Qualifying Examinations & CPD
How to enrol IIQE
 

A. Insurance Intermediaries Qualifying Examination for Insurance Brokers ("IIQE")
B. Syllabus & Study Notes
C. The System
D. Exemption from the IIQE
E. Permitted Lines of Business after passing the IIQE
F. Expiration of IIQE Passing Results


A. Insurance Intermediaries Qualifying Examination for Insurance Brokers ("IIQE") Top

Examination Paper Number of Questions Duration
Part I: Compulsory Examination Paper
Principles and Practice of Insurance (P&P Paper)		 75 2 Hours

Part II: Qualifying Examination Papers
(a) General Insurance (GI Paper)
(b) Long Term Insurance (LT Paper)
(c) Investment-linked Long Term Insurance (IL Paper) *
(Enhanced version with effect from 1 March 2010)

50 for each paper 1 Hour 15 Minutes
for each paper

B. Syllabus & Study Notes Top

1.
Both can be downloaded from the website of the Office of the Commissioner of Insurance at http://www.oci.gov.hk.

C. The System Top

1. Format: Multiple choice questions in Chinese and English
2. Passing Mark: 70%
3. Examination Body:
 
  1. Vocational Training Council ("VTC") – PEAK Examination Centre
  2. Hotline: 29191467, 29191468 and 2919147
  3. website: http://www.vtc.edu.hk/cpdc
4.
Refer to the examination handbooks published by the VTC for the details of the examination rules and regulations.

D. Exemption from the IIQE Top

1. Exemption from P&P Paper, GI Paper and LT Paper of the IIQE can be granted to:
 
1.1 Holders of an approved insurance qualification:
 
  1. Associate or Fellow of the Chartered Insurance Institute (ACII/FCII);
  2. Senior Associate or Fellow of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF (Snr Assoc)/ANZIIF (Fellow));
  3. Fellow of the Life Management Institute (FLMI);
  4. Chartered Life Underwriter (CLU);
  5. Chartered Property Casualty Underwriter (CPCU);
  6. Hong Kong Diploma in Insurance Studies of the Insurance Institute of Hong Kong;
1.2 Holders of an approved actuarial qualification:
 
  1. Fellow of the Institute of Actuaries of England (FIA);
  2. Fellow of the Faculty of Actuaries in Scotland (FFA);
  3. Fellow of the Institute of Actuaries of Australia (FIAA);
  4. Fellow of the Society of Actuaries of the United States of America (FSA).

2.
Exemption from the old or enhanced version of IL Paper of the IIQE could be granted to holders of any of the following recognized professional qualifications in insurance, investment or actuarial science:
 

  1. Chartered Life Underwriter (CLU) who has passed the elective paper: "HS 328 Investments" of the CLU qualifying examination;
  2. Chartered Financial Consultant (ChFC);
  3. Certified Financial Planner (CFP);
  4. Fellow of the Institute of Actuaries of England (FIA);
  5. Fellow of the Faculty of Actuaries in Scotland (FFA);
  6. Fellow of the Institute of Actuaries of Australia (FIAA);
  7. Fellow of the Society of Actuaries of the United States of America (FSA);
  8. person who has passed the Foundation Programme Examination of the Hong Kong Securities Institute (FPE);
  9. person who has passed the Diploma Programme Examination of the Hong Kong Securities Institute (DPE);
  10. HKSI Practising Certificate of the Hong Kong Securities Institute;
  11. HKSI Specialist Certificate of the Hong Kong Securities Institute;
  12. HKSI Professional Diploma in Financial Markets of the Hong Kong Securities Institute.

3.
Persons (confined to those who were already practising in the insurance intermediary business in Hong Kong immediately before 1 January 2000) who are holders of the Certificate of Proficiency in General Insurance Studies issued by The Hong Kong Federation of Insurers are exempted from P&P Paper and GI Paper of the IIQE.
4.
Persons (confined to those who were already practising in the insurance intermediary business in Hong Kong immediately before 1 January 2000) in possession of five years' proven experience in insurance business in Hong Kong within the six-year period immediately before 1 January 2000 are exempted from P&P Paper and the relevant paper(s) in GI and LT (which relates to the specific experience they have obtained) of the IIQE; exemption from all papers in P&P ,GI and LT of the IIQE is granted only if the insurance intermediaries possess the specified experience in both general and long term insurance business.
Notes:
 
Effective from 1 March 2010, insurance intermediaries wishing to be engaged in the Long term (including Linked Long Term) Insurance Intermediary Business shall be required to pass, among others, the enhanced version of the Investment-linked Long Term Insurance Examination Paper ("IL Paper"), unless otherwise exempted. Insurance Intermediaries who are registered as engaging in investment-linked long term insurance intermediary business ("serving practitioners") could continue engaging in the sale of such products within a two-year transitional period (1 March 2010 to 29 February 2012) provided that they could pass the enhanced IL Paper on or before 29 February 2012 in order to continue selling such products after 29 February 2012. As an alternative to passing the enhanced IL Paper, they may complete 20 extra CPD hours dedicated towards the additional modules of the enhanced IL Paper within the two-year transitional period.

"Serving Practitioner" means to include:
  1. Insurance intermediary who is registered as engaging in Investment-linked Long Term Insurance immediately before 1 March 2010; or
  2. An individual, who has passed the old version of the Investment-linked Long Term Insurance examination Paper:
    • Ceased to be engaged in insurance-related work in the insurance industry in Hong Kong for less than two consecutive years immediately before the date of his registration; or
    • But not engaged in insurance-related work in the insurance industry in Hong Kong, while the time between the dates of the old version examination and registration does not exceed two consecutive years; or
    • Engaged in insurance-related work in the insurance industry in Hong Kong but not registered for engaging in LI.

E. Permitted Lines of Business after passing the IIQE Top

1.
General insurance (for those who pass only the General Insurance Examination paper plus the Principles and Practice of Insurance Examination paper, or otherwise exempted)
2.
Long term (excluding linked long term) insurance (for those who pass only the Long Term Insurance Examination paper plus the Principles and Practice of Insurance Examination paper, or otherwise exempted)
3.
Long term (including linked long term) insurance (for those who pass both the Investment-linked Long Term Insurance Examination and Long Term Insurance Examination papers plus the Principles and Practice of Insurance Examination paper, or otherwise exempted)
4.
General insurance & Long Term (excluding linked long term) insurance (for those who pass the General Insurance and Long Term Insurance Examination papers plus the Principles and Practice of Insurance Examination paper, or otherwise exempted)
5.
General insurance & Long Term (including linked long term) insurance (for those who pass both Investment-linked Long Term Insurance Examination and Long Term Insurance Examination papers, the General Insurance Examination paper plus the Principles and Practice of Insurance Examination paper, or otherwise exempted)

F. Expiration of IIQE Passing Results Top

1.
Any person who has ceased to be engaged in insurance-related work in the insurance industry in Hong Kong for two consecutive years shall pass the relevant papers of the IIQE before he can be re-registered.
2.
Any person who has passed the IIQE for two consecutive years (counting from the date of the examination) during which he has not been engaged in insurance-related work in the insurance industry in Hong Kong, shall pass the relevant papers of the IIQE before he can be registered.
3.
holders of approved qualifications as listed above are exempted from the relevant examination requirements to which the approved qualifications relate.


 
 
 
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