Insurance Module (Intermediate)

The Insurance Module (Intermediate) offered by NSE is one of the most important exams. In the era of fast-moving and globalized financial markets, there is a great demand for qualified individuals who possess requisite skills and good knowledge in insurance. Out of all the economic functions, Insurance serves as a valuable part of the economy which is largely distinct from others. The insurance market has witnessed drastic changes including the presence of a fairly large number of insurers both in the life and non-life segment. Moreover, the insurance market is a better option for candidates that are looking up their career in the corporate world.

Exam Details

This is an online and self-study basis exam which is conducted all across India. The number questions asked in the exam are 60 that are need to completed in a duration of 2 hours. The question paper consists of objective type questions only. Candidates need to score 60% marks to qualify the exam and the maximum marks for the test is 100. Please note that there is 0.25% negative marking for incorrect answer. Also, all types of calculators are allowed during the test. Open office spreadsheet will be provided. Moreover, for every question, you will find four / five alternative answers. To select your answer, click on the radio button next to the alternative. If you qualify the exam then you are provided with a certificate which is valid for next 5 years from the date of the test. The course total fee is Rs. 2006 (including GST) only.

Eligibility Criteria

There is no eligibility criteria for this exam.

Learning Objectives

The Insurance Module (Intermediate) consists of numerous learning objectives:

• Concept of Insurance
• Types of Insurance
• Fundamentals of risk management
• Insurance contracts
• Insurance principles

Target Audience

• Students of Management and Commerce
• Finance Professionals
• Employees with banks and financial institutions
• Distributors / Agents
• Anybody having interest in this subject

Schedule your Exam

Before taking the Insurance module, here are some registration tips that you should follow:

• Candidates can register online by accessing the link ‘Online Registration’ available under Education>Certifications>Online Register / Enroll.
• Once registered, you will get a unique NCFM registration number along with a user id and password. Confirmation will be sent to the email id and mobile number entered during registration.
• If you don’t have your NCFM registration number you first need to register yourself with NCFM.
• Using the same, you can access your online NCFM account to make payment / enroll for test / update address / check study material status / view certificates etc.
• Candidates are required to ensure that their latest address is updated in their online NCFM profile. To update address candidates need to access the link ‘Edit Profile’ available in their NCFM online login.
• Moreover, NCFM registration number is unique and a candidate has to use the same NCFM registration number while enrolling for any module.

Insurance Module (Intermediate) interview questions

Online Payment Procedure

• Candidates can make payment online by accessing their online NCFM login through the login page available under Education>Certifications>Online Register / Enroll.
• Candidates need to enroll for the NCFM test within 90 days from the date of receipt of payment failing which he/she is required to enroll himself/herself again by paying the fees afresh at the prevailing fee structure.
• Fees once paid shall not be refunded.
• In case of any payment related queries, please write to email ID: [email protected].
• Moreover, NSE Academy has introduced its payment gateway page for online payments. This new payment gateway is implemented on 17 Jan 2017:
  • Visa/Master Credit Card
  • 50+ Banks for Net banking
  • 10+ Wallets & Cash card
  • IMPS
  • EMI option for Credit Card of selected Banks

Before taking the test

• Firstly, Candidates can enroll for the test center, module, date and time as per their requirement by accessing the link ‘Enrollment / Book your seat’ in their NCFM online login.
• Secondly, Hall ticket can be printed by accessing the link ‘Query / Report’ in the candidate’s individual NCFM online login.
• Thirdly, Candidates will receive an intimation regarding the same on their mobile number and email id registered with us.
• Lastly, Please note that payment and photo upload are necessary for enrollment. Once enrolled, test cannot be rescheduled.

Taking the Test

• Candidates need to be present at the test center 30 minutes prior to the test time. If you reach the test center 30 minutes after their scheduled test time would not be allowed to take the test.
• One need to carry an original Photo ID proof of verification. Valid photo ID proof include PAN card, Driver’s License, Passport, Employee ID, Voter’s ID card or Student ID card issued by college or school.
• On arrival at the designated test center on the test date, the NSE Academy test administrator would verify the identity of the candidate and then grant him access to the test terminal.
• In case the candidate is not present at the venue at the given test time for any reason. The test paper of the candidate would be marked absent. In such cases, the candidate would need to seek fresh enrollment.
• The candidate may bring a scientific calculator and a pen to the test venue. A backup sheet and rough sheets would be provided to the candidates for carrying out their workings during the test.
• Moreover, any candidate found using any unfair means including use of mobile phone or in possession of any unfair material during the test will be expelled from the test venue and his test would be cancelled.

