What exam should I take if I want to sell life insurance, savings life insurance, annuities, and critical illness insurance?

May 25, 2021

 

Life insurance, endowment insurance, annuities, and critical illness insurance are all insurances that are particularly related to human life. Life insurance and endowment life insurance are types of insurance that pay consolation money to the beneficiary after the death of the insured. Annuities are closely related to the life of the insured. Basically for most of the annuity plans, the longer the life of the insured, the more yearly income the insured will receive. Critical illness insurance means that if the insured suffers from certain specified diseases or it is necessary to perform specified medical procedures, the insurance company will compensate for a sum of money for medical treatment or any purpose the insured wants to achieve. According to Hong Kong’s “Insurance Ordinance”, there are 9 types of protection for long-term business, including life and annuity, linked long term, permanent health, etc. Therefore, if you want to sell life insurance, endowment life insurance, annuities, and critical illness insurance, you must meet the conditions for selling general insurance.

 

What exams do you need to take to sell long-term insurance

Selling long-term business and selling general insurance policies require participation in different exams. One of the requirements to sell long-term insurance is to take the Insurance Intermediaries Qualifying Examination (IIQE) Paper 1 and Paper 3. For IIQE exemption, please refer to Exemption from Insurance Intermediary Qualifying Examination (IIQE)

The content of IIQE Paper 1 is relatively broad, including some basic definitions of the insurance industry, the functions and benefits of insurance, related legal principles and applications, insurance principles, the main functions of insurance companies, the structure and supervision of the insurance industry, and the professions of the insurance industry’s moral. Generally speaking, Paper 1 needs a lot of recitation.

 

The content of IIQE Paper 3 is relatively short and in-depth. The content includes basic knowledge and concepts of life insurance, introduction to the types of life insurance and annuities, introduction to insurance benefit rider and other products, a brief introduction to the concept of life insurance policy provisions, and procedures from insuring to underwriting to issuance of insurance policies to claims settlement.

 

How should I review the exam?

 

The pass rate of IIQE has always been a big worry for many candidates. The official has no mechanism to require PEAK to disclose the pass rate, and the pass rate published last time is also appalling. Here I can recommend a review method for everyone:

 

  1. First study the material study manual / 2CExam Youtube instructional video by each chapter (instructional video provided in Cantonese)

 

IIQE Paper 1 Playlist

https://www.youtube.com/playlist?list=PLilKLKW6-ssgwIUeOjeCYOISXctmuOo5M

 

IIQE Paper 3 Playlist

https://www.youtube.com/playlist?list=PLilKLKW6-ssiuqr7zQdSqS-KHLDbLe7_L

 

  1. Complete one chapter of the 2CExam mock test

 

This review method takes 20-25 hours, and statistically has a pass rate of 80%.

No statistics are available for other review methods.

 

2CExam is a company that specializes in training candidates to take the securities, insurance and real estate exams. Regarding IIQE, 2CExam has produced free Cantonese video teaching Paper 1, 2, 3, which is publicly released on major well-known video sharing websites at no additional charge. If students have difficulty understanding the content of the study manual when taking the HKSI paper 1, 2, 3, they can choose to watch the other instructional videos. If you want to purchase review materials to better understand the content of the exam, you can visit www.2cexam.com (physical product) or www.hksiiiqepasspaper.online (online version)

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

Which license is required for bank employees engaged in securities business?

May 16, 2023

Should Hong Kong bank employees apply for an HKMA license or an SFC license? According to the licensing requirements for real estate practitioners, passing relevant qualification exams is a necessary condition for obtaining a real estate agent (individual) license or a salesperson license. The Hong Kong Securities and Futures Practitioners Qualification Exam (HKSI LE) is…

What is the difference between an SFC license and HKMA registration in Hong Kong?

May 16, 2023

What is the difference between an SFC license and HKMA registration in Hong Kong? In Hong Kong, the statutory organization responsible for regulating the securities and futures markets is the Securities and Futures Commission (SFC). The Securities and Futures Ordinance, which came into effect on April 1, 2003, grants the SFC regulatory authority over the…

What is an HKSI certificate?

May 15, 2023

What is an HKSI certificate? What is the use of an HKSI exam transcript? What is an HKSI certificate? Do I need an HKSI exam transcript or an HKSI certificate when applying for SFC registration? To work in the securities industry in Hong Kong, passing the Hong Kong Securities and Futures Commission (SFC) Licensing Exam…

How to obtain an exemption for the HKSI LE Securities and Futures Practitioners Qualification Examination?

May 15, 2023

How to obtain an exemption for the HKSI LE Securities and Futures Practitioners Qualification Examination? In the previous issue, we talked about how if someone wants to work in the securities industry in Hong Kong, they must first pass the Hong Kong Securities and Investment Institute’s (HKSI) Licensing Examination for Securities and Futures Intermediaries. Are…

Where can I register for securities exams in Hong Kong?

May 15, 2023

Where can I register for securities exams in Hong Kong? If you want to work in the securities industry in Hong Kong, you must pass the Securities and Futures Commission (SFC) Licensing Exam LE. The organization that conducts the Licensing Exam LE in Hong Kong is the Hong Kong Securities and Investment Institute (HKSI). The Hong…

Often hear the beautiful ladies and handsome gentlemen in the Hong Kong financial sector talking about the “178 license” they need to obtain. What exactly is it?

May 15, 2023

What is the Hong Kong 178 license? In fact, the 178 license is not a real license but refers to a combination of examination papers that need to be taken. It consists of the Hong Kong Securities and Futures Practitioners Qualification Examination Paper 1, Paper 7, and Paper 8. In Hong Kong, activities related to…

What is the SFC license in Hong Kong?

May 15, 2023

What is the SFC license in Hong Kong? The Securities and Futures Commission (SFC) of Hong Kong was established in 1989 as an independent statutory body responsible for regulating the securities and futures markets in Hong Kong. The Securities and Futures Ordinance and its subsidiary legislation grant the SFC the power to investigate, correct, and…

Why do people still buy materials from 2CExam while HKSI provides free study notes?

June 29, 2022

In addition to organizing LE exams, the HKSI will also provide students who take the LE exam with the exam coverage called the Study Note. It depicts what is covered in the exam with hundreds of pages and full of paragraphs. It is lengthy and contains a lot of data and examples that will not…

EAQE/ SQE Real Estate Agency Exam Coverage/ Scope for Revision

June 23, 2022

Many students are clueless about the exam coverage / scope for doing revision on the Estate Agent Qualifying Examination (EAQE) and Salesperson Qualifying Examination (SQE). VTC’s PEAK does not have any notes available for candidates to download. In fact, the scope of the exam is quite extensive. Some of the coverage can be downloaded from…

Is success an Unattainable Ideal in the Real Estate Industry? 10 Benefits of Being in the Real Estate Industry Can Stimulate Your Capacity

June 16, 2022

Is it difficult to succeed in the real estate industry? Living space is one of the indispensable elements in life. From the wealthy speculating and selling flats to ordinary people looking for a place to live, most Hong Kong people have the demand to rent or even invest in the real estate market. Hong Kong’s…