IFMP Family Takaful Agents Certification (FTAC), Pakistan study guide
IFMP Family Takaful Agents Certification (FTAC), Pakistan · Work through your exam, one topic at a time.
The Family Takaful Agents Certification (FTAC) is one of the certifications listed by the Institute of Financial Markets of Pakistan (IFMP) under its Insurance Certifications group, alongside Bancassurance, Bancatakaful, General Takaful, Authorized Surveying Officers, and the Life and Non-Life Insurance Agent's Courses. IFMP describes itself as Pakistan's first securities market institute, established as a permanent platform to develop quality human capital for financial markets and to create standards among market professionals; it states that it conducts licensing examinations leading to certifications for different segments of financial markets. The IFMP Family Takaful Agents Certification (FTAC), Pakistan study guide has 4 sections and about 1,347 words.
01Family Takaful Fundamentals and Islamic Insurance Principles
This domain tests whether you can explain family takaful as a Shariah-compliant mutual-protection arrangement, not a conventional life policy with Arabic labels. Expect questions on tabarru, the participant account, the risk fund, surplus, and the prohibitions of riba, gharar and maysir.
339 words, about 2 min02Family Takaful Products, Benefits and Policy Documentation
This domain tests product knowledge: which family takaful plan fits a need, what benefits are payable, and which document creates and governs the contract. Questions often turn on the difference between the sum covered, the participant account value, and projected investment returns.
346 words, about 2 min03Underwriting, Risk Assessment and Claims in Family Takaful
This domain tests how the operator decides whether to accept a risk, on what terms, and how a claim is assessed. The central duty is disclosure of material facts.
336 words, about 2 min04Regulatory Framework, Ethics and Agent Conduct in Pakistan
This domain tests the rules that govern family takaful in Pakistan and the conduct expected of an agent. The SECP regulates insurance and takaful; the Insurance Ordinance, 2000 provides the statutory framework, and the Takaful Rules, 2012 govern takaful operations, including the requirement for a Shariah Advisory Board.
326 words, about 2 min