisition costs, deferred acquisition costs, and claims incurred on a simple income statement

Reconstruct an insurer's basic income statement and balance sheet from a list of given line items and check that the balance sheet balances

State the purpose of statutory reporting versus general-purpose financial reporting and name two differences

Explain solvency margin requirements and compute a simplified solvency ratio from given available capital and required capital figures

Distinguish the main investment asset classes insurers use and match each to the liquidity and matching needs of life versus non-life liabilities

Describe how accounting standards treat investment income, unrealised gains, and asset valuation in insurer financial statements

Outline the audit and internal control expectations for an insurer, naming three controls over premium collection and claims payment

Explain the regulatory objectives behind conduct rules: fair treatment of customers, disclosure, complaints handling, and anti-money-laundering checks

Distinguish the compliance duties of an agent from those of a broker, giving two obligations unique to each

Apply the disclosure and suitability rules to two short client scenarios and identify any breach

Describe the consequences of non-compliance (sanctions, licence withdrawal, remediation) and the supervisory process that produces them

Answer 60 mixed practice questions across all four domains under timed conditions and record accuracy by domain

Re-derive from memory the premium, reserve, and solvency formulas without notes

Write out the ten weakest concepts identified from practice results and correct each with a two-sentence explanation

Re-explain three cross-domain links (for example, how a regulatory solvency rule changes an accounting reserve) aloud without notes

Re-drill the five weakest topics from week 7 until each is answered correctly twice in a row

Complete one full timed mock covering all four domains and review every incorrect answer to its root cause

Summarise the regulatory and financial-reporting frameworks on a single revision sheet from memory

Confirm exam-day logistics and rehearse the time-per-question budget against the mock result