III IC-24 study plan
III IC-24 · Give each week a clear focus.
8 weeks · About 6 hours per week
Insurance Institute of India professional examination subject IC-24
Map the IC-24 syllabus into a one-page topic tree, grouping every listed topic under its parent heading so nothing is left unmapped
Define the core insurance vocabulary that recurs across the syllabus (risk, peril, hazard, insurable interest, indemnity, subrogation, contribution, utmost good faith) and write a one-sentence definition of each in your own words
Explain the difference between pure and speculative risk, and classify ten everyday examples into the correct category with a written justification for each
Draw the risk management process as a five-step flow and annotate each step with one concrete insurance-industry example
Your checkpoint
A one-page syllabus topic tree plus a 15-term glossary with self-written definitions and a 10-example risk classification table
Insurance Institute of India professional examination subject IC-24
Distinguish the principles of insurance (insurable interest, indemnity, subrogation, contribution, proximate cause, utmost good faith) and state for each which line of business it matters most in
Work through five short numerical indemnity problems (underinsurance, average clause, salvage deduction) and show each calculation step by step
Compare the main distribution channels and intermediary roles in the Indian market and note who is authorised to do what
Summarise the regulatory framework governing insurance in India at a level of detail sufficient to answer a short-note question
Your checkpoint
A two-page principles summary with five fully worked indemnity calculations and a one-page note on the Indian regulatory framework
Insurance Institute of India professional examination subject IC-24
Trace the lifecycle of an insurance contract from proposal through underwriting, policy issue, endorsement, renewal, and claim, listing the document produced at each stage
Identify the standard contents of a policy schedule and a policy wording, and explain why each clause type exists
Explain the legal effect of misrepresentation, non-disclosure, and breach of a warranty or condition, with one illustrative scenario for each
Draft a checklist of ten questions an underwriter would ask before accepting a commercial fire risk
Your checkpoint
A contract lifecycle diagram with associated documents plus a 10-question underwriting checklist for a commercial fire risk
Insurance Institute of India professional examination subject IC-24
Consolidate the first half of the syllabus by re-reading your own notes and rewriting any topic you cannot explain aloud without referring to them
Complete 60 mixed practice questions under timed conditions and log every wrong answer with the reason it was wrong
Group your logged errors by root cause (knowledge gap, misread question, calculation slip, terminology confusion) and quantify each category
Produce a ranked list of your five weakest topics going into the second half of the plan
Your checkpoint
An error log from 60 timed questions with root-cause classification and a ranked top-five weak-topic list
Insurance Institute of India professional examination subject IC-24
Rewrite each of your five weakest topics from week 4 into a fresh one-page explainer without looking at the original notes, then check it against the source material
Build a comparison table across the main product lines covered in the syllabus (life, health, motor, fire/property, marine, liability) showing what each covers, typical exclusions, and key rating factors
Explain the role of reinsurance and co-insurance in spreading risk, and show with a worked example how a claim is shared between insurer and reinsurer
Answer three past-style long-form questions in full sentences within the time you would have in the exam
Your checkpoint
A product-line comparison table, a worked reinsurance claim-sharing example, and three timed long-form answers
Insurance Institute of India professional examination subject IC-24
Walk through the claims process end to end for both a simple and a disputed claim, noting the documents required and the points where the insurer can decline or reduce payment
Explain how claims handling interacts with the principles of indemnity, subrogation, and contribution using one concrete scenario per principle
Identify the consumer-protection and grievance-redressal mechanisms relevant to policyholders and describe the escalation path available to a policyholder
List the ethical and fraud-related red flags an insurer should look for during claims assessment
Your checkpoint
A claims process flowchart for two claim types plus a one-page note on grievance redressal and fraud red flags
Insurance Institute of India professional examination subject IC-24
Complete a full-length timed mock examination under exam conditions with no notes and no interruptions
Mark the mock against the answer key and compute your score both overall and by topic area
Re-teach your three lowest-scoring topic areas by writing a short explainer for each as if teaching a colleague
Reduce your one-page topic tree to a single-page revision sheet containing only facts, figures, and definitions you keep getting wrong
Your checkpoint
A scored full-length mock with a topic-by-topic breakdown and a one-page final revision sheet
Insurance Institute of India professional examination subject IC-24
Review the revision sheet and error log daily, retiring each item once you can state it correctly three times in a row
Complete two half-length timed question sets to rebuild speed and confirm retention after the mock
Rehearse the exam-day routine: question order, time per mark, when to skip and return, and how to structure a long-form answer
Confirm your administrative readiness (registration status, exam centre logistics, permitted materials) so exam day has no surprises
Your checkpoint
A cleared error log with every item retired, results from two timed question sets, and a written exam-day timing plan
Milestones
Week 2: You can state all six principles of insurance and correctly apply each to a scenario without notes, and you have five worked indemnity calculations with correct final figures
Week 4: You have scored at least 60% on 60 timed mixed questions and your error log shows a named root cause for every wrong answer
Week 6: You can describe the full claims process for a simple and a disputed claim from memory, and you have completed the product-line comparison table across all major lines
Week 7: Your full-length timed mock is scored by topic area and you have identified the three topics to re-teach in the final week
Week 8: Every item on the revision sheet and error log has been retired, and you have a written exam-day timing plan you have already rehearsed once