III IC-76 flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

III Professional Examination

A knowledge-based examination conducted by the Insurance Institute of India to test technical and professional competence in insurance subjects; it is distinct from IRDAI licensing.

IC-76 paper

A specific paper in the III Professional Examination series; candidates must consult the official III syllabus for its exact subject content, as the source does not enumerate it.

Pass mark

The minimum score required to pass an III paper, commonly 40% per paper, subject to the current examination rules published by III; verify the latest criteria before the exam.

Examination session

III examinations are generally held twice yearly, around May/June and November/December; exact dates and application deadlines are announced on the III website each session.

Marks allocation

The distribution of marks across questions in the paper; candidates should divide answering time in proportion to marks, allowing more time for higher-weight questions.

Objective questions

Multiple-choice or short-answer questions with a single correct option; they test recall and precision and are usually answered first to secure marks quickly.

Descriptive answers

Long-answer questions requiring structured explanations with headings, definitions, and examples; marks are awarded for content, structure, and correct use of insurance terminology.

IRDAI licensing

Authorisation by the Insurance Regulatory and Development Authority of India for agents and intermediaries to sell insurance; it is separate from passing an III examination.

Official syllabus

The document published by III listing the domains, topics, and weightage of a paper; it is the authoritative guide for IC-76 preparation and should be obtained from III.

Study material

III-published or approved text for a paper; candidates should use the current edition, as regulations and products change and older editions may contain outdated content.

Examination rules

The regulations governing conduct, permitted materials, timing, and malpractice in III examinations; they are binding on all candidates and are published by III.

Malpractice

Any dishonest conduct in the examination, such as using unauthorised material or communicating with others; it can lead to cancellation of the paper and debarment.

Insurance terminology

Standard technical terms such as premium, policy, sum insured, and claim; correct usage is expected in descriptive answers and demonstrates professional knowledge.

Revision plan

A schedule mapping syllabus topics to study sessions and mock tests; it should allocate more time to high-weightage domains and include periodic self-assessment.

Mock test

A practice paper written under timed conditions; it builds speed, reveals weak topics, and familiarises candidates with the question pattern and time management.

Time management

Allocating examination time across questions in proportion to marks, leaving time to review answers; poor time management is a common cause of incomplete papers.

Question paper instructions

The first page of the question paper specifying the number of questions, choice, marks, and permitted materials; candidates must read it before starting to answer.

Internal choice

An option within a section or question allowing candidates to select from alternatives; candidates should choose questions they can answer most completely within the time available.

Aggregate requirement

A rule that may require a minimum total across papers in addition to per-paper pass marks; candidates should confirm the current aggregate rule from III.

Professional qualification

A qualification awarded for passing prescribed examinations and meeting any other requirements; it signals technical knowledge but does not itself authorise insurance sales.

III membership

Enrolment with the Insurance Institute of India as a student or member; it is generally required to appear for III examinations and to receive results and certificates.

Examination centre

A designated venue where III examinations are conducted; candidates must attend the centre allotted on their admit card and carry valid identification as specified.

Admit card

The document issued to eligible candidates showing examination centre, date, time, and roll number; entry to the examination hall generally requires a valid admit card and ID.

Result declaration

The publication of examination results by III, usually on its website after the session; candidates should check the official site for the result date and procedure.

Revaluation

A process by which a candidate may request a review of marks under III rules; the scope and fees are specified in the examination regulations and are limited.

Subject content

The topics covered by a paper; for IC-76 the source does not enumerate them, so candidates must obtain the official syllabus from III before preparing.

Weightage

The proportion of marks or questions assigned to each topic in the syllabus; it guides study priorities and time allocation during revision and in the examination.

Current edition

The latest published version of study material; using it ensures coverage of recent regulatory and product changes, which older editions may not reflect.

Regulatory change

Amendments to insurance law or regulation by IRDAI or the government; candidates should check for updates because study material may lag behind current rules.

Answer structure

Organising a descriptive answer with a definition, explanation, examples, and conclusion; clear structure helps examiners award marks for content and presentation.

Key words

Terms in a question such as define, explain, compare, or list; they indicate the depth and format expected and should guide the length and structure of the answer.

Self-assessment

Evaluating one's own knowledge against the syllabus using questions and mock tests; it identifies weak areas for focused revision before the examination.