Circular 69/2022/TT-BTC insurance certificates, insurance agent certificates, insurance broker’s certificates

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Circular No. 69/2022/TT-BTC dated November 16, 2022 of the Ministry of Finance detailing regulations on insurance certificates, insurance agent certificates, insurance broker’s certificates and insurance auxiliary operations certificates
Issuing body: Ministry of FinanceEffective date:
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Official number:69/2022/TT-BTCSigner:Cao Anh Tuan
Type:CircularExpiry date:Updating
Issuing date:16/11/2022Effect status:
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Fields:Insurance

SUMMARY

Insurance agent certificates issued before January 1, 2023 may be used until the end of 2025

On November 16, 2022, the Ministry of Finance issues Circular No. 69/2022/TT-BTC detailing regulations on insurance certificates, insurance agent certificates, insurance broker’s certificates and insurance auxiliary operations certificates.

Specifically, Insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates shall be revoked in 4 cases as follows:

Firstly, individuals fail to take or pass the exams for insurance certificates, insurance broker’s certificate or insurance auxiliary operations certificates but still obtain certificates from training institutions;

Secondly, candidates correct, cheat or forge their identity papers (Citizen ID Card/ID Card/Passport) when taking the exams;

Thirdly, individuals ask others to take the exams for them;

Fourthly, certificates are revoked at the request of competent state agencies in accordance with law provisions.

Besides, insurance agent certificates issued before January 1, 2023 may be used until December 31, 2025. While not yet converted to insurance agent certificates as specified in this Circular, insurance agent certificates issued before January 1, 2023 shall be converted as follows:

The insurance agent certificate issued by a life insurance training institution is equivalent to the Basic life insurance agent certificate; The unit-linked insurance agent certificate issued by a life insurance training institution is equivalent to the Unit-linked insurance agent certificate, etc.

This Circular takes effect from January 1, 2023.

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THE MINISTRY OF FINANCE

__________

No. 69/2022/TT-BTC

THE SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

________________________

Hanoi, November 16, 2022


CIRCULAR

Detailing regulations on insurance certificates, insurance agent certificates, insurance broker’s certificates and insurance auxiliary operations certificates

 

Pursuant to the Law on Insurance Business dated June 16, 2022;

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;

At the proposal of the Director of the Insurance Supervisory Authority;

The Minister of Finance promulgates the Circular detailing regulations on insurance certificates, insurance agent certificates, insurance broker’s certificates and insurance auxiliary operations certificates.

 

Chapter I

GENERAL PROVISIONS

 

Article 1. Scope of regulations

1. This Circular details Clause 6 Article 81, Clause 3 Article 130, Clause 2 Article 138, Clause 2 Article 139, Clause 4 Article 143 and Clause 2 Article 157 of the Law on Insurance Business dated June 16, 2022.

Article 2. Subjects of application

This Circular applies to:

1. The Insurance Supervisory Authority (under the Ministry of Finance);

2. Life insurance enterprises, non-life insurance enterprises and health insurance enterprises (hereinafter referred to as insurance enterprises), branches of foreign non-life insurance enterprises and mutual organizations providing microinsurance;

3. Domestic insurance training institutions specified in Article 7 of this Circular (hereinafter referred to as training institutions);

4. Individuals who sit in exams for insurance certificates, insurance agent certificates, insurance broker’s certificates and insurance auxiliary operations certificates (hereinafter referred to as candidates);

5. Individuals who are granted with insurance certificates or insurance agent certificates before January 1, 2023;

6. Individuals who have insurance certificates, insurance broker’s certificates or insurance auxiliary operations certificates granted by foreign insurance training institutions specified in Article 8 of this Circular;

7. Organizations and individuals involved in training, examination and issuance of insurance certificates, insurance agent certificates, insurance broker’s certificates and insurance auxiliary operations certificates.

