IA Licence
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…
Read MoreCan I obtain an insurance license from the Insurance Authority (IA) without taking any examination if I have a foreign professional qualification?
Does the IA recognize insurance-related work experience gained outside of Hong Kong? Some students will ask us what kind of work experience is considered as insurance related industry experience, because their academic qualifications do not meet the requirements. Some people might have the misconception, thinking that without a license, how can one have industry…
Read MoreCan I apply for an insurance license from the Insurance Authority if I have criminal records?
To apply for an insurance license, you need to meet the “Fit and Proper” Guidelines issued by the Insurance Authority (IA). The IA will look into your past criminal records, the Monetary Authority / Securities and Futures Commission / MPFA / other relevant agencies’ sanction records, as well as whether there are any places…
Read MoreWhat is counted as relevant industry experience under the IA license transition arrangements?
One of the most repercussive reforms after the Insurance Authority took over the supervision of the insurance industry is the change of the minimum academic qualification requirement from Secondary school form 5 level to passing 5 subjects in the Hong Kong Certificate of Education Examination (HKCEE) / Hong Kong Diploma of Secondary Education (HKDSE),…
Read MoreMinimum academic requirements for applying for an IA license
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…
Read MoreHow do I apply for a license if I want to engage in the insurance industry? What conditions must I meet?
The insurance industry can not only help some people who may have urgent needs in the future, but also enables agents to possibly make a lot of money, as well as meet wealthy people, hence it is a very attractive profession. To go back to the basics, if a candidate wants to sell insurance…
Read MoreWho should I contact if I have questions about licensing in the insurance industry? Why can’t I contact PEAK? Should I contact 2CEXAM?
Many students who want to become insurance intermediaries may have some questions regarding what exams to take and what to pay attention to when issuing licenses; with that, they might not know who to ask. Should candidates ask 2CExam? PEAK? Or the Insurance Authorities? In fact, PEAK is only responsible for organising exams,…
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The difference between IA Responsible Officer(RO) and technical representative (TR)
Regulatory Organisation Before explaining the difference between Responsible Officer and Technical Representative, you must first know that there is only one regulatory agency that regulates companies engaging in insurance business: the Insurance Authority (IA). All the powers concerning licensing matters, supervision tasks, sanctions and investigations of intermediaries of insurance intermediaries, insurance companies and insurance…
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How to apply for an insurance intermediary IA license in Hong Kong?
Many students who have no experience in the insurance industry feel puzzled about the procedures regarding applying for a license. This article mainly teaches students how to prepare to apply for a insurance license. First of all, to apply for an insurance license, you need to meet the requirements of the “Fit and…
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How can I verify the identity of past insurance brokers and insurance agents? How to check the insurance intermediary license records expired before September 23, 2019?
Where can I verify the identity of insurance brokers and insurance agents? For information on insurance intermediaries that are still valid after September 23, 2019, or newly applied after that day, you can find them on the public search on the website of Insurance Authority: https://iir.ia.org.hk/#/index The development history of insurance brokers and…
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