Hk-iiqe-paper-5 Practice Questions - IIQE Paper V - Investment-linked Long Term Insurance Examination Exam

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Which of the following best describes the characterisation of an Investment-Linked Assurance Scheme (ILAS) under Hong Kong regulatory guidelines?

It is classified as a collective investment scheme under the SFO, but is exempt from all insurance regulations. It is a class of long-term insurance business (Class C) under the Insurance Ordinance, which also constitutes a structured investment product regulated under the Securities and Futures Ordinance (SFO). It is a pure banking deposit product with insurance riders, subject only to HKMA supervision. It is a general insurance product (Class G) designed to indemnify policyholders against investment losses.

Correct Answer:

It is a class of long-term insurance business (Class C) under the Insurance Ordinance, which also constitutes a structured investment product regulated under the Securities and Futures Ordinance (SFO).

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