III IC-39
IC-39 Fraud Risk Management in Insurance
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Cheat sheet
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ExploreAbout this exam
IC-39 Fraud Risk Management in Insurance is one of the paper-based subjects listed by the Insurance Institute of India (III) in its Professional Examination catalogue, alongside topics such as health insurance claims management, general insurance underwriting, and marine insurance. The Institute publishes study material for IC-39 in English and sells it through its Study Material section in hard copy, e-book, and audio book formats. Candidates preparing for this paper should treat the III syllabus and the current IC-39 study material as the authoritative scope, because the Institute has announced that new and revised study course materials apply from the September 2026 Online Examination, with an earlier revision introduced from the June 2026 examination. In practical terms, the paper sits within the Institute's fraud and anti-fraud learning track, which also includes the Certified Insurance Anti-Fraud Professional (CIAFP) programme listed on the same site. Preparation should follow the Institute's own sequencing: confirm the current syllabus and material revision, obtain the matching IC-39 text, work through it topic by topic, and then use the Institute's model question banks and previous-question resources where available for the subject. Candidates must register through the III examination portal, follow the published online examination schedule and timetable, and check the Professional Examination FAQs for registration, exemption, and fee rules. Note that professional examination fees were revised with effect from 1 April 2026, and exemption applications for the December 2026 session open from 1 December 2026.
What you'll study
About III IC-39 preparation
What is the IC-39 exam?
It is a Professional Examination subject titled Fraud Risk Management in Insurance, offered by the Insurance Institute of India. The Institute lists IC-39 study material in English in its Study Material section. The public site does not publish the detailed syllabus breakdown, so confirm scope against the current IC-39 material before you plan study.
Which syllabus or study material version applies to my attempt?
The Institute has announced new and revised study course materials from the September 2026 Online Examination, after an earlier revision introduced from the June 2026 examination. If you sit in September 2026 or later, study the revised material, not an older edition. Always check the notices on the Institute home page before buying books.
Is the exam online or paper-based, and how long is it?
The Institute publishes an Online Examination Schedule and a Time Table, and its revision notices refer to the Online Examination. The public home page does not state IC-39 duration, question count, or marks. Treat those details as unconfirmed and verify them on the examination schedule or the Professional Examination FAQs before your session.
How difficult is IC-39, and what causes failures?
The Institute does not publish pass rates or a difficulty rating for IC-39, so any figure you see elsewhere is unofficial. The most common avoidable failure is studying from an outdated edition after a material revision. The second is skipping the Professional Examination FAQs and missing registration, exemption, or schedule deadlines.
Can I get an exemption from IC-39?
The Institute operates an exemption process and posts an exemption application link for each session; for the December 2026 session it becomes available from 1 December 2026. Whether IC-39 specifically qualifies for exemption depends on your other qualifications and the prevailing regulations. Check the Exemption page and the Professional Examination FAQs rather than assuming.
How much does the exam cost, and have fees changed?
The Institute states that Professional Examination fees were revised with effect from 1 April 2026, but the revised amounts are not shown in the home page text. Look up the current fee under Fees or the Professional Examination FAQs before paying. Separately, 5% GST applies to e-books from 20 March 2026, so add that to any e-book purchase.
In what order should I prepare?
First confirm the material revision that applies to your session, then obtain the matching IC-39 study material in hard copy, e-book, or audio book. Read the whole text once for scope, then revisit weak areas. Use the Institute's question banks and addenda for practice, and keep the examination schedule and FAQs open for logistics.
How do I register and check my exam date?
Registration runs through the Professional Exam section of the Institute site, using the new-candidate or already-registered-candidate route. Your date comes from the published Online Examination Schedule and Time Table for your session. Register early: the Institute sets separate windows for exemption applications, and late registration may not be accommodated.
Is IC-39 the same as the CIAFP qualification?
No. The Institute lists the Certified Insurance Anti-Fraud Professional (CIAFP) as a separate online certificate course with its own syllabus, distinct from the IC-39 Professional Examination subject. They sit in the same anti-fraud area but are different credentials. Confirm which one your employer or regulator expects before enrolling.