LicentiateIC-01 · 2024 EditionRequired paper
Principles of Insurance
Insurance Institute of India: Licentiate Examination
The foundation paper for every III exam candidate. Covers insurable interest, indemnity, subrogation, and the legal framework of insurance contracts.
✓11 chapters✓Chapter-wise practice tests✓1 full mock test (100 multiple choice questions · 2 hrs)✓Personalised study recommendations✓Subject tutor (available after purchase)
Individual module
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402verified practice questions
Across 11 chapters, every question reviewed and exam-aligned.
| Chapter | Chapter Name | Questions |
|---|---|---|
| 1 | Introduction to Insurance | 30 |
| 2 | Risk, Peril, and Hazard, Risk Classification and Rating | 30 |
| 3 | Rating and Pricing Insurance Products | 44 |
| 4 | Principles of Insurance - One | 43 |
| 5 | Principles of Insurance - Two | 36 |
| 6 | Principles of Insurance - Three | 38 |
| 7 | Legal Aspects of Insurance | 30 |
| 8 | Underwriting | 30 |
| 9 | Claims | 30 |
| 10 | Reinsurance | 50 |
| 11 | Insurance Accounts | 41 |
1 Mock Test
•100 random questions
•120 minutes
•Fresh questions every attempt
Draws from all 402 questions across every chapter, so no two attempts are the same.
Chapters in this module
1. Introduction to Insurance • 30 MCQs
2. Risk, Peril, and Hazard, Risk Classification and Rating • 30 MCQs
3. Rating and Pricing Insurance Products • 44 MCQs
4. Principles of Insurance - One • 43 MCQs
5. Principles of Insurance - Two • 36 MCQs
6. Principles of Insurance - Three • 38 MCQs
7. Legal Aspects of Insurance • 30 MCQs
8. Underwriting • 30 MCQs
9. Claims • 30 MCQs
10. Reinsurance • 50 MCQs
11. Insurance Accounts • 41 MCQs
Exam-preparation material only. InsuranceGurukul does not sell insurance or financial products.