Article 3. Organization of exams for insurance certificates, insurance agent certificates, insurance broker’s certificates, insurance auxiliary operations certificates; issuance, revocation, renewal and conversion insurance agent certificates

1. Procedures for registration of exams, result approval and remark of exams for insurance certificates, insurance agent certificates, insurance broker’s certificates, and insurance auxiliary operations certificates; The procedures for issuance, revocation, exchange and conversion of insurance agent certificates are carried out through the Certificate Examination Management System of the Insurance Supervisory Authority (hereinafter referred to as the Certificate Examination Management System).

2. Exams for insurance certificates, insurance agent certificates, insurance broker’s certificates, and insurance ancillary operations certificates shall be carried out in the form of multiple-choice exams on computers or on paper. In cases of computer-based exams, computers must be connected to the Certificate Examination Management System.

3. The Insurance Supervisory Authority shall develop the system of exam questions and design tests for insurance certificates, insurance agent certificates, insurance broker’s certificates and insurance auxiliary operations certificates in accordance with training contents for each type of certificate specified in this Circular.

 

Chapter II

INSURANCE CERTIFICATES, INSURANCE BROKER’S CERTIFICATE, INSURANCE AUXILIARY OPERATIONS CERTIFICATES

 

 

Section 1

TYPES of INSURANCE CERTIFICATES, INSURANCE BROKER’S CERTIFICATE, INSURANCE AUXILIARY OPERATIONS CERTIFICATES, TRAINING CONTENTS, TRAINING FACILITIES ON DOMESTIC AND FOREIGN INSURANCE

 

Article 4. Insurance certificates

The insurance certificates specified at Point b, Clause 3 and Point b, Clause 4, Article 81 of the Law on Insurance Business dated June 16, 2022 include the following types of certificates:

1. With regard to insurance certificates issued by domestic insurance training institutions:

a) Life insurance certificate;

b) Non-life insurance certificate;

c) Health insurance certificate.

2. With regard to insurance certificates issued by foreign insurance training institutions:

a) Insurance operations certificate in the type of life insurance;

b) Insurance operations certificate in the type of non-life insurance;

c) Insurance operations certificate in the type of health insurance.

3. Insurance certificates issued by domestic or foreign insurance training institutions before January 1, 2023 may continue to be used as follows:

a) Basic life insurance certificates and insurance operations certificates in the type of life insurance have the same value as the insurance certificates specified at Point a, Clause 1 of this Article;

b) Basic non-life insurance certificates and insurance operations certificates in the type of non-life insurance have the same value as the insurance certificates specified at Point b, Clause 1 of this Article;

c) Basic health insurance certificates and insurance operations certificates in the type of health insurance have the same value as the insurance certificates specified at Point c, Clause 1 of this Article.

Article 5. Insurance broker’s certificates

The insurance broker’s certificate specified in Clause 2, Article 138 of the Law on Insurance Business dated June 16, 2022 refers to any of the following certificates:

1. Insurance broker’s certificate issued by a domestic insurance training institution;

2. Insurance broker’s certificate issued by a foreign insurance training institution.

Article 6. Insurance auxiliary operations certificates

The insurance auxiliary operations certificate specified at Point b, Clause 1 and Point b, Clause 2, Article 143 of the Law on Insurance Business dated June 16, 2022 refers to any of the following certificates:

1. With regard to insurance consultancy certificates issued by domestic insurance training institutions, including:

a) Life insurance consultancy certificate;

b) Non-life insurance consultancy certificate;

c) Health insurance consultancy certificate.

2. With regard to insurance risk assessment certificates issued by domestic insurance training institutions, including:

a) Life insurance risk assessment certificate;

b) Non-life insurance risk assessment certificate;

c) Health insurance risk assessment certificate.

3. With regard to insurance loss assessment certificates issued by domestic insurance training institutions, including:

a) Loss assessment certificate for hull insurance and shipowner’s civil liability, insurance of goods transported by sea and inland waterway (hereinafter referred to as marine insurance loss assessment certificate;

b) Aviation insurance loss assessment certificate;

c) Non-life insurance loss assessment certificate (except for marine insurance and aviation insurance).

