100+ Free III IC-46 Practice Questions
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Key Facts: III IC-46 Exam
100
Online MCQs per paper
III Examination Handbook
2 hours
Exam duration
III Examination Handbook
60%
Passing mark (75% Distinction)
III Examination Handbook
30
Credit points for IC-46
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-46 is a 100-question, 2-hour online MCQ paper on General Insurance Accounts Preparation and Regulation of Investment. 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-46 Practice Questions
Try these sample questions to test your III IC-46 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1Which accounting standard is specifically concerned with 'Revenue Recognition' in the context of general insurance company accounts in India?
2As per IRDAI (Preparation of Financial Statements and Auditor's Report of Insurance Companies) Regulations, the financial statements of a general insurance company must include which of the following?
3In the Revenue Account of a general insurance company, 'Unexpired Risk Reserve' (URR) for fire and miscellaneous insurance business is usually maintained at what percentage of net premium?
4Which of the following qualifies under IRDAI Pattern of Investment / Approved Securities requirements for general insurers?
5The Available Solvency Margin (ASM) is determined by calculating the difference between:
6What is the minimum Control Level of Solvency required to be maintained by a general insurance company in India?
7In the context of reinsurance accounting, what is 'Profit Commission'?
8According to AS 3 (Cash Flow Statements), claims paid by a general insurance company are classified under which activity?
9Which Schedule of the financial statements of a general insurance company details 'Operating Expenses related to Insurance Business'?
10What is 'Catastrophe Reserve' in general insurance accounts?
About the III IC-46 Exam
The III IC-46 General Insurance Accounts Preparation and Regulation of Investment exam evaluates candidate understanding of key principles and practical concepts in General Insurance Accounts Preparation and Regulation of Investment. The syllabus encompasses various modules detailed below.
Assessment
100 objective multiple-choice questions in a single online paper. IC-46 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-46 Exam Content Outline
Operating Activities
Practice questions focusing on operating activities concepts.
Reserves
Practice questions focusing on reserves concepts.
Revenue Account
Practice questions focusing on revenue account concepts.
Valuation
Practice questions focusing on valuation concepts.
Operating Expenses
Practice questions focusing on operating expenses concepts.
Rsm
Practice questions focusing on rsm concepts.
Ibnr
Practice questions focusing on ibnr concepts.
Inadmissible Assets
Practice questions focusing on inadmissible assets concepts.
As 9
Practice questions focusing on as 9 concepts.
Reporting
Practice questions focusing on reporting concepts.
Government Securities
Practice questions focusing on government securities concepts.
Asm
Practice questions focusing on asm concepts.
Solvency Ratio
Practice questions focusing on solvency ratio concepts.
Control Level
Practice questions focusing on control level concepts.
As 3
Practice questions focusing on as 3 concepts.
Exposure Norms
Practice questions focusing on exposure norms concepts.
Concentration Risk
Practice questions focusing on concentration risk concepts.
Premium Accounting
Practice questions focusing on premium accounting concepts.
Balance Sheet
Practice questions focusing on balance sheet concepts.
Impairment
Practice questions focusing on impairment concepts.
Terminology
Practice questions focusing on terminology concepts.
Goodwill
Practice questions focusing on goodwill concepts.
Claims Incurred
Practice questions focusing on claims incurred concepts.
Urr
Practice questions focusing on urr concepts.
Treaty Types
Practice questions focusing on treaty types concepts.
Commission
Practice questions focusing on commission concepts.
Disclosures
Practice questions focusing on disclosures concepts.
Unlisted Equity
Practice questions focusing on unlisted equity concepts.
Governance
Practice questions focusing on governance concepts.
Definition
Practice questions focusing on definition concepts.
Schedule 4
Practice questions focusing on schedule 4 concepts.
Surplus Treaty
Practice questions focusing on surplus treaty concepts.
Pnl Account
Practice questions focusing on pnl account concepts.
Revenue Recognition
Practice questions focusing on revenue recognition concepts.
Irdai Regulations
Practice questions focusing on irdai regulations concepts.
