| The
Qualification
THE HONG KONG DIPLOMA IN INSURANCE STUDIES (THE DIPLOMA)
The Hong Kong Diploma in Insurance Studies is a local insurance qualification intended to upgrade junior practitioners’ knowledge in technical insurance subjects. Ever since its start in the year 1988, this professional examination has been considered as the stepping stone to the two popular overseas examinations run by the Chartered Insurance Institute of U. K. and the Australian Insurance Institute in Australia.
There are now more than Three hundred and sixteen (up to 2008) Diploma holders and many of them have also subsequently completed their overseas qualifications with the strong foundation built by the Diploma. Being a self-study programme, it has the flexibility that practitioners can start their study at any time convenient to them and there is no compulsory requirement on class attendance, though classes are organised and encouraged to ensure a systematic preparation for the examination.
Anyone who is a member of the Institute is entitled to enroll and take the examination. The examination consists of four subjects and is run twice yearly. The Spring examination is usually held at the end of May and beginning of June and the Autumn examination at end of November and beginning of December.
THE EXAMINATION
The Diploma qualifying examination consists of four subjects. You can take the four subjects in any order that fits you and your work. The examinations are held twice a year and all four subjects are made available in each examination. Each subject has one two-hour paper and is in conventional essay style format. You will need to study for about four hours a week over a five months period for each subject you take.
The Diploma is designed to upgrade junior
practitioners’ knowledge in basic technical insurance knowledge. It lays a very good
foundation for those who want to pursue their further professional study. Click here to read the syllabuses for the four Subjects.
REVISION CLASSES
The Diploma can be achieved through self-study. There is no
requirement for class attendance. However, to cater for those who prefer to have oral
tuitions, we have arranged with the "Institute of Professional Education And Knowledge" (PEAK) of the Vocational Training Council to run revision classes
if there is a viable number to form a class (normally 15). The classes normally start five
months before the actual examination dates. For enquiry, please contact the Centre at 2836
1922 or visit their homepage.
TIME-LIMIT FOR COMPLETION
OF THE EXAMINATION
There is no time limit set for passing the subjects i.e. a
member will not be time-barred and their credits taken away for not passing all four
subjects within a specified period of time.
EXEMPTION & FEE
The Institute is prepared to allow a dispensation in the
subject Legal Principles provided an exemption for this subject has already been obtained
from the Chartered Insurance Institute (CII Subject 020 or 021 under their old syllabus,
or Subject 520 under their current syllabus). No other subject dispensation is allowed.
The application for exemption to the Education and
Examination Committee must be accompanied by an exemption application fee of HK$400
(subject to revision without notice) in favour of the Institute.
EXTERNAL RECOGNITION
The Chartered Insurance Institute (CII)
Holders of the IIHK Diploma in Insurance Studies will be eligible to apply for the following CII credits.
| IIHK Diploma in Insurance Studies module |
CII Accreditation available |
| Introduction to Insurance |
10 non unit specific credits at Diploma in Insurance level |
| Principles and Practice of Insurance |
20 non unit specific credits at Diploma in Insurance level |
| Legal Principles |
10 non unit specific credits at Diploma in Insurance level |
| Insurances of the Person |
20 non unit specific credits at Diploma in Insurance level |
| Total |
60 non unit specific credits at Diploma in Insurance level |
Note: The CII reserves the right to make, amend and or withdraw credit awards for prior learning. Under no circumstances will the CII or IIHK accept any liability for consequential indirect or special losses/ damages of any kind arising out of or in any way connected with the awarding or withdrawal of credit awards for prior learning.
The Australian& New Zealand Institute of Insurance & Finance (ANZIIF)
The ANZIIF allows two subjects (Subject FS 1402 Insurance Law and Regulation and FS 1403 Insurance Products) from their Associateship qualifying examination.
