IIQE Paper 3 case studies
IIQE Paper 3 · Put your knowledge to work in context.
IIQE Paper 3 is the long term insurance paper within Hong Kong's Insurance Intermediaries Qualifying Examination, the licensing examination administered under the Insurance Authority. Passing it is one of the requirements for individuals who wish to be registered or licensed to advise on and sell life insurance and related long term products in Hong Kong, so it is typically taken by new agents, brokers and technical staff before they begin regulated selling activity. The IIQE Paper 3 case studies are 5 cases and about 3,984 words.
1Suicide at 14 months, an undisclosed psychiatric history and an outstanding policy loan
Mr Cheung, aged 42, applied for a whole life policy with a sum assured of HK 5,000,000 and a 20-year premium payment period. The annual premium is HK 95,000.
908 words, about 5 min2A substandard underwriting offer, a pending colonoscopy and a request to backdate
Ms Wong, aged 55, is a self-employed caterer. She applies for a 20-year term policy with a death benefit of HK 3,000,000 to protect her mortgage.
802 words, about 4 min3An elderly retiree sold a five-year ILAS with a 'guaranteed' return
Mrs Chan, aged 68, is a retired school clerk. Her savings are about HK 2,200,000, she receives a monthly pension of HK 9,000 and needs about HK 15,000 a month to live.
820 words, about 4 min4A premium paid by the agent, a surrender of existing cover and a misleading social media post
Mr Lam is a licensed technical representative of an insurance agency. He is HK 18,000 short of his quarterly target.
724 words, about 4 min5An irrevocable trust nomination, a bank assignment and a missed premium
Mr Ng, aged 60, took out a whole life policy 15 years ago with a death benefit of HK 2,000,000. The policy has a cash value of HK 600,000.
730 words, about 4 min