100+ Free III IC-92 Practice Questions
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Key Facts: III IC-92 Exam
100
Online MCQs per paper
III Examination Handbook
2 hours
Exam duration
III Examination Handbook
60%
Passing mark (75% Distinction)
III Examination Handbook
40
Credit points for IC-92
III credit-point system
INR 600
India paper fee (40 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-92 is a 100-question, 2-hour online MCQ paper on Actuarial Aspects of Product Development. Passing requires 60% (Distinction from 75%). India paper enrollment for this 40-credit subject is INR 600 w.e.f. 1.4.2026, plus INR 800 registration for fresh candidates (taxes extra).
Sample III IC-92 Practice Questions
Try these sample questions to test your III IC-92 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1Which pricing model is most appropriate for a participating life insurance product?
2In profit testing, what is the primary purpose of the risk discount rate?
3Which of the following is a key component of asset share calculations?
4What is the primary objective of reserving in life insurance?
5Which assumption has the greatest impact on the pricing of term life insurance?
6In margin analysis, what does a positive profit margin indicate?
7What is the formula for the net premium reserve?
8Which of the following describes 'valuation strain'?
9What role do 'model points' play in profit testing?
10Which expense type is typically allocated based on the number of policies in force?
About the III IC-92 Exam
The III IC-92 Actuarial Aspects of Product Development exam evaluates candidate understanding of key principles and practical concepts in Actuarial Aspects of Product Development. The syllabus encompasses various modules detailed below.
Assessment
100 objective multiple-choice questions in a single online paper. IC-92 is a 40-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 (40 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-92 Exam Content Outline
Charges
Practice questions focusing on charges concepts.
Guarantees
Practice questions focusing on guarantees concepts.
Health Insurance
Practice questions focusing on health insurance concepts.
Assumptions
Practice questions focusing on assumptions concepts.
Participating Policies
Practice questions focusing on participating policies concepts.
Unit Linked
Practice questions focusing on unit linked concepts.
Risk Discount Rate
Practice questions focusing on risk discount rate concepts.
Profit Margin
Practice questions focusing on profit margin concepts.
Anti Selection
Practice questions focusing on anti selection concepts.
Stochastic Modeling
Practice questions focusing on stochastic modeling concepts.
Morbidity
Practice questions focusing on morbidity concepts.
Surrender Values
Practice questions focusing on surrender values concepts.
Interest Rate
Practice questions focusing on interest rate concepts.
Reinsurance
Practice questions focusing on reinsurance concepts.
Annuities
Practice questions focusing on annuities concepts.
Asset Liability Matching
Practice questions focusing on asset liability matching concepts.
Inflation
Practice questions focusing on inflation concepts.
Reserves
Practice questions focusing on reserves concepts.
Mortality Tables
Practice questions focusing on mortality tables concepts.
Expenses
Practice questions focusing on expenses concepts.
Pricing Models
Practice questions focusing on pricing models concepts.
Asset Share Calculation
Practice questions focusing on asset share calculation concepts.
Reserving Objectives
Practice questions focusing on reserving objectives concepts.
Term Insurance
Practice questions focusing on term insurance concepts.
Pricing Assumptions
Practice questions focusing on pricing assumptions concepts.
Net Premium Reserve
Practice questions focusing on net premium reserve concepts.
Valuation Strain
Practice questions focusing on valuation strain concepts.
Model Points
Practice questions focusing on model points concepts.
Expense Allocation
Practice questions focusing on expense allocation concepts.
Unit Linked Products
Practice questions focusing on unit linked products concepts.
Lapse Risk
Practice questions focusing on lapse risk concepts.
Profitability
Practice questions focusing on profitability concepts.
Profit Signature
Practice questions focusing on profit signature concepts.
Underwriting
Practice questions focusing on underwriting concepts.
Valuation Methods
Practice questions focusing on valuation methods concepts.
Profitability Metrics
Practice questions focusing on profitability metrics concepts.
Sensitivity Testing
Practice questions focusing on sensitivity testing concepts.
Asset Share
Practice questions focusing on asset share concepts.
Premium Calculation
Practice questions focusing on premium calculation concepts.
Risk Management
Practice questions focusing on risk management concepts.
New Products
Practice questions focusing on new products concepts.
Cost Of Capital
Practice questions focusing on cost of capital concepts.
Regulatory Risk
Practice questions focusing on regulatory risk concepts.
Embedded Value
Practice questions focusing on embedded value concepts.
Competitive Pricing
Practice questions focusing on competitive pricing concepts.
Level Premium
Practice questions focusing on level premium concepts.
