LIC ADO Mains cheat sheet

Letter positions: A=1 to Z=26; EJOTY gives E=5, J=10, O=15, T=20, Y=25; reverse position = 27 minus forward position, so A=26 and Z=1.

Syllogism conversions: 'All A are B' gives the valid inference 'Some B are A'; 'No A is B' and 'No B is A' are interchangeable; 'Some A are B' and 'Some B are A' are interchangeable; 'Some A are not B' has no valid converse.

Ranking: total people = rank from left + rank from right - 1; number between two people = difference of their ranks - 1.

Coded inequality: combine the whole statement into one chain before judging a conclusion. An either-or option is correct only when both conclusions are individually false and together form a complementary pair such as A <= B and A > B.

Clock: angle = |30H - 5.5M| degrees, where H is the hour and M the minutes; if the value exceeds 180, subtract it from 360. Hands coincide every 65 5/11 minutes and are at right angles 22 times a day.

Calendar odd days: ordinary year 1, leap year 2, 100 years 5, 200 years 3, 300 years 1, 400 years 0.

Blood relations: map each phrase to a generation before drawing a tree. 'Only son of X' fixes a single male child of X, so the person has no brothers; 'only child' removes all siblings.

Seating: in a straight row facing north, a person's left matches the reader's left; facing south it is reversed. In a circle facing the centre, left is clockwise and right is anticlockwise; reverse both when people face outward.

SI = PRT/100; CI = P[(1 + r/100)^n - 1]. Difference CI - SI = P(r/100)^2 for two years and P(r/100)^2 (3 + r/100) for three years.

Speed: 1 km/h = 5/18 m/s. Time to cross a pole = train length / speed; to cross a platform = (train length + platform length) / speed; two trains in opposite directions use the sum of lengths over the sum of speeds.

Boats: downstream speed = boat + stream, upstream = boat - stream; boat speed = (downstream + upstream)/2; stream speed = (downstream - upstream)/2.

Successive discounts a% then b% equal a + b - ab/100 as a single discount; equivalent single discount for the chain = 100 - 100(1 - a/100)(1 - b/100).

Alligation: ratio of quantities = (price of dearer - mean price) : (mean price - price of cheaper). The same rule solves mixture replacement and average-price problems.

Work: M1D1H1/W1 = M2D2H2/W2 (M men, D days, H hours, W work). If A alone takes x days and B alone takes y days, together they take xy/(x + y) days.

Sums: 1 + 2 + ... + n = n(n+1)/2; squares = n(n+1)(2n+1)/6; cubes = [n(n+1)/2]^2.

Profit and loss: SP = CP(1 + p/100); for a shopkeeper using a false weight, gain% = error / (true value - error) x 100.

Mensuration: cylinder volume = pi r^2 h; cone = (1/3) pi r^2 h; sphere = (4/3) pi r^3 with surface area 4 pi r^2; cuboid diagonal = square root of (l^2 + b^2 + h^2).

RBI began operations on 1 April 1935 under the RBI Act 1934, was nationalised in 1949 and is headquartered in Mumbai. It issues all currency except the one-rupee note and coins, which are issued by the Government of India.

Monetary Policy Committee: six members, three from RBI (Governor as chair) and three nominated by the Central Government; it sets the repo rate to keep CPI inflation at 4% with a band of plus or minus 2%, and meets at least four times a year.

IRDAI is a statutory regulator created by the IRDA Act 1999, headquartered in Hyderabad, supervising life, general and health insurers; it replaced the interim IRDA set up in 2000.

LIC was created on 1 September 1956 by nationalising 245 private insurers. It listed on the exchanges in May 2022, selling about 3.5% government stake for roughly Rs 20,557 crore, India's largest IPO, with the government retaining about 96.5%.

Social security schemes: PMJJBY offers Rs 2 lakh life cover at Rs 436 a year for ages 18-50; PMSBY offers Rs 2 lakh accidental cover at Rs 20 a year for ages 18-70; APY pays a pension of Rs 1,000 to Rs 5,000 a month after age 60.

Insurance framework: Insurance Act 1938; life nationalisation 1956; GIC and its four subsidiaries 1972; FDI cap in insurance raised to 74% in 2021, with Budget 2025 proposing 100% for insurers that invest the entire premium in India.

Regulator map: SEBI (1992, securities), NABARD (1982, agriculture and rural credit), SIDBI (1990, MSME), PFRDA (2013, pensions), IBBI (2016, insolvency), FSDC (2010, financial stability).

Banking milestones: 14 banks nationalised in 1969 and 6 in 1980; Regional Rural Banks created in 1975; a scheduled bank is one listed in the Second Schedule of the RBI Act 1934.

Core principles of insurance: insurable interest, utmost good faith, indemnity, contribution, subrogation, proximate cause and mitigation of loss.

Insurable interest must exist at the time of proposal in life insurance and at the time of loss in general insurance; indemnity, contribution and subrogation apply to general insurance and not to life policies.

Product types: term plan (pure risk cover, no maturity value), whole life, endowment (cover plus maturity), money-back (periodic survival benefits), ULIP (market-linked, NAV-based, five-year lock-in), annuity (pension).

Policy servicing numbers: free-look period of 30 days; grace period of 15 days for monthly mode and 30 days for other modes; revival allowed within five years of the first unpaid premium.

Section 41 of the Insurance Act 1938 prohibits rebating: an agent who offers part of the commission or any inducement to win business faces penalties and cancellation of licence; mis-selling and churning are unfair practices.

LIC ADO means Apprentice Development Officer: the role covers recruiting, training and activating agents, meeting business targets and servicing policies, followed by confirmation as Development Officer after the apprenticeship.

Sales process: prospecting, approach, need analysis, presentation, objection handling, closing, referral and follow-up. A sale completed without documented need analysis is a mis-selling exposure.

Cross-selling adds a different product to an existing customer (health cover to a life policyholder); upselling raises the cover or value within the same product line. Retention is cheaper than fresh acquisition, so persistency is a key agency metric.

Subject-verb agreement: each, every, either, neither, anyone, everyone and nobody take a singular verb; 'none of / some of / most of + plural noun' takes a plural verb.

Para jumbles: the opening sentence has no pronoun pointing backwards and no connector such as however, therefore or hence; a pronoun must appear after the noun it stands for.

Cloze and fillers: test collocations (commit a crime, take measures, pay attention to) and verb-preposition pairs (comprise takes no 'of'; discuss takes no 'about') before judging meaning.

Reading comprehension: every answer must be traceable to the passage; options with always, never, only, must or all are usually wrong unless the text says so, and tone questions need evidence from adjectives.

Active to passive: the object becomes the subject, the verb becomes be + past participle, and the subject moves to 'by'. Imperatives take 'Let + object + be + past participle'.

Error spotting: check parallelism after and/or/but, articles before singular countable nouns, and comparatives that take 'to' instead of 'than' (senior, junior, superior, inferior, prior, preferable).

Idioms seen in papers: bite the bullet (endure pain), at the eleventh hour (last moment), pull strings (use influence), a bone of contention (cause of dispute), turn a deaf ear (ignore).