Is IIQE Paper 1 difficult?

IIQE Paper 1 has a moderate difficulty level. The content is concept-heavy rather than calculation-based. Most candidates who fail do so because they underestimate Chapter 3 (Principles of Insurance) and Chapter 6 (Regulatory Framework), which together make up 50% of the exam. With focused preparation, most candidates pass on their first attempt.

What is the passing score for IIQE Paper 1?

You need 70% to pass, which means getting at least 53 out of 75 questions correct.

How long should I study for IIQE Paper 1?

We recommend 3 weeks of focused study for candidates with no prior insurance background. If you have industry experience, 2 weeks may be sufficient. The key is consistent practice, not just reading.

Should I take CSME (computer) or PPME (paper) mode?

CSME (Computer) is more popular and convenient — you get results faster and can flag questions for review. It costs HK$265. PPME (Paper) is HK$195 and may suit candidates who prefer writing. Choose based on your comfort level.

Do I need to pass Paper 1 before taking other IIQE papers?

No, there's no mandatory sequence. However, Paper 1 covers foundational concepts that help with other papers, so most candidates take it first.

Where can I find the official IIQE Paper 1 syllabus?

The official syllabus is available on the PEAK website at https://www.peak.edu.hk/exam/en/syllabus.

How to Pass IIQE Paper 1 Exam Hong Kong: Complete 2026 Study Guide

The IIQE Paper 1 (Principles and Practice of Insurance) is the foundational exam for anyone entering Hong Kong's insurance industry. Whether you're joining an agency or switching careers into financial services, this is your first hurdle.

(If you haven't booked your exam slot yet, read our IIQE Paper 1 Registration Guide here.)

Unlike some professional exams that test practical scenarios, IIQE Paper 1 is heavily concept-based. It covers insurance principles, legal frameworks, and Hong Kong's regulatory structure. Many candidates underestimate it — and fail because they spread their study time too thin across all 7 chapters.

If you're trying to memorise the entire PEAK study manual word-for-word, you're studying inefficiently. (See our review of the best IIQE Paper 1 mock exams here.)

This guide covers the 2026 exam strategy, the "Killer Chapters" where most questions come from, and a focused 3-week study plan to help you pass on your first attempt.

✨ TL;DR: The IIQE Paper 1 Passing Strategy

The Scope: 7 Chapters covering insurance principles, legal concepts, and HK regulatory framework.
The Trap: Chapters 3 (Principles of Insurance) and 6 (Regulatory Framework) make up 50% of the exam.
The Score: You need 70% (53/75 questions) to pass.
The Strategy: Focus 70% of your study time on Chapters 2, 3, and 6.

Understanding the Exam: IIQE Paper 1 Format (2026)

IIQE stands for Insurance Intermediaries Qualifying Examination, administered by PEAK (the Institute of Professional Education And Knowledge of Hong Kong).

Full Name	Principles and Practice of Insurance
Questions	75 Multiple Choice (MCQ)
Duration	2 Hours (120 minutes)
Passing Score	70% (53 correct answers)
Format	Choose 1 answer from 4 options
Exam Modes	CSME (Computer): HK$265 / PPME (Paper): HK$195
Prerequisites	None — open to the public

(Read our full breakdown of the IIQE Paper 1 Passing Score & Format here.)

Important: Exam slots are allocated on a first-come, first-served basis. Book at least 2 weeks in advance via the PEAK Online Enrolment System.

The "Killer Chapters": Where Most Questions Come From

The IIQE Paper 1 exam difficulty isn't evenly distributed. Two chapters alone account for half the exam.

Chapter	Topic	Questions	Weight
Ch 3	Principles of Insurance	22	30%
Ch 6	Regulatory Framework	16	21%
Ch 2	Legal Principles	12	16%
Ch 1	Risk and Insurance	9	12%
Ch 4	Core Functions of an Insurance Company	7	9%
Ch 7	Ethical and Other Related Issues	5	7%
Ch 5	Structure of HK Insurance Industry	4	5%

1. Chapter 3: Principles of Insurance (30% — The Big One)

This is the heart of the exam. You must understand:

Utmost Good Faith (Uberrima Fides) — the duty to disclose material facts
Insurable Interest — when and why it must exist
Indemnity — the principle of restoring the insured to their original position
Subrogation & Contribution — how insurers recover losses
Proximate Cause — determining the actual cause of loss

If you only have one week to study, spend most of it here.

