IRDA Exam: Insurance Regulatory and Development Authority of India is the governing body that looks after the functioning of various General Insurance and Life insurance companies of the nation. IRDA sets rules and guidelines to run the Indian Insurance Industry. IRDA also regulates and sees the development of these industries. IRDA holds recruitment drive through Insurance institutes of India for IRDA exam. It is an all India level exam that recruits eligible candidates for dignified posts in IRDA. This exam is not annual recruitment and it is done based on the requirement of the company.
Posts in IRDA Exam 2020 Recruitment
The list of posts for which the exam is conducted have been mentioned below:
- Assistant Manager
- Manager (Grade B)
- Assistant General Manager (Grade C)
- Deputy General Manager (Grade D)
- General Manager (Grade E)
Among the aforementioned 5 posts, the recruitment for IRDA Assistant Manger is conducted for graduates.
Eligibility for IRDA Examination 2020
Candidates who wish to appear for the IRDA online exam must fulfill the minimum education qualification for the exam. The minimum Educational Qualification required for the exam is a Bachelor’s Degree. The aspirants must have at least passed Graduation with a minimum aggregate of 60% marks.
IRDA Exam Age Limit 2020
The minimum age of a candidate to appear for this exam varies depending upon the post. For the Assistant Manager recruitment, the minimum age limit is 21 years and the maximum age limit is 30 years. Candidates belonging to reserved categories have certain relaxation on the IRDA exam Age limit.
- Scheduled Caste/ Scheduled Tribe – 5 years
- OBC category – 3 years
- PwD candidates- 10 years.
IRDA Exam Selection Process
The selection process of the IRDA exam for Assistant Manager recruitment is set by the conducting body. The IRDA selection process comprises three stages. Candidates must qualify in each section and also in aggregate according to the cut-off marks of each section that is decided by IRDA.
- Stage I: Prelims exam
- Stage II: Mains exam
- Stage III: Interview
IRDA Exam Pattern
The phase-I of the IRDA Assistant Manager exam is a qualifying paper. Marks that are obtained in prelims will not be counted for an interview or final selection. Candidates will lose 1/4th mark for each wrong attempt.
|IRDA Exam – Prelims Paper Pattern|
|Sections||Number of Questions||Marks||Time|
|Reasoning||40 each section||40||90 minutes|
- Phase-II of IRDA exam for Assistant Manager post is a descriptive type of paper.
|IRDA Exam – Mains Paper Pattern|
|English||100 each section||60 minutes each section|
|Economic and Social Issues impacting insurance|
|Insurance and Management|
- Phase-III of the exam includes the interview process/personality test. Candidates will be shortlisted for interview round based on total marks obtained in the three sections of Phase-I. The final selection of candidates will be on the basis of performance in Phase-II and interview round.
IRDA Exam Syllabus 2020
IRDA Syllabus for Assistant Manager post has been provided mentioned below for Prelims and mains exam:
|English Language||Reasoning Ability||General Awareness||Quantitative Aptitude|
|Correct and Incorrect Usages.||The relationship.||Important Days.||Linear Equation.|
|Synonyms.||Differences.||Books and Authors.||Ratio & Proportion.|
|English Grammar.||Verbal and figure classification.||Current Events.||Data Sufficiency.|
|Comprehension.||Similarities.||Science – Inventions and Discoveries||Number Series.|
|Spellings.||Discrimination.||Indian Financial System||Permutation & Combination.|
|Antonyms||Arithmetical Reasoning.||Major Financial/ Economic News.||Mixtures & Allegations.|
|Tenses Rules||Decision-making.||Sports.||Sequences & Series.|
|Vocabulary||Arithmetical Number Series.||Abbreviations.||Profit & Loss.|
|Rules for Preposition||Problem-Solving.||Budget and Five Year Plans.||Number Systems.|
|Error Spotting||Concepts.||International and National Organizations.||Average.|
|Observation.||International Current Affairs||Time & Work.|
|Space Visualization.||National Current Affairs||Surds & Indices.|
|Visual Memory.||Awards and Honours.||Quadratic Equation.|
|Analysis and Judgement.||Problems on Ages.|
|Simple Interest & Compound Interest.|
|Mensuration – Cylinder, Cone, Sphere.|
|Time & distance.|
Apart from the above-mentioned subjects, the syllabus of the IRDA Assistant Manager exam also covers questions from the professional knowledge in the Mains exam. This professional knowledge section includes question-based on:
- Insurance & Management,
- Loans, Regulations and their general application
- Economic and Social Issues impacting insurance
IRDA Salary & Perks
The Assistant Manager in IRDA gets the starting basic pay of approximately 28000/- to 30,000/ per month. The initial monthly gross remuneration is approximately Rs. 80,000. IRDA Assistant Managers are also entitled to several perks as well. Some of the facilities they get are dearness allowance, House rent allowance, Grade Allowance, City compensatory allowance, Reimbursement of Expenses, Loans at concessional rate of interest, Leave travel concession, etc.
Frequently Asked Questions
Q. What is the educational qualification required to be eligible for IRDA recruitment.
The minimum Qualification required for the IRDA exam is a Bachelor’s Degree. The aspirants must have at least passed Graduation with a minimum aggregate of 60% marks.
Q. What is the maximum and minimum age limit to be eligible for IRDA recruitment.
The minimum age of a candidate to appear for IRDA exam varies depending upon the post. For the Assistant Manager recruitment, the minimum age limit is 21 years and the maximum age limit is 30 years.
Q. What is the selection process of the IRDA recruitment
The selection process of the IRDA recruitment includes 3 rounds
- Phase-I Prelims exam
- Phase -II Mains exam
- Phase -III Interview
Q. What is the salary of the Assistant Manager in IRDA?
The initial monthly gross remuneration of Assistant Manager in IRDA is approximately Rs. 80,000.