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2026 Statistics

Key Facts: III IC-29 Exam

100

Online MCQs per paper

III Examination Handbook

2 hours

Exam duration

III Examination Handbook

60%

Passing mark (75% Distinction)

III Examination Handbook

Credit points for IC-29

III credit-point system

INR 600

India paper fee (30 credits) w.e.f. 1.4.2026

III Table of Fees

INR 800

Fresh registration (India) w.e.f. 1.4.2026

III Table of Fees

III IC-29 is a 100-question, 2-hour online MCQ paper on General Insurance Claims. Passing requires 60% (Distinction from 75%). India paper enrollment for this 30-credit subject is INR 600 w.e.f. 1.4.2026, plus INR 800 registration for fresh candidates (taxes extra).

Sample III IC-29 Practice Questions

Try these sample questions to test your III IC-29 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which principle states that the insured should not profit from a loss, but only be restored to the same financial position they were in immediately before the loss?

A.Indemnity

B.Subrogation

C.Contribution

D.Proximate Cause

Explanation: The principle of indemnity ensures that the insured is restored to their exact financial position prior to the loss, without making a profit. This prevents moral hazard.

2Under a standard fire insurance policy, what is the role of a surveyor in the claims process?

A.To repair the damaged property

B.To assess the quantum of loss and determine the cause

C.To legally defend the insured in court

D.To issue a new policy after a claim

Explanation: A surveyor is an independent professional appointed by the insurer to assess the extent of the loss and determine if it falls within the policy's scope of coverage.

3In motor insurance, what does 'Constructive Total Loss' (CTL) refer to?

A.When the vehicle is stolen and untraceable

B.When the vehicle is completely destroyed by fire

C.When the cost of retrieval and repair exceeds 75% of the Insured Declared Value (IDV)

D.When the policyholder refuses to accept a partial repair

Explanation: A vehicle is considered a Constructive Total Loss when the aggregate cost of retrieval and repair exceeds 75% of the IDV of the vehicle.

4What is the primary function of the Insurance Ombudsman in India?

A.To regulate insurance companies' premium rates

B.To license new surveyors and loss assessors

C.To manage the investments of life insurance companies

D.To mediate and resolve disputes regarding insurance claims up to a certain monetary limit

Explanation: The Insurance Ombudsman serves as an alternative dispute resolution forum to resolve grievances of policyholders regarding claim settlements and other service issues.

5Which of the following documents is generally NOT required for processing an Own Damage (OD) claim in motor insurance?

A.Fitness certificate for private cars

B.Claim form duly filled and signed

C.Copy of the driving license

D.First Information Report (FIR)

Explanation: A fitness certificate is generally mandatory for commercial vehicles, not private cars, although registration certificates and driving licenses are always required.

6In marine insurance, what is a 'General Average' act?

A.A loss caused by ordinary wear and tear during a voyage

B.An extraordinary sacrifice or expenditure voluntarily made to save the whole venture from a common peril

C.The average number of claims filed per voyage

D.A loss caused by the delay of the ship arriving at the port

Explanation: General Average applies when a voluntary sacrifice or expenditure is made in a time of peril to save the ship, cargo, and freight from a common danger. All saved parties must contribute to the loss.

7What is the purpose of an 'Average Clause' in a fire insurance policy?

A.To calculate the average premium across multiple policies

B.To ensure claims are paid out within an average timeframe

C.To penalize the insured for underinsurance by reducing the claim payout proportionately

D.To allow the insurer to average out the sum insured over different locations

Explanation: The Average Clause is invoked when property is underinsured. It ensures the insured bears a proportionate share of any loss, preventing them from paying premiums on a lower value but claiming full losses.

8Who represents the interests of the cargo owner in assessing damage during a marine cargo claim?

A.The ship's captain

B.The P&I Club representative

C.The port authority

D.The average adjuster or surveyor

Explanation: An average adjuster or an independent marine surveyor is typically appointed to assess the extent of damage and determine liability under the marine policy.

9Under a health insurance policy, what does 'Cashless Facility' imply?

A.The insurer directly settles the hospital bills with the network hospital up to the authorized limit

B.The insured does not have to pay premiums in cash

C.The insured gets cash back if no claims are made during the year

D.The hospital waives all charges for the treatment

Explanation: A cashless facility allows the insured to receive treatment at a network hospital without paying out-of-pocket (up to the approved limit), as the insurer settles the bill directly.

10In liability insurance, what is a 'Claims-Made' policy?

