IIQE Paper 3 study guide
IIQE Paper 3 · Work through your exam, one topic at a time.
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 study guide has 6 sections and about 2,466 words.
01Life Insurance Products and Policy Features
This domain tests whether you can match a client need to the right life insurance structure and then explain the policy mechanics that determine payout, cash value and flexibility. Paper 3 questions often disguise product choice inside a servicing scenario, so you need both labels and consequences.
467 words, about 2 min02Long Term Insurance Policy Provisions and Contract Law
Contract law underpins every life policy: formation, insurable interest, disclosure, the effect of policy terms and the remedies for breach. Questions frequently turn on whether the insurer can avoid a policy, pay a reduced benefit or rely on an exclusion.
424 words, about 2 min03Underwriting, Premiums and Policy Servicing
This domain covers risk selection, how premiums are built and the servicing events that follow issue. Expect calculations, rating decisions and questions on what an insurer may change after the policy is in force.
411 words, about 2 min04Investment-linked and Retirement Products
This domain tests the mechanics of investment-linked assurance schemes (ILAS) and the retirement products Hong Kong intermediaries commonly sell: MPF, ORSO, qualifying deferred annuity policies (QDAP) and annuities. You must separate insurance features from investment risk and tax incentives.
390 words, about 2 min05Regulatory Framework and Conduct Requirements for Long Term Insurance Intermediaries
This domain covers who may sell long-term insurance, what the Insurance Authority (IA) requires and how conduct rules apply at the point of sale. It is the compliance backbone of Paper 3.
402 words, about 2 min06Ethics, Selling Practices and Customer Protection
This domain tests judgement: how an intermediary should behave when commercial pressure, client vulnerability and regulatory rules collide. Questions often ask what to do first, what to disclose and what must never be done.
372 words, about 2 min