Life Insurance Corporation of India (LIC) invites online applications from eligible Indian Citizens for appointment to the post of Assistant Administrative Officer (AAO) Specialist. Here we are sharing the Important information about the latest notification about Number of vacancies, Exam pattern and Syllabus for LIC AAO (CA) Exam according to the latest pattern. This syllabus isn't official, we have framed this syllabus based on the latest exam trends and previous year's papers.
Educational Qualification
|
Position |
Essential Academic Qualification |
|---|---|
|
AAO (Chartered Accountant) |
Bachelor’s Degree from a recognized Indian University/Institution and Candidates should have passed Final Examination of Institute of Chartered Accountant and completion of Articles as presented by Institute of Chartered Accountant. The candidate should be Associate member of Institute of Chartered Accountants of India. Candidates should provide their membership number and the same will be verified with Institute of Chartered Accountants of India. |
Age Criteria
|
Position |
Age as on 01.02.2020 |
|
|---|---|---|
|
Minimum age |
Maximum age |
|
|
AAO (CA) |
21 |
30 |
Note: Candidates must have been born not earlier than 02.02.1990 and not later than 01.02.1999 both days inclusive only are eligible.
Probation
- A candidate after appointment shall be on probation for a period of one year from the date of joining. This period may be extended upto two years.
Guarantee Bond
- Before joining as a Probationer, candidates will be required to give the undertaking to serve LIC for a minimum period of four years from the date of joining (including the probationary period) failing which, he/she or his /her heirs, executors, administrators will be liable to pay liquidated damages of Rs.5,00,000/-only (Rupees Five Lakhs only) + GST or the sum of amount the Executive Director (Personnel) may prescribe from time to time.
Application fees/ Intimation charges (Non-refundable)
|
Category |
Amount of Fees / Intimation Charges |
|---|---|
|
SC/ST/ PwBD candidates |
Intimation Charges of Rs. 85/- +Transaction Charges + GST |
|
All Others |
Application Fee-cum-Intimation Charges of Rs. 700/- + Transaction Charges + GST |
Exam Pattern
Phase-I: Preliminary Examination
|
Name of the tests |
No. of Questions |
Maximum Marks |
Minimum Qualifying Marks |
Duration |
|
|---|---|---|---|---|---|
|
SC/ ST/ PwBD |
Others |
||||
|
Reasoning Ability |
35 |
35 |
16 |
18 |
20 minutes |
|
English Language with special emphasis on grammar, vocabulary and comprehension |
30 |
30** |
9 |
10 |
20 minutes |
|
Quantitative Aptitude |
35 |
35 |
16 |
18 |
20 minutes |
|
Total |
100 |
70 |
|
|
1 hour |
Phase-II: Main Examination
|
Name of the tests |
No. of Questions |
Maximum Marks |
Minimum Qualifying Marks |
Duration |
|
|---|---|---|---|---|---|
|
SC/ST/PwBD |
Others |
||||
|
Reasoning Ability |
30 |
90 |
40 |
45 |
40 minutes |
|
General Knowledge, Current Affairs |
30 |
60 |
27 |
30 |
20 minutes |
|
Professional knowledge |
30 |
90 |
40 |
45 |
40 minutes |
|
Insurance and Financial Market Awareness |
30 |
60 |
27 |
30 |
20 minutes |
|
English Language (Letter Writing & Essay) |
2 |
25** |
9 |
10 |
30 minutes |
Syllabus for Preliminary Examination
Quantitative Aptitude
- Data Interpretation
- Data Sufficiency
- Number Series
- Time and Work
- Time and Distance
- Simple and Compound Interest
- Ratio and Proportion
- Averages
- Mixture and Allegation
- Pipes and Cisterns
- Problems based on trains
- Percentages
- Partnership
- Clocks
- Permutation and Combinations
- Probability
- Profit, Loss and Discount
- Elements of Algebra
- Quadratic Equations
Reasoning Ability
- Coding & Decoding
- Syllogism
- Machine Input Output
- Puzzles
- Seating Arrangements
- Direction Sense Test
- Blood Relations
- Problems based on Ages
- Ranking and Order
- Data Sufficiency
- Statement and Conclusions
- Statement and Assumptions
- Statement and Arguments
- Logical Reasoning
- Alphanumeric series
- Inequalities
- Tabulation
- Analogy and classification
- Clocks and Calendar
- Non- Verbal Reasoning
English Language
- Reading Comprehensions
- Para Jumbles
- Para Completion
- Vocabulary
- Error Spotting
- Sentence Improvement
- Cloze test
- Rearrangement of sentences
Syllabus for Mains Examination
Reasoning Ability
- Coding & Decoding
- Syllogism
- Machine Input Output
- Puzzles
- Seating Arrangements
