AssociateIC-26 · 2023 EditionRequired paper
Life Insurance: Accounts and Financial Management
Insurance Institute of India: Associate Examination
Compulsory for the Life stream Associate. Covers life insurance accounting: premium and expense accounting, investments, final accounts, financial analysis, budgeting, taxation, and AML.
✓15 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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620verified practice questions
400 practice + 220 Enhanced Practice
Across 15 chapters, every question reviewed and exam-aligned.
| Chapter | Chapter Name | Questions |
|---|---|---|
| 1 | Elementary Principles of Accounts | 26 + 20 Enhanced |
| 2 | Life Assurance Business: Important Types of Life Assurance Policies | 27 + 20 Enhanced |
| 3 | Accounting Procedure: Premium Accounting | 26 + 15 Enhanced |
| 4 | Accounting Procedure: Disbursements | 26 + 15 Enhanced |
| 5 | Accounting Procedure: Expenses of Management | 26 + 10 Enhanced |
| 6 | Investments | 26 + 12 Enhanced |
| 7 | Final Accounts: Revenue Account and Balance Sheet | 27 + 20 Enhanced |
| 8 | Budget and Budgetary Control | 27 + 12 Enhanced |
| 9 | Innovative Concepts in Financial Reporting | 27 + 12 Enhanced |
| 10 | Accounting Standards Applicable to Life Assurance Companies | 27 + 20 Enhanced |
| 11 | Financial Analysis | 27 + 15 Enhanced |
| 12 | Management Environment in India | 27 + 12 Enhanced |
| 13 | Application of Financial Management Concepts in Insurance Industry | 27 + 10 Enhanced |
| 14 | Taxation (Current Scenario) | 27 + 15 Enhanced |
| 15 | Anti-Money Laundering Guidelines and Prevention of Money Laundering Act | 27 + 12 Enhanced |
1 Mock Test
•100 random questions
•120 minutes
•Fresh questions every attempt
Draws from all 400 questions across every chapter, so no two attempts are the same.
The Advanced Mock Test draws from 220 Enhanced Practice questions.
Chapters in this module
1. Elementary Principles of Accounts • 26 MCQs + 20 Enhanced
2. Life Assurance Business: Important Types of Life Assurance Policies • 27 MCQs + 20 Enhanced
3. Accounting Procedure: Premium Accounting • 26 MCQs + 15 Enhanced
4. Accounting Procedure: Disbursements • 26 MCQs + 15 Enhanced
5. Accounting Procedure: Expenses of Management • 26 MCQs + 10 Enhanced
6. Investments • 26 MCQs + 12 Enhanced
7. Final Accounts: Revenue Account and Balance Sheet • 27 MCQs + 20 Enhanced
8. Budget and Budgetary Control • 27 MCQs + 12 Enhanced
9. Innovative Concepts in Financial Reporting • 27 MCQs + 12 Enhanced
10. Accounting Standards Applicable to Life Assurance Companies • 27 MCQs + 20 Enhanced
11. Financial Analysis • 27 MCQs + 15 Enhanced
12. Management Environment in India • 27 MCQs + 12 Enhanced
13. Application of Financial Management Concepts in Insurance Industry • 27 MCQs + 10 Enhanced
14. Taxation (Current Scenario) • 27 MCQs + 15 Enhanced
15. Anti-Money Laundering Guidelines and Prevention of Money Laundering Act • 27 MCQs + 12 Enhanced
Exam-preparation material only. InsuranceGurukul does not sell insurance or financial products.