Credit Point System
CPS gives

Wider Choice of Subjects to Insurance
Professionals

Flexibility to choose level of examination

Meets industry requirement


Effective from May 2012 Examinations
Subjects allotted Credit Points
On the basis of :
 Difficulty level
 Level of Examination
Minimum credit points required
CPs
a)
b)
c)
Licentiate Crtificate
Associateship
Fellowship
60
250
490
(60 + 190)
(60 + 190 + 240)

On passing the subject

On getting exemption for the subject

Subject already passed before CPS came into
effect.

Licentiate
1. Principles of Insurance
&
2. Practice of Life insurance
or
Practice of General Insurance
Associateship
(Compulsory subjects of Licentiate and)
1.
2.
Life Insurance Underwriting
or
General Insurance Underwriting
Life Insurance Finance
or
General Insurance Accounts preparation
& Regulation of Investment.
(Total four subjects)
Fellowship
(Compulsory subjects of Associateship and )
Any one of the following subjects :
1. Foundation of Actuarial Science
2. Foundation of Casualty Actuarial Science (1)
3. Mathematical Basis of Life Assurance
4. Foundation of Casualty Actuarial Science (2)
5. Actuarial aspects of Product Development
(Total five subjects)
Sub 28
Sub 47 A-1
Sub 81
Sub 84 A-2
Sub 92
Accumulated Credit Points will be valid for 5
years from passing the subject.
 If exempted, 5 years will be counted from the
date of passing the qualifying examination.
 If subject passed before CPS came into effect
5 years from the effective date(1st April 2012).
 Candidates granted exemption and already
registered with III will get validity of CPs for 5 yrs
from effective date.




The validity period of CPs will be extended by 2
years after the candidate passes Associate
Examination.
Candidate completed Associateship will get
consolidated CPs 250. These CPs will not lapse.
Associate members will be eligible for Fellowship
any time they accumulate additional 240 CPs.
(250 CPs of Associates fixed)



CPs will be allotted only for the subjects available
in the III’s list of subjects.
CPs for a subject will be allotted only once during
the entire CPs validity period.
After lapse of CPs, the candidate may pass the
subject again if available in the list and get
credit.
continued ……..

There is no restriction on selection of subject
from any branch or any level of examination




Candidate having acquired sufficient CPs will not be
granted Licentiate Certificate unless both the
Compulsory Subjects(CS) are passed.
Similarly for Associateship, Diploma will be granted
after passing of two CS of Licentiate level and two CS
of Associateship.
For Fellowship diploma Licentiate and Associate level
CS and one of five Fellow level (actuarial subjects ) are
compulsory.
CPs of common subjects will be valid across the
Examinations. ( Specialization )

First Registration fee
Valid for all optional subjects and
 Compulsory subjects of Licentiate
Registration in lieu of diploma fee to be paid for
 Compulsory subject of Associateship
Registration in lieu of diploma fee to be paid for
 Compulsory subject of Fellowship
Subject Code & Title
(12)
(21)
(25)
(51)
(52)
(54)
(55)
(61)
(62)
(63)
(65)
(73)
(79)
(87)
(97)
(98)
Credit points
Insurance Business environment
Information Technology
Life Assurance Management
Fire Hazards of Specific Industries
General Fire Hazards
Fire Insurance Underwriting
Consequential Loss (Fire ) Insurance
Cargo Loss Prevention
Commercial Geography
Marine Clauses
Marine Underwriting
Personal Accident , Sickness and Miscellaneous Insurance
Liability and Engineering Insurance
Law and Economics of Insurance
Legal Aspects of Industrial Relations
Advanced Information Technology
20
20
30
30
30
30
30
30
30
30
30
30
30
30
30
30
Subject Code & Title
(01) Principles of Insurance
(02) Practice of Life Insurance
(11) Practice of General Insurance
(14) Regulations of Insurance Business
(31) Insurance Salesmanship
(22) Life Assurance Underwriting
(23) Applications of Life Assurance
(24) Legal Aspects of Life Assurance
(26) Life Assurance finance
(27) Health Insurance
(28) Foundation of Actuarial Science
(45) General Insurance Underwriting
(46) General Insurance Accounts preparation
and Regulation of Investment
(A-1/47) Foundation of Casualty Actuarial Science
Part-I (Non-Life)
Credit points
20
20
20
20
20
30
30
30
30
30
40
30
30
40
Subject Code & Title
(56) Fire Insurance Claims
(57) Fire and Consequential Loss Insurance
(58) Fire Insurance Coverages
(59) Fire Insurance Rating and Underwriting
(66) Marine Insurance Claims
(67) Marine Insurance
(68) Marine Insurance Coverages
(69) Marine Insurance Rating and Underwriting
(71) Agricultural Insurance
(72) Motor Insurance
Credit points
30
30
30
30
30
30
30
30
30
30
Subject Code & Title
Credit points
(74) Liability Insurance
30
(77) Engineering Insurance
30
(78) Miscellaneous Insurance
30
(81) Mathematical Basis of Life Assurance
40
(82) Statistics
40
(83) Group Insurance & Retirement Benefit Schemes
30
(84/A-2) Foundation of Casualty Actuarial Science Part-II (Non-Life)
40
(85) Reinsurance Management
40
(86) Risk Management
40
(88) Marketing and Public Relations
30
(89) Management Accounting
40
(90) Human Resource Management
30
(92) Actuarial Aspects of Product Development
40
(99) Asset Management
30
(A-03) Basic Ratemaking
40
(A-04) Estimating Unpaid claim using basic techniques
40
Thank You
-Professional Exams
Team