4. With regard to certificates of insurance claim settlement support issued by domestic insurance training institutions, including:

a) Certificate of life insurance claim settlement support;

b) Certificate of non-life insurance claim settlement support;

c) Certificate of health insurance claim settlement support.

5. With regard to certificates issued by foreign insurance training institutions:

a) The insurance certificate specified at Point a, Clause 2, Article 4 of this Circular is equivalent to the certificates specified at Point a Clause 1, Point a Clause 2, and Point a Clause 4 of this Article;

b) The insurance certificate specified at Point b, Clause 2, Article 4 of this Circular is equivalent to the certificates specified at Point b Clause 1, Point b Clause 2, Clause 3, and Point b Clause 4 of this Article;

c) The insurance certificate specified at Point c, Clause 2, Article 4 of this Circular is equivalent to the certificates specified at Point c Clause 1, Point c Clause 2, and Point c Clause 4 of this Article;

d) The non-life insurance loss assessment certificate issued by a foreign insurance training institution is equivalent to the certificates specified in Clause 3 of this Article;

Article 7. Domestic insurance training institutions

A domestic insurance training institution refers to an institution performing the function of training in insurance and falling into one of the following cases:

1. Training institutions established by state agencies, including: institutes, academies, and universities;

2. Training institutions under units established by state agencies;

3. Other training institutions with the legal person status legally established and operating in Vietnam.

Article 8. Foreign insurance training institutions

A foreign insurance training institution refers to an institution performing the function of training in insurance and falling into one of the following cases:

1. Training institutions under insurance supervisory agencies; or training institutions authorized by insurance supervisory agencies to provide training and certification in the field of insurance;

2. ASEAN Insurance Training and Research Institute (AITRI); and associations of actuaries being official members of the International Association of actuaries;

3. Training organizations of countries that have an agreement to recognize mutual insurance certificates with Vietnam;

4. Training institutions under foreign insurance or reinsurance groups;

5. Other international training organizations, including: Australia and New Zealand Institute of Insurance and Finance (ANZIIF), Chartered Insurance Institute (CII), Insurance Institute of Canada (IIC), Institute of Risk Management (IRM), Risk Management Institute of Australasia (RMIA), Chartered Institute of Loss Adjusters (CILA), Australasian Institute of Chartered Loss Adjusters (AICLA), Lloyd's Maritime Institute, Life Office Management Association (LOMA) and Life Insurance Marketing and Research Association (LIMRA).

Article 9. Training contents for issuance of insurance certificates

Domestic insurance training institutions shall provide training for issuance of insurance certificates according to the following contents:

1. With regard to training for issuance of life insurance certificates, including:

a) General knowledge about insurance and reinsurance;

b) Basic knowledge about insurance operations in the forms of life insurance and health insurance;

c) Vietnam’s law on life insurance and health insurance business.

2. With regard to training for issuance of non-life insurance certificates, including:

a) General knowledge about insurance and reinsurance;

b) Basic knowledge about insurance operations in the forms of non-life insurance and health insurance;

c) Vietnam’s law on non-life insurance and health insurance business.

3. With regard to training for issuance of health insurance certificates, including:

a) General knowledge about insurance and reinsurance;

b) Basic knowledge about insurance operations in the form of health insurance;

c) Vietnam’s laws on health insurance business.

Article 10. Training contents for issuance of insurance broker’s certificates

Domestic insurance training institutions shall provide training for issuance of insurance broker’s certificates according to the following contents:

1. General knowledge about insurance and insurance operations:

a) Principles of insurance and reinsurance;

b) Basic knowledge about insurance operations in the forms of life, non-life and health insurance.

