IRDA Junior Officer Salary Packages. Preparation Tips for IRDA Junior Officer. Selection Procedure & Pattern for IRDA Junior Officer. Syllabus for Phase I and Phase II Descriptive Paper IRDA Junior Officer. Age & Education Eligibility for IRDA Junior Officer. IRDA Steps to Apply Now. IRDA Vacancies.
IRDA Junior Officer Recruitment Eligibility, Pattern, Salary, Syllabus and Preparation Tips irda.gov.in
With IRDA Phase I results and dates of IRDA Phase II out, its time to start IRDA Junior Officer Phase II Preparation Tips. Check IRDA Phase II preparation tips below.
IRDA Junior Officer Phase II Preparation Tips.
We will post daily preparation tips, tricks and templates for IRDA Phase II JO examination. Bookmark this page (press Ctrl+D) and get updated with latest information for Phase II.
IRDA Junior Officer Phase I Preparation Tips:
As part of IRDA JO preparation series we have published syllabus, tips tricks and expected cutoffs for all individual sections (quant, reasoning, english and GA) of Phase I.
IRDA Junior Officer Previous Year Question Papers
You can check other details of the Junior Officer post below:
IRDA Junior Officer Salary
- As a IRDA Junior Official you will receive a basic pay of Rs.17,100/- per month in the scale of Rs. 17,100 – 1000 (11) – 28,100 – EB- 1000 (4) – 32,100 -1100 (1) – 33,200 (17 years)
- Allowances: Dearness Allowance, House Rent Allowance, City Compensatory Allowance, Grade Allowance.
- At present, initial monthly gross emoluments for Junior Officer is approximately Rs. 74,351/- .
- The following qualification allowances, in addition to the above, are applicable to candidates selected for posts with professional qualifications:
|Qualification||Completion level||Qualification allowance per month|
|Actuarial||Nine papers of Institute of Actuaries||Rs.15,000/-|
- Reimbursement of expenses is allowed for telephone expenses, brief case, book grant, allowance for furnishing of residence, medical expenses including annual health checkup, Group medical insurance.
- Leave Travel Concession (once in two years for self, spouse and eligible dependents) and loans and advances at concessional rates of interest for Housing, Car, Education, Consumer Articles, Personal Computer and Festival advance, etc. are also allowed.
*IRDA Junior Officer Probation: On selection, the candidates will be placed on probation for a period of one year subject to any extension of such probation, the total period of probation shall be a maximum of two years from the date of joining the service.
IRDA Junior Officer Selection Procedure and Exam Pattern irda.gov.in
The selection process will consist of three phases:
- Phase I: On-line Examination: This is a qualifying examination to be eligible for Phase II
- Phase II: Descriptive Examination comprising 3 Papers (Paper I, II and III)
- Phase III — Interview
Final selection will be on the basis of candidate’s performance in Phase II examination and interview (combined score) taken together in order of merit. The weightage of Descriptive Examination and interview will be 85:15.
The On-line preliminary Examination (Phase I) will be for 160 marks with four Tests as under:
|Sr. No.||Name of Tests (Objective)||No of Questions||Maximum Marks||Total Time|
|1||Reasoning||40||40||Composite time of 100 minutes|
Negative Marking: There will be negative marks for wrong answers marked by the candidates. For every wrong answer marked by a candidate, 1/4 of the marks assigned to that question will be deducted as penalty.
Note 1: All tests, except test of English Language will be provided in English and Hindi. Test of English Language and Descriptive Paper will be only in English.
Click here to read IRDA Junior Officer Books to read, Syllabus, Preparation Tips and Expected Cutoffs.
Pattern of IRDA Junior Officer Phase II examination:
|Name of Paper||Type of Paper||Time (Minutes)||Marks|
|Paper- I : English||Descriptive (computer based, to be typed with the help of the keyboard)||90||100|
|Paper- II : Economic and Social Issues impacting Insurance||90||100|
|Paper- III : Insurance and Management||90||100|
IRDA Junior Officer Phase II Syllabus
(i) IRDA JO Paper I – English:
- a) Essay.
- b) Precis writing.
- c) Comprehension and Business/Office Correspondence.
