United Kingdom  Name of qualification  Fellowship (FCII)  Associateship (ACII)  Educational background  Must hold the Associateship (ACII)  Advanced secondary education  (6years) university entrance  qualification as minimum.  Occupational background  Employment (or self-employment in  insurance for at least five years.)  Two years employment in insurance  as minimum.  For what field of work does this  education qualify graduates?  Professional/senior management  positions – general insurance and  long-term business.  Professional/management positions -  general insurance and long-term  business.  Vocational knowledge and skills  Management and professional  knowledge and skills as relevant to  area of employment and to personal  development of individual.  Managerial knowledge; general  insurance principles; law and  specialist technical knowledge as  relevant to candidates' employment  needs. Technical subjects are  selected by candidates from an  extensive range of options.  Duration of the education  On-going. At least 3 years post ACII.  No minimum or maximum stipulated.  Candidates study at their own pace.  However at least 80 hours' study for  each subject is recommended  How are the examinations  carried out?  No examinations. Candidates must  undertake relevant Continuing  Professional Development and  complete a Personal Development  Plan. Evidence of further develop-  ment by means of a dissertation or  further study required.  10x3 hour examinations comprising  8 short answer and a choice of 4 from  6 case study/problem solving  discursive questions. Unseen, written  examinations at which no reference  materials can be used.  Recognition of the education /  qualification by companies in the  national insur. market  Holders recognised as having  achieved the highest level of  professional qualification in insurance.  Not compulsory for prescribed  positions but individual employers  can recognise attainment by one or  a combination of enhanced job  status and advancement, salary  increases, other reward.  Holders recognised as having  achieved the highest level of  examined qualification in insurance.  Not compulsory for prescribed  positions but individual employers  can recognise attainment by one or  a combination of enhanced job  status and advancement, salary  increase, other reward.  In addition, those seeking to call  themselves "brokers" and therefore  needing to be registered by the  Insurance Brokers Registration Council  (IBRC) must have passed 4 ACII  examinations including one on  Insurance Broking, Active  underwriters at Lloyd's must have  passed the whole ACII programme.  Name of qualification  Certificate of Insurance Practice  (MSTI)  Insurance Foundation Certificate  Educational background  Secondary leaving qualification  (4years) as minimum. Increasingly  graduate entry.  No entrance qualifications required.  Occupational background  Not applicable.  Not applicable.  For what field of work does this  education qualify graduates?  Technical/administrative  specialisation - general insurance  and long-term business.  Clerical/administrative positions -  general insurance or long-term  business.  Vocational knowledge and skills  Commercial knowledge; general  insurance principles; law and  technical knowledge. Candidates  select technical studies from a limited  range of subject options.  Basic knowledge of insurance  principles and practices. May be  used as a stand-alone knowledge  based qualification or as a  component in a National Vocational  Qualification.  Duration of the education  No minimum or maximum stipulated.  Candidates study at their own pace.  However at least 80 hours' study for  each subject is recommended  No minimum or maximum stipulated.  Candidates study at their own pace.  However at least 75-100 hours' study  for each subject is recommended  How are the examinations  carried out?  5x3 hour examinations comprising a  mixture of short answer and essay,  case study and problem solving  questions. Unseen, written  exami- nations. Difficulty of examinations  increases as candidates progress  through the qualification.  Paper 1 - 100 multiple choice  questions. 2 hour examination.  Paper 2 - 60 multiple choice  questions. 2 hour examination.  Recognition of the education /  qualification by companies in the  national insur. market  Holders can attain Membership of the  Society of Technicians in Insurance  and use the post-nominal letters MSTI.  This is recognised as indicating high  level technical knowledge. Although  the qualification is not compulsory for  prescribed industry jobs, its  attainment may be recognised by  one or a combination of enhanced  job status and advancement, salary  increase, other reward.  In addition, those seeking to call  themselves "brokers" and therefore  needing to be registered by the  Insurance Brokers Registration  Council (IBRC) must have passed  the Certificate of Insurance Practice  plus two subjects from the ACII  including one on insurance broking  or the requirement shown under ACII.  The Certificate of Insurance  Practice is also likely to be used  by companies to satisfy the future  regulatory/staturory knowledge  requirement for all non-life  intermediaries, who advise on a  wide range of varied products  and/or supervise others, as set  by the new regulator, the General  Insurance Standards Council (GISC).  Qualification not compulsory for  prescribed positions in industry.  Increasingly encouraged by employ-  ers as demonstration of benchmark  level of attainment.  