For the position of Assistant Manager, the Insurance Regulatory and Development Authority of India has published a notice. There are a total of 45 positions up for application. Candidates who are interested in applying for the position should be aware of the requirements, including eligibility requirements, the selection process, the exam format, etc. Find out everything you need to know about the IRDAI Assistant Manager Recruiting., We are providing the best free mock test for preparation.
Preparation: Mock tests help students to prepare for the final exams by giving them an idea of the types of questions they can expect.
Time Management: Mock tests simulate the actual exam and help students to practice time management. It helps them to learn how to allocate time to different sections of the exam.
Identifying strengths and weaknesses: Mock tests help students identify their strengths and weaknesses. This helps them to focus on their weak areas and work on them better.
Boosts confidence: Taking mock tests helps students to gain confidence in their knowledge and skills. It provides them with the chance to test their skills and learn from their mistakes.
Helps in revision: Mock tests are an effective tool for revision. They help students to revise their syllabus in a systematic manner.
Reduces anxiety: Taking mock tests reduces anxiety and exam fear. It helps students to learn to deal with the pressure of exams.
Improves scores: Regular practice with mock tests has been proven to help improve scores. It helps students to gain a better understanding of the subject matter and perform better in the exams.
Reading Comprehension Spellings Vocabulary Word Usage Antonyms Synonyms Error Detection Cloze Test Parajumble
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
Visual Memory Analogy Problem-Solving Analysis and Judgement Similarities Arithmetical Number Series. Space Visualization Differences Decision-making Verbal and figure classification Arithmetical Reasoning
Number System Simplification & Approximation Number Series Quadratic Equation Ratio & Proportion Percentage Problems on Ages Probability Time & Work Time & Distance Simple Interest Compound Interest Average Profit & Loss Mixtures & Allegations Permutation & Combination Data Sufficiency Linear Equation Mensuration
2. Paper II – 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 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, economic impact of risk transfer arrangements including reinsurance, contribution of Insurance sector to sustainable and responsible development of economy, Insurance Investments in Infrastructure sector;
Economic reforms in India leading to Insurance sector reforms, Insurance regulation – financial and market conduct regulations, functions of IRDAI, role of an Actuary, de-tariffing 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.
3. Paper III – 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 mobilising 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.
Part 2 – Management
Its nature and scope;
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 counselling – 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.