A.A policy that covers claims for incidents that occurred during the policy period, regardless of when they are reported

B.A policy that covers claims only if both the incident occurred and the claim is reported during the active policy period

C.A policy that strictly covers only bodily injury claims

D.A policy that pays out automatically without investigation upon a claim being made

Explanation: A claims-made policy requires that the claim be made (reported) during the policy period, and usually the incident must also occur after a specified retroactive date.

About the III IC-29 Exam

The III IC-29 General Insurance Claims exam evaluates candidate understanding of key principles and practical concepts in General Insurance Claims. The syllabus encompasses various modules detailed below.

Assessment

100 objective multiple-choice questions in a single online paper. IC-29 is a 30-credit paper under the Insurance Institute of India (III) professional credit system.

Time Limit

2 hours

Passing Score

60% (Distinction at 75% or above)

Exam Fee

INR 600 per subject (30 credit points) for India candidates; fresh candidates also pay INR 800 registration (inclusive of life membership). Taxes extra. Fees w.e.f. 1.4.2026 per III Table of Fees. (Insurance Institute of India (III))

III IC-29 Exam Content Outline

6 questions

Documentation

Practice questions focusing on documentation concepts.

5 questions

Settlement

Practice questions focusing on settlement concepts.

4 questions

Fraud

Practice questions focusing on fraud concepts.

4 questions

Valuation

Practice questions focusing on valuation concepts.

3 questions

Perils

Practice questions focusing on perils concepts.

3 questions

Exclusions

Practice questions focusing on exclusions concepts.

2 questions

Indemnity

Practice questions focusing on indemnity concepts.

2 questions

Surveyor Role

Practice questions focusing on surveyor role concepts.

2 questions

Idv

Practice questions focusing on idv concepts.

2 questions

Ombudsman

Practice questions focusing on ombudsman concepts.

2 questions

Average Clause

Practice questions focusing on average clause concepts.

2 questions

Cashless Facility

Practice questions focusing on cashless facility concepts.

2 questions

Policy Types

Practice questions focusing on policy types concepts.

2 questions

Subrogation

Practice questions focusing on subrogation concepts.

2 questions

Legal Principles

Practice questions focusing on legal principles concepts.

2 questions

Engineering Insurance

Practice questions focusing on engineering insurance concepts.

2 questions

Car Policy

Practice questions focusing on car policy concepts.

2 questions

Bill Of Lading

Practice questions focusing on bill of lading concepts.

2 questions

Regulations

Practice questions focusing on regulations concepts.

2 questions

Business Interruption

Practice questions focusing on business interruption concepts.

2 questions

Tpa

Practice questions focusing on tpa concepts.

2 questions

Intermediaries

Practice questions focusing on intermediaries concepts.

2 questions

Liability

Practice questions focusing on liability concepts.

2 questions

Crop Insurance

Practice questions focusing on crop insurance concepts.

2 questions

Utmost Good Faith

Practice questions focusing on utmost good faith concepts.

2 questions

Policy Conditions

Practice questions focusing on policy conditions concepts.

2 questions

Hull Insurance

Practice questions focusing on hull insurance concepts.

2 questions

Intimation

Practice questions focusing on intimation concepts.

2 questions

Irdai

Practice questions focusing on irdai concepts.

2 questions

Investigation

Practice questions focusing on investigation concepts.

2 questions

Third Party

Practice questions focusing on third party concepts.

2 questions

Legal Framework

Practice questions focusing on legal framework concepts.

2 questions

Calculation

Practice questions focusing on calculation concepts.

2 questions

Jurisdiction

Practice questions focusing on jurisdiction concepts.

2 questions

Roles

Practice questions focusing on roles concepts.

2 questions

Definitions

Practice questions focusing on definitions concepts.

2 questions

Cancellation

Practice questions focusing on cancellation concepts.

2 questions

Warranties

Practice questions focusing on warranties concepts.

2 questions

Dispute Resolution

Practice questions focusing on dispute resolution concepts.

1 questions

Insurance Principles

Practice questions focusing on insurance principles concepts.

1 questions

Fire Insurance

Practice questions focusing on fire insurance concepts.

1 questions

Total Loss

Practice questions focusing on total loss concepts.

1 questions

Grievance

Practice questions focusing on grievance concepts.

1 questions

Own Damage

Practice questions focusing on own damage concepts.

1 questions

General Average

Practice questions focusing on general average concepts.

1 questions

Marine Perils

Practice questions focusing on marine perils concepts.

1 questions

Underinsurance

Practice questions focusing on underinsurance concepts.

1 questions

Surveyors Assessors

Practice questions focusing on surveyors assessors concepts.

1 questions

Cargo

Practice questions focusing on cargo concepts.

