LicentiateIC-02 · 2023 EditionRequired paper
Practice of Life Insurance
Insurance Institute of India: Licentiate Examination
Compulsory for the Life stream. Covers life insurance products, underwriting, claims, and practical aspects of life assurance business in India.
✓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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407verified practice questions
Across 11 chapters, every question reviewed and exam-aligned.
| Chapter | Chapter Name | Questions |
|---|---|---|
| 1 | Organisational Structure of a Life Insurance Company | 37 |
| 2 | Premiums and Bonuses | 37 |
| 3 | Plans of Life Insurance | 37 |
| 4 | Annuities | 37 |
| 5 | Group Insurance | 37 |
| 6 | Unit-Linked Life Insurance Products | 37 |
| 7 | Applications and Acceptance | 37 |
| 8 | Policy Document | 37 |
| 9 | Payment of Premium, Surrender, Lapsed Policy and Revival | 37 |
| 10 | Assignment, Nomination, Loan and Foreclosure Under a Policy | 37 |
| 11 | Policy Claims | 37 |
1 Mock Test
•100 random questions
•120 minutes
•Fresh questions every attempt
Draws from all 407 questions across every chapter, so no two attempts are the same.
Chapters in this module
1. Organisational Structure of a Life Insurance Company • 37 MCQs
2. Premiums and Bonuses • 37 MCQs
3. Plans of Life Insurance • 37 MCQs
4. Annuities • 37 MCQs
5. Group Insurance • 37 MCQs
6. Unit-Linked Life Insurance Products • 37 MCQs
7. Applications and Acceptance • 37 MCQs
8. Policy Document • 37 MCQs
9. Payment of Premium, Surrender, Lapsed Policy and Revival • 37 MCQs
10. Assignment, Nomination, Loan and Foreclosure Under a Policy • 37 MCQs
11. Policy Claims • 37 MCQs
Exam-preparation material only. InsuranceGurukul does not sell insurance or financial products.