MPF Intermediaries Exam: Format & Topics
Updated
As at 31 Oct 2026, the MPF Intermediaries Examination is listed as 80 multiple-choice questions in 2 hours, with a pass mark of 70% (PEAK MPFE Handbook §2.2.1 (1 Sep 2026); HKSI MPF Intermediaries Examination page). It is the examination people sit to register as MPF intermediaries, and it is separate from the IIQE.
MPF exam format at a glance
| MPF Intermediaries Examination | |
|---|---|
| Questions | 80 multiple-choice |
| Time | 2 hours |
| Pass mark | 70% |
| Offered by | the VTC's PEAK Exam Centre (MPF Schemes Examination) or HKSI Institute (MPF Intermediaries Examination); either qualifies |
Is the MPF exam part of the IIQE?
No. The Insurance Authority's IIQE page says the MPF Schemes Examination ceased to be part of the IIQE with effect from 2 May 2013. The Mandatory Provident Fund Schemes Authority (MPFA) now specifies the examination for MPF intermediaries. Many insurance agents sit both: IIQE papers for their insurance licence, and the MPF exam to sell or advise on MPF schemes.
What the MPF exam covers
- Introduction to the MPF System. Why Hong Kong needs retirement protection, the World Bank pillars and the MPF System's salient features. Chapter 1 of the MPF Study Notes, Tenth Edition (June 2026); official weight 1%.
- Regulatory Framework. The MPFA and the other regulators; the MPFSO (Cap. 485) and its regulations, codes and guidelines. Chapter 2 of the MPF Study Notes, Tenth Edition (June 2026); official weight 6%.
- Key Features of the MPF System. Security of assets, scheme types, coverage and exemptions, eMPF registration and enrolment, contributions and relevant income levels, vesting, preservation, portability, withdrawal, unclaimed benefits, the abolition of offsetting and employer obligations. Chapter 3 of the MPF Study Notes, Tenth Edition (June 2026); official weight 43%.
- MPF Trustees. The trust concept, trustees' duties, approval, monitoring, compliance standards and sanctions. Chapter 4 of the MPF Study Notes, Tenth Edition (June 2026); official weight 5%.
- MPF Schemes and Investment. Constituent funds, the MPF Conservative Fund, the Default Investment Strategy, APIFs, investment standards, fees and disclosure, and basic investment concepts. Chapter 5 of the MPF Study Notes, Tenth Edition (June 2026); official weight 17%.
- ORSO / MPF Interface. ORSO registered and exempted schemes, MPF-exempted ORSO schemes and their interface with the MPF System. Chapter 6 of the MPF Study Notes, Tenth Edition (June 2026); official weight 4%.
- MPF Intermediaries. Registration of principal and subsidiary intermediaries, the frontline regulators, conduct requirements and the Guidelines on Conduct Requirements for Registered Intermediaries. Chapter 7 of the MPF Study Notes, Tenth Edition (June 2026); official weight 20%.
- Introduction to the eMPF Platform. The eMPF Platform's objective, implementation, the straight pass-on of cost savings and MPFA oversight. Chapter 8 of the MPF Study Notes, Tenth Edition (June 2026); official weight 2%.
- Introduction to ESG. ESG, its relevance to MPF investing, MPFA measures and ESG constituent funds. Chapter 9 of the MPF Study Notes, Tenth Edition (June 2026); official weight 2%.
MPF figures such as contribution rates and income levels change by regulation. Learn them from the MPFA's current pages with the date you checked, not from old notes.
Next steps
Compare the papers in which IIQE papers do I need, read IIQE vs HKSI exams if you also need an SFC licence, then sit a free mock or practise on the MPF exam page.
Frequently asked questions
What is the MPF Intermediaries Examination format?
The MPF Intermediaries Examination is 80 multiple-choice questions in 2 hours, pass mark 70%, from HKSI Institute's exam page as checked on 31 Oct 2026.
Is the MPF exam part of the IIQE?
No. The Insurance Authority's IIQE page says the MPF Schemes Examination stopped being part of the IIQE with effect from 2 May 2013. The MPFA now specifies the examination for MPF intermediaries.
Who needs the MPF exam?
People who want to register as MPF intermediaries, for example insurance agents who will sell or advise on MPF schemes. Registration rules are set by the MPFA, so check its registration requirements before you book.
Put it into practice
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