Unexpired Risk Reserve
Practice questions focusing on unexpired risk reserve concepts.
Approved Investments
Practice questions focusing on approved investments concepts.
Profit Commission
Practice questions focusing on profit commission concepts.
Reinsurance Treaties
Practice questions focusing on reinsurance treaties concepts.
Schedules
Practice questions focusing on schedules concepts.
Catastrophe
Practice questions focusing on catastrophe concepts.
Calculation
Practice questions focusing on calculation concepts.
Portfolio Transfer
Practice questions focusing on portfolio transfer concepts.
Proportional Reinsurance
Practice questions focusing on proportional reinsurance concepts.
Equity Investments
Practice questions focusing on equity investments concepts.
As 17
Practice questions focusing on as 17 concepts.
Segment Reporting
Practice questions focusing on segment reporting concepts.
Interest Dividend
Practice questions focusing on interest dividend concepts.
Reinsurance Inward
Practice questions focusing on reinsurance inward concepts.
Npa
Practice questions focusing on npa concepts.
Provisions
Practice questions focusing on provisions concepts.
Advance Tax
Practice questions focusing on advance tax concepts.
Matching Concept
Practice questions focusing on matching concept concepts.
Quota Share
Practice questions focusing on quota share concepts.
Prudence
Practice questions focusing on prudence concepts.
Accounting Principles
Practice questions focusing on accounting principles concepts.
As 13
Practice questions focusing on as 13 concepts.
Investments
Practice questions focusing on investments concepts.
Notes To Accounts
Practice questions focusing on notes to accounts concepts.
Fair Value
Practice questions focusing on fair value concepts.
Investment Committee
Practice questions focusing on investment committee concepts.
Xol
Practice questions focusing on xol concepts.
Financing Activities
Practice questions focusing on financing activities concepts.
Equity
Practice questions focusing on equity concepts.
Schedule 2
Practice questions focusing on schedule 2 concepts.
Salvage
Practice questions focusing on salvage concepts.
Subrogation
Practice questions focusing on subrogation concepts.
Mandatory Investments
Practice questions focusing on mandatory investments concepts.
Formula
Practice questions focusing on formula concepts.
Retrocession
Practice questions focusing on retrocession concepts.
Premium Recognition
Practice questions focusing on premium recognition concepts.
Provision
Practice questions focusing on provision concepts.
Reserve
Practice questions focusing on reserve concepts.
Fixed Assets
Practice questions focusing on fixed assets concepts.
Investing Activities
Practice questions focusing on investing activities concepts.
Real Estate
Practice questions focusing on real estate concepts.
Regulatory Action
Practice questions focusing on regulatory action concepts.
Obligatory Treaty
Practice questions focusing on obligatory treaty concepts.
Reinsurance Types
Practice questions focusing on reinsurance types concepts.
Co Insurance
Practice questions focusing on co insurance concepts.
Lead Insurer
Practice questions focusing on lead insurer concepts.
As 22
Practice questions focusing on as 22 concepts.
Deferred Tax
Practice questions focusing on deferred tax concepts.
Securities Premium
Practice questions focusing on securities premium concepts.
Appointed Actuary
Practice questions focusing on appointed actuary concepts.
Schedule 5
Practice questions focusing on schedule 5 concepts.
Share Capital
Practice questions focusing on share capital concepts.
As 26
Practice questions focusing on as 26 concepts.
Intangible Assets
Practice questions focusing on intangible assets concepts.
Reinsurance Line
Practice questions focusing on reinsurance line concepts.
Solvency Returns
Practice questions focusing on solvency returns concepts.
Filing Frequency
Practice questions focusing on filing frequency concepts.
Fronting
Practice questions focusing on fronting concepts.
Risk Transfer
Practice questions focusing on risk transfer concepts.
Prepaid Expenses
Practice questions focusing on prepaid expenses concepts.
Current Assets
Practice questions focusing on current assets concepts.
Mtm
Practice questions focusing on mtm concepts.
Schedule 8
Practice questions focusing on schedule 8 concepts.
Shareholders Funds
Practice questions focusing on shareholders funds concepts.
