Is there a minimum education requirement for the insurance industry?
The conditions for licensing in the insurance industry are included in the “Fit and Proper” Guidelines (GL23/Guideline 23) issued by the Insurance Authority. All intermediaries who wish to be licensed must abide by this guideline.
IA listed the educational requirements for intermediaries (individuals) in the “Fit and Proper” Guidelines. The minimum academic qualification required to apply for a license is to pass 5 subjects in the Hong Kong Certificate of Education Examination (HKCEE) or the Hong Kong Diploma of Secondary Education Examination (HKDSE), including Chinese+Mathematics or English+Mathematics; The passing grade for the Diploma of Secondary Education Examination (HKDSE) is Level 2 for each subject; as for the Hong Kong Certificate of Education Examination (HKCEE), their passing grade is E. Combining results from more than one exam year to meet the licensing condition is acceptable. In other words, language proficiency and mathematics (logical thinking) are requirements that the Insurance Authority attaches great importance to.If students are taking other courses, such as Yijin, Advanced Diploma, etc.,you should also pay attention to whether the qualifications are equal to or higher than the qualifications of obtaining passing grades in 5 subjects of the Hong Kong Diploma of Secondary Education Examination (HKDSE), especially Chinese+Mathematics or English+Mathematics.
If the students do not meet the requirements in terms of academic qualifications, that does not mean there are no other solutions in getting candidates to be qualified for a license. If students have completed an Insurance Professional Diploma issued by the Institute of Professional Education and Knowledge, Yi Jin Scheme, or has a recognized professional qualification, the academic requirement can be substituted by these schemes or alternative qualifications. Examples of recognized professional qualifications include: Certified Financial Planner (CFP), Fellow of the Chartered Institute of Insurance (ACII), Member of the Institute of Actuaries of Australia (FIAA), Member of the American Association of Actuaries (FSA), etc. For more examples, please refer to:
https://www.ia.org.hk/tc/legislative_framework/files/Insurance_Qualifications_eng.pdf
“Insurance Ordinance” (Chapter 41) “on “Fit and Fit” Guidelines Criteria (GL23/Guideline 23)
https://www.ia.org.hk/en/legislative_framework/files/Eng_GL23_FPP.pdf
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
-
Phone:
+852 2110 9644
-
Email:
-
WhatsApp
+852 9347 2064
-
WeChat
hk2cexam
Interesting Articles
Is the Securities, Insurance or Real Estate Industry Better? Comparing Incomes amongst Finance Industries
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?
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…
5 Reasons You Should Not Study Only the IIQE note
Students who are taking the IIQE or took it before would know that the study note is a several-hundred pages exam coverage full of long paragraphs. Not to mention the length of the texts, the expression of ideas requires the readers a lot of concentration to understand. Thus, some candidates think only studying the mock…
Can’t Earn a Lot with Low Educational Background? 3 Major Industries You Can Make a Fortune in
In today’s society, because of education inflation, having only a college degree may not help you get a job with a high salary. While there are many people who don’t actually have a particular career path inclination, as long as the salary is good enough, people choose that path. In fact, there are three major…
10 Tips for Preparing the HKSI LE Securities Exam
Many people think that the coverage of the HKSI LE securities exam is broad, and we are here to help you. The following are 10 small tips to improve the efficiency of revision and enhance the understanding of concepts! Improve Studying Efficiency Question Answering Skills How can we help? 2CExam provides HKSI LE, IIQE, EAQE…
How to change the game by passing the IIQE exam even with a low educational background?
You do not need a strong educational background to be successful in the insurance industry Always feel that your salary is low, and you cannot be promoted due to a low educational background? Do you want to have higher achievements and a faster and more professional career path? In fact, education is not the main…
9 Easy Secrets for Preparing the HKSI LE Licensing Examination
Before taking the HKSI LE securities exam, students need to do some preparations: 1. Registration Students need to register for the exam on HKSI’s website first. 2. Download the study manual Students can download it for free after registration. 3. Search 2CExam’s free video courses Our senior tutors has navigated the…
5 Reasons You Should Not Study Only the HKSI LE manual
Students who are taking the HKSI LE or took it before would know that the study manual is a several-hundred pages exam coverage full of long paragraphs. Not to mention the length of the texts, the expression of ideas requires the readers a lot of concentration to understand. Thus, some candidates think only studying…
5 Key Points Mainlander Candidate Must Know When Partaking in the HKSI LE Exam
What is the HKSI LE exam? The full name of the exam is called the Licensing Examination, or LE for short. The organizer of the exam is not the Securities and Futures Commission (SFC), but a non-government organization named Hong Kong Securities and Investment Institute, or HKSI for short. Generally speaking, this exam is…
Why do people still buy materials from 2CExam while PEAK provides free study notes?
In addition to organizing IIQE exams, VTC PEAK Academy will also provide students who take the IIQE 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 datas and examples that…