QFA Loans study guide
QFA Loans · Work through your exam, one topic at a time.
The QFA Certificate in Professional Financial Advice is a professional qualification offered by LIA, an educational and professional association for people working in the financial services industry. LIA describes itself as the Centre of Excellence for the Education and Development of Finance Professionals, and its programmes are offered in partnership with Atlantic Technological University Sligo, ranging from Level 7 to Level 9 on the National Framework of Qualifications. The QFA Loans study guide has 8 sections and about 2,697 words.
01Life Assurance
Life assurance is a long-term contract paying a sum assured on death (whole of life) or on death within a fixed term (term assurance). Candidates must distinguish term , whole of life , endowment , and unit-linked/investment contracts, and understand sum assured , premium , surrender value , paid-up policy , policy loan , and nomination/beneficiary arrangements.
336 words, about 2 min02Pensions
Pension questions test the accumulation vs. decumulation distinction.
337 words, about 2 min03Savings & Investments
This domain covers the risk–return relationship , asset classes (cash, bonds, equities, property), diversification , and collective investments (unit trusts, OEICs, investment trusts). Candidates must know the difference between units vs.
304 words, about 2 min04Personal General Insurance
Personal lines covers motor , household (buildings and contents), travel , and personal accident . Candidates must understand insurable interest , utmost good faith/disclosure , indemnity , subrogation , contribution , and average (under-insurance).
283 words, about 1 min05Commercial General Insurance
Commercial lines applies general insurance principles to businesses: property/ fire , business interruption , liability (public, products, employers'), commercial motor , and marine/engineering as relevant. Candidates must understand indemnity , reinstatement , co-insurance , deductibles , policy limits (per occurrence vs.
279 words, about 1 min06Private Medical Insurance & Associated Insurances
PMI reimburses eligible private medical treatment costs. Candidates must understand underwriting approaches (full medical underwriting, moratorium, medical history disregarded), excess , co-insurance , waiting periods , pre-existing conditions , chronic vs.
293 words, about 1 min07Housing Loans
Housing loan questions test mortgage mechanics : loan-to-value (LTV) , repayment vs. interest-only , fixed vs.
276 words, about 1 min08Home Reversion Agreements & Associated Insurances
A home reversion is an equity release product where the homeowner sells all or part of the property to a reversion company for a lump sum or income, retaining a lifetime lease to live there rent-free (or at a nominal rent). Unlike a lifetime mortgage , there is no interest roll-up - the provider takes a share of the property's future value.
589 words, about 3 min