IRDA Exam Syllabus 2022

Insurance Regulatory and Development Authority of India (IRDAI) is a statutory body formed in 1999 under an Act of the Parliament of India. IRDAI conducts a 2 phase examination for various posts from time to time. Names of the posts and syllabus for the IRDA exam are given under different headings below. IRDAI recruits candidates through open competition all over India for the following posts.

  1. Assistant Manager
  2. Manager (Grade B)
  3. Assistant General Manager (Grade C)
  4. Deputy General Manager (Grade D)
  5. General Manager (Grade E)

Insurance Regulatory and Development Authority of India (IRDAI) last conducted the examination for the post of Assistant Manager in 2017. Similarly, vacancies for the posts of Manager, Assistant General Manager, Deputy General Manager and General Manager were last notified in 2018. Any candidate who has completed his/degree from a recognised University (or its equivalent) can apply for the post of Assistant Manager. However, minimum work experience as stated in the official notification is mandatory for other posts.

All updates related to the upcoming IRDA exam syllabus will be made available on this page.

You can also refer to the pages on Insurance Exams and IRDA Mock Tests to prepare for IRDA and other insurance exams. 

IRDA Exam Syllabus for Assistant Manager Post 2022

The IRDA exam for Assistant Manager posts is conducted in three phases including an interview. Phase-1 is a screening test and candidates who clear phase 1 are eligible for Phase-2 of the IRDA examination.

IRDA Syllabus for Phase-1 Online Preliminary Exam 2022

Phase-I exam for IRDA is an online examination, which is of objective type. It comprises 4 sections namely, reasoning, English language, general awareness and quantitative aptitude. IRDA does not mention any specific topics for each section/test in its notification (dated 2017). Candidates planning to appear for the IRDA examination for the post of Assistant Manager can refer to  Insurance Exams and IRDA Mock Tests to prepare for phase-1. More details on the number of questions, time and marks are given in the table below.

 IRDA Phase-1 Exam for the Post of Assistant Manager

S. No. Name of Sections/Tests No of Questions Maximum Marks Total Time
1 Test of Reasoning 40 40 Composite time of 90 minutes
2 Test of English Language 40 40
3 Test of General Awareness 40 40
4 Test of Quantitative Aptitude 40 40
Total 160 160

 Points to Remember

  • A candidate has to clear the sectional as well as the total cut-off marks in phase-1. 
  • IRDAI may decide separate cut-offs marks for each of the specialisations and general posts. 
  • Tests will be conducted in English and Hindi (except for test of English Language).

IRDA Syllabus for Phase-2 Descriptive Examination 2022

Phase-2 of the IRDA exam for the post of Assistant Manager comprises 3 papers, namely, English, economic & social issues impacting insurance and insurance & management. All the 3 papers are of descriptive type. Questions will be displayed on the computer and candidates should answer it on paper. More details on the number of questions, time and marks are given in the table below.

IRDA Phase-2 Exam for the Post of Assistant Manager

S. No. Name of Paper Marks Time (Minutes)
1 Paper-I: English 100 60
2 Paper-II: Economic and Social Issues impacting Insurance 100 60
3 Paper-III: Insurance and Management 100 60

IRDAI has given a detailed syllabus for the phase-2 written examination.  The various topics pertaining to all the three papers are given in the table below.

IRDA Exam Syllabus for Phase-2 

Paper Subject Topics
Paper I English a)      Essay

b)      Precis writing

c)      Comprehension and Business/Office Correspondence

Paper II Economic and Social Issues impacting Insurance a)

  • 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

b)      

  • Financial markets
  • Financial institutions and financial services integration and risks arising from interconnectedness 
  • Systemic risk and concentration risk

c)      

  • 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

d)      

  • 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

e)      

  • 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

  1. History of Indian Insurance, principles of Insurance
  2. Risk and uncertainty, pooling and diversification of   risk, Indemnity and Insurable interest
  3. Legal foundations of Insurance, basics in Group/Health Insurance/Pensions, Intermediation: role in mobilising savings, evolution of various types and Bancassurance in India
  4. Functions performed by Insurers: Product design, pricing, distribution, underwriting, claims, Investment and Reinsurance
  5. 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

  1. Its nature and scope
  2. Management Processes – Planning, Organisation, Staffing, Directing and Controlling, role of a Manager in an Organisation
  3. Leadership: The tasks of a leader, leadership styles, leadership theories, A successful leader versus an effective leader
  4. Human Resource Development- Concept of HRD, Goals of HRD, Career Planning – Training and Development
  5. Performance Appraisal – Potential appraisal and development – feedback and performance counselling – rewards – employee welfare
  6. Motivation, Morale and Incentives: Theories of Motivation, How Managers Motivate, Concept of Morale Factors determining morale, Role of Incentives in Building up Morale
  7. 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
  8. Role of Information Technology
  9. Corporate Governance: Factors affecting Corporate Governance, Mechanisms of Corporate Governance

Points to Remember

  • Candidates should remember that the syllabus given in the table above is only indicative and not exhaustive
  • The questions in Papers I and II will be of foundation level, given that candidates from different subject streams apply for the posts.

IRDA Exam Syllabus for Manager, Assistant and Deputy General Manager and General Manager Posts 2022

  • For the posts of Manager, Assistant and Deputy General Manager and General Manager, candidates will be selected based on a competitive written examination  (WE) and/or interview.
  • IRDAI has not given a specific syllabus for any of these posts in its notification.
  • The decision to conduct the written examination (WE) depends on the number of applications received in each post(s) in each grade and relative vacancies in each skill stream given in the notification (dated 2018).
  • Final selection for various posts will be based on the performance of the candidates in the written examination and/or interview.
  • Candidates should also fulfil the educational and professional qualifications and other eligibility criteria including work experience before applying for the aforesaid posts.

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