IIQE Paper 2 study plan

Explain how insurable interest, utmost good faith, indemnity, subrogation and proximate cause operate in general insurance, using one concrete example each

Map the structure of the Hong Kong general insurance market: authorised insurers, brokers, agents, and the roles of the Insurance Authority and the Motor Insurers' Bureau

Distinguish risk avoidance, reduction, retention and transfer, and classify five everyday business exposures into these categories

Describe what reinsurance is, differentiate proportional (quota share, surplus) from non-proportional (excess of loss, stop loss) treaties, and state who bears the loss in each

Outline the licensing regime for insurance intermediaries under the Insurance Ordinance, including the roles of the Insurance Authority and the self-regulatory bodies that preceded it

Summarise the conduct requirements that apply to intermediaries: suitability, disclosure of remuneration, and handling of client premiums

Explain the elements of a valid contract (offer, acceptance, consideration, intention, capacity, legality) and apply them to a simple insurance placement

Distinguish conditions, warranties, representations and exclusions, and identify which breaches allow the insurer to avoid the policy

Trace the policy lifecycle from proposal form through cover note, policy schedule, endorsements and renewal, noting the document produced at each stage

Explain the principle of indemnity and how it applies to sums insured, average clauses and underinsurance in property policies

Describe the underwriting process: information gathering, risk assessment, acceptance terms and the role of reinsurance in capacity

Explain how premium is rated for at least three classes of general insurance, distinguishing rate, exposure and loading factors

Outline the claims handling process from notification through investigation, assessment, settlement and recovery

Compare the cover, exclusions and conditions of fire and property policies, including the treatment of average, reinstatement and consequential loss

Explain public liability, product liability and employers' liability cover, identifying the key exclusions and the statutory context for employees' compensation in Hong Kong

Describe the structure of a motor policy: compulsory third-party cover, own-damage cover, no-claim discount and the role of the Motor Insurers' Bureau

Summarise travel insurance cover for medical expenses, trip cancellation, baggage and personal accident, and note common exclusions

Explain personal accident cover, distinguishing it from medical and life cover, and identify the basis on which benefits are paid for death, disablement and medical expenses

Apply the concept of proximate cause to a multi-peril loss scenario and justify which peril triggered the claim

Analyse a claim scenario for potential non-disclosure or misrepresentation and state the likely outcome for the insured

Explain how deductibles, excesses and policy limits affect the amount an insurer pays in a worked example

List the continuing obligations of a licensed insurance intermediary, including CPD, notification of changes and record-keeping requirements

Explain the complaint handling and disciplinary framework, and the consequences of misconduct for a licence

Describe the anti-money-laundering and counter-terrorist-financing obligations that apply to insurance intermediaries in Hong Kong

Summarise the market conduct standards covering advertising, cold calling and the handling of client money

Explain how reinsurance affects an insurer's solvency, capacity and pricing decisions, using a simple numerical example

Describe the role of captives, pools and co-insurance in spreading large or specialised risks

Summarise the prudential framework for authorised insurers, including capital adequacy and the role of the Insurance Authority in supervision

Identify the main sources of risk in an insurance company's own balance sheet and how each is managed

Complete two full-length timed practice papers under exam conditions and record your score per domain

Revisit your three weakest domains and rewrite the notes you made in Weeks 1-7 for those areas

Recite from memory the key definitions and conduct rules most likely to be tested, without referring to notes

Build a personal error log of every question you answered incorrectly and state the correct principle behind each