Today we are discussing very interesting topic like how to pass IC-38 Exam for become Insurance Agent - # Tips # Tricks
Insurance Agent or Advisor?
Insurance Agent or Advisor is one of the person who sell the Insurance policy or provide the suggestions or Importance regarding Insurance to the customers on behalf of Insurance companies and increase the business of Insurance Companies. So Insurance companies provide some commissions on each policy sale to Agents. To become the Insurance Agent we need to pass or clear IC38 exam.
What is IC38 Exam?
The IC38 exam is one of the exam for become the Insurance Agent. In simple word if you want to become the Insurance Agent or Advisor in the Insurance Company then you need to pass or clear the IC38 exam which is held by IRDIA.
IRDAI Means?
Insurance Regulatory and Development Authority (IRDAI) is one of the body who manages all Insurance Companies in India and their growth. IRDAI also protect the interest of Policy holder and provide the justice to them.
For e.g.
RBI- Reserve Bank of India - Who manages the all banks - In short head of all banks.
Each bank follow the RBI guidelines and their terms and conditions.
Same as -
In Insurance Sector - IRDAI is head of all Insurance Companies. Each Insurance company follow the IRDAI guidelines and their terms and conditions.
IC38 Exam Pattern or Structure -
The IC38 Exam is totally MCQ pattern means multiple type of questions. Each question having 4 options as answer like A,B,C,D.
Total Questions : 50
Minimum Mark for Passing : 17 - Actual 18 but they give 1 Mark as Grace if you have 17 marks. If you have below 17 marks then you are fail.
Negative Structure : No - Means there is no Negative Marking in this exam.
You can solve all questions.
Time: 60 Minutes.
Exam Held - Online or Offline ?
IC38 - Exam is normally held online or offline. You can choose as per your convenience.
Syllabus of IC38 Exam -
There are multiple chapters are included in IC38 exam. Based on this all question paper are set.
Basically you study the below chapters :
1) Introduction to Insurance
2) Customer Service
3) Grievance redressal Mechanism
4) Legal Principles of an Insurance Contract
5) What life Insurance Involves
6) Financial Planning
7) Life Insurance Products
8) Application of Life Insurance
9) Pricing and valuation in life Insurance
10) Documentation - Proposal Stage
11) Documentation - Policy Conditions
12) Underwriting
13) Payments under a Life Insurance Policy
14) Insurance Documentation
15) Health Insurance Products
16) Health Insurance Underwriting
17) Health Insurance Claims
How to Study?
You can refer the special IC38 Book for this exam.
Simple you can download the IC38 app in your Android phone from Play tore. This app is help full to give an idea about IC38 exam.
Also you study the above chapters in details. You must be aware about all Insurance companies and their policies.
How to pass IC38 Exam # Tips #Tricks :
Sometime we are submit the form for exam but we don't have time for study due to some official work or working person. If you are student then please don't follow below tips - Please do the study - Both Hard & Smart. These tips are only for those person who are working and due to some reason they are not studied and now need to face the exam without preparation then follow the below tips. It help full for sometime.
Tips:
1) No Negative Marking - Means you need to solve all questions.
2) When you start the exam then tick one of the option like A,B,C,D for all questions without wasting time. It takes around max 5 to 10 minutes- try to complete before.
3) As per analysis or survey - Each option have same wattage. Means the chances of correction of each options like- A -25% , B-25%, C-25%,D-25%.
4) First try to solve those questions which you have right answers, at the time of first reading as per your study.
5) If one of the options having more lines compare to others then to with that option.
Might be that one is right.
6) Try to eliminate the wrong options - It helps you to find out the right option.
For those person who have 0% knowledge and going to exam -
Then only God Save you 😅. But if you follow below tricks & your luck factor is strong then may be the chances of passing the exam is good.
Tricks:
1) If you don't know any answer then go with B option. The chances to got 10 to 12 Marks.
2) If option having "None of Above" or "All of above" then go with that option.
3) If option having "True" or "False" then go with - True option.
I also created one blog for all MCQ exams please refer the below link for same.
Please do the basic study about Insurance domain and try to face the exam. Definitely you can pass the same. Hope this will help you for passing the IC38 Exam. Best of Luck.
Thanks. 🙏👍
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