Circular No. 125/2018/TT-BTC dated December 24, 2018 of the Ministry of Finance on prescribing insurance agent certification

THE MINISTRY OF FINANCE

Circular No. 125/2018/TT-BTC dated December 24, 2018 of the Ministry of Finance onprescribing insurance agent certification

Pursuant to the Law on Insurance Business No. 24/2000/QH10 dated December 9, 2000;

Pursuant to the Law on Amendments and Supplements to the Law on Insurance Business No. 61/2010/QH12 dated November 24, 2010;

Pursuant to the Government’s Decree No. 73/2016/ND-CP dated July 1, 2016 elaborating on implementation of the Law on Insurance Business and the Law on Amendments and Supplements to certain Articles of the Law on Insurance Business;

Pursuant to the Government s Decree No. 87/2017/ND-CP dated July 26, 2017 defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Upon the request of the Director of the Department of Insurance Management and Supervision,

The Minister of Finance hereby promulgates the Circular prescribing insurance agent certification.

Article 1. Scope of regulation

This Circular provides for insurance agent certification procedures, including holding tests for insurance agent certificates; conferring and withdrawing insurance agent certificates; rights and obligations of organizations and individuals involved in insurance agent certification.

Article 2. Subjects of application

This Circular shall apply to the followings:

1. Department of Insurance Management and Supervision (Ministry of Finance);

2. Insurance agent training establishments (hereinafter referred to as training establishment);

3. Individuals taking tests for insurance agent certificates (hereinafter referred to as examinee);

4. Other organizations and individuals related to holding of tests for and conferral of insurance agent certificates.

Article 3. Plans for tests for insurance agent certificates

1. Ahead of the 25^thday of each month, training establishments shall register the plans to hold tests for insurance agent certificates in the successive month with the Department of Insurance Management and Supervision (via the System of Management of Tests for Insurance Agent Certificates) by using the form prescribed in the Appendix No. 1 hereto (the initial plans).

In a month, if training establishments register supplementary tests for insurance agent certificates (the supplementary plans), then these supplementary tests must be held at least 05 workings days after the registration date.

2. Based on the plans submitted by training establishments, the Department of Insurance Management and Supervision shall inform them of plans to hold tests prior to the 1^stday of the successive month (applicable to the initial plans) or at least 02 days before the test date (applicable to the supplementary plans).

3. In case where, after receipt of the notification of plans to hold tests as stated in clause 2 of this Article, training establishments wish to make any change in the plans to hold tests, such as test venue (with respect to locations specified in point b of clause 2 of Article 5 herein), test time, or the number of examinees attending and quitting tests, they must inform the Department of Insurance Management and Supervision (via the System of Management of Tests for Insurance Agent Certificates) at least 01 working day before the test date.

Article 4. Test design

1. Questions in each test for insurance agent certificates shall be issued by the Department of Insurance Management and Supervision. Each test shall be designed in a form of multiple-choice questions, and shall be composed of 75% of questions relating to general insurance knowledge and 25% of questions relating to insurance products.

2. Questions in tests for insurance agent certificates shall be based on insurance agent training programs specified in Article 88 of the Government’s Decree No. 73/2016/ND-CP dated July 1, 2016 elaborating on the implementation of the Law on Insurance Business and the Law on Amendments and Supplements to certain Articles of the Law on Insurance Business (hereinafter referred to as Decree No. 73/2016/ND-CP).

Article 5. Test organization

1. Tests for insurance agent certificates shall be held in either online or writing form.

2. Test venue:

Tests for insurance agent certificates shall take place at the following locations:

a) Concentrated test venues in cities or provinces must be informed by the Department of Insurance Management and Supervision as stipulated in point a of clause 4 of Article 10 herein.

b) Test venues outside of cities and provinces referred to in point a of clause 2 of this Article must be registered by training establishments.

