IRDAI Assistant Manager Syllabus 2024: Phase Wise Exam Pattern and Comprehensive Guide
The Insurance Regulatory and Development Authority of India (IRDAI) conducts the IRDAI Assistant Manager examination to recruit qualified candidates for the position of Assistant Manager. Preparing for this competitive exam requires a thorough understanding of the syllabus and exam pattern. This article provides an in-depth look at the IRDAI Assistant Manager Syllabus 2024, covering both Phase 1 and Phase 2 exams.
IRDAI Assistant Manager Syllabus 2024 Overview
The IRDAI Assistant Manager Syllabus 2024 is crucial for candidates aiming to excel in the upcoming exam. It outlines the key topics and subjects that will be tested. Understanding the syllabus helps candidates focus their preparation on relevant areas, increasing their chances of success.
The IRDAI Assistant Manager Exam consists of a three-tier selection process: Prelims (Phase I), Mains (Phase II), and Interview. Each phase has a distinct syllabus and exam pattern, which are detailed below.
IRDAI Assistant Manager Selection Process 2024
The IRDAI Assistant Manager Recruitment involves the following stages:
- Prelims Written Exam (Phase I)
- Main Written Exam (Phase II)
- Interview
- Document Verification
- Medical Examination
IRDAI Assistant Manager Phase 1 Exam Pattern 2024
The Phase I exam, also known as the Preliminary exam, is conducted online and consists of four subjects: Reasoning Ability, English Language, General Awareness, and Quantitative Aptitude. The exam comprises 160 questions, each carrying 1 mark, and has a duration of 90 minutes. There is a negative marking of 1/4 mark for each incorrect answer.
Exam Pattern for Phase I
- Mode of Exam: Online
- Total Number of Questions: 160
- Maximum Marks: 160
- Duration: 90 minutes
- Negative Marking: 1/4 mark per incorrect answer
Subject-wise Distribution for Phase I
- General Awareness: 40 questions, 40 marks
- English Language: 40 questions, 40 marks
- Quantitative Aptitude: 40 questions, 40 marks
- Reasoning Ability: 40 questions, 40 marks
IRDAI Assistant Manager Phase II Exam Pattern 2024
The Phase II exam is descriptive and includes three papers: English, Economic and Social Issues impacting Insurance, and Insurance and Management. All three papers are held in both English and Hindi, except for the English paper. Candidates must appear for all three papers to qualify for the next stage.
Exam Pattern for Phase II
- Paper I: English (100 marks, 180 minutes)
- Paper II: Economic and Social Issues impacting Insurance (100 marks)
- Paper III: Insurance and Management (100 marks)
- Total Marks: 300
IRDAI Assistant Manager Syllabus 2024: Detailed Breakdown
Phase I Syllabus
The Phase I syllabus includes four main subjects: Reasoning Ability, Numerical Ability, English, and General Awareness.
English Language
- Reading Comprehension
- Spellings
- Vocabulary
- Word Usage
- Antonyms and Synonyms
- Error Detection
- Cloze Test
- Parajumble
Reasoning Ability
- Visual Memory
- Analogy
- Problem-Solving
- Analysis and Judgment
- Similarities and Differences
- Arithmetical Number Series
- Space Visualization
- Decision-Making
- Verbal and Figure Classification
- Arithmetical Reasoning
Quantitative Aptitude
- Number System
- Simplification & Approximation
- Number Series
- Quadratic Equation
- Ratio & Proportion
- Percentage
- Problems on Ages
- Probability
- Time & Work
- Time & Distance
- Simple Interest and Compound Interest
- Average
- Profit & Loss
- Mixtures & Allegations
- Permutation & Combination
- Data Sufficiency
- Linear Equation
- Mensuration
General Awareness
- Current Events
- Current Affairs (National & International)
- Budget and Five-Year Plans
- Abbreviations
- Awards and Honors
- Inventions and Discoveries
- National & International Organizations
- Books and Authors
- Major Financial/Economic News
- Sports
- Important Days
Phase II Syllabus
The Phase II syllabus includes descriptive papers on English, Economic and Social Issues impacting Insurance, and Insurance and Management.
