III IC-01 Exam Pattern and Passing Marks
Two hours, multiple choice, 60% to pass. The bar is higher than most insurance exams, and the rules are worth knowing.
IC-01 Principles of Insurance is one online multiple-choice paper, 2 hours long. You pass with 60% and earn a distinction with 75%. There is no negative marking, and III expects every question to be attempted. There is no second stage, no descriptive paper and no interview.
This page covers the mechanics: how the paper is scored, what happens when a question is wrong, and the exam-day rules. For what the questions cover, see the syllabus page.
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The IC-01 Exam Pattern at a Glance
| Detail | What III says |
|---|---|
| Mode | Online, at an exam centre whose date, time and centre you book yourself |
| Question type | Objective multiple-choice questions (MCQ) |
| Duration | 2 hours |
| Pass mark | 60% and above |
| Distinction | 75% and above |
| Negative marking | None |
| Questions to attempt | All of them ("100% questions to be attempted") |
| Credit points on passing | 20 (of the 60 the Licentiate needs) |
| Language | Mostly English; III publishes a bilingual (English + Hindi) subject list each session |
How Many Questions Are There?
III's handbook states the pass mark as a percentage and does not print a question count or maximum marks for its professional papers. IC-01 is widely reported as 100 questions, and PrepClever's full mocks use 100. Whatever the count on the day, the bar is the same: 60% of the maximum.
60% Is a High Bar
IC-38, the agent licensing exam, has passed at 15 marks out of 50 (30%) since 1 January 2024, under a III circular that added up to two grace marks. IC-01 asks for 60%, the rule for every III professional paper. Getting four questions in ten wrong is a fail, so the comfortable margin people carry over from IC-38 does not exist here.
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What Happens if a Question Is Wrong
III's Examination Handbook sets a fixed rule for erroneous questions:
- 1
Raise it within 8 days
Log in to the III portal and file a Question Paper Related Query within 8 days of your exam. It costs ₹100 per query plus GST; queries by email are not considered.
- 2
Under 10% wrong: the question is dropped
If fewer than 10% of the questions are declared erroneous, they are removed for everyone, whether or not you attempted them, and your score is recalculated on the remaining questions as 100.
- 3
10% or more wrong: the paper is void
The paper is cancelled and III holds a re-examination for those who sat it, at no extra fee.
- 4
No re-totalling, no answer sheet
Re-totalling and revaluation are not available, and online candidates are not given their answer sheet.
Exam-Day Rules Worth Knowing
From III's Examination Handbook.
- checkBring your hall ticket, downloaded when you booked your slot. The invigilator stamps and signs it, and that is your proof of attendance.
- checkCarry an original government photo ID with your signature: passport, driving licence, PAN, voter ID or Aadhaar. An employer or college ID is accepted if it carries your photo, signature and the issuer's stamp.
- checkSimple and scientific calculators are allowed, but III does not provide one.
- checkNo books, notes or mobile phones in the hall. Possessing them counts as unfair means.
- checkYou may carry a water bottle.
- checkCandidates with a disability of 40% or more get 20 extra minutes for every hour of the exam, and can apply for a scribe in advance.
Your Score on the Day
Because the exam is online, your marks appear on screen as soon as you finish. That is not yet your result: III declares the formal result after its Board of Education approves it, roughly within a month, and you download the mark sheet from your login.
You can sit up to 6 papers in one session, so IC-01 can be taken alongside IC-02 or IC-11 and an optional paper in the same weekend.
Answer Every Question
With no negative marking and an instruction to attempt all questions, a blank answer can only cost you. If you run short of time, mark something for every remaining question rather than leaving it.
FAQs
What is the passing mark for IC-01?expand_more
60% and above. 75% and above is a distinction. This is III's rule for every professional MCQ paper.
Is there negative marking in IC-01?expand_more
No. III's FAQ states its professional exams pass at 60% "without any negative marking", and its handbook asks for all questions to be attempted.
How long is the IC-01 exam?expand_more
Two hours. Candidates with a disability of 40% or more get 20 extra minutes per hour.
How many questions are in IC-01?expand_more
III does not print the question count for professional papers. It is widely reported as 100 multiple-choice questions, which is the length of PrepClever's full mocks.
Is IC-01 online or offline?expand_more
Online in India. You book the date, time and centre yourself after enrolling, and the exam runs at that centre.
Can I see my IC-01 score straight away?expand_more
Yes, your marks show on screen when you finish. The formal result follows after III's Board of Education approves it, roughly within a month.
Next steps
- Syllabusarrow_forward
- Eligibility & Registrationarrow_forward
- Preparationarrow_forward
- Licentiate Examarrow_forward
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