Qualifying examination for intermediaries
The qualifying examination for enrolment under section A or B of the Register of insurance, reinsurance and ancillary insurance intermediaries, is announced by IVASS at least once a year, with the order published, also in the form of a communication, in the Official Journal of the Italian Republic and in full in the Official Bulletin and on the website of IVASS.
To be admitted to the qualifying examination candidates are required to have, on the deadline date for submission of applications, a level of education not lower than a certificate of advanced secondary education, awarded on completion of a course of study of five years or of four years supplemented by the one-year course envisaged by the law or of a foreign equivalent certificate.
The written test shall consist in multiple-choice questions.
The test for candidates proposing to pursue insurance mediation shall cover the following subjects:
a) insurance law, including the regulations issued by IVASS;
b) provisions on supplementary pension plans;
c) provisions governing the activity of agent and broker;
d) insurance technique;
e) provisions governing consumer protection;
f) a knowledge of private law;
g) a knowledge of tax law applying to insurance and supplementary pension plans.
The test for candidates proposing to pursue reinsurance mediation shall cover the following subjects, in addition to those indicated above:
h) provisions governing reinsurance contracts and types of reinsurance;
i) reinsurance technique.
Candidates proposing to pursue reinsurance mediation who are already registered under sections A or B of the register or who are already qualified for the pursuit of insurance mediation, shall have to pass the test only in the subjects referred to under h) and i).
Candidates who have obtained a mark not lower than 60/100 shall be considered suitable.
The selection board for the qualifying examination shall be appointed by IVASS Order and shall be made up of:
- at least one IVASS director, one of whom holds the chair;
- at least one IVASS expert or specialist;
- at least two university professors, experts in technical, legal, economic and financial matters that are applicable to the activities in question, one of whom chosen by IVASS from among a sufficiently broad group of names submitted jointly by the main trade associations.
Secretarial services shall be provided by one or more employees of IVASS.
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