From 9 September 2022 onwards, RIME will be offered to the public as a permanent option for taking the following IIQE papers:
(1) the Principles and Practice of Insurance (P&P) paper,
(2) the General Insurance (GI) paper, and
(3) the Long Term Insurance (LT) paper.
RIME is only available to individuals who are not existing licensees but who wish to be licensed by the Insurance Authority (“IA”). Individuals who are already licensed to carry on regulated activities in certain lines of business cannot rely on RIME results for the purpose of varying their line of business.
Candidates who pass the relevant RIME papers would be considered, for the purposes of licensing, as having passed the equivalent IIQE papers, such that they can be granted an intermediary licence by the IA to carry on regulated activities in the lines of business that passing these papers would permit, subject to the fulfillment of all other applicable licensing requirements. However, within 18 months counting from the date of passing the RIME paper (“the 18-month period”), candidates must also:
i) attend a tailor-made course to be administered by VTC for the relevant IIQE paper (a certain number of CPD hours will be available for such course) (please refer to the PEAK website for details; or
ii) pass the relevant original IIQE paper.
Or otherwise, their licence will expire upon the expiry of the 18-month period.
The examination fee of RIME is HK$850 per paper. RIME is provided on a biweekly basis. Seats are limited for each session. Candidates can take the RIME remotely at home or at a private location of their choice on their own computers (provided they are in a quiet and well-lit private room, and have a stable internet connection, a webcam, microphone and speaker, which enables remote invigilation to take place).
Candidates should read the Examination Handbook of RIME carefully and make sure they meet the requirements set out on the Examination Handbook (RIME), especially the Technical (section 3 and Appendix III) and Environment Requirements (section 4) for the RIME, and the Intermediary Licensing Requirements (section 2.1.6) after the RIME, before enrolment.
For the enrolment, please press here.
17 Aug 2022