Minimum academic requirements for applying for an IA license

August 6, 2021

 

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

Interesting Articles

If I need to take more than one paper for the HKSI LE exam, which paper should I partake in first? In what order should I take them?

June 15, 2021

  Many students who did not have a business background would ask us: “ Which paper should I take first when The Hong Kong Licensing Examination for Securities and Futures Intermediaries (HKSI LE) has that many papers? “   Which exam paper should I take first?   The SFC has no requirement for the order…

What is the difference between an insurance company and an insurance brokerage company

June 15, 2021

  Isn’t every company that sells insurance policies called an insurance company?   Insurance companies refer to companies that will launch their own new products (insurance plans). These companies usually have a larger scale. They will arrange everything from product development, front-line sales, underwriting, claims, complaints, and actuarial calculations. To ensure compliance with the requirements…

Who cannot register or take the EAQE/SQE Real Estate Qualifying Examination?

June 15, 2021

Is there a threshold for the real estate examination?   There are no thresholds when it comes to partaking in the real estate exam; your nationality, age, education, work experience, and professional qualifications do not matter when it comes to applying for the real estate exam. As long as one can afford the exam fee,…

Are there free courses for EAQE/SQE real estate exams? Can I take classes online or remotely?

June 15, 2021

Where can I find real estate courses? Estate Agent Course 2021 Centaline Training Institute: http://www.cti-edu.com/icms/template.aspx?series=16   Midland: http://www.midlandu.com.hk/chi/campus/   Rose Garden: http://www.rosegarden-consultants.com/index.html?gclid=Cj0KCQjwvYSEBhDjARIsAJMn0lhII0WauuWfhByB0WIQKOYKdEiRlMB76v36PQtXefflav1cII3lVtoaAimmEALw_wcB   HKCTSVT:https://hkctsvt.edu.hk/tc/programmes/real-estate-agency/ft-programme-erb-placement-tied-courses-ct210ds   City University, School of Continuing and Professional Education (Scope): https://www.scope.edu/Home/Programmes/DiplomaCertificateandShortCourse/ERB%E4%BA%BA%E6%89%8D%E7%99%BC%E5%B1%95%E8%A8%88%E5%8A%83%E8%AA%B2%E7%A8%8B/%E5%9C%B0%E7%94%A2%E4%BB%A3%E7%90%86%E6%84%9B%E5%A2%9E%E5%80%BC.aspx   2CEXAM free Youtube course (Material Provided in Contonese Only)  Estate Agent Qualifying Examination (EAQE) Course Explanation [Not Past Paper,…

Where can I get the free EAQE/SQE real estate practice exam questions?

June 15, 2021

Where can I find a book/study manual/review manual for the real estate licensing exam?   Mock exam questions you can use official reference questions https://www.eaa.org.hk/Portals/0/Sections/Exam/2015/Sample%20Question/Sample%20Questions_E.pdf        2. 2CEXAM mock exam questions With regard to EAQE Estate Agents Qualifying Examination. Only Chinese version is available For Chinese version Printed Version, please visit our website:…

What is the difference between EAQE and SQE exam?

June 15, 2021

  What is the functional difference between the EAQE and SQE exam?   EAQE has broader functions than SQE. Basically, the EAQE exam is omnipotent. If you want to become an estate agent, you must take the EAQE, which is also known as the Estate Agent Qualifying Exam. EAQE results can also be used to…

Is the real estate examination not held by the Estate Agent Authority ? 5 tips for entering the industry

June 15, 2021

  Real estate examinations are held by PEAK   The EAQE and SQE exams are held by the Vocational Training Council’s (VTC) PEAK. VTC PEAK is a statutory organization that provides professional education and training in Hong Kong. It is also an accredited organization that conducts EAQE and SQE examinations.Students who wish to apply for…

Can I work as a real estate agent/salesperson if I fail the HKCEE?

June 2, 2021

To become a real estate agent/salesperson, you need to meet a number of conditions including minimum academic requirements in order to successfully apply for a license.   Can I work as a real estate agent/salesperson if I fail the HKCEE? The website of the Estate Agents Authority contains a page of guidelines on the minimum…

Can I work as a real estate agent/salesperson if I have not studied at university?

June 2, 2021

To become an estate agent/salesperson, you need to meet a number of conditions to successfully apply for a license. One of the most concerned conditions is the academic requirements.    Qualification requirements for applying for a license    In fact, the requirements for becoming a real estate agent or salesperson are not very high, and…

Real Estate Exam Registration Guide: Notes for Real Estate Exam Registration

June 2, 2021

  In addition to seats in prestigious schools and university admissions, Hong Kong also has another “competitive” quota – acquiring a spot for real estate examinations. Generally, you can sign up at 9 o’clock in the morning on the day of registration, but the slots are normally full within a few minutes. The real estate…