The IRDAI Assistant Manager exam is a highly competitive exam conducted by the Insurance Regulatory and Development Authority of India (IRDAI) to recruit Assistant Managers. With the application process complete, candidates now need a structured preparation strategy to excel in the exam. Here is a detailed guide on how to prepare effectively for the IRDAI Assistant Manager exam, focusing on both Phase 1 and Phase 2.
How to prepare for IRDAI Assistant Manager Exam
IRDAI Assistant Manager is highly in demand in India due to its attractive salary package, which motivates candidates to prepare diligently for this competitive opportunity. IRDAI Assistant Manager exam preparation requires a focused approach, especially considering the competitive nature of the exam. A well-crafted strategy covering all sections including Reasoning, English, General Awareness, Quantitative Aptitude and Insurance-related topics is essential. Preparation tips can be divided into three categories: understanding the exam pattern and syllabus, section-wise preparation strategy and general tips for IRDAI Assistant Manager exam
Understanding the Exam Pattern & Syllabus of IRDAI Assistant Manager
IRDAI Assistant Manager exam is conducted in three stages i.e. Phase I, Phase II and Interview. Candidates must prepare as per the specified IRDAI Assistant Manager Syllabus 2024. The exam pattern is as follows
Phase I: (Preliminary Examination)
The preliminary exam consists of multiple choice questions (MCQs), divided into the following sections:
- Reasoning (40 marks)
- English Language (40 Marks)
- General Awareness (40 Marks)
- Quantitative Aptitude (40 Marks)
Each section carries 40 marks, making a total of 160 marks. Candidates must cross the cut-off in each section to qualify for Stage 2.
Stage 2: (Main Exam)
The main exam consists of descriptive questions, divided into three papers, which are listed below:
- Paper I: English (100 marks) (60 minutes)
- Paper II: Economic and Social Issues Affecting Insurance (100 Marks) (60 Minutes)
- Paper III: Insurance and Management (100 Marks) (60 Minutes)
Step III: Interview
Candidates who qualify Stage II will be selected for interview where their overall suitability for the post of Assistant Manager will be assessed.
Section-wise Preparation Strategy for IRDAI Assistant Manager
Preparing for the IRDAI Assistant Manager exam requires a focused approach, especially with the descriptive paper in Phase II. With a comprehensive preparation strategy that covers all sections including Reasoning, English, General Awareness, Quantitative Aptitude, and specialized topics like Economic and Social Issues and Insurance Management, candidates can effectively maximize their chances of success.
Phase I: Preliminary Examination
1. Logic:
Topics to note: Puzzles, Seating Arrangement, Syllogism, Blood Relations, Coding-Decoding, Input-Output and Data Sufficiency.
Preparation Tips:
- Practice solving puzzles and seating arrangement questions daily.
- Focus on speed and accuracy as reasoning can be time consuming.
- Solve previous years question papers and attempt mock tests to understand the question pattern.
2. English language:
Topics to focus on: Reading Comprehension, Cloze Test, Sentence Rearrangement, Error Spotting, Fillers, Vocabulary and Grammar.
Preparation Tips:
- Read newspapers and magazines to enhance your comprehension skills.
- Practice grammar based questions like error finding and sentence correction.
- Work on your vocabulary by learning new words every day and repeating them regularly.
3. Quantitative Aptitude:
Topics to Focus on: Data Interpretation, Simplification, Number Series, Profit and Loss, Time and Work, Probability, Speed ​​and Distance.
Preparation Tips:
- Improve your basic math skills, especially formulas and little tricks for calculations.
- Practice Data Interpretation questions as these hold vital weightage in Bank and Insurance exams.
- Focus on accuracy and aim to solve the questions in the least time possible.
4. General Awareness:
Topics to focus on: Current Affairs, Static General Knowledge, Banking & Insurance Awareness.
Preparation Tips:
- Read newspapers like The Hindu or The Indian Express regularly and read monthly general knowledge magazines.
- Focus on insurance-related news and the role of IRDAI in regulating the sector.
- Check current affairs capsules and take daily quizzes to stay updated.
Stage II: Main Examination
Paper I: English
Focus areas: Essay writing, summary and comprehension.
Preparation Tips:
- Practise writing essays on current topics, especially those related to economic and social issues.
- Work on summarizing your writing to ensure clarity and conciseness.
- For comprehension, focus on understanding the passage quickly and answering accurately.
Paper II: Economic and Social Issues
Topics covered: Indian economy, social issues, government schemes, inflation, monetary policies, poverty and economic reforms.
Preparation Tips:
- Read textbooks on Indian Economy (Ramesh Singh) and keep track of current economic developments.
- Study the government policies and schemes related to the insurance sector as these are frequently asked in the exam.
- Revise the basic concepts of economics and social issues affecting India.
Paper III: Insurance and Management
Topics covered: Principles of Insurance, Types of Insurance, Risk Management, Role of IRDAI, Management Principles, Organisational Behaviour.
Preparation Tips:
- Visit the official website of IRDAI for updated information on policies and regulations.
- Study books on insurance and management principles to understand the subject in-depth.
- Revise key aspects of insurance laws and the functioning of the insurance industry.
General Tips for IRDAI Assistant Manager Exam
1. Time management:
- Create a study timetable and allocate time for each section based on your strengths and weaknesses.
- Make sure you devote enough time to revision in the last few days before the exam.
2. Practice Mock Tests:
- Attempt regular mock tests for both Phase 1 and Phase 2 to assess your preparation.
- Mock tests will help you understand the exam pattern and improve time management skills.
- Analyze your performance after each exam and focus on improving the weak areas.
3. Previous Year Question Papers:
- Solve previous years question papers to get a clear idea of ​​the type of questions asked in the exam.
- This will help you estimate the difficulty level and also increase your confidence in solving different sections.
4. Amendments:
- Take out a few days before the exam only for revision. Revise all the important topics, formulas and concepts.
- Avoid starting any new topic close to the exam date as it may create confusion.
5. Stay updated with current events:
- Since general awareness and insurance-related topics are important, make sure to stay updated with the latest news, especially those impacting the insurance sector.
