Finance and Investment
Insurance Institute of India: Fellowship Examination
One of eight actuarial papers for Fellowship. Covers investment principles and financial markets from an actuarial perspective.
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AS-05(iv) exam at a glance
| Level | Fellowship |
|---|---|
| Credit points | 40 |
| Exam | 2 hours, online, multiple choice |
| Pass mark | 60% (75% for distinction) |
Across 8 chapters, every question reviewed and exam-aligned.
Tap a chapter to see what it covers.
1Risk and Return45 questions45
Risk and return: investment risk types, measuring return and risk, diversification, efficient frontier and CAPM.
2Capital Market45 questions45
Capital markets: financial market types, IPOs and book building, stock exchange trading, and share valuation.
3Derivative on Share and Index45 questions45
Derivatives on shares and indices: forwards, futures, options, margins, and binomial and Black-Scholes option pricing.
4Fixed Interest Instrument45 questions45
Fixed income instruments: bond valuation, yields, duration, credit ratings and post office small savings schemes.
5Mutual Fund45 questions45
Mutual funds: how they work, fund types, NAV, key parties involved, taxation and SEBI investment rules.
6Real Estate and Other Investment45 questions45
Real estate and other investments: property and capital gains tax, insurance policies, annuities and gold.
7Assets Allocation45 questions45
Asset allocation: dividing a portfolio across asset classes, rebalancing, and strategic, tactical, dynamic and core-satellite strategies.
8Forms of Business Ownership45 questions45
Forms of business ownership: sole proprietorship, partnership, LLP, companies, co-operatives, societies, trusts and exempt organisations.
Draws from all 360 questions across every chapter, so no two attempts are the same.
AS-05(iv): frequently asked questions
What does AS-05(iv) cover?
AS-05(iv) covers finance and investment: risk and return, capital markets, share and index derivatives, fixed income instruments, mutual funds, real estate and other investments, asset allocation and business ownership forms.
Which exam level is AS-05(iv) for?
Fellowship. AS-05(iv) is worth 40 credit points.
What is the pass mark for AS-05(iv)?
60%. A score of 75% or more is a pass with distinction.
How long is the AS-05(iv) exam?
2 hours. It is an online exam with multiple choice questions.
When will I know my result?
You see your score right after the online exam. The formal result usually follows within about a month.
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