Insurance Commission Insurance Broker Licensure Exam (Philippines) case studies
Insurance Commission Insurance Broker Licensure Exam (Philippines) · Put your knowledge to work in context.
The Insurance Commission insurance broker licensure exam is the Philippine regulatory route to a broker's licence: it tests whether a candidate can place, negotiate and service insurance business for clients while staying inside the Insurance Code and the Commission's circulars. It suits people moving from agency, bancassurance, corporate risk management or captive broking into independent brokerage, and staff in brokerage firms who need to be licensed to transact. The Insurance Commission Insurance Broker Licensure Exam (Philippines) case studies are 5 cases and about 3,359 words.
1Commission Splits and Side Payments to a Client's HR Director
Liza is a licensed insurance broker in Makati. She handles the group life policy of a 300-employee logistics company, annual premium P6.2 million, with a 12% broker commission (P744,000).
752 words, about 4 min2Angioplasty Not Disclosed on a Term Life Application
Nestor, 47, applies for a P5 million 20-year term life policy. Question 11(a) asks: 'Have you ever been diagnosed with, or treated for, heart disease, hypertension, or diabetes?' He answers 'No.' In fact, he had coronary angioplasty with stent placement two years earlier and takes maintenance medication.
672 words, about 3 min3Typhoon Loss, 80% Coinsurance, and a Late Notice
A food-processing company in Iloilo insures its building and machinery for P12,000,000. At policy inception the actual cash value of the insured property is P20,000,000.
644 words, about 3 min4Quota-Share Reinsurance with an Unauthorized, Insolvent Reinsurer
Pacific Shield Insurance, a domestic non-life insurer, buys a 25% quota-share reinsurance treaty from Meridian Re, a Bermuda reinsurer not authorized in the Philippines. The placement is made by Cebu Reinsurance Brokers.
639 words, about 3 min5Broker's Email 'Cover Is Bound' Without Binding Authority
A small exporter in Davao asks broker Nico to arrange marine cargo insurance for a P50 million shipment of fresh bananas to Japan. The vessel sails in three days.
652 words, about 3 min