IIQE Paper 3 Life Insurance Procedures question: some weeks after policy delivery

Answer: B. (i) and (iii)

Answer: (i) and (iii). Statements (i) and (iii) are true; (ii) and (iv) are not.(i) True. English or Traditional Chinese versions are allowed for reference, but the version the customer signs must use Simplified Chinese.(ii) False. For ILAS products the Mainland customer signs both the IFS-MP and the IFS for ILAS.(iii) True. This point-by-point walk-through is required.(iv) False. The insurer chooses when to deliver the copy, but no later than policy delivery.Why not the others:• (i) and (ii): includes (ii), which is false, and leaves out (iii), which is true.• (ii) and (iv): includes (ii) and (iv), which are false, and leaves out (i) and (iii), which are true.• (iii) and (iv): includes (iv), which is false, and leaves out (i), which is true.Watch out: Assuming the IFS-MP stands in for the ILAS statement, or that its copy can follow after the policy.Rule: IFS-MP: signed in Simplified Chinese on every page, explained point by point, copy given no later than policy delivery; ILAS buyers sign both statements.Source: IA Long Term Insurance (Paper III) Study Notes, 2022 Edition (8th ed., June 2022; for exams from 24 Oct 2022), 5.2.10, p. 5/43-5/44