(ii) IRDA JO Paper II – Economic and Social Issues impacting Insurance:
- a) Economic Growth, business cycles and Insurance penetration, impact of age structure on economy, application of utility theory to Insurance premium setting, macroeconomic factors including catastrophes and pandemics that may impact insurers and insurance markets.
- b) Financial markets, Financial Institutions and financial services integration and risks arising from interconnectedness. systemic risk and concentration risk.
- c) Economic capital and risk based capital requirements, economic impact of risk transfer arrangements including reinsurance, contribution of Insurance sector to sustainable and responsible development of economy, Insurance Investments in Infrastructure sector
- d) Economic reforms in India leading to Insurance sector reforms, Insurance regulation – financial and market conduct regulations, functions of IRDA, role of an Actuary, de-tariffing in India, motor business and Indian experience, changing Insurance Regulations/Laws and FSLRC.
- e) Social structure in India, Insurance in rural and social sectors and obligations of Insurers thereto, Indian Micro-Insurance experience, Social security laws and implementation thereof. RSBY – Health insurance scheme for Below Poverty Line (BPL) families.
(iii) IRDA JO Paper III – Insurance and Management:
Part 1- Insurance:
- a) History of Indian Insurance, principles of Insurance.
- b) Risk and uncertainty, pooling and diversification of risk, Indemnity and Insurable interest.
- c) Legal foundations of Insurance, basics in Group/Health Insurance/Pensions. Intermediation: role in mobilising savings, evolution of various types and Bancassurance in India.
- d) Functions performed by Insurers: Product design, pricing, distribution, underwriting, claims, Investment and Reinsurance.
- e) Insurance lines and products : Property-Liability, Life Insurance and Annuities and Health Insurance. Liability risks and Insurance, valuation and Solvency requirements, Specialist Insurance lines in India – Agricultural and Export Credit Guarantee. Reinsurance, GIC of India, obligator sessions and retention of risk within the Country.
Part 2 – Management:
- a) Its nature and scope.
- b) Management Processes – Planning, Organisation, Staffing, Directing and Controlling. role of a Manager in an Organisation.
- c) Leadership: The tasks of a leader. leadership styles. leadership theories. A successful leader versus an effective leader.
- d) Human Resource Development- Concept of HRD. Goals of HRD. Career Planning – Training and Development.
- e) Performance Appraisal – Potential appraisal and development – feedback and performance counselling –– rewards – employee welfare.
- f) Motivation, Morale and Incentives: Theories of Motivation. How Managers Motivate. Concept of Morale. Factors determining morale. Role of Incentives in Building up Morale.
- g) Communication: Steps in the Communication Process. Communication Channels. Oral versus Written Communication. Verbal versus non-verbal Communication. upward, downward and lateral communication. Barriers to Communication.
- h) Role of Information Technology.
- i) Corporate Governance: Factors affecting Corporate Governance. Mechanisms of Corporate Governance.
IRDA Junior Officer Age and Education Eligibility
- IRDA JO Age Eligibility.
Minimum age is 21 years and maximum age is 35 years. Age shall be reckoned as on 01-01-2016 i.e., candidates should not have been born earlier than 2-01-1981 and later than 01-01-1995 (both days inclusive).
Upper Age Relaxation
|Sr. No||Category||Relaxation in Age/maximum age|
|(i)||Scheduled Caste / Scheduled Tribe (SC/ ST)||By 5 years, i.e. up to a maximum of 40 years|
|(ii)||Other Backward Classes (OBC)||By 3 years, i.e. up to a maximum of 38 years|
|(iii)||Persons with Disabilities (PWD)||By 10 years (UR), 13 years (OBC) and 15 years (SC/ST)|
2. IRDA Junior Officer Education Qualification
|Sl. No.||Specialization||Qualification/s required|
|1||Actuarial||1. First Class Bachelor’s Degree (with a minimum of 60% marks or an equivalent grade, in aggregate of all semesters / years). and|
|2. Pass in Nine papers of Institute of Actuaries.|
|2||Accounting||1. First Class Bachelor’s Degree (with a minimum of 60% marks or an equivalent grade, in aggregate of all semesters / years). and|
|3||Legal||1. First Class Bachelor’s Degree (with a minimum of 60% marks or an equivalent grade, in aggregate of all semesters / years). and|
|2. LL.B with 60% marks|
|Five year Integrated LLB Course in First class with 60% marks or an equivalent grade, in aggregate of all semesters/years|
|4||General||First Class Bachelor’s Degree (with a minimum of 60% marks or an equivalent grade, in aggregate of all semesters / years)|
For Conversion of GPA to percentage refer to the following table:
|Equivalent GPA/OGPA/CPI or similar terminologies allotted on a 10 point scale||Class / Division||Aggregate Percentage of Marks|
IRDA Junior Officer Transfer Policy
The posting of the selected candidates can be in any of the Offices of IRDA and they are liable to be transferred from one Department/Office to another during any time in their career as per the Transfer/posting guidelines of the Authority.