3. Responsibilities for organizing tests:

a) If tests are held at venues specified in point a of clause 2 of this Article, the Department of Insurance Management and Supervision shall be responsible for organizing tests in accordance with clause 5 of Article 10 herein.

b) If tests are held at venues specified in point b of clause 2 of this Article, training establishments shall be responsible for organizing tests in accordance with clause 3 of Article 11 herein.

c) Proctors and examiners shall implement responsibilities specified in clause 2 and 3 of Article 12 herein.

4. 01 working day before the test date, training establishments shall give the updated list of examinees in each test on the System of Management of Tests for Insurance Agent Certificates by using the form given in the Appendix No. 2 hereto. Examinees already completing insurance agent training programs shall attend tests according to the list published by training establishments where they have been trained.

Article 6. Approval of exam results

1. Within the duration of 05 working days from the test date, training establishments must send reports on scores of tests in a writing form held at venues specified in point b of clause 2 of Article 5 herein to the Department of Insurance Management and Supervision (via the System of Management of Tests for Insurance Agent Certificates) by using the form given in the Appendix No. 3 hereto. Training establishments shall bear responsibility for accuracy and authenticity of report data. Training establishments shall have the burden of keeping custody of original copies of answer sheets at their facilities.

2. The Department of Insurance Management and Supervision shall issue the Decision on approval of results of tests for insurance agent certificates within the duration of 05 working days after the test date (with respect to tests referred to in point a of clause 2 of Article 5 herein), or within the duration of 03 working days after receipt of exam results on the System of Management of Tests for Insurance Agent Certificates (with respect to tests held at venues specified in point b of clause 2 of Article 5 herein). Examinees who gain at least 75% of total score of a test shall be recognized as those passing tests for insurance agent certificates.

Article 7. Second marking and handling of second marking results

1. Examinees shall have the right to apply for the second marking. Application for second marking shall be sent to the Department of Insurance Management and Supervision by using the form given in the Appendix No. 4 hereto within the duration of 20 days after the date on which the Department of Insurance Management and Supervision grants approval of exam results.

2. The Department of Insurance Management and Supervision shall carry out the second marking and respond in writing to examinees within the duration of 05 working days after the date on which the Department of Insurance Management and Supervision receives the examinee’s application for the second marking.

3. Based on the second marking results, the Department of Insurance Management and Supervision may send training establishments written notifications of adjustments in exam results (if any) in order to confer or take back insurance agent certificates as provided herein.

Article 8. Conferral of insurance agent certificates

1. Examinees shall be awarded insurance agent certificates after passing tests as provided herein.

2. Based on the Decision on approval of exam results from the Department of Insurance Management and Supervision, within the duration of 10 days of receipt of approval of exam results from the Department of Insurance Management and Supervision, training establishments shall inform exam results to examinees and grant insurance agent certificates to examinees passing tests for insurance agent certificates. Insurance agent certificates shall be awarded according to the form given in the Appendix No. 5 hereto.

Article 9. Withdrawal and reissuance of insurance agent certificates

1. Training establishments shall be required to withdraw and reissue insurance agent certificates that they have already granted in the cases specified in clause 2 of this Article.

2. Cases of withdrawal and reissuance of insurance agent certificates shall be regulated as follows:

a) Insurance agent certificates shall be invalid and subject to withdrawal in the following cases:

- Individuals have not attended tests for insurance agent certificates organized by the Ministry of Finance;

- Examinees have not passed tests for insurance agent certificates as provided herein;

- Examinees use fraudulent personal identity papers (including citizen ID/ID card/Passport) or other persons’ personal identity papers to be eligible for taking tests for insurance agent certificates;

- Examinees have been trained during the validity period of suspension of the training establishments where they are trained according to the decisions of competent authorities on penalties for administrative violations arising in the insurance business sector.

b) Insurance agent certificates may be reissued as long as one of the holder’s following personal information is false and erroneous:

- Last name/Middle name/First name;

- Birth date (mm/dd/yyyy);

- Citizen ID card/ID card/Passport number;

- Date of issue of Citizen ID card/ID card/Passport number.

3. Training establishments shall be obliged to enumerate and provide information about insurance agent certificates which are invalid and withdrawn or reissued via their websites.

