Asset Management
Insurance Institute of India: Associate Examination
Covers asset and asset-liability management for insurers; investment alternatives; security market, fundamental, company and technical analysis; IRDAI investment and solvency regulations and SEBI/securities laws; bond valuation and interest-rate risk; time value of money; portfolio theory, modern portfolio theory and CAPM; portfolio management and equity investments; mutual funds; bonds and derivatives; the forex market; FDI/FII and international investment; and applied case studies.
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IC-99 exam at a glance
| Level | Optional paper for Licentiate, Associateship or Fellowship |
|---|---|
| Credit points | 30 |
| Exam | 2 hours, online, multiple choice |
| Pass mark | 60% (75% for distinction) |
Across 19 chapters, every question reviewed and exam-aligned.
Tap a chapter to see what it covers.
1Asset Management - Meaning, Scope and Objectives24 questions24
Asset management: meaning, role and objectives in insurance, and the professional asset manager.
2Asset Liability Management - Meaning, Scope and Objectives24 questions24
Asset liability management: why insurers need it, its objectives and scope, and regulatory guidance.
3Investment Alternatives24 questions24
Investment alternatives: debt, equity, mutual funds, derivatives and other assets, judged on return, safety and liquidity.
4Security Market Analysis and Investment Decisions24 questions24
Security markets: financial system structure, money and capital markets, indices, intermediaries and investment decisions.
5Fundamental Analysis and Asset Management24 questions24
Fundamental analysis: the economy, industry and company framework, economic indicators and industry analysis tools.
6Company Analysis24 questions24
Company analysis: financial statements, key ratios like EPS, P/E and ROE, earnings quality and intrinsic value.
7Technical Analysis24 questions24
Technical analysis: Dow theory, trends, support and resistance, chart patterns, moving averages and indicators.
8IRDAI Investment and Solvency Regulations24 questions24
IRDAI investment and solvency rules: investment categories, exposure limits, approved investments and solvency margin.
9SEBI Regulations and Related Security Laws24 questions24
SEBI and securities laws: SEBI's role, listing and disclosure rules, insider trading and investor protection.
10Bond Valuation and Bond Risk Analysis24 questions24
Bond valuation: bond pricing, current yield, yield to maturity, duration and interest rate risk.
11Time Value of Money24 questions24
Time value of money: present and future value, compounding, discounting, annuities, perpetuities and effective rates.
12Portfolio Theory and Risk Analysis24 questions24
Portfolio theory: expected return and risk, variance, covariance, correlation and diversification.
13Modern Portfolio Theory and Optimization of Returns24 questions24
Modern portfolio theory: efficient frontier, systematic risk, CAPM and beta, and Sharpe, Treynor and Jensen measures.
14Portfolio Management and Equity Investments24 questions24
Equity portfolio management: active and passive strategies, portfolio construction, rebalancing and equity valuation.
15Mutual Fund Investments24 questions24
Mutual fund investments: scheme types, NAV, loads and expense ratio, SIPs, ETFs and regulation.
16Bonds and Derivatives24 questions24
Bonds and derivatives: fixed income features, forwards, futures, options and swaps, and their use in hedging.
17Forex Market24 questions24
Forex market: quotes, spot and forward rates, cross rates, spreads, premiums and discounts, and currency risk.
18FDI, FII and International Financial Investment24 questions24
Foreign investment: FDI and FII, FEMA rules, ADRs and GDRs, and international investment avenues.
19Case Studies in Asset Management24 questions24
Case studies in asset management: asset allocation, ALM, investment choices and lessons from Indian markets.
Draws from all 456 questions across every chapter, so no two attempts are the same.
IC-99: frequently asked questions
What does IC-99 cover?
IC-99 covers investment and asset management for insurers: asset liability management, investment alternatives, fundamental and technical analysis, IRDAI and SEBI rules, bonds, portfolio theory, mutual funds, derivatives and forex.
Is IC-99 compulsory?
No. IC-99 is an optional paper worth 30 credit points. You can count it towards Licentiate, Associateship or Fellowship.
What is the pass mark for IC-99?
60%. A score of 75% or more is a pass with distinction.
How long is the IC-99 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.
Related papers
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