How to Prepare for IRDAI Assistant Manager Exam

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, aspirants now need a structured preparation strategy to excel in the exam. Here’s a detailed guide on how to effectively prepare 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 sought-after in India due to its attractive salary package, prompting candidates to prepare diligently for this competitive opportunity. Preparing for the IRDAI Assistant Manager Exam requires a focused approach, especially considering the competitive nature of the exam. A well-rounded preparation strategy covering all sections, including Reasoning, English, General Awareness, Quantitative Aptitude, and Insurance-related subjects, is essential. Preparation tips can be divided into three categories Understanding the Exam Pattern and Syllabus, Section-Wise Preparation Strategy and General Tips for the IRDAI Assistant Manager Exam

Understanding the Exam Pattern and Syllabus of IRDAI Assistant Manager

The IRDAI Assistant Manager exam is conducted in three phases i.e. Phase I, Phase II & Interview. Candidates must prepare according to the specified IRDAI Assistant Manager Syllabus 2024. The exam pattern is as follows

Phase I: (Preliminary Exam)

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 it a total of 160 marks. Candidates need to clear the cut-off in each section to qualify for Phase 2.

Phase 2: (Mains Exam)

The mains exam consists of Descriptive questions divided into three papers, listed below:

• Paper I: English (100 marks) (60 minutes)
• Paper II: Economic and Social Issues Impacting Insurance (100 marks) (60 minutes)
• Paper III: Insurance and Management (100 marks) (60 minutes)

Phase III: Interview

Candidates who clear Phase II will be shortlisted for an interview, where they will be assessed on their overall suitability for the Assistant Manager position.

Section-Wise Preparation Strategy for IRDAI Assistant Manager

Preparing for the IRDAI Assistant Manager Exam requires a focused approach, especially with the descriptive papers in Phase II. With a comprehensive preparation strategy that covers all sections, including Reasoning, English, General Awareness, Quantitative Aptitude, and specialized subjects like Economic and Social Issues and Insurance Management, candidates can effectively maximize their chances of success.

Phase I: Preliminary Exam

1. Reasoning:

Topics to Focus: 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 patterns.

2. English Language:

Topics to Focus: 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 spotting and sentence correction.
• Work on your vocabulary by learning new words daily and revising them regularly.

3. Quantitative Aptitude:

Topics to Focus: Data Interpretation, Simplification, Number Series, Profit and Loss, Time and Work, Probability, Speed and Distance.

Preparation Tips:

• Brush up on your basic math skills, particularly formulas and short tricks for calculations.
• Practice Data Interpretation questions as they carry a significant weight in bank and insurance exams.
• Focus on accuracy, and aim to solve questions within the least possible time.

4. General Awareness:

Topics to Focus: Current Affairs, Static General Knowledge, Banking and Insurance Awareness.

Preparation Tips:

• Regularly read newspapers like The Hindu or The Indian Express and follow monthly general knowledge magazines.
• Focus on insurance-related news and IRDAI’s role in regulating the sector.
• Refer to current affairs capsules and take daily quizzes to stay updated.

Phase II: Mains Exam

Paper I: English

Topics to Focus: Essay writing, Precis, and Comprehension.

Preparation Tips:

• Practice writing essays on current topics, especially those related to economic and social issues.
• Work on precis writing to ensure clarity and brevity.
• For comprehension, focus on understanding the passage quickly and answering accurately.

Paper II: Economic and Social Issues

Topics to Focus: 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 government policies and schemes related to the insurance sector, as these are often asked in the exam.
• Revise the basic concepts of economics and social issues affecting India.

Paper III: Insurance and Management

Topics to Focus: Principles of Insurance, Types of Insurance, Risk Management, Role of IRDAI, Management Theories, Organizational Behaviour.

Preparation Tips:

• Refer to IRDAI’s official website for updates on policies and regulations.
• Study from books on insurance and management principles to understand the subject deeply.
• Revise the 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 to each section based on your strengths and weaknesses.
• Ensure that you dedicate sufficient 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 your time management skills.
• Analyze your performance after every test and focus on improving weak areas.

3. Previous Year Question Papers:

• Solve previous years’ question papers to get a clear idea of the types of questions asked in the exam.
• This will also help you gauge the difficulty level and improve your confidence in tackling different sections.

4. Revision:

• Allocate the last few days before the exam for revision only. Revise all important topics, formulas, and concepts.
• Avoid starting any new topic close to the exam date, as it may lead to confusion.

5. Stay Updated with Current Affairs:

• Since General Awareness and Insurance-related topics are crucial, make sure to stay updated with the latest news, especially those impacting the insurance sector.