Article 10. Responsibilities of the Department of Insurance Management and Supervision

1. Build the system for management of tests for insurance agent certificates.

2. Promulgate test rules and regulations.

3. Design tests in accordance with this Circular.

4. Inform the followings to insurance agent training establishments:

a) Venues and schedules of tests for insurance agent certificates in cities or provinces prior to October 31 each year.

b) Plans to hold tests for insurance agent certificates on a monthly basis in accordance with this Circular.

5. With respect to test organization activities, make necessary arrangements in terms of test rooms, assign proctors and examiners (with respect to tests held at venues specified in point a of clause 2 of Article 5 herein). Inspect and oversee the organization of tests and the audit of exam results (with respect to tests held at venues specified in point b of clause 2 of Article 5 herein).

6. Approve exam results and organize the second marking.

7. Inspect and oversee the conferral, reissuance and withdrawal of insurance agent certificates under the provisions of this Circular.

Article 11. Responsibilities of training establishments

1. Update the Department of Insurance Management and Supervision on contact details of the designated main contact person of each training establishment who is in charge of dealing with issues arising in organization of tests for insurance agent certificates.

2. Register plans to hold tests, submit updated lists of examinees as provided in clause 1 and 3 of Article 3 and clause 4 of Article 5 herein.

3. Hold tests (with respect to tests held at venues specified in point b of clause 2 of Article 5 herein) in accordance with the following regulations:

a) Provide facilities and rooms necessary for tests to be held. As for online tests, each test room must be equipped with the minimum number of computers which is equal to 25% of total examinee, in good condition, connects to internet, and transfers data through high-speed transmission lines, in order to ensure online tests are held successfully.

b) Assign proctors and examiners.

c) Bear responsibility for protecting confidentiality of test question and answer sheets from the time of receipt thereof and after tests are finished. Have the burden of complying with rules and regulations during tests.

d) Report on exam results as provided in clause 1 of Article 6 herein.

4. Pay test fees on behalf of examinees according to the Ministry of Finance’s directives.

5. Issue, reissue and withdraw insurance agent certificates in accordance with Article 8 and 9 herein.

6. In case where training establishments fail to comply with this Circular,

a) Training establishments shall be subject to administrative penalties according to regulations on administrative penalties arising in the insurance business sector.

b) Training establishments shall not be allowed to hold tests for insurance agent certificates for the maximum period of 03 months. This regulation shall be applied only if training establishments fail to comply with regulations on registration of plans to hold and organize tests for insurance agent certificates.

Article 12. Responsibilities of examinees, proctors and examiners

1. Responsibilities of examinees:

Comply with Regulations on tests for insurance agent certificates promulgated by the Ministry of Finance (the Department of Insurance Management and Supervision).

2. Responsibilities of proctors:

a) Protect confidentiality of test questions from the time of receipt thereof and after tests are finished.

b) Observe test sessions according to Regulations on tests for insurance agent certificates promulgated by the Ministry of Finance (the Department of Insurance Management and Supervision).

3. Responsibilities of examiners (in case of writing tests):

a) Mark test answer sheets based on provided test answers.

b) Avoid correcting, altering or changing exam results.

c) Prepare exam result reports.

Article 13. Transitional provision

Insurance agent certificates which are conferred before July 1, 2019 shall remain valid for use and shall not need to be reissued as provided herein.

Article 14. Effect

1. This Circular takes effect on March 1, 2019.

2. The sample insurance agent certificate given in the Appendix No. 5 hereof shall replace the sample one in the Appendix No. 13 of the Circular No. 50/2017/TT-BTC dated May 15, 2017 of the Ministry of Finance providing guidance on implementation of the Decree No. 73/2016/ND-CP. By July 1, 2019 at the latest, training establishments shall be obliged to implement provisions of this Circular.

3. In the course of implementation, if there is any difficulty arising, the Ministry of Finance should be promptly informed to consider taking possible actions./. 

For the Minister

Deputy Minister

Huynh Quang Hai