III IC-92

IC-92 is Actuarial Aspects of Product Development, a professional examination subject offered by the Insurance Institute of India and listed in English. It is most relevant to candidates pursuing actuarial, life-underwriting and product-development careers within the Institute's professional examination framework, rather than to agents completing the IC-38 pre-licensing route.

The Institute's public page does not state the format, number of questions, duration, marks or passing score for IC-92. Treat any specific figure you see on coaching sites as unverified. Confirm the current pattern from the IC-92 study material and the Professional Examinations regulations before you plan your revision or exam-day timing.

A fee revision for Professional Examinations applies with effect from 1st April 2026, but the IC-92 amount itself is not published on the page reviewed here. Apply through the Institute's Professional Exam new-candidate route and check the current fee schedule at the point of payment, since fees change between sessions.

The Institute has announced revised study course materials from the June 2026 online examination and new and revised materials from September 2026. Check the addendum page for IC-92 and confirm which edition your session follows. Studying an older edition risks missing revised content, and any addendum notes override the base text.

Start with the official IC-92 study text, chapter by chapter, then work the addendum. Follow with the Institute's model question bank and any past questions you can obtain, and finish with timed written practice. If actuarial mathematics is not your background, revise the underlying life-contingency and pricing concepts alongside the product-development chapters rather than after them.

Difficulty is not officially graded, so assess it yourself against the syllabus. Candidates without an actuarial or product background generally find the pricing, reserving and profitability elements the hardest, while those from a life-office background struggle more with exam technique and time allocation. Both groups benefit from written practice under timed conditions.

Typical causes are relying on outdated study material, skipping the addendum, memorising definitions without being able to apply pricing and product-design logic to a scenario, and poor time management in the exam. Confirm the current syllabus edition first, then practise applying concepts to short answer-style questions rather than reciting text.

The Institute runs online examination sessions through the year, and candidates register for a specific session. The page reviewed here does not state a retake limit or waiting period for IC-92, so check the Professional Examinations regulations and the current online examination schedule before assuming you can re-sit in the next session.

No validity period is stated for IC-92 on the source page. The Institute does operate a Continuing Professional Development programme with a credit point system, which is relevant to members maintaining credentials, but whether it applies to this subject is not confirmed here. Verify membership requirements directly with the Institute.