- Direction Sense Test
- Blood Relations
- Problems based on Ages
- Ranking and Order
- Data Sufficiency
- Statement and Conclusions
- Statement and Assumptions
- Statement and Arguments
- Logical Reasoning
- Alphanumeric series
- Inequalities
- Tabulation
- Analogy and classification
- Clocks and Calendar
- Non- Verbal Reasoning
General Knowledge
- Current affairs
- Economic News
- Banking Awareness
- Sports
- Awards and Honors
- Books and Authors
- Government Schemes and Programmes
- Economic survey
- Union budget
- Appointments & Resigns
- Awards & Honours
- Committees
- Index & Ranking
- Military Exercise
- Science and Technology
- Summits and Conferences
Professional Knowledge
1. Working Capital Management- Introduction
- Need for working capital
- Cash cycle
- Management strategies for working capital
- Liquidity ratio
- Turnover ratio
- Profitability ratio
- Solvency ratio
- The Future Value of a Single Cash Flow
- The Future Value of a Series of Cash Flows
- The Present Value of a Single Cash Flow
- The Present Value of a Series of Cash Flows
- Discounted Payback Period
- Payback Period
- Internal Rate of Return (IRR)
- Average Accounting Rate of Return (ARR)
- Net Present Value
- Profitability Index (PI)
- Investment Decision Criteria
- Role of Reserve Bank of India (RBI) in forex management.
- Latest RBI circulars
- Concept of Risk
- Risk Management Process
- Determination of Business Objectives
- Identification of Risks
- Measurement of Risk
- Types of risks
- Derivatives: Forwards, Futures, Swaps and Options
- Basics of Derivative Pricing and Valuation
- Forwards and Futures Valuation
- Forward Rate Agreements and Swap Valuation
- Working Capital Concepts
- Working Capital Issues
- Working Capital Cycle
- Aggressive and Conservative Approach
- Sources of Short-Term Financing
- Considerations of Issuers and Investors
- Sources of Long-term Finance
- Merits and Demerits of:
- Retained Earnings
- Equity Capital
- Preference Capital
- Debenture Capital
- Term Loans
- Money Market
- Money Market Instruments
- Coupon Bearing Instruments
- Discount Instruments
- Risks involved in Money Market
- Capital Markets
- Process, types of securities and parties involved
- Types of bonds
- Bond valuations
- Debt and Equity
- Portfolio Risk and Return
- Capital Allocation
- Optimal Portfolio
- Modern Portfolio Theory
- Performance Measurement
- Concept of Yield Curve and its Types
- Yield to Maturity concept
- Types of Interest Rates and their Computation
- Yield Interpolation
13. Duration
- Concept of Duration and Modified Duration
- Macaulay duration
- Effective duration
- Computation of Duration for different types of bonds
- Relationship between duration, yield, coupon and maturity
- Duration of a Portfolio
- Concept of Convexity and its Properties
- Convexity of a Portfolio
- Impact of the price change on convexity
- Positive and Negative Convexity
- Interest Rate Options
- Over-the-Counter Options, Calls and Puts on LIBOR Caps, Floors and Collars
16. Interest Rate Swaps
- Interest Rate Swaps
- Basic Structure
- Price Quoting Conventions
- Pricing & Valuing Interest Rate Swaps
- Variants of Interest Rate Swap
- Swaption
17. Financial Awareness
- Latest circulars of RBI and SEBI
- Indian Financial System
- Financial market instruments
- International reports and indices
- Latest government schemes
- Important committees
- Foreign investment and trade
- Growth numbers by various organization
- Union budget
- Latest mergers and MOUs of banks and financial institutions
- Heads of various financial organizations
- Mutual Funds
- Basel Norms
- Regulatory organizations: SEBI/NABARD/RBI
Insurance and Financial Market Awareness
Insurance Awareness
- Insurance – history and types
- Principles of insurance
- Government schemes related to insurance
- Legal principles of an insurance contract
- IRDA – powers and functions
- Grievance redressal mechanism
- Documentation
- Claims procedure
- Insurance Terms
- Underwriting
Financial Awareness
- Financial markets
- Banking awareness
- Derivatives
- Stock exchanges
- Mutual funds
- Depositories
- Regulatory organizations
- International financial organizations
- Interim budget
- RBI, SEBI and IRDA’s important circulars
- Government schemes related to financial markets
- Tax provisions related to financial markets
Descriptive English Language
- Essay writing
- Letter writing
