IIQE Paper 1 Practice Questions by Topic

The concept of risk (meaning, classification, risk management) and the functions and benefits of insurance. Chapter 1 of the IA Paper 1 Study Notes, 2024 Edition; official weight 12%.

The law of contract (essentials, privity, Cap. 623) and the law of agency (creation, authority, duties, termination); agents versus brokers. Chapter 2 of the IA Paper 1 Study Notes, 2024 Edition; official weight 16%.

Insurable interest, utmost good faith, proximate cause, indemnity (with average, excess and franchise), contribution and subrogation. The heaviest chapter. Chapter 3 of the IA Paper 1 Study Notes, 2024 Edition; official weight 30%.

Product development, customer service, marketing, sales, underwriting, policy administration, claims, reinsurance, actuarial work, accounting and investment, training, and key persons in control functions. Chapter 4 of the IA Paper 1 Study Notes, 2024 Edition; official weight 9%.

Types of business (statutory, practical, academic classifications; reinsurance), insurers, intermediaries and the industry associations. Concepts only, never the dated statistics. Chapter 5 of the IA Paper 1 Study Notes, 2024 Edition; official weight 5%.

The Insurance Ordinance (Cap. 41) and the Insurance Authority; the Code of Conduct for Insurers; complaints bodies; and the licensing regime for insurance intermediaries since 23 Sep 2019. Chapter 6 of the IA Paper 1 Study Notes, 2024 Edition; official weight 21%.

Duties to policyholders, personal data (PDPO), equal opportunity, AML/CTF (AMLO and GL3), corruption (POBO) and insurance fraud. Chapter 7 of the IA Paper 1 Study Notes, 2024 Edition; official weight 7%.