The Insurance Authority's IIQAS qualifying
examination, Hong Kong (IIQAS)
Hong Kong's Insurance Intermediaries Qualification Examination
Diploma holders are granted full exemptions on all insurance papers
viz .
| Part I - |
Principles and Practice of Insurance |
| Part II - |
General Insurance
Long-Term Insurance |
ENTRY REQUIREMENT
FOR THE EXAMINATION
| i) |
Current member of the Insurance
Institute of Hong Kong (membership application), and |
| ii) |
Payment of the appropriate examination fees AND at least one of the following: |
|
a) |
Academic qualifications at least equal to FOUR GCSE "C" or FOUR HKCEE "E" or above; |
|
b) |
Other academic qualification approved by the IIHK Committee; |
|
c) |
Age 23 or above at time of registration for examination. |
ENROLLMENT PROCEDURE
Enrollment invitation will be sent to all Institute members and insurance companies three to four weeks before the examination. If you are interested in enrolling into the next examination, please click here to download
Please note the deadline for the enrollment. The
examination venue will be advised to you via the Examination Permit.
EXAMINATION TIMETABLE
The following is the timetable for the next examination:
Subjects |
Date of Exam. |
Time |
| i) Introduction to Insurance |
(100) |
|
May 31, 2012 |
6:30 pm – 8:30 pm |
| ii) Legal Principles |
(120) |
|
June 1, 2012 |
6:30 pm – 8:30 pm |
| iii) Principles & Practice of Insurance |
(110) |
|
June 7, 2012 |
6:30 pm – 8:30 pm |
| iv) Insurances of the Person |
(130) |
|
June 8, 2012 |
6:30 pm – 8:30 pm |
EXAMINATION FEE
Every examination enrollment entails two fees. A single
registration fee will be charged for every enrollment irrespective of the number of
subjects taken in an examination and an examination fee according to the number of
subjects entered in that examination.
The fees are as follows:
Registration fee: HK$400
Examintion fee: HK$400 per subject
The fees paid are not refundable and cannot be transferred
for use in the next examination. Periodical adjustment of the fees may have to be made to
keep up with the costs in running the examinations.
EXAMINATION MARK
REVIEW
If a candidate wants the Institute to review an examination
grade, the candidate should submit an application to the Education and Examination
Committee with a fee of HK$100 (subject to revision without notice), which will be
refunded if the original grade is amended to a pass. The application for review must be
submitted within two weeks of the results being dispatched.
SCHOLARSHIP &
PRIZES
Every year the Institute will award the best candidate of
the year with the Insurance Institute of Hong Kong Scholarship. The award is presented in
the Annual Dinner of the Institute. In addition, the Institute also gives prizes to good
performers in overseas professional examinations and students pursuing insurance studies
in local tertiary institutes to help promote insurance education and professionalism in
the industry.
INCLEMENT WEATHER
Bad weather condition
- No examination will be held in case Typhoon signal no. 8 or
Black Rainstorm warning signal was hoisted two hours before an examination. The
revised examination date and time will be notified by mail as soon as possible.
- If, however, a Typhoon signal no. 8 or a Black Rainstorm
warning signal was hoisted at the time when an examination was in progress, the
examination session shall continue and be completed unless the physical conditions of the
venue are considered to be dangerous by the chief examination invigilator.
SYLLABUSES & ESSENTIAL
READINGS
The four subjects for the Diploma qualifying examination
are:
- Introduction to Insurance
- Principles and Practice of
Insurance
- Legal Principles
- Insurances of the Person
ENROLLMENT FORM
The enrollment for the next examination will start from now until 16th May 2012. You can click here to download a copy of the Enrollment Form for the examination. Please note our policy on examination fee and enter the correct date of examination in the Form. The completed Form and cheque for the examination fee can be sent to:
The Insurance Institute of Hong Kong
Room 1705, Beverly House