2. Vietnam’s laws on insurance business and insurance brokerage.

3. Principles, responsibilities and ethics of insurance brokerage practice.

4. Insurance brokerage skills and practice.

Article 11. Training contents for insurance auxiliary operations certificates

1. Domestic insurance training institutions shall provide training for issuance of insurance auxiliary operations certificates according to the following contents:

a) Vietnam’s laws on insurance business and insurance auxiliaries;

b) Basic principles of insurance;

c) Knowledge about insurance operations;

d) Process of performing insurance auxiliary services.

2. The training contents specified in Clause 1 of this Article correspond to the type of insurance and insurance operations of each insurance auxiliary operations certificate specified in Article 6 of this Circular.

 

Section 2

DOSSIERS, ORDER AND PROCEDURES FOR EXAMINATION, ISSUANCE, REVOCATION AND RENEWAL OF INSURANCE CERTIFICATES, INSURANCE BROKER’S CERTIFICATES, INSURANCE AUXILIARY OPERATIONS CERTIFICATES ISSUED BY DOMESTIC INSURANCE TRAINING INSTITUTIONS

 

Article 12. Organization of exams for insurance certificates, insurance broker’s certificates, insurance auxiliary operations certificates

The organization of exams for insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates shall comply with the following regulations:

1. The Insurance Supervisory Authority shall be responsible for organizing exams.

2. Exams shall be held at concentrated exam venues, announced by the Insurance Supervisory Authority.

3. Before December 31 every year, the Insurance Supervisory Authority shall notify in detail the time and venues of exams for insurance certificates, insurance broker’s certificate, and insurance auxiliary operations certificates of the following year on the Certificate Examination Management System.

Article 13. Dossier, order and procedures for registration for exams for insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates

1. Exam registration shall be performed online through the Certification Exam Management System at least 10 days before the exam date. Candidates shall register for the exam through their training institutions; These institutions shall register the list of candidates according to the information specified in Clause 2 of this Article on the Certificate Examination Management System and pay the examination fees.

2. Information for exam registration includes:

a) Candidates’ personal information (including full name, date of birth, number of Citizen ID Card/ID Card/Passport);

b) Name of the exam (information in detail for each type of insurance certificates and insurance auxiliary operations certificates);

c) Type of registered certificate (for insurance certificates and insurance auxiliary operations certificates);

d) Exam date and venues;

d) Other information related to the exam.

3. 03 working days before the exam date, the Insurance Supervisory Authority shall notify the list of candidates on the Certificate Examination Management System (only for candidates who have fully submitted their dossiers and paid exam fees).

Article 14. Tests, test duration, conditions for passing exams for insurance certificates, insurance broker’s certificate, and insurance auxiliary operations certificates

1. Each test for insurance certificate or insurance broker’s certificate contains 60 questions, and the test duration is 90 minutes; each test for insurance auxiliary operations certificate has 80 questions, and the test duration is 120 minutes.

2. Candidates who correctly answer 70% of the total questions of the test or more are eligible for passing the exam.

Article 15. Approval and notification of exam results for insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates

The Insurance Supervisory Authority shall issue a decision approving the examination results for insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates, and notify the exam results to the training institutions for informing candidates (via the Certificate Examination Management System) within 05 working days from the exam date (for paper-based exams) or 03 working days from the exam date (for computer-based exams).

Article 16. Issuance of insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates

1. Based on the Insurance Supervisory Authority’s decisions approving the exam results, domestic insurance training institutions shall issue insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates for candidates passing the exam for which they have registered through the training institutions.

2. The issuance of certificates must be completed within 10 days from the date of issuance of decisions approving the exam results. Certificate shall be issued according to the forms specified in the Appendixes issued together with this Circular: Appendix 1 (form of insurance certificate), Appendix 2 (form of insurance broker’s certificate), and Appendix 3 (form of insurance auxiliary operations certificate).

