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100+ Free III IC-76 Practice Questions

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2026 Statistics

Key Facts: III IC-76 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-76

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-76 is a 100-question, 2-hour online MCQ paper on Aviation Insurance. 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-76 Practice Questions

Try these sample questions to test your III IC-76 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which 1929 convention first established international rules limiting airline liability for passenger death or injury, baggage, and cargo?
A.Geneva Convention
B.Warsaw Convention
C.Rome Convention
D.Chicago Convention
Explanation: The Warsaw Convention of 1929 was the first major international treaty setting airline liability rules for passenger death or injury and for baggage and cargo. The Montreal Convention 1999 later modernised those rules for States Parties.
2In aviation insurance, what does 'AVN 1C' refer to?
A.A regulatory certificate for aircraft airworthiness
B.A standard policy wording for aviation hull and liability insurance
C.A specific exclusion for war and hijacking risks
D.An endorsement for space launch liability
Explanation: AVN 1C is the standard London market aircraft insurance policy form used to provide Hull, Spares, and Liability coverage.
3Under the Montreal Convention of 1999, airlines have strict liability for passenger death or injury up to what threshold?
A.100,000 SDRs
B.128,821 SDRs
C.151,880 SDRs
D.500,000 SDRs
Explanation: Under the Montreal Convention 1999, ICAO periodically revises liability limits. Effective 28 December 2024, the first-tier strict liability threshold for passenger death or bodily injury is 151,880 Special Drawing Rights (SDRs). Above that tier, the carrier may avoid unlimited liability only by proving it was not negligent (or that a third party was solely at fault).
4Which of the following is typically excluded from a standard Aviation Hull 'All Risks' policy but can be bought back via an endorsement?
A.War, hijacking, and terrorism
B.Damage from lightning strikes
C.Damage during towing on the ground
D.Ingestion of foreign objects into the engine
Explanation: War, hijacking, and terrorism are typically excluded under the standard AVN 48B clause and must be bought back using a separate endorsement or policy (like Hull War).
5What is the primary purpose of 'Loss of Use' insurance in aviation?
A.To provide a replacement aircraft permanently
B.To cover the financial loss from the inability to use an aircraft due to covered damage
C.To compensate passengers for delayed flights
D.To cover the loss of a pilot's license
Explanation: Loss of Use (also called consequential loss or aircraft downtime cover) compensates the insured for financial loss — such as lost revenue or the cost of a substitute aircraft — while an aircraft is unavailable due to physical damage covered under the hull policy. It is distinct from Hull Total Loss settlement of the agreed value.
6Which liability relates to the legal obligation of an airline if their aircraft crashes and damages houses on the ground?
A.Passenger Legal Liability
B.Cargo Liability
C.Third Party Legal Liability
D.Hangar Keepers Liability
Explanation: Third Party Legal Liability covers damage to property and bodily injury to persons outside the aircraft, such as people or structures on the ground.
7In satellite insurance, what does 'Launch Insurance' typically cover?
A.The period from intentional ignition until the satellite reaches orbit and completes initial testing
B.The transit of the satellite from the factory to the launch pad
C.The entire operational lifespan of the satellite in orbit
D.The manufacturing phase of the satellite
Explanation: Launch Insurance generally covers the risk of loss or damage from the moment of intentional ignition of the launch vehicle through the launch phase, injection into orbit, and initial in-orbit testing (often up to 365 days post-launch).
8What does a 'Deductible' mean in the context of an Aviation Hull policy?
A.The maximum amount the insurer will pay for a total loss
B.The initial amount of a claim that the insured must bear themselves
C.A premium discount for good safety records
D.The amount paid to third parties for bodily injury
Explanation: A deductible is the self-insured retention; it is the first portion of any partial loss claim that the insured is responsible for paying before the insurance coverage applies.
9Which of the following would require 'Products Liability' insurance in the aviation sector?
A.An airline operating scheduled passenger flights
B.An airport authority managing runways
C.A passenger buying an airline ticket
D.A company that manufactures aircraft engines or components
Explanation: Aviation Products Liability is essential for manufacturers, maintainers, and suppliers of aircraft parts. It covers them against claims arising from defects in the products they design, manufacture, or repair that cause an aviation accident.
10How are aircraft typically valued for Hull insurance purposes?
A.Replacement Cost
B.Agreed Value
C.Market Value at the time of loss
D.Actual Cash Value
Explanation: Aviation Hull insurance is typically written on an 'Agreed Value' basis. The insurer and insured agree on the aircraft's value at the inception of the policy, which is the amount paid in the event of a total loss, regardless of depreciation.

About the III IC-76 Exam

The III IC-76 Aviation Insurance exam evaluates candidate understanding of key principles and practical concepts in Aviation Insurance. The syllabus encompasses various modules detailed below.

Assessment

100 objective multiple-choice questions in a single online paper. IC-76 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-76 Exam Content Outline

8 questions

Montreal Convention

Practice questions focusing on montreal convention concepts.

5 questions

Exclusions

Practice questions focusing on exclusions concepts.

5 questions

War Risks

Practice questions focusing on war risks concepts.