93-107 Lockhart Road
Wanchai, Hong Kong
INTRODUCTION TO
INSURANCE - syllabus
| 1. |
Basic Concepts of Risk |
|
a) |
Concept of Risk |
|
b) |
Role of Statistics |
|
c) |
Classifications of Risk |
|
d) |
Insurable and Uninsurable Risks |
| 2) |
Risk Management |
|
a) |
Concept and Methodology |
|
b) |
Personal and Corporate Risk
Management |
| 3) |
Development of Insurance and its
Mode of Operation |
|
a) |
Basic concept and operation of
insurance |
|
b) |
Historical developments and scope |
|
c) |
Present scene and scope |
| 4) |
Classifications and Categories of
Insurance |
|
a) |
Traditional and contemporary
classifications |
|
b) |
Major classes of business |
|
|
i) |
Marine (hull, cargo, pleasure craft) |
|
|
ii) |
Life (life, medical) |
|
|
iii) |
Fire (fire, consequential loss, household,
extra perils, package policy) |
|
|
iv) |
Accident (‘All Risks”, fidelity
guarantee, personal accident, travel, employers’ liability, public liability,
products liability, professional indemnity, theft, glass, money, bonds) |
|
|
v) |
Motor |
|
|
vi) |
Engineering (boiler, machinery breakdown,
“CAR”, “EAR”) |
|
|
vii) |
Aviation |
| 5) |
Insurance Markets Worldwide |
|
a) |
Transactions at Lloyd’s and
other World Markets |
|
b) |
Brief introduction to
International Broking |
| 6) |
The Hong Kong Insurance Market and
Associations |
|
a) |
Local buyers, intermediaries and suppliers of
insurance |
|
b) |
Local market associations and insurance trade
organisations |
| 7) |
The Hong Kong Statutory and self-regulatory
provisions affecting Insurance |
|
a) |
The role of Hong Kong Government in
supervising the insurance industry |
|
b) |
The essence of the Insurance Companies
Ordinance, 1983 |
|
c) |
Industry self-regulatory framework |
|
d) |
Code of Conduct for Insurers and the Insurance
Claims Complaints Bureau |
|
e) |
The regulation of insurance intermediaries in
Hong Kong |
| 8) |
Reinsurance |
|
a) |
General Principles and Concepts of Reinsurance |
|
b) |
Terminologies and types of reinsurance |
Essential Readings for Introduction to Insurance:
Lloyd’s of London Press - Introduction to Insurance, D.
S. Hansell
Study Notes for the Insurance Intermediaries Qualifying
Examination ( Principles and Practice of Insurance, General Insurance)
PRINCIPLES &
PRACTICE OF INSURANCE - syllabus
| 1. |
The legal principles affecting
insurance |
|
a) |
The essentials of insurance contracts |
|
b) |
Specific legal principles:
| 1. insurable interest |
2. utmost good faith |
| 3. proximate cause |
4. indemnity |
| 5. subrogation |
6. contribution |
|
| 2. |
Documents used in insurance and
their contents |
|
a) |
Proposal / Application forms |
|
b) |
Slips, cover notes and certificates of
insurance |
|
c) |
Structure and content of policy :
Endorsements : Construction of policies |
|
d) |
Renewal notices |
|
e) |
Claim documents |
| 3. |
Underwriting |
|
a) |
Underwriting process |
|
b) |
Consideration of moral/physical hazards |
|
c) |
Surveys and medical reports |
| 4. |
Premiums: calculation, bases, refunds etc. |
|
a) |
Fixing of sum insured/limit of indemnity |
|
b) |
Fixing of premium |
|
c) |
Policy cancellation and premium refunds |
|
d) |
Levies |
| 5. |
Renewal considerations and obligations |
|
a) |
Renewal procedures for life and non-life |
|
b) |
Days of grace (Grace period) |
|
c) |
Renewal terms |
|
d) |
Long-term agreements |
| 6. |
Rights and obligations with claims, dispute
procedures |
|
a) |
Insured’s rights & duties: express and implied |
|
b) |
Proof of loss |
|
c) |
Investigation of claims |
|
d) |
Claim settlement considerations |
|
e) |
Ex-gratia payments |
|
f) |
Resolving claims’ disputes |
|
g) |
Reinstatement of the sum insured |
| 7. |
Loss and other reserving |
|
a) |
Purpose and types of reserves |
|
b) |
Unearned premium reserves |
|
c) |
I.B.N.R. |
| 8. |
Marketing insurance and customer services |
|
a) |
Insurance consumer |
|
b) |
Consumers’ needs |
|
c) |
Information before purchase |
|
d) |
Servicing of claims handling/renewal |
| 9. |
Application of reinsurance |
Essential Readings for Principles and Practice of
Insurance:
Lloyd’s of London Press - Introduction to Insurance, D.