Persistency
Practice questions focusing on persistency concepts.
Appointed Actuary
Practice questions focusing on appointed actuary concepts.
Zillmerization
Practice questions focusing on zillmerization concepts.
Expense Classification
Practice questions focusing on expense classification concepts.
Longevity Risk
Practice questions focusing on longevity risk concepts.
Scenario Testing
Practice questions focusing on scenario testing concepts.
Non Participating
Practice questions focusing on non participating concepts.
Cash Flows
Practice questions focusing on cash flows concepts.
Reinstatement
Practice questions focusing on reinstatement concepts.
Solvency Margin
Practice questions focusing on solvency margin concepts.
Universal Life
Practice questions focusing on universal life concepts.
Decrements
Practice questions focusing on decrements concepts.
Joint Life
Practice questions focusing on joint life concepts.
Mortality
Practice questions focusing on mortality concepts.
Micro Insurance
Practice questions focusing on micro insurance concepts.
Dividends
Practice questions focusing on dividends concepts.
Valuation Interest Rate
Practice questions focusing on valuation interest rate concepts.
Risk Measures
Practice questions focusing on risk measures concepts.
Capital
Practice questions focusing on capital concepts.
Experience Studies
Practice questions focusing on experience studies concepts.
Pricing Techniques
Practice questions focusing on pricing techniques concepts.
Duration
Practice questions focusing on duration concepts.
Bonuses
Practice questions focusing on bonuses concepts.
Mortality Assumptions
Practice questions focusing on mortality assumptions concepts.
Long Term Care
Practice questions focusing on long term care concepts.
Overhead
Practice questions focusing on overhead concepts.
Lapse Supported
Practice questions focusing on lapse supported concepts.
Whole Life
Practice questions focusing on whole life concepts.
Market Research
Practice questions focusing on market research concepts.
Breakeven
Practice questions focusing on breakeven concepts.
Renewability
Practice questions focusing on renewability concepts.
Credit Risk
Practice questions focusing on credit risk concepts.
Value Of New Business
Practice questions focusing on value of new business concepts.
Taxation
Practice questions focusing on taxation concepts.
Endowment
Practice questions focusing on endowment concepts.
Catastrophe Risk
Practice questions focusing on catastrophe risk concepts.
Analysis Of Surplus
Practice questions focusing on analysis of surplus concepts.
Historical Products
Practice questions focusing on historical products concepts.
Tontine
Practice questions focusing on tontine concepts.
Statutory Reserves
Practice questions focusing on statutory reserves concepts.
Reversionary Bonus
Practice questions focusing on reversionary bonus concepts.
Lapse
Practice questions focusing on lapse concepts.
Investment Margin
Practice questions focusing on investment margin concepts.
Markov Chains
Practice questions focusing on markov chains concepts.
Multi State Models
Practice questions focusing on multi state models concepts.
Variable Annuities
Practice questions focusing on variable annuities concepts.
Gmdb
Practice questions focusing on gmdb concepts.
Expense Overrun
Practice questions focusing on expense overrun concepts.
Commissions
Practice questions focusing on commissions concepts.
Profitability Models
Practice questions focusing on profitability models concepts.
Disability Insurance
Practice questions focusing on disability insurance concepts.
New Business Strain
Practice questions focusing on new business strain concepts.
Profit Criterion
Practice questions focusing on profit criterion concepts.
Cohorts
Practice questions focusing on cohorts concepts.
Liquidity Risk
Practice questions focusing on liquidity risk concepts.
Modular Design
Practice questions focusing on modular design concepts.
Riders
Practice questions focusing on riders concepts.
Payback Period
Practice questions focusing on payback period concepts.
Competitiveness
Practice questions focusing on competitiveness concepts.
Product Development Cycle
Practice questions focusing on product development cycle concepts.
Bonus Loading
Practice questions focusing on bonus loading concepts.
Re Pricing
Practice questions focusing on re pricing concepts.
Vnb Margin
Practice questions focusing on vnb margin concepts.
Product Strategy
Practice questions focusing on product strategy concepts.
Cannibalization
Practice questions focusing on cannibalization concepts.
How to Pass the III IC-92 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-92 is a 40-credit paper under the Insurance Institute of India (III) professional credit system.
- Time limit: 2 hours
- Exam fee: INR 600 per subject (40 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-92 Study Tips from Top Performers
Frequently Asked Questions
How many questions are on the III IC-92 exam?
The III objective papers, including IC-92, consist of 100 multiple-choice questions completed in 2 hours online.
What is the IC-92 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-92 carry?
This paper (IC-92) carries 40 credit points under the Insurance Institute of India credit system.