5 questions

Underwriting

Practice questions focusing on underwriting concepts.

5 questions

Claims

Practice questions focusing on claims concepts.

4 questions

Clauses

Practice questions focusing on clauses concepts.

4 questions

Policy Conditions

Practice questions focusing on policy conditions concepts.

3 questions

Passenger Liability

Practice questions focusing on passenger liability concepts.

3 questions

Deductibles

Practice questions focusing on deductibles concepts.

3 questions

Products Liability

Practice questions focusing on products liability concepts.

3 questions

Manufacturers

Practice questions focusing on manufacturers concepts.

3 questions

In Orbit

Practice questions focusing on in orbit concepts.

3 questions

Reinsurance

Practice questions focusing on reinsurance concepts.

3 questions

Spares

Practice questions focusing on spares concepts.

2 questions

Ground Damage

Practice questions focusing on ground damage concepts.

2 questions

Launch Insurance

Practice questions focusing on launch insurance concepts.

2 questions

Valuation

Practice questions focusing on valuation concepts.

2 questions

Regulatory Bodies

Practice questions focusing on regulatory bodies concepts.

2 questions

Liability Limits

Practice questions focusing on liability limits concepts.

2 questions

Airport Liability

Practice questions focusing on airport liability concepts.

2 questions

Premises

Practice questions focusing on premises concepts.

2 questions

Total Loss

Practice questions focusing on total loss concepts.

2 questions

Third Party

Practice questions focusing on third party concepts.

2 questions

Documentation

Practice questions focusing on documentation concepts.

2 questions

Market Structure

Practice questions focusing on market structure concepts.

2 questions

Geographical Limits

Practice questions focusing on geographical limits concepts.

2 questions

Perils

Practice questions focusing on perils concepts.

2 questions

Financiers

Practice questions focusing on financiers concepts.

2 questions

Definitions

Practice questions focusing on definitions concepts.

2 questions

Legal Principles

Practice questions focusing on legal principles concepts.

2 questions

Utmost Good Faith

Practice questions focusing on utmost good faith concepts.

2 questions

London Market

Practice questions focusing on london market concepts.

2 questions

Policy Structure

Practice questions focusing on policy structure concepts.

1 questions

International Conventions

Practice questions focusing on international conventions concepts.

1 questions

Policy Clauses

Practice questions focusing on policy clauses concepts.

1 questions

Liability

Practice questions focusing on liability concepts.

1 questions

Loss Of Use

Practice questions focusing on loss of use concepts.

1 questions

Financial Loss

Practice questions focusing on financial loss concepts.

1 questions

Liability Types

Practice questions focusing on liability types concepts.

1 questions

Satellite

Practice questions focusing on satellite concepts.

1 questions

Policy Terms

Practice questions focusing on policy terms concepts.

1 questions

Agreed Value

Practice questions focusing on agreed value concepts.

1 questions

Icao

Practice questions focusing on icao concepts.

1 questions

Sdr

Practice questions focusing on sdr concepts.

1 questions

Satellite Operations

Practice questions focusing on satellite operations concepts.

1 questions

Csl

Practice questions focusing on csl concepts.

1 questions

Rome Convention

Practice questions focusing on rome convention concepts.

1 questions

Risk Transfer

Practice questions focusing on risk transfer concepts.

1 questions

Hazards

Practice questions focusing on hazards concepts.

1 questions

Fueling

Practice questions focusing on fueling concepts.

1 questions

Air Waybill

Practice questions focusing on air waybill concepts.

1 questions

Property

Practice questions focusing on property concepts.

1 questions

Brokers

Practice questions focusing on brokers concepts.

1 questions

International Law

Practice questions focusing on international law concepts.

1 questions

Engine Damage

Practice questions focusing on engine damage concepts.

1 questions

Endorsements

Practice questions focusing on endorsements concepts.

1 questions

Baggage Delay

Practice questions focusing on baggage delay concepts.

1 questions

Moral Hazard

Practice questions focusing on moral hazard concepts.

1 questions

Policy Sections

Practice questions focusing on policy sections concepts.

1 questions

Ctl

Practice questions focusing on ctl concepts.

1 questions

Satellite Failure

Practice questions focusing on satellite failure concepts.

1 questions

Ingestion

Practice questions focusing on ingestion concepts.

1 questions

Non Owned

Practice questions focusing on non owned concepts.

1 questions

Corporate Liability

Practice questions focusing on corporate liability concepts.

1 questions

Market Bodies

Practice questions focusing on market bodies concepts.

1 questions

Industry Associations

Practice questions focusing on industry associations concepts.

1 questions

Air Mail

Practice questions focusing on air mail concepts.

1 questions

Lay Up

Practice questions focusing on lay up concepts.

1 questions

Premium Returns

Practice questions focusing on premium returns concepts.

1 questions

Personal Injury

Practice questions focusing on personal injury concepts.

1 questions

Surveyors

Practice questions focusing on surveyors concepts.

1 questions

Grounding Liability

Practice questions focusing on grounding liability concepts.

1 questions

Subrogation

Practice questions focusing on subrogation concepts.

1 questions

Cyber

Practice questions focusing on cyber concepts.

