IRDAI AM 2023 – General Awareness Strategy

Applications are flooding the Insurance Regulatory and Development Authority of India (IRDAI) website for the IRDAI Assistant Manager Exam 2023. Given the difficulty level of the IRDAI Assistant Manager Exam, it would be quite an understatement to say that candidates are bracing up for the exam. When it comes to the IRDAI AM Exam, it’s not a piece of cake. Candidates are literally running themselves to the ground for at least the past 6 months, if not more. For the preparation of English preparation refer to our post IRDAI Assistant Manager 2023 – English Strategy. In this post, I am covering the preparation strategy for the General Awareness section. 

IRDAI AM Syllabus & Exam Pattern

Before we move forward with the General Awareness preparation for IRDAI AM let us have a sneak peek at the syllabus:

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IRDAI Assistant Manager Phase I Exam Pattern 2023

S. No.	Name of Test	No of Questions	Maximum Marks	Total Time
1.	Test of Reasoning	40	40	90 minutes
2.	Test of English Language	40	40
3.	Test of General Awareness	40	40
4.	Test of Quantitative Aptitude	40	40
Total	160	160	90 Minutes

Phase II

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IRDAI Assistant Manager Phase II Exam Pattern 2023

Name of Paper	Max. Marks	Time (Minutes)
Paper-I: English	100	60
Paper II: Economic and Social Issues Impacting Insurance	100	60
Paper-III: Insurance and Management	100	60

As we can see, General Awareness is only part of the first phase of the exam. Apart from that, there’s no specific syllabus for general awareness.  However, as a regulatory body that takes care of the insurance sector in India, it is important to have a basic understanding of the Indian insurance industry. The syllabus is incredibly vast. Having said that General Awareness Topics mostly revolve around:

• Insurance – Every aspect of it.
• Market & Finance
• Government Policies regarding Insurance, Market & Finance

General Awareness Topics for IRDAI AM

Some of the most common topics for IRDAI AM General Awareness are:

• Introduction to the Indian insurance industry
• History and Evolution of Insurance in India
• Types of insurance products (life, health, motor, etc.)
• Insurance market structure and players
• Role and functions of IRDAI
• Insurance regulations and guidelines
• Insurance policies and procedures
• Consumer protection and grievance redressal mechanisms
• Current developments and trends in the insurance industry
• Global insurance market Trends Practices

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It is important to note that the syllabus may vary depending on the level and purpose of the exam or selection process. From the above details, we can make out that for IRDAI AM Prelims a candidate must have a thorough understanding of the Indian Insurance Industry, government policies regarding insurance and everything related to it.

General Awareness Strategy for IRDAI Assistant Manager

• Go through the previous year’s exam papers. It will help you get a general idea of the topics asked in the exams and the pattern of the questions.
• Make a study plan, schedule all the subjects and topics and allocate time for each activity you are going to undertake.
• Read newspapers and magazines. Predominantly focus on business & finance news
• Dig into famous books related to Business & Finance
• Watch Finance News
• Jot down all the important details regarding Business & Finance you come across.
• Join online forums regarding business, finance and Insurance
• Practice, practice, practice. Practice makes a man perfect. Revise, and rigorously practice Mock Tests. Remember follow-up is more important than merely making a study plan

Takeaways

The difficulty level of the IRDAI Assistant Manager General Awareness Exam is hard. However, with proper planning, determination, and perseverance nothing is impossible. Above and beyond, we are always here with you to guide you and help you with your preparation. Try our Mock Tests carefully designed for IRDAI Assistant Manager.  What’s more, the first Mock Test is completely FREE. Go explore our courses, free quizzes, etc., and find what best suits your needs. Happy Prepping!