1 questions

Network Hospital

Practice questions focusing on network hospital concepts.

1 questions

Claims Made

Practice questions focusing on claims made concepts.

1 questions

Agreements

Practice questions focusing on agreements concepts.

1 questions

Claims Settlement

Practice questions focusing on claims settlement concepts.

1 questions

Irdai Regulations

Practice questions focusing on irdai regulations concepts.

1 questions

Turnaround Time

Practice questions focusing on turnaround time concepts.

1 questions

Penal Interest

Practice questions focusing on penal interest concepts.

1 questions

Indemnity Period

Practice questions focusing on indemnity period concepts.

1 questions

Doctrines

Practice questions focusing on doctrines concepts.

1 questions

Personal Accident

Practice questions focusing on personal accident concepts.

1 questions

Disablement

Practice questions focusing on disablement concepts.

1 questions

Salvage

Practice questions focusing on salvage concepts.

1 questions

Motor Vehicles Act

Practice questions focusing on motor vehicles act concepts.

1 questions

Mandatory Insurance

Practice questions focusing on mandatory insurance concepts.

1 questions

Yield Assessment

Practice questions focusing on yield assessment concepts.

1 questions

Particular Average

Practice questions focusing on particular average concepts.

1 questions

Proximate Cause

Practice questions focusing on proximate cause concepts.

1 questions

Concurrent Causes

Practice questions focusing on concurrent causes concepts.

1 questions

Theft

Practice questions focusing on theft concepts.

1 questions

Ped

Practice questions focusing on ped concepts.

1 questions

Waiting Period

Practice questions focusing on waiting period concepts.

1 questions

Act Of God

Practice questions focusing on act of god concepts.

1 questions

Non Disclosure

Practice questions focusing on non disclosure concepts.

1 questions

Licensing

Practice questions focusing on licensing concepts.

1 questions

Ex Gratia

Practice questions focusing on ex gratia concepts.

1 questions

Fire Policy

Practice questions focusing on fire policy concepts.

1 questions

Defense Costs

Practice questions focusing on defense costs concepts.

1 questions

Legal Expenses

Practice questions focusing on legal expenses concepts.

1 questions

Aviation

Practice questions focusing on aviation concepts.

1 questions

Legal Agreements

Practice questions focusing on legal agreements concepts.

1 questions

Liability Limits

Practice questions focusing on liability limits concepts.

1 questions

Mact

Practice questions focusing on mact concepts.

1 questions

Sue And Labour

Practice questions focusing on sue and labour concepts.

1 questions

Loss Minimization

Practice questions focusing on loss minimization concepts.

1 questions

Reinstatement

Practice questions focusing on reinstatement concepts.

1 questions

Workmens Compensation

Practice questions focusing on workmens compensation concepts.

1 questions

Consumer Protection Act

Practice questions focusing on consumer protection act concepts.

1 questions

Ncb

Practice questions focusing on ncb concepts.

1 questions

Renewal

Practice questions focusing on renewal concepts.

1 questions

Fidelity Guarantee

Practice questions focusing on fidelity guarantee concepts.

1 questions

Complex Claims

Practice questions focusing on complex claims concepts.

1 questions

Co Payment

Practice questions focusing on co payment concepts.

1 questions

Cost Sharing

Practice questions focusing on cost sharing concepts.

1 questions

Cpm

Practice questions focusing on cpm concepts.

1 questions

Partial Loss

Practice questions focusing on partial loss concepts.

1 questions

Basis Of Indemnity

Practice questions focusing on basis of indemnity concepts.

1 questions

Evidence

Practice questions focusing on evidence concepts.

1 questions

Clauses

Practice questions focusing on clauses concepts.

1 questions

Fpa

Practice questions focusing on fpa concepts.

1 questions

Negotiation

Practice questions focusing on negotiation concepts.

1 questions

Motor Tariff

Practice questions focusing on motor tariff concepts.

1 questions

Pre Authorization

Practice questions focusing on pre authorization concepts.

1 questions

Pli Act

Practice questions focusing on pli act concepts.

1 questions

Absolute Liability

Practice questions focusing on absolute liability concepts.

1 questions

Burglary

Practice questions focusing on burglary concepts.

1 questions

Non Standard

Practice questions focusing on non standard concepts.

1 questions

D And O

Practice questions focusing on d and o concepts.

1 questions

Threshold Yield

Practice questions focusing on threshold yield concepts.

1 questions

Legal Rights

Practice questions focusing on legal rights concepts.

1 questions

Defense

Practice questions focusing on defense concepts.