1 questions

Reinsurance Types

Practice questions focusing on reinsurance types concepts.

1 questions

Facultative

Practice questions focusing on facultative concepts.

1 questions

Ground Transport

Practice questions focusing on ground transport concepts.

1 questions

Rating Factors

Practice questions focusing on rating factors concepts.

1 questions

Two Tier System

Practice questions focusing on two tier system concepts.

1 questions

Search And Rescue

Practice questions focusing on search and rescue concepts.

1 questions

Expenses

Practice questions focusing on expenses concepts.

1 questions

Contingent Liability

Practice questions focusing on contingent liability concepts.

1 questions

Cross Liability

Practice questions focusing on cross liability concepts.

1 questions

Missing Aircraft

Practice questions focusing on missing aircraft concepts.

1 questions

Actual Total Loss

Practice questions focusing on actual total loss concepts.

1 questions

Launch Liability

Practice questions focusing on launch liability concepts.

1 questions

Inherent Vice

Practice questions focusing on inherent vice concepts.

1 questions

Confiscation

Practice questions focusing on confiscation concepts.

1 questions

Tria

Practice questions focusing on tria concepts.

1 questions

Terrorism Legislation

Practice questions focusing on terrorism legislation concepts.

1 questions

Passenger Injury

Practice questions focusing on passenger injury concepts.

1 questions

Duty Of Care

Practice questions focusing on duty of care concepts.

1 questions

Roles

Practice questions focusing on roles concepts.

1 questions

Claims Vs Underwriting

Practice questions focusing on claims vs underwriting concepts.

1 questions

Betterment

Practice questions focusing on betterment concepts.

1 questions

Avn48b

Practice questions focusing on avn48b concepts.

1 questions

Excess Liability

Practice questions focusing on excess liability concepts.

1 questions

Transponders

Practice questions focusing on transponders concepts.

1 questions

Atc Liability

Practice questions focusing on atc liability concepts.

1 questions

Service Providers

Practice questions focusing on service providers concepts.

1 questions

Iata

Practice questions focusing on iata concepts.

1 questions

Standards

Practice questions focusing on standards concepts.

1 questions

Hijacking

Practice questions focusing on hijacking concepts.

1 questions

Ransom

Practice questions focusing on ransom concepts.

1 questions

Non Disclosure

Practice questions focusing on non disclosure concepts.

1 questions

Chicago Convention

Practice questions focusing on chicago convention concepts.

1 questions

Freedoms Of The Air

Practice questions focusing on freedoms of the air concepts.

1 questions

Fleet Profile

Practice questions focusing on fleet profile concepts.

1 questions

Safety Standards

Practice questions focusing on safety standards concepts.

1 questions

Limits Of Indemnity

Practice questions focusing on limits of indemnity concepts.

1 questions

Pre Launch

Practice questions focusing on pre launch concepts.

1 questions

Transit

Practice questions focusing on transit concepts.

1 questions

Baggage

Practice questions focusing on baggage concepts.

1 questions

Airworthiness

Practice questions focusing on airworthiness concepts.

1 questions

Placing Slip

Practice questions focusing on placing slip concepts.

1 questions

Ground Risk

Practice questions focusing on ground risk concepts.

1 questions

Coverage Types

Practice questions focusing on coverage types concepts.

1 questions

Limitation Period

Practice questions focusing on limitation period concepts.

1 questions

Test Flights

Practice questions focusing on test flights concepts.

1 questions

Retrocession

Practice questions focusing on retrocession concepts.

1 questions

Air Meet

Practice questions focusing on air meet concepts.

1 questions

Event Liability

Practice questions focusing on event liability concepts.

1 questions

Dangerous Goods

Practice questions focusing on dangerous goods concepts.

1 questions

Compliance

Practice questions focusing on compliance concepts.

1 questions

Loss Of License

Practice questions focusing on loss of license concepts.

1 questions

Pilots

Practice questions focusing on pilots concepts.

1 questions

Advance Payments

Practice questions focusing on advance payments concepts.

1 questions

Accumulation Risk

Practice questions focusing on accumulation risk concepts.

1 questions

General Aviation

Practice questions focusing on general aviation concepts.

1 questions

Risk Classification

Practice questions focusing on risk classification concepts.

1 questions

End Of Life

Practice questions focusing on end of life concepts.

1 questions

Pilot Warranty

Practice questions focusing on pilot warranty concepts.

1 questions

Defenses

Practice questions focusing on defenses concepts.

1 questions

Hangar Keepers

Practice questions focusing on hangar keepers concepts.

1 questions

Bailment

Practice questions focusing on bailment concepts.

1 questions

Captives

Practice questions focusing on captives concepts.

1 questions

Self Insurance

Practice questions focusing on self insurance concepts.

1 questions

Embarkation

Practice questions focusing on embarkation concepts.

How to Pass the III IC-76 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-76 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-76 Study Tips from Top Performers

1Study the official III IC-76 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-76 exam?

The III objective papers, including IC-76, consist of 100 multiple-choice questions completed in 2 hours online.

What is the IC-76 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-76 carry?

This paper (IC-76) carries 30 credit points under the Insurance Institute of India credit system.