LicentiateIC-14 · 2018 Edition
Regulations of Insurance Business
Insurance Institute of India: Licentiate Examination
The most popular Licentiate elective. Covers IRDAI regulations, the Insurance Act 1938, and the regulatory framework governing insurance in India.
✓10 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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557verified practice questions
398 practice + 159 Enhanced Practice
Across 10 chapters, every question reviewed and exam-aligned.
| Chapter | Chapter Name | Questions |
|---|---|---|
| 1 | Development of Insurance Legislation in India and Insurance Act 1938 | 33 + 12 Enhanced |
| 2 | IRDAI Functions and Insurance Councils | 33 + 15 Enhanced |
| 3 | IRDAI and its Licensing Functions | 56 + 20 Enhanced |
| 4 | Regulations on Conduct of Business I | 54 + 20 Enhanced |
| 5 | Regulations on Conduct of Business II | 55 + 20 Enhanced |
| 6 | Policy Holders Rights of Assignment, Nomination and Transfer | 35 + 15 Enhanced |
| 7 | Protection of Policyholders Interest | 33 + 20 Enhanced |
| 8 | Dispute Resolution Mechanism | 33 + 10 Enhanced |
| 9 | Financial Regulatory Aspects of Solvency Margin and Investments | 33 + 12 Enhanced |
| 10 | International Trends in Insurance Regulation | 33 + 15 Enhanced |
1 Mock Test
•100 random questions
•120 minutes
•Fresh questions every attempt
Draws from all 398 questions across every chapter, so no two attempts are the same.
The Advanced Mock Test draws from 159 Enhanced Practice questions.
Chapters in this module
1. Development of Insurance Legislation in India and Insurance Act 1938 • 33 MCQs + 12 Enhanced
2. IRDAI Functions and Insurance Councils • 33 MCQs + 15 Enhanced
3. IRDAI and its Licensing Functions • 56 MCQs + 20 Enhanced
4. Regulations on Conduct of Business I • 54 MCQs + 20 Enhanced
5. Regulations on Conduct of Business II • 55 MCQs + 20 Enhanced
6. Policy Holders Rights of Assignment, Nomination and Transfer • 35 MCQs + 15 Enhanced
7. Protection of Policyholders Interest • 33 MCQs + 20 Enhanced
8. Dispute Resolution Mechanism • 33 MCQs + 10 Enhanced
9. Financial Regulatory Aspects of Solvency Margin and Investments • 33 MCQs + 12 Enhanced
10. International Trends in Insurance Regulation • 33 MCQs + 15 Enhanced
Exam-preparation material only. InsuranceGurukul does not sell insurance or financial products.