How to Register for IIQE Paper 5 Exam (2026 Step-by-Step Guide)
Complete guide to registering for the IIQE Paper 5 (Investment-Linked Long Term Insurance) exam in Hong Kong. Learn how to book via PEAK, understand the higher exam fee, and what to bring on exam day.
Ready to take the IIQE Paper 5 exam?
IIQE Paper 5 (Investment-Linked Long Term Insurance) is widely regarded as the most challenging paper in the IIQE series, with a pass rate of approximately 53%. Before you sit for it, you need to register through the official PEAK Examination Centre Online Enrolment System.
This guide walks you through the entire registration process — and helps you plan your preparation timeline for this demanding exam.
📋 Quick Facts
- Prerequisites: None — open to everyone
- Registration: Online only via PEAK
- Exam Fee: HK$390 (CSME) — higher than Papers 1–3
- Booking Advice: At least 2–3 weeks in advance
- Pass Rate: ~53% (the hardest IIQE paper)
Prerequisites for IIQE Paper 5
Good news: there are no prerequisites for IIQE Paper 5.
Despite being the most technical paper in the IIQE series, the exam is open to the public. You don't need:
- Any prior qualifications or other IIQE passes
- Work experience in insurance or finance
- Employer sponsorship
- Completion of any preparatory courses
Anyone can register and sit for the exam. However, given the exam's difficulty level and its heavy focus on technical financial terminology and investment concepts, we strongly recommend thorough preparation before booking your slot.
(For study strategies, see our Complete IIQE Paper 5 Study Guide.)
Where to Register
All IIQE exam registrations are done online through the PEAK (Institute of Professional Education And Knowledge) online enrolment system.
Official Registration Portal:
This is the only official channel. Do not use third-party websites.
Before You Start: What You'll Need
Have the following ready before starting your registration:
- ✓ Hong Kong Identity Card or Passport
- ✓ Credit Card (Visa, Mastercard, or UnionPay)
- ✓ Hong Kong Mobile Phone Number (for emergency contact)
- ✓ Email Address (for confirmation)
Step-by-Step Registration Process
Step 1: Go to the PEAK Online Enrolment System
Visit the official PEAK registration portal:
Step 2: Select Your Paper and Time Slot
- Choose your exam paper from the dropdown — select "Paper V - Investment-Linked Long Term Insurance"
- Select your preferred exam mode (CSME recommended)
- Choose an available time slot from the dropdown
⚠️ Book Early: Exam slots are allocated on a first-come, first-served basis. Given that Paper 5 has fewer sessions available than Papers 1–3, book at least 2–3 weeks in advance to secure your preferred date.
Step 3: Enter Your Personal Details
Fill in your information accurately:
- Surname and given name (must match HKID exactly)
- HKID card number
- Date of birth
- Hong Kong mobile phone number
- Email address
⚠️ Important: Your name must match your HKID or passport exactly. Any discrepancy may prevent you from taking the exam.
Step 4: Pay and Receive Confirmation
| IIQE Paper | CSME Fee |
|---|---|
| Papers I, II, III | HK$265 |
| Paper V (Investment-Linked) | HK$390 |
💡 Note on Fees: Paper 5's exam fee (HK$390) is significantly higher than Papers 1–3 (HK$265). This reflects the longer exam duration (120 minutes vs. 75 minutes) and larger question count (80 vs. 50–75 questions). Make sure your preparation is thorough — you don't want to pay this fee twice.
Payment is via credit card (Visa, Mastercard, or UnionPay). After successful payment, you'll receive a confirmation email with your exam details.
Understanding the Paper 5 Exam Format
Before you register, make sure you understand what you're signing up for:
| Full Name | Investment-Linked Long Term Insurance |
| Questions | 80 Multiple Choice (MCQ) |
| Duration | 2 Hours (120 minutes) |
| Passing Score | 70% (56 correct answers) |
| Format | Choose 1 answer from 4 options |
| Exam Fee (CSME) | HK$390 |
| Pass Rate | ~53% (one of the lowest among IIQE papers) |
| Prerequisites | None — open to the public |
(For a detailed breakdown of the exam format and passing strategy, read our IIQE Paper 5 Passing Score & Format Guide.)
