Preparation Strategies for Insurance and Financial Market Awareness in the LIC AAO 2021 Exam
To excel in the insurance and financial market awareness section of the LIC AAO Assistant Administrative Officer (AAO) exam, it is crucial to equip yourself with comprehensive resources and strategies. This article provides a detailed guide on the best resources to help you prepare effectively.
Books
Investing in the right books can significantly enhance your understanding of insurance and financial markets. Two highly recommended books are:
A Comprehensive Guide to Insurance: This book covers various aspects of the insurance industry, providing in-depth insights into policies, regulations, and the operational framework. An Insights into Financial Market Functioning: This book offers a detailed analysis of how financial markets operate, the role of different institutions, and the key players in the market.Online Resources
The internet offers a vast array of resources for exam preparation. Here are some recommended online sources:
Official Websites
IRDAI (Insurance Regulatory and Development Authority of India): This website is a treasure trove of information on insurance regulations and guidelines. Regular updates are available, making it a must-visit for preparing for the exam. SEBI (Securities and Exchange Board of India): SEBI provides valuable information about the securities market, investor education, and market regulations. It is an excellent source for understanding financial market dynamics.Educational Platforms
YouTube Channels: Many educators offer free tutorials and current affairs updates specifically tailored for banking and insurance exams. Subscribing to relevant channels can provide you with a wealth of information and guidance. Online Courses: Websites like Udemy or Coursera have specific courses on financial markets and insurance. These courses offer structured learning and can be particularly beneficial for beginners.Current Affairs
Staying informed about current affairs is crucial for the insurance and financial market awareness section of the exam. Here are some recommended sources:
Newspapers
The Economic Times: This is one of the leading financial newspapers in India. It provides comprehensive coverage of market trends, regulatory changes, and industry news. Business Standard: Another reputable financial newspaper that covers market analysis, company profiles, and regulatory updates.Monthly Magazines
Pratiyogita Darpan: A popular magazine for competitive exams, it includes sections on current affairs relevant to banking and insurance. Competition Success Review: This magazine offers detailed coverage of exam patterns, trends, and regulatory changes, making it highly useful for preparation.Practice Papers and Mock Tests
Practicing with previous year papers and taking mock tests is essential to familiarize yourself with the exam pattern:
Previous Year Papers: Analyzing past LIC AAO question papers will help you understand the types of questions asked and the expected format. Mock Tests: Websites like Testbook or Oliveboard offer mock tests specifically designed for LIC AAO preparation. These tests are invaluable for assessing your knowledge and improving your performance.Additional Tips
Along with these resources, consider the following tips:
Join Study Groups: Engaging with peers can provide diverse perspectives and insights, making the learning process more effective. Follow Financial News: Stay updated on financial news through apps like Moneycontrol or Bloomberg. This will help you keep track of market trends and regulatory changes.By combining these resources and tips, you can build a solid foundation in insurance and financial market awareness for your LIC AAO exam preparation. Happy studying!