IFMP Life Insurance Agents Certification (LIAC), Pakistan study plan

Map the LIAC syllabus domain 1 into a personal topic checklist, marking each sub-area as strong, weak, or unknown before studying anything

Define the agent's role in the life insurance sales process in Pakistan and list the regulated activities reserved to licensed agents

Explain the concept of insurable interest and state who must hold it, when it must exist, and what happens when it is absent

Draft a one-page glossary of core terms (policyholder, life assured, beneficiary, premium, sum assured, surrender value) in your own words

Describe the main life insurance product types (term, whole life, endowment, money-back, unit-linked) and match each to a typical client need

Compare the features, premium patterns, and payout structures of at least four product types in a written table

Explain how premiums are built from mortality, expense, and reserve components without using formulas you cannot justify

Identify which product types are most often mis-sold and explain the client harm each mis-sale causes

Walk through the full policy lifecycle from prospecting to underwriting, issuance, servicing, and claim settlement

Explain the purpose of the proposal form and list the consequences of non-disclosure or misrepresentation by the proposer or the agent

Outline the underwriting information an insurer may request and why medical and financial underwriting both matter

Describe the free-look period and the grace period and state what a client can do during each

Summarise the key duties an agent owes to the client, the insurer, and the regulator, and identify where these duties conflict

Explain the requirement to disclose commission and remuneration and how to present it to a client without prompting objections

Apply a documented needs-analysis process to two hypothetical clients with different incomes and dependants

Practise explaining a policy's exclusions, waiting periods, and surrender terms in plain language

Describe the regulatory framework governing life insurance distribution in Pakistan and name the bodies with supervisory or self-regulatory roles

Explain licensing, renewal, and continuing professional development obligations for an agent

Identify the conduct rules on advertising, lead generation, and client contact, including cold-calling limits

List the main anti-money-laundering and know-your-customer checks an agent must complete before submitting a proposal

Diagnose the ethical failures behind common mis-selling scenarios such as churning, rebating, and twisting, and state the correct alternative action

Apply a step-by-step complaints and grievance-redressal process, including escalation to the insurer and then the regulator or ombudsman

Explain conflict-of-interest management when an agent represents more than one insurer

Define suitability and demonstrate how to document why a product fits a client's stated objective

Complete two timed practice sets of at least fifty questions each and log every wrong answer by sub-topic

Re-teach your three weakest sub-topics from memory on a blank sheet, then check against your notes

Memorise the definitions and procedural sequences most likely to be tested, such as claim steps and complaint timelines

Build flashcards for every term or rule you have missed more than once

Sit one full-length mock exam under timed conditions and score it against a pass threshold you set in advance

Review every flagged and guessed question, not just the wrong ones, and confirm the reasoning

Recite the agent's duties, the licensing requirements, and the complaint escalation path from memory without notes

Finalise a one-page exam-day sheet of dates, thresholds, and procedural steps for last-minute review