III IC-29 study guide
III IC-29 · Work through your exam, one topic at a time.
III IC-29 is an insurance industry certification exam delivered in multiple-choice format and organised around nine knowledge domains. It is aimed at candidates who need a broad, working command of insurance rather than a narrow specialism: new entrants building a foundation, agency and broker staff who advise clients across lines, claims and underwriting support staff, and compliance or operations personnel who need to understand the products they administer. The III IC-29 study guide has 9 sections and about 2,937 words.
01Insurance Principles and Concepts
Insurance Principles and Concepts is the foundation domain. It tests whether you can separate risk transfer from risk retention, apply indemnity correctly, and use the legal doctrines that decide coverage disputes.
358 words, about 2 min02Insurance Regulation and Supervision
Insurance Regulation and Supervision tests the supervisor's toolkit: licensing, prudential capital, market conduct, governance and policyholder protection. The domain asks how regulators permit entry, monitor solvency and intervene before failure harms policyholders.
315 words, about 2 min03Life Insurance Products and Features
Life Insurance Products and Features tests product mechanics: term, whole life, endowment, ULIP, annuity and riders, plus premium, cash value, surrender, loans and non-forfeiture. You must match a client need to a contract and explain what is guaranteed and what is not.
343 words, about 2 min04Health and Accident Insurance
Health and Accident Insurance tests indemnity health cover, fixed-benefit plans, personal accident, critical illness and the conditions that turn a billed amount into a payable claim. You must apply waiting periods, pre-existing disease rules, deductibles, co-pay, sublimits and exclusions.
315 words, about 2 min05Property and Casualty Insurance Fundamentals
Property and Casualty Insurance Fundamentals tests the core of property, liability, motor and marine cover: what is insured, what limits apply, how deductibles and average clauses work, and how reinsurance and salvage affect the net claim. The exam expects you to calculate indemnity, not just define it.
344 words, about 2 min06Underwriting and Risk Selection
Underwriting and Risk Selection tests how an insurer decides which risks to accept, on what terms, and at what price. You must classify risk, detect moral hazard and adverse selection, and choose standard, substandard, exclusion or decline terms.
317 words, about 2 min07Claims Handling and Settlement
Claims Handling and Settlement tests the lifecycle from notification to payment or repudiation: documentation, investigation, coverage analysis, reserving, settlement, salvage and recovery. The exam expects defensible decisions, not just fast payments.
300 words, about 2 min08Insurance Contract Law and Policy Provisions
Insurance Contract Law and Policy Provisions tests the formation and enforcement of the insurance contract: offer, acceptance, consideration, capacity, legality, good faith, warranties, conditions, and the standard policy provisions that decide disputes. Formation requires offer and acceptance, consideration (premium), capacity and lawful purpose; the policy is the evidence, not the whole contract.
334 words, about 2 min09Ethics and Professional Conduct
Ethics and Professional Conduct tests how an insurance professional resolves conflicts between client interest, employer interest and personal gain. Expect scenarios on suitability, disclosure, confidentiality, fair treatment, inducements and market conduct.
311 words, about 2 min