III IC-26 Exam Pattern and Passing Marks
Two hours, multiple choice, 60% to pass. Here is how the paper is scored and what III does not publish.
IC-26 Life Insurance Finance 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 descriptive paper, no practical and no interview.
This page covers the mechanics: how the paper is scored, what happens if a question is wrong, and the exam-day rules. What the questions cover is on the syllabus page.
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The IC-26 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 | 30, towards the 250 the Associateship needs (including 60 from the Licentiate) |
| Level | Associateship compulsory (IC-26 for Life, or IC-46 for Non-Life) |
| Language | English; III publishes the list of subjects offered bilingually each session |
How Many Questions Are There?
III states the pass rule as a percentage and does not print a question count or maximum marks for its professional papers. IC-26 is widely reported as 100 questions. Whatever the count on the day, the bar is the same: 60% of the maximum.
What the Questions Look Like
IC-26 mixes three kinds of question. Some test a rule or definition: what the business entity concept says, which account a reinsurance recovery goes to, what IRDAI requires in an insurer's business plan. Some describe a situation and ask how it is booked: a renewal premium received before its due date, a claim intimated but not yet paid. And some need a short calculation, such as a ratio or a budget variance.
The trap is usually a near-miss term. Options will differ between premium received and premium recognised, policyholders' and shareholders' accounts, a flexible and a master budget. Learn the exact terms, not just the idea.
Quick practice on accounts and ratios. No signup.
What Happens if a Question Is Wrong
III's Examination Handbook sets a fixed rule:
- 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.
- 2
Under 10% wrong: the question is dropped
If fewer than 10% of the questions are declared erroneous, they are removed for everyone, attempted or not, and your marks are 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, with 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
From III's Examination Handbook.
- checkBring the hall ticket you downloaded when you booked your slot, with a valid photo identity card.
- checkSimple and scientific calculators are allowed, but III does not provide one. Bring your own for ratio and variance questions.
- checkNo books, notes, periodicals or mobile phones in the hall. Possessing them counts as unfair means.
- checkYou may carry a water bottle.
- checkEligible candidates with a disability get 20 extra minutes for every hour of the exam.
- checkYou can sit up to 6 papers in one session, so IC-26 can go alongside IC-22 and Associateship optionals.
Answer Every Question
With no negative marking and an instruction to attempt all questions, a blank can only cost you. If time runs short, mark an answer for every remaining question.
FAQs
What is the passing mark for IC-26?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-26?expand_more
No. III's FAQ states its MCQ exams have no negative marking, and its handbook asks for all questions to be attempted.
How many questions are in the IC-26 exam?expand_more
III does not print a question count for professional papers. IC-26 is widely reported as 100 multiple-choice questions in 2 hours.
Can I use a calculator in IC-26?expand_more
Yes. III allows simple and scientific calculators in the exam hall, but does not supply them.
Can I write IC-26 in Hindi?expand_more
The IC-26 study course is available in Hindi. Whether the paper itself is offered bilingually is published per session on III's Online Examination Schedule page; check it before you enrol.
Access exam-specific mock tests directly from your Android device.Next steps
- Syllabusarrow_forward
- Preparationarrow_forward
- Eligibility & Registrationarrow_forward
- III hall ticket and resultarrow_forward
Simulate the 2-hour paper against the 60% bar.