IRDA Junior Officer Fee
|SC/ST/PWD/Ex-servicemen||Rs. 100/-||Intimation charges|
|Other than SC/ST/PWD/Ex-servicemen||Rs. 500/-||Examination fee and Intimation charges|
IRDA Junior Officer Procedure for applying on-line www.irda.gov.in
Click on the link below to go to official website and apply for IRDA JO.
(b) You should “Click here for New Registration” link to register their application by entering your basic information in the on-line application form. Note down the Provisional registration number and password as displayed on the screen for future reference.
(c) Prior to submission of the on-line application, you are advised to use the “SAVE AND NEXT” facility to verify the details in the on-line application form and modify the same, if required.
(d) You should fill in the details in the On-Line Application at the appropriate places very carefully and click on the “FINAL SUBMIT” button at the end of the On-Line Application format. Before pressing the “FINAL SUBMIT” button, you are strongly advised to carefully check every field filled in the application.
No change is permitted after clicking on FINAL SUBMIT Button.
(f) Validate your details and Save your application by clicking the ‘Validate your details’ and ‘Save &. Next’ button.
(g) You can proceed to upload Photo and Signature as per the specifications given.
(h) Candidates can proceed to fill other details of the Application Form.
(i) Click on the Preview Tab to preview and verify the entire application form before FINAL SUBMIT.
(j) Modify details, if required, and click on ‘FINAL SUBMIT’ ONLY after verifying and ensuring that the photograph, signature uploaded and other details filled by you are correct.
(k) Click on ‘Payment’ Tab and proceed for payment of fee/intimation charges.
(l) Click on ‘Submit’ button.
IRDA Junior Officer Vacancies
As per the official notification, IRDA is aiming to recruit 24 candidates from this exam. The distribution of vacancies is as stated below:
|Name of the Post||UR||SC||ST||OBC||Total|
Preparation Tips for IRDA Junior Officer examination.
- Start your preparation with reviewing the syllabus and the pattern.
- Quantitative and Reasoning section will be the deciding factor in Phase I. More and consistent practice will be needed for the above two sections.
- Before commencing your preparation, note down your strong and weak topics.
- Increase your reading speed (Click here for Speed Reading Tips )
- Solve Basic questions of strong topics.
- After getting a stronghold on concepts and basic questions, start learning shortcuts tricks.
- Memorize tables, squares, cubes and fractions for faster calculations.
- Move to complex questions (calculation intensive) and do not use a calculator.
- For General Awareness, Click here to read Tips to prepare General Awareness for Banking/Insurance exams.
- Read The Hindu/Economic Times daily for English Language Preparation.
- Give full length and sectional mock tests to understand paper pattern, time allocation and identify further your weak areas.
- After completing Mock Tests, see your attempt and focus on questions and topics with 90- 100% accuracy
- If you are taking more than 1 minute to solve questions with 100% accuracy, solve more questions and up your solving speed.
The above mock tests are prepared by experts and are based on the exact exam pattern of IRDA Junior Officer exam. Your descriptive paper will be checked by expert and you will be given recommendations and suggestions to improve your performance.
- Checkout previous year question papers and solve them. Give special attention to sectional cutoffs.
- If you find yourself lagging in any particular section, then focus on areas where you can increase your scores.
Remember you will be eligbile for phase II only after you clear Objective paper and score high enough in that. Practice is your key. The more you practice, the better your chances of selection.
For preparation of Descriptive Paper(Essay), we suggest you read the following:
Friends, this is it for IRDA Junior Officer examination. If you have any queries, please ask them in the comments section below and we will be glad to answer them for you. All the very best!