Credit points are the currency of the III qualification system. Every paper you pass earns you a fixed number of credit points — and your total credit points determine which certification you hold. Understanding this system before you register for your first exam saves you from wasted attempts and unnecessary re-sits.
Key principle
You do not need to pass every paper — you need to reach a credit point threshold. This gives you flexibility to choose papers that suit your stream, schedule, and strengths.
The three certification levels
The Insurance Institute of India offers three main certifications — Licentiate (60 credit points), Associateship (250 credit points total), and Fellowship (490 credit points total). Each level builds on the previous one.
| Certification | Credit Points | Key requirement |
|---|---|---|
| Licentiate | 60 CPs | IC-01 compulsory for all |
| Associateship (AIII) | 250 CPs total | 2 compulsory stream papers |
| Fellowship (FIII) | 490 CPs total | 1 actuarial paper compulsory |
How to choose your elective papers
Once you have completed your compulsory papers, you choose electives from Table 1 — a pool of 23 papers with credit point values ranging from 20 to 40. Papers worth 40 credit points (IC-85, IC-86, IC-89) are the most credit-efficient choices if you want to reach your target faster.
Practical tip
IC-86 Risk Management (40 credit points) is one of the most popular electives on InsuranceGurukul. It has a large question bank and covers concepts relevant to most insurance roles.
Practice with our III question banks
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Use the Know Your CPs tool
InsuranceGurukul has a built-in Know Your CPs tool that calculates your current total and recommends which papers to take next based on your stream and target certification. You can access it from your dashboard once you are registered.
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