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Introduction
The IFMP Non-Life Insurance Agents Foundation Course covers the concepts of structure and management, regulatory framework and ethics, associated risks, governing laws, types and mechanism, documentation and selling of Insurance products. This course is primarily aimed towards sales staff of General Insurance companies and banks selling/ distributing General Insurance.
Objective of the Examination
The objective of this course is to equip the trainee with the knowledge and skills which enable them to perform as insurance distribute efficiently and effectively.
Target Audience
This exam will be mandated for sale staff of Non-Life Insurance companies and banks selling/ distributing Non-Life Insurance.
Syllabus Structure
The unit is divided into elements. These are broken down into a series of learning objectives. Each learning objective begins with one of the following prefixes: know, understand, be able to calculate and also be able to apply. These words indicate the different levels of skill to be tested. Learning objectives prefixed:
- know require the candidate to recall information such as facts, rules and principles
- Understand require the candidate to demonstrate comprehension of an issue, fact, rule or principle.
- Be able to calculate require the candidate to be able to use formulae to perform calculations.
- Be able to apply require the candidate to be able to apply their knowledge to a given set of circumstances in order to present a clear and detailed explanation of a situation, rule or principle.
Examination Specification
Each examination paper is constructed from a specification that determines the weightings that will be given to each element. The specification is given below.
It is important to note that the numbers quoted may vary slightly from examination to examination as there is some flexibility to ensure that each examination has a consistent level of difficulty. However, the number of questions tested in each element will not change by more than plus or minus 2. This comprises of 100 multiple choice questions.
| Element No. | Elements | Questions |
|---|---|---|
| 1 | Introduction to Insurance | 10 |
| 2 | Insurance Companies: Structure and Management | 10 |
| 3 | Insurance Regime in Pakistan: Regulatory Framework and Ethics | 10 |
| 4 | Risk and Risk Management | 10 |
| 5 | Governing Law and Contractual Provisions | 10 |
| 6 | Types of General Insurance and its Mechanisms | 15 |
| 7 | I Introduction to Islamic Insurance / General Takaful | 10 |
| 8 | Underwriting, Claim and Withdrawals | 10 |
| 9 | Insurance Selling: Career and Processes and Personal Grooming | 15 |
| Total | 100 |
Assessment Structure
- This will be a two-hour examination of 100 Multiple Choice Questions (MCQs).
- All questions will carry equal marks.
- There will be no negative marking.
Summary Syllabus
To download the summary syllabus of Non-Life Insurance Agent’s Foundation Course, please click here.
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