IIQE Paper 5 Investment-linked Long Term Insurance Policies question: FNA and RPQ records under GL26

Answer: A. (i) and (ii)

Answer: (i) and (ii). Statements (i) and (ii) are true; (iii) and (iv) are not.(i) True. GL26 makes the insurer hold on to the signed originals of all three documents.(ii) True. For business introduced by authorized institutions and licensed brokers, insurers may accept properly certified copies.(iii) False. The certifying representatives must have no conflict of interest with the sale.(iv) False. Records must be provided for inspection by the IA as soon as practicable upon request.Why not the others:• (i) and (iii): includes (iii), which is false, and leaves out (ii), which is true.• (ii) and (iii): includes (iii), which is false, and leaves out (i), which is true.• (ii) and (iv): includes (iv), which is false, and leaves out (i), which is true.Watch out: Missing the no-conflict-of-interest condition on certifying copies.Rule: Insurers keep the originals; certified copies from banks and brokers are allowed if the certifier has no conflict of interest; records go to the IA promptly on request.Source: IA Investment-linked Long Term Insurance Examination Study Notes, 2024 Edition (7th ed., Nov 2024; for exams from 17 Feb 2025), 4.13.1(h), p. 4/31