IRDAI Assistant Manager Syllabus 2024, Phase 1 and 2 Exam Pattern

The Insurance Regulatory and Development Authority of India (IRDAI) is responsible for recruiting eligible candidates for Assistant Manager posts. For the year 2024-25, a total of 49 vacancies are released by the authorities. To fill out these vacant posts, authorities will follow a selection procedure that involves an online examination followed by a descriptive test and interview. To pass all these exams, candidates require a thorough understanding of the IRDAI Assistant Manager Syllabus 2024 exam pattern. Understanding the subject-wise topics makes it easier for candidates to prepare for the highly competitive examination and thus score better marks.

IRDAI Assistant Manager Syllabus 2024 & Exam Pattern

Every year, a large number of candidates apply for IRDAI Assistant Manager posts. Due to this, the competition becomes high and candidates thus need to prepare well to stand out from the crowd. For easier and more effective preparation, candidates must keep the track of updated syllabus and examination scheme. This helps them get insights about the important topics that are necessary to be prepared for better results.

IRDAI Assistant Manager Selection Process 2024

The candidate’s selection for IRDAI Assistant Manager Recruitment 2024 is based on a three-phase selection procedure that involves a prelims exam followed by a mains exam and an interview round. Details for the entire selection process are given below.

• Phase I (Preliminary Exam):- The first phase of the selection process involves an online examination, also known as the preliminary exam. This exam will be conducted for a total of 160 marks including objective-type questions.
• Phase II (Mains Exam):- Shortlisted candidates after phase I will be appearing for the descriptive exam also known as the mains examination which consists of three papers for 100 marks each.
• Phase III (Interview):- After clearing phase I and II, shortlisted candidates will be moved to the interview round where knowledge and skills related to the field will be evaluated for final selection.

IRDAI Assistant Manager Exam Pattern 2024

The scheme of examination for prelims, and mains exam varies. Candidates must thoroughly understand the types of questions, total marks, duration, marking scheme, etc. This helps to strategize your exam preparation accordingly thus helping to bring more effective results.

Exam Pattern for Online Preliminary Examination

To prepare for the IRDAI Assistant Manager Phase I exam, candidates must go through its marking scheme, type and number of questions, etc. The detailed exam pattern for the online preliminary examination is shared below.

• There will be a total of 160 objective-type questions in the prelims exam.
• For every correct answer, +1 will be rewarded to candidates.
• 1/4 marks will be deducted for wrong answers in IRDAI prelims exam
• Candidates will be allotted 1 hour and 30 minutes to attempt and complete the exam.

Exam Pattern for Descriptive Mains Exam

The second phase of the IRDAI Assistant Manager recruitment process consists of is main examination. Have a look at the exam pattern for this stage from the points and table below.

• The main examination consists of 3 papers i.e. Papers 1, 2, and 3.
• Each paper will be conducted for 1 hour, and all three papers will be conducted in a single session.
• The questions in the second phase exam will be descriptive-type.

IRDAI Assistant Manager Syllabus 2024

We have discussed here the subject-wise syllabus for IRDAI Assistant Manager prelims and mains examination. This subject-wise preparation makes it easier to cover the vast syllabus making it convenient for candidates to complete their exam preparation within a limited time frame.

IRDAI Assistant Manager Syllabus for Prelims Exam

Phase 1 exam includes subjects such as reasoning, English language, general awareness, and quantitative aptitude section. Check out the subject-wise syllabus for the IRDAI Assistant Manager prelims exam.

Reasoning

Topics like visual memory, similarities, arithmetical reasoning, problem-solving, etc. are to be covered by candidates while preparing for the Reasoning section.

• Analogies
• Visual Memory
• Problem-Solving
• Analysis and Judgement
• Observation
• Concepts
• Arithmetical Number Series
• Similarities
• Space Visualization
• Decision-making
• Discrimination
• Verbal and figure classification
• Arithmetical Reasoning

English Language

Here, below we have listed some of the topics that a candidate must study to effectively prepare for English language test of IRDAI preliminary exam.

• English Grammar
• Spellings
• Vocabulary
• Correct and Incorrect Usages
• Antonyms & Synonyms
• Comprehension

General Awareness

Candidates will be asked questions based on topics like sports, current events, awards & honors, important days, books & authors, etc. for the general awareness section.

• Current Events
• Budget and Five-Year Plans
• Abbreviations
• Awards and Honors
• International and National Organizations
• Books and Authors
• Major Financial/ Economic News
• Sports
• Science – Inventions and Discoveries
• Important Days

Quantitative Aptitude

Topics such as number systems, average, profit & loss, percentage, data interpretation, etc. are to be thoroughly studied by candidates for preparing the quantitative aptitude section for the phase 1 online exam.

• Simplification
• Data Interpretation
• Surds & Indices
• Time & distance
• Mensuration – Cylinder, Cone, Sphere
• Ratio & Proportion
• Percentage
• Probability
• Problems on Ages
• Quadratic Equation
• Time & Work
• Number Systems
• Simple Interest & Compound Interest
• Average
• Profit & Loss
• Sequences & Series
• Mixtures & Allegations
• Permutation & Combination
• Number Series
• Linear Equation

IRDAI Assistant Manager Syllabus for Mains Exam

The main examination for IRDAI Assistant Manager posts consists of questions based on economic and social issues impacting insurance, and insurance & management. So, we have discussed here the topic-wise syllabus for both these subjects.

Economic & Social Issues Impacting Insurance

Check out the list of topics that candidates must prepare for this subject. Make sure to cover all the topics listed here to score better marks in IRDAI Assistant Manager Mains Exam 2024.

• Economic Growth, business cycles, and Insurance penetration, the impact of age structure on the economy, application of utility theory to Insurance premium setting, macroeconomic factors including catastrophes and pandemics that may impact insurers and insurance markets
• Financial markets, Financial Institutions, and financial services integration and risks arising from interconnectedness; systemic risk and concentration risk
• Economic capital and risk-based capital requirements, the economic impact of risk transfer arrangements including reinsurance, the contribution of the Insurance sector to the sustainable and responsible development of the economy, Insurance Investments in the Infrastructure sector
• Economic reforms in India leading to Insurance sector reforms, Insurance regulation – financial and market conduct regulations, functions of IRDAI, the role of an Actuary, detariffing in India, motor business and Indian experience, changing Insurance Regulations/Laws and FSLRC.
• 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.

Insurance & Management

Candidates must cover topics like principles of insurance, legal foundations of insurance, nature & scope of management, process of management, etc. for insurance & management section.

• 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 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.
• Nature and Scope of Management
• Management Processes – Planning, Organisation, Staffing, Directing and Controlling; role of a Manager in an Organisation
• Leadership: The tasks of a leader; leadership styles; leadership theories; A successful Leader versus an effective leader
• Human Resource Development- Concept of HRD; Goals of HRD; Career Planning – Training and Development
• Performance Appraisal – Potential appraisal and development – feedback and performance counseling – rewards – employee welfare
• Motivation, Morale, and Incentives: Theories of Motivation; How Managers Motivate; Concept of Morale; Factors Determining Morale; Role of Incentives in Building up Morale
• 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
• Role of Information Technology
• Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate Governance.