Bulgarian Insurance Broker Qualification Exam study plan

Map the structure of the Insurance Code into a one-page outline: licensing, supervision, intermediation, contract, distribution, AML, consumer protection

Define the FSC's supervisory powers and the registration/authorisation requirements for brokers and agents from memory

List the categories of insurance intermediaries under Bulgarian law and state the threshold conditions that distinguish them

Identify the sanctions regime for unlicensed intermediation and for breach of supervisory orders

Distinguish broker from agent by who they represent, whose instructions they act on, and to whom they owe duties

Explain the registration, ongoing requirements, and professional indemnity obligations of insurance brokers

Describe remuneration structures (commission, fee, mixed) and state when and how they must be disclosed

Identify conflict-of-interest situations in distribution and the required mitigation steps

Sequence the stages of concluding an insurance contract: proposal, offer, acceptance, policy issue, inception

Classify the rights and obligations of insurer and policyholder into a two-column checklist

Explain the duty of disclosure of material facts and the consequences of breach

List and distinguish the grounds for termination (cancellation, withdrawal, lapse, avoidance, expiry) and their notice requirements

Define risk, insurable interest, indemnity, subrogation, sum insured, and sums assured in your own words without notes

Apply the indemnity principle to underinsurance, overinsurance, and total loss worked examples

Explain how subrogation operates and trace the insurer's recovery rights step by step

Distinguish sum insured from sums assured and explain which product types use each

Compare coverage scope, exclusions, and typical limits across property, liability, and motor insurance

Outline accident, health, transport (cargo/hull), and agricultural insurance coverages and their key exclusions

Explain compulsory motor third-party liability requirements and the role of the guarantee fund

Match a set of 12 client scenarios to the appropriate non-life product and justify each choice

Distinguish risk life, savings/endowment, annuity, and unit-linked products by purpose, payout structure, and risk borne by the policyholder

Explain surrender values, paid-up options, and policy loans for savings products

Describe how investment risk transfers to the policyholder in unit-linked contracts and what disclosure is required

Calculate a simple endowment maturity payout and an annuity income example

List the AML/CFT customer due-diligence steps an intermediary must perform, including identification, verification, and ongoing monitoring

Identify red flags specific to life insurance and unit-linked products and state the escalation path

Explain sanctions screening obligations and what to do on a potential match

Summarise consumer-protection and data-protection duties in distribution, including advice standards, disclosure, and lawful processing

State the core professional-ethics duties and resolve three ethical-dilemma scenarios

Re-sit a full mixed mock exam under timed conditions and score each domain separately

Re-study only the two weakest domains identified by the mock results

Rehearse statutory definitions and key thresholds from memory until recall is automatic

Review every previously wrong answer and state the correct rule and the reason for the error