IFMP Non-Life Insurance Agents Certification (NLIAC), Pakistan study guide
IFMP Non-Life Insurance Agents Certification (NLIAC), Pakistan · Work through your exam, one topic at a time.
The Non-Life Insurance Agent's Course is one of the Insurance Certifications listed by the Institute of Financial Markets of Pakistan (IFMP), appearing alongside the Life Insurance Agent's Course, Authorized Surveying Officers, Bancassurance Certification, BancataKafol Certification, Family Takaful Agents Certification and General Takaful Certification. 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, and it states that it conducts licensing examinations leading to certifications for different segments of financial markets. This course sits in the general (non-life) insurance segment, so it is aimed at people who sell or advise on non-life covers rather than life or family takaful products. IFMP's public pages do not publish this course's syllabus, question count, duration, pass mark, fee or validity period, so candidates should confirm those details directly with IFMP before booking. Preparation should follow IFMP's own channels: the Examination Regulations page, the Examination Schedule, the Fees Structure, the IFMP Study Guide and the IFMP Mock Paper linked from the site, plus the Safe Exam Browser download used for online delivery. Registration is handled through the IFMP online registration portal, and results are evidenced through the Insurance Agent's e-Certificate verification page. Topics on this exam: Non-Life (General) Insurance Fundamentals and Practice. The IFMP Non-Life Insurance Agents Certification (NLIAC), Pakistan study guide has 1 section and about 373 words.
01Non-Life (General) Insurance Fundamentals and Practice
This domain tests the legal and practical foundations of non-life (general) insurance in Pakistan: how risk is transferred, how policy wording creates or limits cover, and how claims are adjusted. It assumes working knowledge of the Insurance Ordinance, 2000, SECP supervision, and the market’s conventional and takaful structures. Insurable interest: the insured must benefit from the subject’s safety or suffer loss from its damage. In non-life, the interest normally exists at the time of loss.
373 words, about 2 minMore study resources for IFMP Non-Life Insurance Agents Certification (NLIAC), Pakistan
- Practice questionsUnder the principle of indemnity, what is the maximum amount an insurer will normally pay on a fire claim for a building insured for PKR 5 million that suffers damage assessed at PKR 3 million?
- FlashcardsUtmost good faith. A mutual duty requiring the proposer to disclose all material facts and the insurer to disclose material terms.
- Cheat sheetUtmost good faith (uberrimae fidei): the proposer must disclose all material facts; a material fact is one that would influence a prudent underwriter's acceptance, rating, or terms.
- Key termsInsurance. A contract arrangement in which one party collects small regular payments from many people and uses the pooled money to compensate those who suffer specified losses, in exchange for a promise of protection.
- Study planDefine the core principles of insurance (insurable interest, indemnity, utmost good faith, proximate cause, subrogation, contribution) and state in your own words how each applies to a Pakistani non-life policy.
- Common mistakesCandidates memorise 'indemnity = restore to pre-loss position' as a slogan but never connect it to the market-value/actual-cash-value calculation, and many have only seen sum-insured figures on fire policy schedules.
- Exam-day guideMost Pakistani test centres verify identity against your original Computerised National Identity Card and often retain a photocopy.