1 questions

Franchise

Practice questions focusing on franchise concepts.

1 questions

Deductibles

Practice questions focusing on deductibles concepts.

1 questions

Shortage

Practice questions focusing on shortage concepts.

1 questions

Debris Removal

Practice questions focusing on debris removal concepts.

1 questions

Extensions

Practice questions focusing on extensions concepts.

1 questions

Ear

Practice questions focusing on ear concepts.

1 questions

Premium

Practice questions focusing on premium concepts.

1 questions

Seaworthiness

Practice questions focusing on seaworthiness concepts.

1 questions

Professional Indemnity

Practice questions focusing on professional indemnity concepts.

1 questions

Malpractice

Practice questions focusing on malpractice concepts.

1 questions

Depreciation

Practice questions focusing on depreciation concepts.

1 questions

Recovery

Practice questions focusing on recovery concepts.

1 questions

Gross Profit

Practice questions focusing on gross profit concepts.

1 questions

Repudiation

Practice questions focusing on repudiation concepts.

1 questions

Insurable Interest

Practice questions focusing on insurable interest concepts.

1 questions

Bail Bonds

Practice questions focusing on bail bonds concepts.

1 questions

Spontaneous Combustion

Practice questions focusing on spontaneous combustion concepts.

1 questions

Consequential Loss

Practice questions focusing on consequential loss concepts.

1 questions

Jewelers Block

Practice questions focusing on jewelers block concepts.

1 questions

Consumer Protection

Practice questions focusing on consumer protection concepts.

1 questions

Deficiency In Service

Practice questions focusing on deficiency in service concepts.

1 questions

Arbitration

Practice questions focusing on arbitration concepts.

1 questions

Cyber Insurance

Practice questions focusing on cyber insurance concepts.

1 questions

First Party Loss

Practice questions focusing on first party loss concepts.

1 questions

Transit

Practice questions focusing on transit concepts.

1 questions

Moral Hazard

Practice questions focusing on moral hazard concepts.

1 questions

Risk

Practice questions focusing on risk concepts.

1 questions

Room Rent

Practice questions focusing on room rent concepts.

1 questions

Sub Limits

Practice questions focusing on sub limits concepts.

1 questions

Contribution

Practice questions focusing on contribution concepts.

1 questions

Principles

Practice questions focusing on principles concepts.

1 questions

Duty Of Disclosure

Practice questions focusing on duty of disclosure concepts.

1 questions

Insured Obligations

Practice questions focusing on insured obligations concepts.

1 questions

Jettison

Practice questions focusing on jettison concepts.

1 questions

Delayed Reporting

Practice questions focusing on delayed reporting concepts.

1 questions

Policyholder Protection

Practice questions focusing on policyholder protection concepts.

1 questions

Product Liability

Practice questions focusing on product liability concepts.

1 questions

Legal Requirements

Practice questions focusing on legal requirements concepts.

1 questions

Legal Terms

Practice questions focusing on legal terms concepts.

How to Pass the III IC-29 Exam

What You Need to Know

Passing score: 60% (Distinction at 75% or above)
Assessment: 100 objective multiple-choice questions in a single online paper. IC-29 is a 30-credit paper under the Insurance Institute of India (III) professional credit system.
Time limit: 2 hours
Exam fee: INR 600 per subject (30 credit points) for India candidates; fresh candidates also pay INR 800 registration (inclusive of life membership). Taxes extra. Fees w.e.f. 1.4.2026 per III Table of Fees.

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

III IC-29 Study Tips from Top Performers

1Study the official III IC-29 coursebook chapter by chapter before mixed mocks.

2Review the core regulations and guidelines relating to this paper.

3Sit full 100-question, 2-hour mocks aiming above 60%, with Distinction practice at 75%+.

Frequently Asked Questions

How many questions are on the III IC-29 exam?

The III objective papers, including IC-29, consist of 100 multiple-choice questions completed in 2 hours online.

What is the IC-29 passing score?

Passing marks for III online MCQ papers are 60% or above. Candidates scoring at least 75% earn Distinction in that subject.

How many credit points does IC-29 carry?

This paper (IC-29) carries 30 credit points under the Insurance Institute of India credit system.

100+ Free III IC-29 Practice Questions

Explore More Insurance Institute of India (III) Licentiate Papers

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Key Facts: III IC-29 Exam

Sample III IC-29 Practice Questions

About the III IC-29 Exam

III IC-29 Exam Content Outline

How to Pass the III IC-29 Exam

What You Need to Know

Keys to Passing

III IC-29 Study Tips from Top Performers

Frequently Asked Questions