Phase I – On-line Preliminary Examination (Objective Type). This is a qualifying examination to be eligible for Phase II – Descriptive Examination. Through this,candidates for Actuarial, Finance, Law, IT, Research streams and Generalist stream shall be shortlisted for Phase II – Descriptive Examination as per standards to be decided by IRDAI (approximately 20 times the number of vacancies subject to availability). Marks secured in the Phase I – On-line Preliminary Examination will not count for interview or final selection.
- A candidate has to qualify in each of the four Objective Tests separately and alsoin aggregate as per the cut-off marks for each test and in aggregate to be decided by IRDAI. Separate cut-offs may also be applied for each of the specialized stream and Generalist stream.
- Tests will be conducted in English and Hindi (except Test of English Language which will be provided only in English).
- The scores of Phase I – On-line Preliminary Examination will be computed by adopting the following procedure:
i. There will be negative marks for wrong answers in the Objective Tests. 1/4th mark will be deducted for each wrong answer.
ii. Number of questions answered correctly by a candidate in each Objective Test is considered for arriving at the Corrected Score after applying penalty for wrong answers.
iii. The Corrected Scores so obtained by a candidate are made equivalent to take care of the minor difference in difficulty level, if any, in each of the Objective Tests held in different sessions to arrive at the Equated Scores *.
*Scores obtained by candidates in any test are equated to the base form by considering the distribution of scores obtained in all examinations, if the examination is conducted in more than one session.
iv. Test-wise scores and scores on total are computed with decimal points up to two
digits.
There will be four tests of objective type as under:
| | Sl No. | Name of Test (Objective) | No of Questions | Maximum Marks | TOTAL | | 1 | Test of Reasoning | 40 | 40 | Composite Time of 90 Minutes.
| | 2 | Test of English Language | 40 | 40 | | 3 | Test of General Awarness | 40 | 40 | | 4 | Test of Quantitative Aptitude | 40 | 40 | | | Total | 160 | 160 |
| PHASE – II DESCRIPTIVE EXAMINATION |
| Name of Paper | Type of Paper | Marks | Time (Minutes) | | Paper-I : English | Descriptive (Questions will appear on Screen & Answers have to be written on answer sheets)
| 100 | 60 | | Paper – II : Economic and Social Issues Impacting Insurance | 100 | 60 | | Paper – III : Insurance and Manageement | 100 | 60 |
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Candidates who have been shortlisted in Phase II – Descriptive Examination only will subsequently be called for an Interview.
(a) Candidates for Actuarial, Finance, Law, IT, Research and Generalist stream shall be shortlisted for Phase III – Interview based on the aggregate marks obtained in Papers I, II and III of Phase II – Descriptive Examination only.
(b) The minimum cut-off marks for being shortlisted for Phase III – Interview shall be decided for each stream by IRDAI. The cut-off marks for each of the streams may be same or different.
(c) Final selection shall be based on the performance and merit of the candidates in Phase II – Descriptive Examination and Phase III – Interview, taken together. |