3. Within 05 working days from the date of issuance of insurance certificates, insurance broker’s certificates or insurance auxiliary operations certificates, training institutions must update the list of certificates that the training institutions have issued to the Certificate Examination Management System according to the form specified in Appendix 4 issued together with this Circular, including the following information:

a) Personal information of the certificate holder (including full name, date of birth, number of Citizen ID Card/ID Card/Passport);

b) Name/type of certificate;

c) Issuing date of certificate;

d) Certificate number.

Article 17. Remark and processing of remark results of exams for insurance certificates, insurance broker’s certificates, and insurance auxiliary operations certificates

1. The remark only applies to paper-based exams. Within 20 days from the date the Insurance Supervisory Authority approves the exam results, candidates shall submit an application for exam remark through training institutions for sending to the Insurance Supervisory Authority (via the Certificate Examination Management System). The application form for exam remark is specified in Appendix 5 issued together with this Circular.

2. Within 05 working days from the date of receiving the application form for exam remark, the Insurance Supervisory Authority shall remark the exams and publish the remark results on the Certificate Examination Management System.

3. Based on the remark results, the Insurance Supervisory Authority shall issue decisions to adjust the exam results (if any) and notify the training institutions to issue certificates as prescribed in Article 16 of this Circular.

Article 18. Revocation and renewal of insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates

Domestic insurance training institutions shall revoke and renew insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates in accordance with the following regulations:

1. Insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates shall be revoked in the following cases:

a) Individuals fail to take or pass the exams for insurance certificates, insurance broker’s certificate or insurance auxiliary operations certificates but still obtain certificates from training institutions;

b) Candidates correct, cheat or forge their identity papers (Citizen ID Card/ID Card/Passport) when taking the exams;

c) Individuals ask others to take the exams for them;

d) Certificates are revoked at the request of competent state agencies in accordance with law provisions.

2. Certificates shall be renewed in cases where one of the following personal information of certificate holders is mistaken or incorrect:

a) Last name/Middle name/First name;

b) Date of birth;

c) Number of Citizen ID Card/ID Card/Passport.

3. Within 05 working days from the date of obtaining evidence that the issued certificates fall into one of the cases specified in Clauses 1 and 2 of this Article, the training institutions shall revoke and renew insurance certificates, insurance broker’s certificates, and insurance auxiliary operations certificates.

4. Within 03 working days from the date of revocation or renewal of certificates, the training institutions shall notify the Insurance Supervisory Authority of the list of revoked or renewed insurance certificates, insurance broker’s certificates, and insurance auxiliary operations certificates in accordance with Clauses 1 and 2 of this Article; and publish the list of revoked certificates on their websites. Within 03 working days from the date of receiving the notices of training institutions, the Insurance Supervisory Authority shall publish information about the revoked certificates on the Certificate Examination Management System.

5. Individuals who have their certificates revoked in the cases specified in Clause 1 of this Article must not participate in exams for insurance certificates, insurance broker’s certificates or insurance auxiliary operations certificates during the period of 12 months from the date of certificate revocation.

6. Training institution that violate regulations on issuance of certificates in the case specified at Point a, Clause 1 of this Article must not register for the exam plan and issuance of insurance certificates, insurance broker’s certificates, and insurance auxiliary operations certificates for a period of 03 years from the date their acts of violations are discovered (for the first time of committing violations). In cases of recidivism, the training institutions must not continue to register for the exam plan and issuance of insurance certificates, insurance broker’s certificates, and insurance auxiliary operations certificates.

 

Chapter III

INSURANCE AGENT CERTIFICATES

 

Section 1

TRAINING CONTENTS OF INSURANCE AGENT CERTIFICATES

 

Article 19. Insurance agent certificates

1. Insurance agent certificates include:

a) Basic life insurance agent certificate;

b) Unit-linked insurance agent certificate;

c) Basic non-life insurance agent certificate;

d) Marine insurance agent certificate;

dd) Aviation insurance agent certificate;

e) Health insurance agent certificate.

