According to the “Quality Assurance Scheme for Intermediaries (QASI) – Handbook” issued by the Hong Kong Insurance Authority, individuals with different professional qualifications can obtain exemptions for designated qualification examinations:
| Category | Professional Qualification Name | Exempted Exam Papers |
| Category A | Holders of the following recognized insurance professional qualifications: 1..Associate or Fellow of the Chartered Insurance Institute (ACII or FCII);2.Senior Associate or Fellow of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF (Snr Assoc) or ANZIIF (Fellow));3.Fellow of the Life Management Institute (FLMI);4.Chartered Life Underwriter (CLU);5.Fellow of the Chartered Property Casualty Underwriter (CPCU);6.Diploma in Insurance Studies of the Hong Kong Insurance Institute / Chartered Insurance Institute. Holders of the following recognized actuarial qualifications:1.Fellow of the Institute and Faculty of Actuaries (FIA/FFA);2.Fellow of the Institute of Actuaries of Australia (FIAA);3.Fellow of the Society of Actuaries (FSA). | Insurance Principles and Practice Exam IIQE PAPER 1 General Insurance Exam IIQE PAPER 2 Long-term Insurance Exam IIQE PAPER 3 Travel Insurance Agents Exam IIQE PAPER 6 |
| Category B | Individuals holding the following insurance, investment, or actuarial professional qualifications: 1.Chartered Life Underwriter (CLU), and must pass one of the optional CLU qualification exam papers “HS328 Investment”; 2.Chartered Financial Consultant (ChFC); 3.Certified Financial Planner (CFP); 4.Fellow of the Institute and Faculty of Actuaries (FIA/FFA); 5.Fellow of the Institute of Actuaries of Australia (FIAA); 6.Fellow of the Society of Actuaries (FSA); 7.Individuals who have passed the Hong Kong Securities and Investment Institute Foundation Program Examination (FPE); 8.Individuals who have passed the Hong Kong Securities and Investment Institute Diploma Program Examination (DPE); 9.Hong Kong Securities and Investment Institute Practitioner Certificate; 10.Hong Kong Securities and Investment Institute Senior Practitioner Certificate;11.Hong Kong Securities and Investment Institute Financial Markets Professional Diploma. | Investment-linked Long-term Insurance Exam IIQE PAPER 5 |
| Category C | Insurance intermediaries (limited to those who have been engaged in the insurance brokerage business in Hong Kong before January 1, 2000) holding a General Insurance Business Study Certificate issued by the Hong Kong Federation of Insurers. | Insurance Principles and Practice Exam IIQE PAPER 1General Insurance Exam IIQE PAPER 2Travel Insurance Agents Exam IIQE PAPER 6 |
| Category D | Insurance intermediaries (limited to those who have been engaged in the insurance brokerage business in Hong Kong before January 1, 2000) with 5 years of verifiable local insurance experience within the 6 years immediately preceding January 1, 2000. | Insurance Principles and Practice Exam (IIQE PAPER 1), and General Insurance Exam (IIQE PAPER 2)/Long-term Insurance Exam (IIQE PAPER 3)/Travel Insurance Agents Exam (IIQE PAPER 6) relevant to their 5 years of verifiable local insurance experience. |
| Category E | Individuals who have passed the “Insurance Principles and Practice” and “General Insurance” papers in the Qualification Exam. | Travel Insurance Agents Exam (IIQE PAPER 6) |
Regarding the experience and exam exemptions for Category D individuals
If an insurance intermediary (limited to those who have been engaged in the insurance brokerage business in Hong Kong before January 1, 2000) has 5 years of verifiable local insurance experience within the 6 years immediately preceding January 1, 2000, the exam exemptions are as follows:
| Exam ExemptionsExperience | Insurance Principles and PracticeIIQE Paper 1 | General InsuranceIIQE Paper 2 | Long-term InsuranceIIQE Paper 3 | Travel InsuranceIIQE Paper 6 |
| Verifiable experience in General Insurance | ✓ | ✓ | ||
| Verifiable experience in Long-term Insurance | ✓ | ✓ | ||
| Verifiable experience in Travel Insurance | ✓ | ✓ |
If an insurance intermediary has both general insurance and long-term insurance business in their 5 years of verifiable local insurance experience, they can be exempted from all four papers, namely IIQE Paper 1, IIQE Paper 2, IIQE Paper 3, and IIQE Paper 6.
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