IIQE Paper 2 study guide
IIQE Paper 2 · Work through your exam, one topic at a time.
IIQE Paper 2 is the General Insurance paper of the Insurance Intermediaries Qualifying Examination, the licensing examination route for individuals who wish to be registered or appointed as insurance intermediaries in Hong Kong. It is aimed at candidates seeking a general insurance licence - typically tied agents, broker staff, technical representatives and bank insurance staff - rather than life insurance specialists, who sit Paper 1 and Paper 3. The IIQE Paper 2 study guide has 6 sections and about 2,769 words.
01General Principles of Insurance and the Hong Kong Insurance Market
Domain 1 tests the doctrines underneath every policy - indemnity, insurable interest, utmost good faith, proximate cause, contribution and subrogation - and the structure of the Hong Kong market that applies them. General insurance restores the insured to the pre-loss financial position: no better, no worse.
490 words, about 2 min02Regulatory Framework and Conduct Requirements for Insurance Intermediaries
Domain 2 carries the heaviest rule-recall load: the statutory architecture of the Insurance Ordinance (Cap. 41), the Insurance Authority's objectives and powers, licensing and fit-and-proper standards, and the conduct duties that trigger discipline.
476 words, about 2 min03Legal Principles, Contract Law and Policy Documentation
Domain 3 tests whether you can build a contract from a proposal form, classify policy terms correctly, apply disclosure rules, and read a policy in the order a court would. Insurance follows general contract law: offer (proposal or completed form), acceptance (policy issue or cover note, the cover note being temporary insurance), consideration (premium against the promise to indemnify), plus capacity, legality and intention.
449 words, about 2 min04Underwriting, Rating and Claims Handling
Domain 4 tests underwriting judgement, rating mechanics and claims arithmetic - the part of Paper 2 where one wrong assumption, such as applying the average clause backwards, costs an entire scenario question. Proposal form, claim history, survey and inspection reports, financial statements for liability limits and business interruption values, moral hazard signals, and the relationship between sum insured and actual value.
434 words, about 2 min05General Insurance Products: Property, Liability, Motor, Travel and Personal Accident
Domain 5 is the product syllabus. Questions mix policy wording with statutory requirements, so learn each product's core cover, main exclusions and the statute that makes any part of it compulsory.
477 words, about 2 min06Risk Management and Reinsurance
Domain 6 links two themes the exam treats together: how risk is identified and treated before insurance is bought, and how an insurer lays off the risk it has accepted. Pure risks (loss or no loss) are insurable; speculative risks (gain or loss, as in trading or investment) are not.
443 words, about 2 min