2. Insurance agent certificates issued before January 1, 2023 may be used until December 31, 2025. While not yet converted to insurance agent certificates as specified in this Circular, insurance agent certificates issued before January 1, 2023 shall be converted as follows:

a) The insurance agent certificate issued by a life insurance training institution is equivalent to the certificate specified at Point a, Clause 1 of this Article;

b) The unit-linked insurance agent certificate issued by a life insurance training institution is equivalent to the certificate specified at Point b, Clause 1 of this Article;

c) The insurance agent certificate issued by a non-life insurance training institution is equivalent to the certificate specified at Points c, d, and dd, Clause 1 of this Article.

3. Insurance agent certificates specified in Clause 1 of this Article shall be used as follows:

a) Basic life insurance agent certificates shall be used to perform insurance agent activities for life insurance products (except for unit-linked insurance products) and health insurance products;

b) Unit-linked insurance agent certificates shall be used to perform insurance agent activities for unit-linked insurance products;

c) Basic non-life insurance agent certificates shall be used to perform insurance agent activities for non-life insurance products (except for marine insurance products and aviation insurance products), and products pertaining to the type of health insurance with a term of up to 01 year and insurance products for death risks with a term of up to 01 year;

d) Marine insurance agent certificates shall be used to perform insurance agent activities for marine insurance products;

dd) Aviation insurance agent certificates shall be used to perform insurance agent activities for aviation insurance products;

e) Health insurance agent certificates shall be used to perform insurance agent activities for insurance products for death risks with a term of up to 01 year.

Article 20. Training contents for issuance of insurance agent certificates

Training contents for issuance of insurance agent certificates include:

1. General knowledge about insurance; principles of insurance operations suitable for each type of insurance agent certificate:

  a) With regard to basic life insurance agent certificates: general knowledge of insurance, principles and basic knowledge of insurance operations of the types of life insurance (except unit-linked insurance), and health insurance;

  b) With regard to unit-linked insurance agent certificates: general knowledge of the financial market; basic knowledge of investment; general knowledge of insurance, principles and basic knowledge of unit-linked insurance operations;

  c) With regard to basic non-life insurance agent certificates: general knowledge of insurance, principles and basic knowledge of insurance operations in the types of non-life insurance (except for marine insurance and aviation insurance), and products pertaining to the type of health insurance with a term of up to 01 year and insurance products for death risks with a term of up to 01 year;

  d) With regard to marine insurance agent certificates: general knowledge of insurance, principles and basic knowledge of marine insurance operations;

  dd) With regard to aviation insurance agent certificates: general knowledge of insurance, principles and basic knowledge of aviation insurance operations;

  e) With regard to health insurance agent certificates: general knowledge of insurance, principles and basic knowledge of health insurance operations.

  2. Code of professional ethics and conduct of insurance agents promulgated by socio-professional organizations.

3. Rights and obligations of insurance enterprises, foreign non-life insurance enterprises’ branches, mutual organizations providing microinsurance and insurance agents in insurance agency activities.

4. Vietnam’s law on insurance business activities corresponding to the type of insurance and insurance operations of each type of insurance agent certificate.

5. Insurance agent skills and practice.

  6. In cases where a basic life insurance agent certificate has been issued, the training contents for issuance of a unit-linked insurance agent certificate shall include the contents as specified at Point b, Clause 1 and Clause 4 of this Article.

  7. In cases where a basic non-life insurance agent certificate has been issued, the training contents for issuance of a marine insurance agent certificate shall include the contents as specified at Point d, Clause 1 and Clause 4 of this Article.

8. In cases where a basic non-life insurance agent certificate has been issued, the training contents for issuance of an aviation insurance agent certificate shall include the contents as specified at Point dd, Clause 1 and 4 of this Article.