Descriptive English
- Essay Writing
- Precis Writing
- Comprehension
- Business/Office Correspondence
Economic and Social Issues Impacting Insurance
- 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 impacting insurers and insurance markets
- Financial markets, institutions, and services integration
- Economic capital and risk-based capital requirements
- Economic impact of risk transfer arrangements, including reinsurance
- Insurance sector’s contribution to sustainable and responsible economic development
- Insurance Investments in the infrastructure sector
- Economic reforms in India and their impact on insurance sector reforms
- Functions of IRDAI, the role of an actuary
- De-tariffing in India, motor business, and Indian experience
- Changing insurance regulations/laws and Financial Sector Legislative Reforms Commission (FSLRC)
- Social structure in India, insurance in rural and social sectors, and obligations of insurers
- Indian micro-insurance experience
- Social security laws and their implementation
- Rashtriya Swasthya Bima Yojana (RSBY) – Health insurance scheme for Below Poverty Line (BPL) families
Insurance and Management
Part 1: Insurance
- History of Indian Insurance, principles of insurance
- Risk and uncertainty, pooling, and diversification of risk
- Indemnity and insurable interest
- Legal foundations of insurance
- Basics in Group/Health Insurance/Pensions
- Intermediation: role in mobilizing savings, evolution of various types and bancassurance in India
- Functions performed by insurers: product design, pricing, distribution, underwriting, claims, investment, and reinsurance
- Insurance lines and products: property-liability, life insurance, annuities, and health insurance
- Liability risks and insurance, valuation, and solvency requirements
- Specialist insurance lines in India – agricultural and export credit guarantee
- Reinsurance, General Insurance Corporation of India (GIC), obligatory sessions, and retention of risk within the country
Part 2: Management
- Nature and scope of management
- Management processes: planning, organization, staffing, directing, and controlling
- Role of a manager in an organization
- Leadership: tasks, styles, theories, and comparison between successful and effective leaders
- Human Resource Development (HRD): concepts, goals, career planning, training, and development
- Performance appraisal, potential appraisal, development, feedback, performance counseling, rewards, and employee welfare
- Motivation, morale, and incentives: theories of motivation, managerial strategies to motivate, morale determinants, and role of incentives
- Communication: process steps, channels, oral vs. written, verbal vs. non-verbal, upward, downward, and lateral communication, barriers
- Role of Information Technology
- Corporate governance: factors, mechanisms, and implications
Conclusion
The IRDAI Assistant Manager Syllabus 2024 is comprehensive and requires dedicated preparation. Candidates must focus on both Phase I and Phase II syllabi to perform well in the examination. Understanding the exam pattern and detailed syllabus is the first step towards a successful preparation strategy. By adhering to this guide and systematically covering each topic, candidates can increase their chances of securing the prestigious position of IRDAI Assistant Manager. Stay updated with official notifications and further details to ensure you are well-prepared for every stage of the selection process.
FAQs
Q1. What is the syllabus for IRDAI Assistant Manager 2024?
The IRDAI Assistant Manager Syllabus 2024 includes subjects like Reasoning Ability, English Language, General Awareness, and Quantitative Aptitude for Phase I, and descriptive papers on English, Economic and Social Issues impacting Insurance, and Insurance and Management for Phase II.
Q2. What is the pattern for IRDAI Assistant Manager Exam 2024?
The exam consists of three tiers: Prelims (Phase I) with objective questions, Mains (Phase II) with descriptive papers, and an Interview.
Q3. What is the selection process for IRDAI Assistant Manager 2024?
The selection process includes a Preliminary Written Exam (Phase I), Main Written Exam (Phase II), Interview, Document Verification, and Medical Examination.