About Exam
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HKSI LE
The Licensing Examination for Securities and Futures Intermediaries (LE) is a practical examination for individuals who are going to pursue their careers in the Hong Kong securities and investment industry. It is a requirement for licensing of intermediaries conducting 10 types of regulated activity (RA) under The Securities and Futures Ordinance. Candidates should take into consideration which type(s) of RA they would like to carry out and which role, licensed representative or responsible officer, they are going to take so as to decide which exam(s) they need to pass.
Please also note that HKSI is a private profit-making institution which provides approved exams for licensees or license applicants. The Hong Kong SFC is the licensing authority.
A person who has one of the following qualities: ☑ A degree holder majoring in Economics, Finance, Law, Business Administration or Accounting (Regardless of the location and popularity of the university) ☑ A degree holders who passed 2 electives of Economics, Finance, Law, Business Administration or Accounting ☑ Has internationally recognised professional qualifications in Finance, Law or Accounting, examples include Finance Professionals who hold CFA (Chartered Financial Analyst), CFP (Certified Financial Planner)
Should you have any further inquiries on a specific case, please contact Licensing department of the SFC (see pic above)
Once you have registered the exam, you can download the soft copy of the study notes for revision. You may reference this video: https://www.youtube.com/watch?v=p-iGKYJ4SEE
You MUST bring a printout of the relevant Admission Form (single-sided printing, showing all the pages and cannot write or draw on it) AND your valid Hong Kong identity card or Passport. Paper-based exam candidates should also bring your own stationery (HB pencils, erasers, highlighters, authorised electronic calculators except paper of any kind…)
Yes, you can apply for a refund (will deduct administration fee) before the deadline for registration of that exam. Method please see HKSI’s Withdrawal Policy.
HKSI has only released the past paper in 2006: https://www.hksi.org/en/qualification/practising-qualifications/licensing-examination-for-securities-and-futures-intermediaries/past-questions-and-answers/
Please reference this for passing rates: https://www.hksi.org/en/qualification/practising-qualifications/licensing-examination-for-securities-and-futures-intermediaries/pass-rate-for-le-in-hong-kong/
IIQE
IIQE is the Insurance Intermediaries Qualifying Examination, a practical examination for individuals who wants to pursue their careers in the Hong Kong insurance industry. It is a requirement for licensing as an intermediary under GL23: Guideline on "Fit and Proper" Criteria for Licensed Insurance Intermediaries under the Insurance Ordinance (Cap. 41) Appendix 1. Candidates should take into consideration which kind(s) of insurance products they are going to sell so as to decide which exam(s) they need to pass.
Category A persons can exempt the IIQE Paper 1, Paper 2, Paper 3, and Paper 6.
Holders of recognized insurance professional qualifications:
- Chartered Life Underwriters (CLU)
- Fellow or Fellow of the Chartered Institute of Insurance (ACII or FCII)
- Senior Associate or Senior Member of the Insurance Institute of Australia and New Zealand (ANZIIF (SnrAssoc) or ANZIIF (Fellow))
- Fellow of the Life Insurance Management Institute (FLMI)
- Fellow of the Institute of Chartered Property Insurance (CPCU)
- Hong Kong Insurance Institute / Chartered Institute of Insurance-Hong Kong Diploma
Hold a qualified actuary qualification:
- Member of the Institute of Actuaries (FIA)
- Member of the Scottish Actuary Academy (FFA)
- Member of the Australian Institute of Actuaries (FIAA)
- American Actuary Association Member (FSA)
Category B persons can exempt IIQE Paper 5.
Holders of insurance and investment professional qualifications:
- Chartered Life Underwriters (CLU) and must pass one of the alternative CLU eligibility exam papers "HS328 Investment"
- Chartered Financial Advisor (ChFC)
- Certified Financial Planner (CFP)
- Those who have passed the Hong Kong Securities and Investment Institute Basic Course Examination (FPE)
- Those who have passed the Hong Kong Securities and Technical Institutions Diploma Examination (DPE)
- Hong Kong Securities and Investment Institute (HKSI) Practitioner Qualification Certificate (Participate in HKSI Paper 178 and pass)
- Hong Kong Securities and Investment Institute (HKSI) Senior Practitioner Qualification Certificate
- Hong Kong Securities and Technology Institute (HKSI) Professional Diploma in Financial Markets
Hold a qualified actuary qualification:
- Member of the Institute of Actuaries (FIA)
- Member of the Scottish Actuary Academy (FFA)
- Member of the Australian Institute of Actuaries (FIAA)
- American Actuary Association Member (FSA)
People in category C can exempt IIQE Paper 1, Paper 2, and Paper 6.
People who meet all of the following conditions:
- Already engaged in insurance intermediary business in Hong Kong before January 1, 2000
- Hold a general insurance business study certificate issued by the Hong Kong Federation of Insurance Industries (HKFI)
Category D persons are exempted from taking IIQE Paper 1 with experience.
- Already engaged in insurance intermediary business in Hong Kong before January 1, 2000
- Five years of verifiable local insurance experience in the six years prior to January 1, 2000
- Have at least one of the following to have full experience:
o General Insurance IIQE Paper 2
o Long-term insurance IIQE Paper 3
o Travel Insurance IIQE Paper 6
- A maximum of IIQE Papers 1, 2, 3, and 6 can be exempted.
Category D
Insurance intermediaries (limited to persons who have been engaged in insurance intermediary business in Hong Kong before January 1, 2000) have five years of verifiable local insurance experience within six years before January 1, 2000. Those who are exempted from taking IIQE Papers 2, 5, 6 related to the experience; only the general insurance and long-term insurance business have the above-mentioned verification Experienced persons are exempt from participating in all four test papers, namely Paper 1, Paper 2, Paper 3, Paper 6.
Category E people
Those who passed the IIQE Paper 1 and Paper 2 are exempted from IIQE Paper 6 travel insurance.
You may download the soft copy from the VTC Peak Examination Centre https://www.peak.edu.hk/exam/en/page.php?id=262385
Yes. But it must be an approved model.