 

 

Section 2

DOSSIERS, ORDER, AND PROCEDURES FOR EXAMINATION, ISSUANCE, REVOCATION, AND RENEWAL OF INSURANCE AGENT CERTIFICATES

 

Article 21. Organization of exams for insurance agent certificates

1. Exam venues:

Exams for insurance agent certificates shall be held at the following venues:

a) Concentrated exam venues in provinces and cities shall be announced by the Insurance Supervisory Authority;

b) Exam venues other than those specified at Point a, Clause 1 of this Article shall be registered by insurance enterprises, foreign non-life insurance enterprises’ branches, mutual organizations providing microinsurance;

c) Exam venues shall be the headquarters located in provincial-level administrative units of organizations conducting insurance agent activities and socio-political organizations that have cooperation agreements with insurance enterprises, foreign non-life insurance enterprises’ branches, mutual organizations providing microinsurance on insurance agent activities.

2. In case of exams held at the venues specified at Point a, Clause 1 of this Article, the Insurance Supervisory Authority shall organize the exams.

3. In cases of exams held at the venues specified at Point b, Clause 1 of this Article, insurance enterprises, foreign non-life insurance enterprises’ branches, mutual organizations providing microinsurance shall organize the exams in accordance with the following regulations:

  a) In each province and city, no more than 01 exam with at least 10 candidates is held in 01 month;

b) Ensuring physical facilities and arranging separate exam rooms for exam work. Each exam room must have at least 02 technical devices to record the entire images (with audio) of the exam, and stable internet connection to serve exam monitoring through technology applications. With regard to computer-based exams, ensuring computers working properly and connected to the Certificate Examination Management System, the number of computers must be at least 25% of the number of candidates sitting in the exams;

  c) Appointing officials to examine and mark exams;

d) Being responsible for keeping the exam questions and answers confidential from the time the exam questions and answers are received until they are used for the exam. Being responsible for compliance with regulations in the process of organizing the exams;

  dd) Reporting the exam marking results as prescribed in Clause 1, Article 24 of this Circular;

  e) Keeping the original paper-based exams and exam dossiers (including video and audio recordings of the exams) at insurance enterprises, foreign non-life insurance enterprises’ branches, mutual organizations providing microinsurance for a minimum period of 05 years, and keeping video and audio recordings of the exams for at least 03 years from the date of exam organization;

g) In cases of failure to comply with the provisions of Point b or Point d or Point dd or Point e of this Clause, insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance must not register for a plan to hold the exams for insurance agent certificates within 01 month (for the first time of committing violations) or 03 months (for the cases of recidivism).

4. In cases of exams held at the venues specified at Point c, Clause 1 of this Article, the Insurance Supervisory Authority shall organize the exams in accordance with the following regulations:

a) Exams shall be held on a quarterly basis; in each province or city, no more than 01 exam with at least 70 candidates is held in 01 quarter;

b) Insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance must ensure technical facilities for organization of the exams as prescribed at Point b, Clause 3 of this Article (except for the requirement for technical equipment to serve the exam supervision through technology applications and the video and audio recording of the exams).

5. Before October 31 every year, the Insurance Supervisory Authority shall notify the time of organizing the exams at the concentrated exam venues specified at Point a, Clause 1 of this Article of the following year.

Article 22. Dossiers, order and procedures for registration of exam plans for insurance agent certificates

1. Registration of exam plans:

a) With regard to the exams held at the venues specified at Points a and b, Clause 1, Article 21 of this Circular: before the 25th of every month, insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance shall make registration of the following month’s exam plan for insurance agent certificates with the Insurance Supervisory Authority through the Certificate Examination Management System;

b) With regard to the exams held at the venues specified at Point c, Clause 1, Article 21 of this Circular: at least 15 days before the end of the quarter, insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance shall make registration of the following quarter’s exam plan for insurance agent certificates.

c) Dossiers of registration shall be made according to the forms specified in Appendix 6 issued together with this Circular.