2. Chapter 6: Regulatory Framework (21% — The Rules)

Hong Kong's insurance industry is heavily regulated. Expect questions on:

The Insurance Authority (IA) — roles and powers
Insurance Ordinance (Cap. 41) — key provisions
Fit and Proper Criteria — requirements for intermediaries
Conduct Requirements — what agents can and cannot do
Cooling-off Period — when it applies

Many candidates lose marks here because they confuse similar regulatory terms. IIQE Paper 1 Instant Feedback and Explanation

ExamPrep.hk's Instant Feedback and Explanation feature helps you understand the concepts better.

3. Chapter 2: Legal Principles (16% — The Foundation)

This chapter tests your understanding of:

Contract Law Basics — offer, acceptance, consideration
Agency Law — authority of agents
Tort and Negligence — liability concepts

If you have a legal background, this will be straightforward. If not, don't skip it — 12 questions is significant. IIQE Paper 1 Practice by Chapter

ExamPrep.hk's Practice by Chapter mode helps you focus on specific chapters and master the concepts.

Your 3-Week Study Plan

Week 1: The Foundations (Chapters 1, 4, 5, 7)

Focus: Get the "easy" chapters done first.

Topics: Risk concepts, insurance company operations, HK industry structure, ethics.

Strategy: These are fact-based and easier to memorise. Complete them quickly so you can focus on the harder chapters.

Chapter	Questions	Time
Ch 1: Risk and Insurance	9	2 days
Ch 4: Core Functions	7	1 day
Ch 5: HK Industry Structure	4	1 day
Ch 7: Ethics	5	1 day

Week 2: The Killer Chapters (Chapters 2, 3, 6)

Focus: This is where you win or lose the exam.

Topics: Legal principles, insurance principles, regulatory framework.

Strategy: Don't just read — drill questions until you stop making mistakes.

Chapter	Questions	Time
Ch 2: Legal Principles	12	2 days
Ch 3: Principles of Insurance	22	3 days
Ch 6: Regulatory Framework	16	2 days

💡 Pro Tip: Practice by Chapter

Use ExamPrep.hk's "Practice by Chapter" mode to drill specific chapters until you consistently score above 80%.

👉 Start Chapter Practice

ExamPrep.hk's Performance by Chapter mode shows you your weakest chapters after every practice.

Week 3: Full Simulation & Revision

Focus: Time management and exam conditions.

Activity: Take at least 3 full mock exams (75 questions each).

Goal: Finish in 1 hour 45 minutes to leave 15 minutes for review.

Track your weak chapters using ExamPrep.hk's AI-powered analytics. If you're still weak on Chapter 3 or 6, drill those specific topics before exam day. IIQE Paper 1 AI Focus Areas

ExamPrep.hk's AI Focus Areas feature helps you focus your study time on your weakest areas.

Common Mistakes to Avoid

Studying all chapters equally — Chapters 5 and 7 combined are only 12% of the exam. Don't spend equal time on them.
Reading without practising — Passive reading doesn't work for MCQ exams. You need to actively test yourself.
Ignoring the regulatory chapter — Many candidates find Chapter 6 "boring" and skip it. That's 16 questions you're gambling on.
Booking the exam too early — Give yourself at least 3 weeks of focused study. Rushing leads to retakes.

Summary: Focus on What Matters

IIQE Paper 1 is not about memorising everything — it's about mastering the chapters that carry the most weight.

Priority	Chapters	Weight
High	Ch 3, Ch 6, Ch 2	66%
Medium	Ch 1	12%
Low	Ch 4, Ch 5, Ch 7	22%

If you focus your energy on Chapters 2, 3, and 6, you're already covering two-thirds of the exam.

Ready to start practising?

Check out our IIQE Paper 1 Mock Exam Simulator with 1000+ questions and instant explanations for every answer.