For More visit Insurance Module (Intermediate) FAQs

NSE Insurance Module (Intermediate) Exam Outline

The Insurance Module (Intermediate) provides its course outline as:

• Introduction to Insurance
  • Definition of Insurance
  • Concept of Insurance / How insurance works
  • Insurance Act, 1938
  • Insurance Regulatory and Development Authority (IRDA)
  • Protection of Policy Holders Interest Regulations, 2002
  • Insurance Advertisements and Disclosures Regulations, 2000
  • Third Party Administrators (TPA)
• Fundamentals of Risk Management
  • Definition of Risk
  • Classification of Risks
  • Definition of Risk Management
  • Stages of Risk Management
• Insurance Contract, Terminology, Elements and Principles
  • Contract Terminology
  • Elements of a Valid Contract
  • Distinguishing Characteristics of Insurance Contracts
  • Common clauses and sections in an insurance contract
• General Insurance
  • Life Insurance & Non-Life Insurance
  • Non-Life Insurance classification
  • Types of Property Insurance
  • Contractor’s All Risks (CAR) Insurance
  • Marine cargo insurance
  • Features of motor insurance
  • Burglary insurance
  • Money insurance
• Personal and Liability Insurance
  • Personal Insurance
  • Mediclaim Policies
  • Group Mediclaim policy
  • Personal Accident Insurance (PA)
  • Liability Insurance
  • Employers Liability Insurance
  • Public Liability Insurance
  • Professional Indemnity Insurance
  • Product Liability Insurance
• Financial Planning and Life Insurance
  • Financial Planning
  • Ratios as a tool for financial analysis
  • Definition of Life Insurance
  • Law of large numbers
  • Principles of Insurance and Life Insurance
• Types of Life Insurance Policies
  • Term Insurance
  • Types of Term Life Insurance
  • Whole Life Insurance
  • Endowment policy
  • Children’s policies
  • Annuities
  • Group Insurance
  • Industrial Life Assurance
  • Life insurance premium and tax benefits
• Insurance Intermediaries
  • Introduction
  • Individual agent
  • Corporate agent
  • Code of Conduct
  • Broking regulations
  • Indian Insurance Market

Insurance Module (Intermediate) Study Guide

The Insurance Module (Intermediate) exam requires a lot of dedication and hard work combined with right set of resources to ace the exam. There are numerous resources available online but we need to figure out the ones that are beneficial for us. This will help in managing your time and you can devote more time to practice tests and revision. Let us look some handful resources that will help you in passing the exam with flying colors.

Getting familiar with Course Outline

The main Objectives of the Insurance Module (Intermediate) exam are as follow:

• Introduction to Insurance
• Fundamentals of Risk Management
• Insurance Contract, Terminology, Elements and Principles
• General Insurance
• Personal and Liability Insurance
• Financial Planning and Life Insurance
• Types of Life Insurance Policies
• Insurance Intermediaries

Study Resources

The NSE highly recommend its candidates to a training program for an exam like the Financial Services Foundation exam. Moreover, its a candidates choice to join a training or prepare by self-study. IMS provides its candidates with:

• Classroom Program: This is available in all metro cities. It provides 12 weeks of classroom training with 100 hours Audio Video presentation on building models and also include weekend classes. Moreover, Study material- books and online material is also available
• Distance Learning Program: Study Material will be provided online & offline. At the end to the course the candidates will have to appear for the certification exam. The examination comprises of multiple choice questions.
• Live Virtual Classes: Live and interactive training program at CISCO platform. Get recorded lectures for future reference and clear all your doubts face-to-face with experts. Moreover, you also get the benefit of weekend classes all across India.
• NSE Workbook: Candidates can issue modules after making payment for the module. After that you can download the study material after logging into your account from E-Library option.
• Model Tests by NSE: In order to familiarize yourself about the pattern of question paper, you may attempt model test papers provided by NSE.

Join Online Study Groups

Joining online study groups is the most appropriate way to improve your examination skills and understanding things in a better way. Since, study groups provides you with a platform to discuss and clear your doubts in the best possible way with the help of professionals. Moreover, joining study groups helps in keeping you updated with any recent modifications or any changes in the examination.

Take Practice tests

While preparing for any examination the most important step is to take Insurance Module (Intermediate) practice tests. These tests do not only help you to check your preparation level, build your confidence and time management but also help you to get familiar with different types of questions that are frequently asked in the examination. Moreover, the Insurance Module (Intermediate) practice test consists of questions from basic to advanced level in a systematic manner.