1. Exam Conducting Body

• Life Insurance Corporation of India (LIC) – the largest public sector life insurer in India.

2. Purpose

• To recruit Actuarial Apprentices who will work with LIC’s actuarial department on:

  • Policy pricing & reserves calculation

  • Risk assessment & forecasting

  • Data analysis and reporting

  • Supporting the design of insurance products

3. Eligibility Criteria

Educational Qualification

• Graduation from a recognized university (disciplines like Mathematics, Statistics, Actuarial Science, Engineering, Economics, or Commerce preferred).

• Must have passed at least 1–2 actuarial papers from the Institute of Actuaries of India (IAI).

Age Limit

• 21–30 years (relaxations for SC/ST/OBC as per govt. norms).

Other Requirements

• Strong mathematical aptitude, problem-solving skills, and proficiency in Excel/statistical tools.

4. Selection Process

1. Written Examination

   • Mode: Mostly offline (pen & paper) or online depending on recruitment year.

   • Question Types: Objective (MCQ) + Problem-Solving questions.

   • Sections usually include:

     • Mathematics & Statistics (Probability, Distributions, Calculus, Linear Algebra)

     • Financial Mathematics (Interest theory, annuities, bonds, cash flow models)

     • Insurance & Risk Principles

     • Logical/Analytical Reasoning

     • Data Interpretation

2. Interview – To assess technical understanding, communication skills, and suitability for the actuarial role.

3. Medical Examination – To ensure health standards required by LIC.

5. Exam Pattern (Typical)

• Duration: 90–120 minutes

• Negative Marking: Often not applied, but may vary by year.

6. Nature of Appointment

• Apprenticeship period: Generally 12–18 months.

• Stipend paid during apprenticeship.

• Not a permanent officer role, but successful performance can open doors to full-time actuarial or officer positions in LIC.