Insurance Intermediary Qualification Examination (IIQE) Exemptions

May 4, 2021

Type A & B of exempted applicants

According to Insurance Authority’s Insurance Intermediaries Quality Assurance Scheme (IIQAS), There are 5 types (A, B, C, D, E) of individuals who could be exempted from the IIQE requirement.

Type A individuals could be exempted from IIQE Paper 1 (Principles and Practice of Insurance), IIQE Paper 2 (General Insurance), IIQE Paper 3 (Long Term Insurance) and IIQE Paper  6 (Travel Insurance).

Type B individuals could be exempted from IIQE Paper 5 (Investment-linked Long Term Insurance)

Type C, D and E of exempted applicants

Type C individuals could be exempted from IIQE Paper 1 (Principles and Practice of Insurance), IIQE Paper 2 (General Insurance) and IIQE Paper  6 (Travel Insurance Agents Examination).

Type D individuals could be exempted from at most 4 examinations, including IIQE Paper 1 (Principles and Practice of Insurance), IIQE Paper 2 (General Insurance), IIQE Paper 3 (Long Term Insurance) and IIQE Paper  6 (Travel Insurance Agents Examination).

Type E individuals could be exempted from IIQE Paper  6 (Travel Insurance Agents Examination).

Type A exemption requirements

The following are exempted from IIQE Paper 1, IIQE Paper 2, IIQE Paper 3, and IIQE Paper 6 examinations.

Holders of an approved insurance qualification:

1.Chartered Life Underwriter (CLU);

2.Associate or Fellow of The Chartered Insurance Institute (ACII/FCII);

3.Senior Associate or Fellow of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF (Snr Assoc)/ANZIIF (Fellow))

4.Fellow of the Life Management Institute (FLMI);

5.Chartered Property Casualty Underwriter (CPCU);

6.Hong Kong Diploma in Insurance Studies of The Insurance Institute of Hong Kong/The Chartered Insurance Institute

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).

Type B exemption requirements

The following are exempted from IIQE Paper 5 examination.

•Holders of recognized professional qualifications in insurance and investment:

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.Person who has passed the Foundation Programme Examination of the Hong Kong Securities and Investment Institute (FPE);

5.Person who has passed the Diploma Programme Examination of the Hong Kong Securities and Investment Institute (DPE);

6.HKSI Practicing Certificate of the Hong Kong Securities and Investment Institute (Passed HKSI Papers 1, 7, 8)

7.HKSI Specialist Certificate of the Hong Kong Securities and Investment Institute;

8.HKSI Professional Diploma in Financial Markets of the Hong Kong Securities and Investment

9.Institute.

•Holders of recognized professional qualifications in actuarial science:

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).

Type C exemption requirements

Insurance intermediaries who fulfill all of the following requirements:

1.Practicing in the insurance intermediary business in Hong Kong immediately before 1st January 2000

2.Holder of the Certificate of Proficiency in General Insurance Studies issued by The Hong Kong Federation of Insurers

 

Are exempted from IIQE Paper 1 (Principles and Practice of Insurance), IIQE Paper 2 (General Insurance) and IIQE Paper  6 (Travel Insurance Agents Examination).

Type D exemption requirements

•Insurance intermediaries who are practicing in the insurance intermediary business in Hong Kong immediately before 1st January 2000

•Insurance intermediaries in possession of five years’ proven experience in insurance business in Hong Kong within the six-year period immediately before 1st January 2000

Can be exempted from sitting for IIQE Paper 1 (Principles and Practice of Insurance) , and the following paper as appropriate (whichever relates to the specific experience an applicant has obtained) :

1.IIQE Paper 2 (General Insurance)

2.IIQE Paper 3 (Long Term Insurance)

3.IIQE Paper 6 (Travel Insurance)

•Only insurance intermediaries who possess proven experience in both general and long term insurance business can be exempted from all papers i.e. IIQE Paper 1, IIQE Paper 2, IIQE Paper 3 and IIQE Paper 6.

Type D work experience vs exempted papers

Able to waive IIQE Paper 1
Principle and Practice of Insurance
Able to waive IIQE Paper 2
General Insurance
Able to waive IIQE Paper 3
Long Term Insurance
Able to waive IIQE Paper 6
Travel Insurance Agents
  
  
  

 

Type E exemption requirements

Applicants who have passed both of the following IIQE Papers:

1.Principles and Practice of Insurance (Paper 1)

2.General Insurance (Paper 2)

Can be exempted from sitting for IIQE Paper 6 (Travel Insurance Agents Examination Paper).

How can we help?

