I am providing you the syllabus of Insurance Regulatory and Development Authority IRDA Assistant Manager Exam

IRDA Assistant Manager Exam syllabus

Phase – I Preliminary Examination

The Exam will be Online Written Type.

The Time Duration for the Exam will be 90 Minutes.

Name of Tests (Objective) No. of Questions/ Maximum Marks
Reasoning 40
English Language 40
General Awareness 40
Quantitative Aptitude 40
Total 160

There will be negative marks of 1/4 Marks for wrong answers in the Objective Tests

Phase – II

The Exam Will be Descriptive (Question Papers Displayed on computer and to be Written Using Pen and Paper) Type.

It will consist of three papers and There will be 60 Minutes for Each Paper

Paper No. Name of Paper Maximum Marks
I English 100
II Economic and Social Issues impacting Insurance 100
III Insurance and Management 100

Phase – I Preliminary Examination

Reasoning : Analogies, Similarities, Differences, Space visualization, Problem solving, Analysis and Judgment, Decision-making, Visual memory, Discrimination, Observation, relationship, Concepts, Arithmetical reasoning, Verbal and figure classification, Arithmetical number series, Abilities to deal with abstract ideas and symbols and their relationships.

English Language : English grammar, Vocabulary, Spellings, Synonyms and Antonyms, Comprehension, Correct and incorrect usages, etc.

General Awareness : Questions are designed to test the candidate‟s general awareness of the environment around him and its application to society. Questions are also designed to test knowledge of current events and of such matters of everyday observation and experience in their scientific aspect as may be expected of an educated person. The test will also include questions relating to India and its neighboring countries especially pertaining to History, Culture, Geography, Economic Scene, General policy and scientific research.

Quantitative Aptitude : The questions will be designed to test the ability of appropriate use of numbers and number sense of the candidate. The scope of the test will be computation of whole numbers, decimals, fractions and relationships between numbers, Percentage, Ratio & Proportion, Square roots, Averages, interest, Profit and Loss, Discount, Partnership Business, Mixture and Alligation, Time and Distance , Time & Work, Basic algebraic identities of School Algebra & Elementary Surds.

Phase – II

Paper I – English

Essay;
Precis writing;
Comprehension and Business/Office Correspondence.

Paper II – Economic and Social Issues impacting Insurance

Economic Growth, business cycles and Insurance penetration, impact of age structure on economy, application of utility theory to Insurance premium setting, macroeconomic factors including catastrophes and pandemics that may impact insurers and insurance markets;

Financial markets, Financial Institutions and financial services integration and risks arising from interconnections; systemic risk and concentration risk;

Economic capital and risk based capital requirements, economic impact of risk transfer arrangements including reinsurance, contribution of Insurance sector to sustainable and responsible development of economy, Insurance Investments in Infrastructure sector

Economic reforms in India leading to Insurance sector reforms, Insurance regulation – financial and market conduct regulations, functions of IRDAI, role of an Actuary, de-tariffing in India, motor business and Indian experience, changing Insurance Regulations/Laws and FSLRC.

Social structure in India, Insurance in rural and social sectors and obligations of Insurers thereto, Indian Micro-Insurance experience, Social security laws and implementation thereof. RSBY – Health insurance scheme for Below Poverty Line (BPL) families.
Paper III – Insurance and Management

Part 1 – Insurance

History of Indian Insurance, principles of Insurance;

Risk and uncertainty, pooling and diversification of risk, Indemnity and Insurable interest;

Legal foundations of Insurance, basics in Group/Health Insurance/Pensions; Intermediation: role in mobilising savings, evolution of various types and Bancassurance in India;

Functions performed by Insurers: Product design, pricing, distribution, underwriting, claims, Investment and Reinsurance;

Insurance lines and products : Property-Liability, Life Insurance and Annuities and Health Insurance; Liability risks and Insurance, valuation and Solvency requirements, Specialist Insurance lines in India – Agricultural and Export Credit Guarantee; Reinsurance, GIC of India, obligator sessions and retention of risk within the Country.

Part 2 – Management

Its nature and scope;

Management Processes – Planning, Organization, Staffing, Directing and Controlling; role of a Manager in an Organization;

Leadership: The tasks of a leader; leadership styles; leadership theories; A successful leader versus an effective leader;

Human Resource Development- Concept of HRD; Goals of HRD; Career Planning – Training and Development;

Performance Appraisal – Potential appraisal and development – feedback and performance counselling – rewards – employee welfare;

Motivation, Morale and Incentives: Theories of Motivation; How Managers Motivate; Concept of Morale; Factors determining morale; Role of Incentives in Building up Morale;

Communication: Steps in the Communication Process; Communication Channels; Oral versus Written Communication; Verbal versus non-verbal Communication; upward, downward and lateral communication; Barriers to Communication;

Role of Information Technology;

Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate Governance.