IIQE vs HKSI Exams: Which One Is Yours?
Updated
As at 31 Oct 2026, the IIQE qualifies insurance intermediaries, who are licensed by the Insurance Authority, while the HKSI Licensing Examinations qualify people applying to the Securities and Futures Commission (SFC) for a licence to carry on securities and futures regulated activities. Which exam you sit depends on who will license you, not on the products' names.
Side by side
| IIQE | HKSI Licensing Examinations | |
|---|---|---|
| For | Insurance agents, technical representatives and brokers | SFC licensed representatives and responsible officers |
| Regulator | Insurance Authority | Securities and Futures Commission |
| Typical papers | Paper 1 plus Paper 2, 3 or 5 | Paper 1 plus the paper for your regulated activity |
| MPF | Separate MPF Intermediaries Examination | Separate MPF Intermediaries Examination |
Where the MPF exam fits
The MPF Intermediaries Examination is separate from both. It is offered by the VTC's PEAK Exam Centre (MPF Schemes Examination) or HKSI Institute (MPF Intermediaries Examination); either qualifies; which providers the MPFA currently recognises is to be confirmed on the MPFA's registration requirements page before you book. See the MPF exam guide.
If you need both
Some roles need an insurance licence and an SFC licence. Start with the paper your first role needs: for the insurance side read the IIQE Paper 1 guide and which IIQE papers do I need. For the SFC papers, our sister site HKSI Prep covers the HKSI Licensing Examinations.
Not sure where you stand on the insurance side? Sit the free mock.
Frequently asked questions
What is the difference between the IIQE and the HKSI exams?
The IIQE qualifies insurance intermediaries (regulated by the Insurance Authority). The HKSI Licensing Examinations qualify people seeking a licence from the Securities and Futures Commission (SFC) for securities and futures regulated activities.
I sell investment-linked insurance. Do I need an HKSI paper?
Selling ILAS as an insurance intermediary is an IIQE matter (Paper 5 alongside the other papers you need). An HKSI paper matters only if you also need an SFC licence, for example to deal in or advise on securities.
Who runs the MPF Intermediaries Examination?
HKSI Institute offers an MPF Intermediaries Examination, and the VTC has offered an MPF Schemes Examination; which providers the MPFA currently recognises is to be confirmed on the MPFA's registration requirements page before you book.
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Start practising →IIQE Prep is an independent study service, not affiliated with or endorsed by the Insurance Authority, the IIQE administrator (the Vocational Training Council) or the Mandatory Provident Fund Schemes Authority (MPFA). 'IIQE' and 'MPF' are used only to describe the examinations.