Insurance Institute of India conducts competitive exam for recruitment of Insurance agents its name is IRDA exam.

Eligibility:
The applicant must have cleared his class 12th from a recognized university or board.

Application form:
The exam can be given in two modes, online and offline. To fill offline application form you should Contact your nearest branch office and meet the Development Officer there. The Branch Manager will conduct an interview, then you will be sent to training at Divisional/Agency Training Centre.

Question paper:
1 Sanjeev is an insurance expert who has rich experience in determining premium levels for product, what is his profile like
an actuary
loss adjuster
risk manager
underwriter

2 The Non Government organizations(NGO) helps the insurance industry immensely in
Promotional activities
Drafting new regulations
Linking buyers and sellers
Linking third party administrators

3 Investment by foreign direct investors in to Insurance co's is restricted to
12%
25%
40%
26%

4 Which market does the Micro Insurance Concentrate on ?
People with large families
People with Low Income
Government Employees
people living in Metro cities

5 What facility do the insurer use to cover Risk beyond their Limits ?
Re Insurance
Banca assurance
NGO
RBI

6 What is the max level under which micro insurance can be done
5000
25000
50000
1 lac

7 Who is the customer of a Re insurer
High Networth Individual
Insurance Companies
Licenced Insurance Agents
Non Government Organisation

8 Insurance company transfers the insurance which cannot bear by them to
Bancassurance
Reinsurance
TPAs
Actuaries

9 A policy holder takes two insurance policy and the premium amount is identical and he gets lesser commission in one of contract the reason is likely to be
one policy has more SA
ONE POLICY has more term
one policy is a single premium
One of the policy has higher Premium

10 An agent reveals his commission received from insurance sales to X&Y .Both plans are of same duration . Why is commission of X far higher that that of Y
X has brought other limited premium product
Y has brought a single premium product
X is married
Y is Single