In addition, this qualification is likely  to be used by companies to satisfy  the future regulatory/statutory  knowledge requirements, for all  non-life intermediaries who advise  on a limited range of standardised  products, as set by the new  regulator, the General Insurance  Standards Council (GISC).  Name of qualification  Certificate in IT for insurance  professionals  Mortgage Advice Qualification  Educational background  No entrance qualifications required.  No entrance qualifications required.  Occupational background  Not applicable.  Not applicable.  For what field of work does this  education qualify graduates?  Insurance specialists with  supplementary responsibility for IT  applications. Self-employed agents.  Candidates whose employment  involves the provision of advice to  the public on mortgages as either  their sole area of work or as a  corollary to the provision of other  financial advice.  Vocational knowledge and skills  Broad understanding of IT  applications specific to the insurance  industry. May be used as a stand- alone qualification or as a subject  towards either the Associateship or  Certificate in Insurance Practice.  Demonstrates competence and  knowledge of holders to give advice  on residential mortgages and related  insurance and assurance products  to meet customers’ needs and  circumstances.  Duration of the education  No minimum or maximum stipulated.  Candidates study at their own pace.  However at least 80 hours study is  recommended  No minimum or maximum stipulated.  Candidates study at their own pace.  However at least 60 hours' study is  recommended  How are the examinations  carried out?  3 hour written examination comprising  short answer questions and 4 from  a choice of 6 case-study, problem  solving discursive questions.  3 hour written examination comprising  50 multiple choice questions plus two  case study questions.  Recognition of the education /  qualification by companies in the  national insur. market  New qualification. First examination  April 2000. No compulsory status.  If passed in conjunction with the  Financial Planning Certificate, the  MAQ is accepted by the Mortgage  Code Compliance Board for entry on  the national register of mortgage  advisers.  Name of qualification  Advanced Financial Planning  Certificate  Financial Planning Certificate  Educational background  Must hold Financial Planning  Certificate.  No entrance qualifications required.  Occupational background  No occupational experience  requirement for attainment of  qualification.  No occupational experience  requirement for attainment of  qualification.  For what field of work does this  education qualify graduates?  Applicable to those providing  financial planning and investment  advice. Higher level, specialist  knowledge covered.  Regulatory qualification assessing  benchmark knowledge requirements  for those advising on financial  planning and investment products.  Vocational knowledge and skills  Knowledge based qualification.  Advanced level specialist knowledge  of main areas of financial planning  business as selected by candidates  from a menu of options depending  upon their interests and employment  needs.  Knowledge based qualification.  Broad-based knowledge of financial  services and their regulation;  protection; savings and investment  products and of identifying and  meeting clients’ needs.  Duration of the education  No minimum or maximum stipulated.  Candidates study at their own pace.  However at least 120 hours' study  for each subject is recommended  No minimum or maximum stipulated.  Candidates study at their own pace.  However at least 80 hours' study for  each subject is recommended  How are the examinations  carried out?  3x3 hour written examinations  comprising short answer questions,  a compulsory case-study requiring  application and analytical skills and  a choice of 2 from 3 discursive  questions.  2x2 hour examinations plus one  3 hour paper. Paper 1 -100 multiple  choice questions. Paper 2 - 60  multiple choice questions plus 40  multiple true/false items. Paper 3 -  written examination comprising 3 -  case-study questions.  Recognition of the education /  qualification by companies in the  national insur. market  FSA approved for subjects relating to  regulated business functions.  Otherwise not a compulsory  qualification although attainment  of the AFPC is increasingly  encouraged by employers for  ‘career’ financial advisers.  Main qualification used by UK  financial advisers and employers to  satisfy the regulatory/statutory  knowledge requirements of the  financial services regulator (the  Financial Services Authority).  FSA approved qualification.  Name of qualification  International Certificate for Financial Advisers  Educational background  No entrance qualifications required.  Occupational background  No occupational experience requirements for attainment of qualification.  For what field of work does this  education qualify graduates?  Transaction of long-term insurance and investment business by agents and  other financial advisers.  Vocational knowledge and skills  Knowledge based qualification. Foundation level knowledge of financial  services, regulatory issues and the need and vehicles for financial protection,  saving and investment.  Duration of the education  No minimum or maximum stipulated. Candidates study at their own pace.  However at least 60 hours' study is recommended  How are the examinations  carried out?  1x2 hour examination comprising 75 multiple choice questions.  (Examined in English)  Recognition of the education /  qualification by companies in the  national insur. market  Not applicable. International qualification. National market/industry practices  varies.