2CExam provides HKSI LE, IIQE, EAQE and SQE related exam preparation materials. We sell mock question banks for IIQE Papers 1, 2, 3, 5 and MPFE in Chinese and English; and bibles for IIQE Papers 1, 2, 3, MPFE in Chinese. We also offer 1 on 1 tutorial services. Besides, we have also made free tutorial videos for IIQE Papers 1, 2, 3 and MPFE and posted on public channels such as Youtube/ Bilibili/ Tencent/ Iqiyi. 2CExam has been an exam training expert for years. Should you need any help please visit www.2cexam.com or contact us through:

Phone +852 2110 9644 Email: [email protected] Wechat: hk2cexam WhatsApp: +852 9347 2064

Please support us by leaving comments and likes if you think this article helps you!

You can scan or click on the QR codes to visit our social media.

Latest Article

Categories

過往文章

Contact US

Interesting Articles

Why can’t you learn the practise questions by rote when studying for the IIQE Insurance Exam?

May 25, 2022

Students who have taken/ who are going to take the IIQE should know the study note is a several-hundred pages, paragraph form booklet illustrating the exam coverage. Not to mention the length of the text, the expression of concepts requires readers’ intense concentration. So some candidates think that doing only the practise questions should be…

Why can’t you learn the practise questions by rote when studying for the HKSI Licensing Examination (LE)?

May 18, 2022

Students who have taken/ who are going to take the HKSI LE should know the HKSI study note is a several-hundred pages, paragraph form booklet illustrating the exam coverage. Not to mention the length of the text, the expression of concepts requires readers’ intense concentration. So some candidates think that doing only the practise questions…

How to register for the IIQE Insurance Intermediary Qualifying Examination?

May 11, 2022

The IIQE exam should be registered at PEAK instead of the Insurance Regulatory Bureau. The IIQE exam places are quite sought-after. If students have an urgent need to take the exam, students should decide to register as soon as possible. The test period will be issued on a day between the 12th to 17th of…

How to register for the HKSI LE Securities and Futures Practitioner?

May 4, 2022

The HKSI LE exam must be registered at HKSI, but not the SFC. There are two methods for registration. The most popular one is online registration, followed by in-person registration. How to register for HKSI exam Register online: 1. To register for the exam, you must first register as a member of HKSI 2. Click…

Losing Friends and Family Is Inevitable Once Joined the Insurance Industry? 10 Benefits of Working in The Insurance Industry That Can Overturn Your Stereotypes

April 20, 2022

Must people in the insurance industry lose their friends and family? NO! It is not that you won’t have friends when you join the insurance industry. In fact, it depends on whether you use the correct method to sell. When you only care about commissions and don’t care about the needs of your customers, selling…

What kind of jobs can I get after I pass the IIQE Hong Kong Insurance Exam?

April 13, 2022

After passing the IIQE (Insurance Intermediary Qualifying Examination) in Hong Kong, students can start looking for jobs. What job options are there? Bank Relationship Manager (RM) / General Banking Officer (GBO) / Personal Banking Officer / Assistant Relationship Manager (ARM) Some sales positions in the bank, including Relationship Manager (RM) and their assistant – Assistant…

What job opportunities can I get in Hong Kong after passing the HKSI LE securities exam?

April 7, 2022

First, I would like to clarify that some people do not take the HKSI Licensing Examination (also known as LE exam) to find a job, but just to learn more about the financial/ securities market and equip themselves with the necessary knowledge in a compact and more organised way. This article will not cover information…

10 Benefits of Working in the Securities Industry Which Can Bring You a Whole New Perspective

March 30, 2022

Is there an insufficient supply of positions in the securities industry? There are contradictory opinions on the internet. Some say that the financial industry is in demand for talents; others say that the financial industry has burst, and there are too many monks with only a little porridge. From my experience in the recruitment industry…

Is the Securities, Insurance or Real Estate Industry Better? Comparing Incomes amongst Finance Industries

March 22, 2022

Securities and Banking  According to statistics on the Internet and our experience, in Hong Kong, even for some common junior or middle-level positions in the financial/ securities industry, such as risk analyst, research analyst, and compliance officer, the average base salary is between HK$20,000 and 30,000 per month. Many people who have sufficient work experience…

What is updated in 2022 in IIQE Paper 1 Insurance Exam Study Manual? Is the 2017 or older version sufficient for the upcoming exams?

March 18, 2022

The 2021 version of IIQE Paper 1 was officially applicable to exams in 2022 Insurance Authority has taken over the supervision of the insurance industry for more than two years. The IIQE Paper 1 (Insurance Intermediary Qualification Examination) finally put the new regulatory structure in the study manual, and the new study manual can be…