ExamPrep.hk provides instant feedback with detailed explanations for every Paper 5 question — essential for mastering complex investment concepts.
What to Bring on Exam Day
✓ Required Documents
- HKID Card (or passport for non-residents)
- Exam confirmation (printed or on phone)
- Quick reference notes (review your key terminology flashcards one last time before entering the exam centre)
✗ Not Allowed
- Mobile phones (must be switched off and stored)
- Smart watches or electronic devices
- Notes, books, or study materials
- Calculators (not needed for this paper)
Exam Day Tips for Paper 5
- Arrive 30 minutes early — late arrivals may be refused entry
- Read each question carefully — Paper 5 tests precise definitions of technical terms; one wrong word in the options can change the answer
- Manage your time carefully — 120 minutes for 80 questions means 90 seconds per question
- Flag tricky terminology questions — in CSME mode, return to complex concept questions at the end
- Use the restroom before — you cannot leave during the exam
After Registration: Start Preparing Immediately
With a ~53% pass rate, Paper 5 demands serious preparation. Don't wait until the last minute.
Recommended Timeline
- 4 weeks before: Start studying — focus on Chapters 3 and 4 (66% of the exam)
- 3 weeks before: Cover Chapter 2 (Investments fundamentals) and Chapter 5 (Regulatory Framework)
- 2 weeks before: Begin practice questions — try our IIQE Paper 5 sample questions to see what to expect
- 1 week before: Take full mock exams (80 questions, 120-minute timer)
- Day before: Light review only — get good sleep
📚 Start Your Preparation
Now that you've registered, it's time to prepare for the toughest IIQE paper. Our platform offers 800+ practice questions with detailed explanations covering investment concepts, ILAS policy mechanics, and dual IA+SFC regulation — everything you need to pass.
👉 Start Practising Now
ExamPrep.hk's Practice by Chapter mode lets you focus on the killer chapters (Ch3 & Ch4) that make up 66% of the exam.
Important Rules to Know
⚠️ No Rescheduling or Cancellation
- Once enrolment is submitted, rescheduling is NOT allowed
- Cancellation is NOT allowed
- Fees are NOT refundable or transferrable
- At HK$390 per attempt, failed preparation is expensive
- Incomplete applications without payment will not be processed
Enrolling for Multiple Papers
You can enrol for more than one IIQE paper at the same time, but consider this:
- Paper 5 requires dedicated study time — don't try to prepare for multiple technical papers simultaneously
- Many candidates take Paper 1 first (general insurance principles) before tackling Paper 5
- If you're also taking Paper 3 (Long Term Insurance), note that Paper 5 builds on similar concepts but with more technical depth
- CSME: Cannot enrol for the same session of the same paper more than once
Summary: Registration Checklist
- ☐ Prepare HKID, credit card, phone number, and email
- ☐ Go to PEAK online enrolment system
- ☐ Select Paper V and choose time slot (book 2–3 weeks ahead)
- ☐ Pay HK$390 (CSME) via credit card
- ☐ Enter personal details (must match HKID exactly)
- ☐ Save confirmation email
- ☐ Review key terminology flashcards for Chapters 3 and 4
- ☐ Start studying immediately — allow at least 4 weeks for this paper
For exam preparation tips, read our Complete IIQE Paper 5 Study Guide. Want to understand the difficulty level? Read Is IIQE Paper 5 Difficult? For a comparison of the best study tools, see our IIQE Paper 5 mock exams & study guides review.
ExamPrep.hk's Quick Guide breaks down complex investment concepts into clear, manageable study chunks.
IIQE Paper 5 Registration FAQ
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