S. Hansell
Study Notes for the Insurance Intermediaries
Qualifying Examination ( Principles and Practice of Insurance,
General Insurance)
The Chartered Insurance Institute - Principles and Practice of
Insurance, Steele John T
John Murray - Success in Insurance, Diacon and Carter
LEGAL PRINCIPLES - syllabus
| 1) |
The nature, types, systems,
functions and purpose of law |
|
a) |
Natural and imperative law |
|
b) |
Local and international law |
|
c) |
Function and purpose of law |
| 2) |
Distinction between civil and
criminal law |
|
a) |
Need for a system of justice |
|
b) |
Distinction between civil and criminal
justice |
|
c) |
Purpose of civil and criminal justice |
| 3) |
Sources of law |
|
a) |
Basic Law |
|
b) |
Common law and the doctrine of precedent |
|
c) |
Equity |
|
d) |
Legislation |
| 4) |
The nature of legal rights,
wrongs and duties |
|
a) |
Legal rights |
|
b) |
Liberties, powers and immunities |
|
c) |
Personal Data (Privacy) Ordinance |
| 5) |
The nature of personality in law |
|
a) |
Natural and legal persons |
|
b) |
Corporation and unincorporation associations |
| 6) |
The nature and kind of liability
(civil and criminal) |
|
a) |
Compensatory and penal liability |
|
b) |
Tortious liability |
|
c) |
Vicarious liability and strict liability |
|
d) |
Causation |
|
e) |
Intention and criminal liability |
|
f) |
Measurement of civil and criminal liability |
| 7) |
The nature and kinds of property |
|
a) |
Ownership of property |
|
b) |
Possession of property |
|
c) |
Tangible and intangible property |
|
d) |
Acquisition of property |
| 8) |
The nature and kinds of
obligations (Contracts, agency etc.) |
|
a) |
Elements of the law of contract |
|
b) |
Elements of the law of agency |
| 9) |
The administration of justice in
Hong Kong SAR (Institutions) |
|
a) |
Hierarchy of courts in Hong Kong SAR |
|
b) |
Legal Aid |
| 10) |
The administration of justice in
Hong Kong SAR (Procedures) |
|
a) |
Brief outline of civil procedures in Hong
Kong SAR |
|
b) |
Brief outline of criminal procedures in Hong
Kong SAR |
| 11) |
Related legislation and its
application in insurance |
|
a) |
Protection of Personal Data |
|
b) |
Equal Opportunity |
|
c) |
Prevention of Money Laundering |
Essential Readings for Legal Principles:
Sweet & Maxwell – Business Law in Hong Kong, edited by Prof D K Srivastava
Longman – An Introduction to Hong Kong Business Law, Vanessa Stott
Sweet & Maxwell – Introduction to Law in the Hong Kong SAR, Ian Dobinson and Derek Roebuck
Study Notes for the Insurance Intermediaries Qualifying
Examination (Principles & Practice of Insurance)
INSURANCES OF THE PERSON
- syllabus
| 1) |
The principles of insurance as applied to
insurances of the person: Life insurance; Annuity contracts; Sickness and Permanent Health
contracts; Universal Life insurance; Hospitalisation and Medical insurances. |
| 2) |
The application of insurable interest to
insurances of the person |
| 3) |
The nature, purpose and scope of traditional
and non-traditional life policies |
| 4) |
The nature, purpose and scope of group life
and pension schemes. |
| 5) |
The nature, purpose and scope of personal
accident and sickness insurance |
| 6) |
How common forms of contract can be used to
meet specific needs |
| 7) |
Life premium systems and the calculation of
life premiums |
| 8) |
The Hong Kong tax treatment of premiums and
benefits in insurance of the person |
| 9) |
Customary Hong Kong policy wordings, clauses
and policy riders and outline underwriting practice in insurances of the person |
| 10) |
The Hong Kong market for insurances of the
person: Insurers; Intermediaries; Central Associations; Government requirements and
supervision; Customer protection – cooling-off period, policy switching, sales
illustrations for linked and non-linked policies |
| 11) |
The principal features of industrial life
insurance. |
Essential Readings for Insurances of the Person
Life Management Institute - Principles of Insurance: Life,
Health, and Annuities
Chartered Insurance Institute – Study course P86 Personal Insurances (mainly the parts on personal accident Insurance in these two books)
Study Notes for the Insurance Intermediaries Qualifying
Examination (Long-term Insurance) |
