I. Introduction to Investment-linked Policies
- Definition and concept
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Paper 5: Investment-linked Long Term Insurance
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II. Investments
- Risk, return and diversification
- Economics and financial markets
- Objectives, risk tolerance, horizon, liquidity and advice
III. Investment Assets
- Money-market instruments and debt securities
- Equities and market analysis
- Derivatives and real estate
- Investment funds, charges and parties
- Life insurance and annuity
IV. Investment-linked Long Term Insurance Policies
- Characteristics, charges and premium structures
- Unit allocation, withdrawals, surrender and death-benefit calculations
- Fund structures, types and switching
- Benefits, risks, comparison and taxation
- Sales practice, disclosure, illustrations and policy administration
V. Regulatory Framework in Hong Kong
- Insurance Authority and Securities and Futures Commission
- Insurance legislation, intermediary codes and IA guidelines
- Securities legislation, licensing, offers and market misconduct
- AML/CTF and personal data
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Paper 5: Investment-linked Long Term Insurance1 / 20
Which statements about investment risk are correct? I. Diversification can reduce asset-specific risk but cannot remove all market risk. II. Currency movements can change the Hong Kong-dollar value of foreign assets. III. Greater expected return is generally associated with accepting greater risk. IV. Inflation always increases an investment's real purchasing power.
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