FROM MAY 2012 THE CREDIT POINT SYSTEM HAS BEEN INTRODUCED
1.
2.
3.
4.
5.
The name and codes of existing subjects remain unchanged.
Each subject of study is assigned credit points as given in Annexure. The credit points are assigned, keeping in view, the level of examination and the difficulty level of the subject. The above system will allow flexibility to the candidates to choose subjects of his/her choice from the available subjects and accumulate credit points.
However, certain subjects will be compulsory i.e. if the candidate does not pass the compulsory subjects, in spite of accumulating credit points, he/she will not be granted
Licentiate certificate, Associateship and /or Fellowship membership Diploma.
Following are the minimum credit points to be accumulated by a candidate for passing the Examinations.
Licentiate Certificate
-
60 credit points
Associateship Diploma
-
250 credit points (including the credit points at
Licentiate level credit points)
Fellowship Diploma
-
490 credit points (including the credit points at
Licentiate and Associateship levels credit points)
The compulsory subjects are as given below:
At Licentiate Examination –
1.
Principles of Insurance (IC 01)
AND
2.
(a) Practice of Life Insurance (IC 02) OR (b) Practice of General Insurance (IC 11)
(i.e. two compulsory subjects at Licentiate Level)
At Associateship Examination –
In addition to above two subjects,
1.
(a) Life Insurance Underwriting (IC 22) OR (b) General Insurance Underwriting (IC 45)
AND
2.
(a) Life Insurance Finance (IC 26) OR (b) General Insurance Accounts preparation &
Regulation of Investment (IC 46)
(i.e. two compulsory subjects at Associateship Level)
At Fellowship Examination
In addition to above 4 compulsory subjects i.e. (Two at Licentiate and Two at Associateship
Level) one Actuarial Subject (i.e. any one paper from Subjects No. 28/ 47/81/84/92 is compulsory for fellowship.
Validity of Credit points:
i. The credit point validity for passed paper will remain for a period of 5 years from date of passing the paper.
ii. Candidate who have completed Associateship qualification will have permanent 250 credits point (Including exempted candidates) iii. Candidates appearing for fellowship examination have to complete within a period of
7 years from passing first paper after completing Associateship qualification. i.e. the credit point of fellowship subject will remain valid for a period of 7 years from passing the subject. iv. Subject wise credit point validity to the candidates who are exempted on the basis of their qualifications from other educational institutions, is 5 years from passing their qualifying examination.
CREDIT POINTS FOR CURRENT SUBJECTS/PAPERS
Subject Code & Title
(01) Principles of Insurance
Credit
Points
20
(02) Practice of Life Insurance
20
(11) Practice of General Insurance
20
(14) Regulation Insurance Business
20
(22) Life Assurance Underwriting
30
(23) Application of Life Assurance
(24) Legal Aspects of Life Assurance
30
30
(26) Life Assurance finance
30
(27) Health Insurance
30
(28) Foundation of Actuarial Science
40
(45) General Insurance Underwriting
30
(46) General Insurance Accounts and Regulation of Investment
(47 / A-1) Foundation of Casualty Actuarial Science Part – I
(56) Fire Insurance Claims
30
40
30
(57) Fire and Consequential Loss Insurance
30
(58) Fire Insurance Coverage’s
30
(59) Fire Insurance Rating and Underwriting
30
(66) Marine Insurance Claims
30
(67) Marine Insurance
(68) Marine Insurance Coverage’s
30
30
(69) Marine Insurance Rating and Underwriting
30
(71) Agriculture Insurance
30
(72) Motor Insurance
30
(74) Liability Insurance
30
(77) Engineering Insurance
(78) Miscellaneous Insurance
30
30
(81) Mathematical Basis of Life Assurance
40
(82) Statistics
40
(83) Group Insurance & Retirement Benefit Scheme
30
(84 / A-2) Foundation of Casualty Actuarial Science Part –II
40
(85) Reinsurance
40
(86) Risk Management
(88) Marketing and Public Relations
40
30
(89) Management Accounting
40
(90) Human Resources Management
30
(92) Actuarial Aspects of Product Development
40
(99) Asset Management
30
CREDIT POINTS AVAILABLE FOR WITHDRAWN SUBJECTS/PAPERS
Subject Code & Title
Credit
Points
(12) Insurance Business environment
20
(21) Information Technology
20
(25) Life Insurance Administration
30
(51) Specific Fire Hazards
30
(52)General Fire Hazards
30
(54) Fire Insurance Underwriting
30
(55) Consequential Loss (Fire ) Insurance
30
(61) Cargo Loss Prevention
30
(62) Commercial Geography
30
(63) Marine Clauses
30
(65) Marine Insurance Underwriting
30
(73) Personal Accident , Sickness and Miscellaneous Insurance
30
(79) Liability and Engineering Insurance
30
(87) Law and Economics
30
(97) Legal Aspects of Industrial Relations
30
(98) Advanced Information Technology
30
Credit points are not available for any other old and withdrawn subject i.e. subjects like IC 53, IC 64,
IC 75, IC 76 to the candidates who could not pass Associateship examination up till May 2012.
Candidates who have passed paper no. 10 previously at licentiate level, will not be allowed to appear paper no. 01 and similarly candidates passed earlier paper no 12 will not be allowed to appear paper no.14.
Please note that for the purpose of passing Associateship and Fellowship qualification a candidate can accumulate maximum credit points of passing the subjects of 01 or 10 , 02, 11, 12 or 14 is 80 only.
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