Syllabus Ready for Insurance Agent License, What will be Asked in the Exam?
Kathmandu : The Nepal Insurance Authority is going to start the insurance intermediary (agent) exam from November. The examination, which has been conducted by the company for a long time, will be taken by the authority from the month of October.For the exam, the insurance authority has prepared a syllabus for the agent license exam. When the insurance companies take the agent’s exam, the exam related arrangements are under the prevailing law and the examination sub-committee with experts has prepared the syllabus for the insurance agent’s license exam.
In sub-section 920 of section 92 of the Insurance Act, 2079, it is mentioned that “before obtaining a license, an insurance intermediary must have passed the prescribed examination”.
The authority said that the weightage of the exam should be 100 and the passing score should be 50, the questions should be objective and the weightage of each question should be 2.
The authority has stated that the agent should be provided with a certificate of passing the examination, and the authority can monitor the examination-related activities at any time.
Here is the syllabus
Unit 1, Risk and Risk Management
Insurance, purpose of life and non-life insurance, types of insurance, benefits of insurance, working system of insurance, insurance and feasibilityUnit 3, Insurance Agents
Introduction of insurance agent, type of insurance agent, liability of insurance agent to the insured, liability of the insurance agent to the insured, liability of the insurance agent to the insured, liability of the insurer to the insurance agent, how to become an insurance agent, professional importance of an insurance agent, dismissal of an insurance agent.
Unit, 4 Principles of Insurance
Principle of utmost good faith, principle of insurable interest, principle of indemnity, principle of proximate cause, principle of anticipation, principle of contribution, principles of insurance applicable partially or fully to life insurance Kai 5, Insurance
Introduction, types of life insurance policies, terminology of insurance policies, terms and conditions, individual and group insurance, supplementary agreement.
Participating and Non-Profit Insurance, Insurance Fee Calculation Method Unit 6, Life Insurance Document Proposal Form, KYC Form, Insurance Fee Payment Receipt, Original Document of Insurance, Endorsement, Rider, Notice to Pay or Renewal of Insurance Fee, Renewal of Insurance Document, Other Document
unit 7,
Premiums and Bonuses Calculation of Premiums and Premiums, Calculation of Bonuses and Bonuses, Calculation of Repayment Value and Repayment Value, Calculation of Surrender Value and Surrender Value, Collateralization of Policy, Forfeiture of Policy, Mortality Table Unit 8, Introduction to Risk Assessment.
Classification of risk based on risk assessment, preliminary risk assessment, financial and medical risk assessment, risk assessment process, agent’s confidential report, insured and agent’s monitoring, source of income, insured’s occupational risk, factors affecting risk assessment.
Risk Assessment Guide or Manual, Nomination and Assignment Unit 9, Claim Introduction Claim Process, Claim Related Documents, Claim Payment Process, Role of Insurance Claim Payment Agent, Claim Payment Guide or Manual, Types of Claims, Death Claims, Maturity Claims, Survival Claims, Rider 9 Supplement Contract Claims Unit.
- Life insurance marketing agent’s compensation, customer service, after sale service of policy, service during insurance claim, marketing of life insurance, consumer behavior, ethical marketing and its challenges, mis-selling of policy, misselling, responsibility of insurance agent towards universality.
Legal arrangement unit related to beam agent, 13 insurance market Nepal Insurance Authority, life insurance company, non-life insurance company, insurance agent, insurance surveyor, third party, facilitator, other insurance service provider, insurance information center, insured interest protection fund, insurance bridge, Insurance Development Fund.