IFMP Bancassurance Certification (BAC), Pakistan study plan

Define bancassurance and distinguish it from standalone agency and broker distribution channels

Map the three main bancassurance operating models (referral, distribution alliance, integrated/joint venture) and list the trade-offs of each

Identify the primary Pakistani regulators and statutes that touch bank-sold insurance and takaful (SBP and SECP roles)

Build a one-page glossary of core terms: policyholder, sum assured, premium, takaful contribution, tabarru fund, surplus

Trace the end-to-end bancassurance customer journey from lead generation at the branch to policy issuance and servicing

Explain how the bank's role as corporate agent or distributor differs from its role as underwriter

Summarize the SBP framework conditions for banks acting as insurance distributors, including board-approved policy and product approval expectations

Describe the SECP's role in licensing insurers and takaful operators and approving products sold through banks

Draft five exam-style recall questions on the distribution model and answer them from memory

Compare conventional life insurance and family takaful on risk sharing, surplus distribution, and contract structure

Distinguish term life, whole life, endowment, and unit-linked products by purpose, premium pattern, and payout trigger

Explain the role of riders (accidental death, critical illness, waiver of premium) and when they add value

Calculate simple premium, sum assured, and maturity benefit illustrations for an endowment and a unit-linked plan

Match three customer profiles to suitable product types and justify each match

Apply a structured needs-analysis sequence (income replacement, debt cover, education, retirement) to two hypothetical bank customers

Compute a basic human life value or needs-based cover estimate and explain assumptions to a layperson

Identify suitability red flags such as over-insurance, affordability mismatch, and short-term surrender of long-term plans

Practice delivering a two-minute plain-language explanation of exclusions, waiting periods, and free-look rights

List the disclosure documents a customer must receive before signing

Explain the sales-practice standards expected of bank staff and insurers, including need-based selling and prohibition of mis-selling

Describe complaint handling and grievance-redressal escalation paths available to a policyholder

Outline the free-look period, cancellation, and surrender-value rules and when each applies

Role-play a full sales conversation with a colleague, covering discovery, disclosure, and objection handling

Identify which sales-conduct breaches would trigger regulatory or disciplinary consequences

Apply customer due diligence and enhanced due diligence steps to insurance and takaful sales through banks

Identify money-laundering and terrorist-financing red flags specific to premium payment, early surrender, and assignment of policies

Explain record-keeping, suspicious-transaction reporting, and staff training obligations under the AML/CFT regime

Distinguish conflicts of interest that arise when a bank earns commission on products it recommends

Describe the consequences of misrepresentation, falsified documents, and premium diversion

Work through five ethics scenarios and justify a defensible course of action for each

Reconcile customer-suitability duties with branch sales targets and commission incentives

Revisit the two weakest domains from earlier weeks and close the specific knowledge gaps identified

Answer 40 mixed practice questions under timed conditions and review every error

Summarize each domain's key rules on a single revision sheet

Complete two full-length mock exams under timed conditions and score each

Review every incorrect answer and trace it back to the underlying rule or concept

Recite key regulatory obligations, disclosure requirements, and AML/CFT steps from memory

Rehearse concise plain-language explanations of takaful versus conventional cover and of suitability duties

Finalize an exam-day time-allocation and question-triage strategy