Actuarial Valuation
Practice questions focusing on actuarial valuation concepts.
Facultative Reinsurance
Practice questions focusing on facultative reinsurance concepts.
As 15
Practice questions focusing on as 15 concepts.
Employee Benefits
Practice questions focusing on employee benefits concepts.
Liquidity
Practice questions focusing on liquidity concepts.
Schedule 11
Practice questions focusing on schedule 11 concepts.
Cash Equivalents
Practice questions focusing on cash equivalents concepts.
Contingent Liability
Practice questions focusing on contingent liability concepts.
Infrastructure
Practice questions focusing on infrastructure concepts.
Mandated Investments
Practice questions focusing on mandated investments concepts.
Asm Calculation
Practice questions focusing on asm calculation concepts.
Bordereau
Practice questions focusing on bordereau concepts.
As 28
Practice questions focusing on as 28 concepts.
Schedule 3
Practice questions focusing on schedule 3 concepts.
Unearned Premium
Practice questions focusing on unearned premium concepts.
Claims Index
Practice questions focusing on claims index concepts.
Rsm Calculation
Practice questions focusing on rsm calculation concepts.
Working Capital
Practice questions focusing on working capital concepts.
Indirect Method
Practice questions focusing on indirect method concepts.
Custodian
Practice questions focusing on custodian concepts.
Safeguarding
Practice questions focusing on safeguarding concepts.
Retention Line
Practice questions focusing on retention line concepts.
Extraordinary Items
Practice questions focusing on extraordinary items concepts.
Statutory Auditor
Practice questions focusing on statutory auditor concepts.
Audit Report
Practice questions focusing on audit report concepts.
Premium Deficiency
Practice questions focusing on premium deficiency concepts.
Ytm
Practice questions focusing on ytm concepts.
Fixed Income
Practice questions focusing on fixed income concepts.
Schedule 1
Practice questions focusing on schedule 1 concepts.
Premium Earned
Practice questions focusing on premium earned concepts.
Factor Based
Practice questions focusing on factor based concepts.
Treaty Reinsurance
Practice questions focusing on treaty reinsurance concepts.
As 5
Practice questions focusing on as 5 concepts.
Prior Period Items
Practice questions focusing on prior period items concepts.
Characteristics
Practice questions focusing on characteristics concepts.
Outstanding Claims
Practice questions focusing on outstanding claims concepts.
Ceding Commission
Practice questions focusing on ceding commission concepts.
Acquisition Costs
Practice questions focusing on acquisition costs concepts.
As 18
Practice questions focusing on as 18 concepts.
Related Party
Practice questions focusing on related party concepts.
Audit Committee
Practice questions focusing on audit committee concepts.
First Method
Practice questions focusing on first method concepts.
Premium Index
Practice questions focusing on premium index concepts.
Stop Loss
Practice questions focusing on stop loss concepts.
Aggregate Xol
Practice questions focusing on aggregate xol concepts.
As 2
Practice questions focusing on as 2 concepts.
Inventory
Practice questions focusing on inventory concepts.
Interest
Practice questions focusing on interest concepts.
Valuation Rules
Practice questions focusing on valuation rules concepts.
Objectives
Practice questions focusing on objectives concepts.
Impact Analysis
Practice questions focusing on impact analysis concepts.
Acronym
Practice questions focusing on acronym concepts.
As 10
Practice questions focusing on as 10 concepts.
Depreciation
Practice questions focusing on depreciation concepts.
Appropriation Account
Practice questions focusing on appropriation account concepts.
Profit Distribution
Practice questions focusing on profit distribution concepts.
Irdai
Practice questions focusing on irdai concepts.
Regulatory Body
Practice questions focusing on regulatory body concepts.
How to Pass the III IC-46 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-46 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-46 Study Tips from Top Performers
Frequently Asked Questions
How many questions are on the III IC-46 exam?
The III objective papers, including IC-46, consist of 100 multiple-choice questions completed in 2 hours online.
What is the IC-46 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-46 carry?
This paper (IC-46) carries 30 credit points under the Insurance Institute of India credit system.