2. Announcement of exam plans:

a) With regard to the exams held at the venues specified at Points a and b, Clause 1, Article 21 of this Circular: Within 02 working days before the end of the month, the Insurance Supervisory Authority shall notify insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance of the exam plan (including the form and venue of the exam);

b) With regard to the exams held at the venues specified at Point c, Clause 1, Article 21 of this Circular: Within 10 working days before the end of the quarter, the Insurance Supervisory Authority shall notify insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance of the exam plan (including the form and venue of the exam).

3. With regard to the exams held at the venues specified at Point b, Clause 1, Article 21 of this Circular, in cases where insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance plan to change the exam plan announced by the Insurance Supervisory Authority (change in exam venues and time or exam cancellation), they must notify the Insurance Supervisory Authority (via the Certificate Examination Management System) at least 01 working day before the exam date. In cases of failing to do so, they must not hold exams at the venues specified at Point b, Clause 1, Article 21 of this Circular for a period of 03 months (for the first time of committing violations) or 06 months (for the cases of recidivism).

4. With regard to the exams held at the venues specified at Point c, Clause 1, Article 21 of this Circular, in cases where insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance plan to change the exam plan announced by the Insurance Supervisory Authority (change in exam venues and time or exam cancellation), they must notify the Insurance Supervisory Authority (via the Certificate Examination Management System) at least 05 working day before the exam date. In cases of failing to do so, the Insurance Supervisory Authority shall not organize the exams at the venues specified at Point c, Clause 1, Article 21 of this Circular for a period of 01 quarter (for the first time of committing violations) or 2 quarters (for the cases of recidivism).

5. At least 01 working day before the exam date, insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance shall update the list of candidates registered to participate in the exams for insurance agent certificates according to each exam to the Certificate Examination Management System, using the form specified in Appendix 7 issued together with this Circular.

6. Insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance must pay exam fees for candidates according to the list of candidates registered on the Certificate Examination Management System prescribed in Clause 5 of this Article. In cases of failing to make full payment of exam fees, they must not register for the following month’s exam plan for insurance agent certificates (for the exams held at the venues specified at Points a and b, Clause 1, Article 21 of this Circular) or for the next quarter’s exam plan for insurance agent certificates (for the exams held at the venues specified at Point c, Clause 1, Article 21 of this Circular).

Article 23. Tests, test duration, and conditions for passing exams for insurance agent certificates

1. Each test for insurance agent certificates specified in Clause 1, Article 19 of this Circular contains 40 questions, and the test duration is 60 minutes.

2. With regard to tests for unit-linked insurance agent certificates in cases where the basic life insurance agent certificate has been issued; or tests for marine or aviation insurance agent certificates in cases where a basic non-life insurance agent certificate has been issued: each test contains 20 questions based on the corresponding training contents prescribed in Clause 6, Clause 7, Clause 8, Article 20 of this Circular, and the test duration is 40 minutes.

  3. Candidates who answer correctly 75% of the questions of the exam or more shall be eligible for passing the exams.

Article 24. Approval and notification of exam results for insurance agent certificates

  1. Within 05 working days from the date of organizing exams, insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance must report the marking results of paper-based exams at the venues specified at Point b, Clause 1, Article 21 of this Circular to the Insurance Supervisory Authority (via the Certificate Examination Management System), using the form specified in Appendix 8 issued together with this Circular. Insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance must be responsible for the accuracy and truthfulness of reported information.

2. The Insurance Supervisory Authority shall issue decisions approving the exam results for insurance agent certificates and notify insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance (via the Certificate Examination Management System) according to the following time limits:

a) Within 03 working days from the exam date for computer-based exams.

b) Within 05 working days from the exam date for paper-based exams held at the venues specified at Points a and c, Clause 1, Article 21 of this Circular;

c) Within 03 working days from the date of receiving the test result report on the Certificate Examination Management System, for paper-based exams held at the venues specified at Point b, Clause 1, Article 21 of this Circular.

Article 25. Remark and processing of remark results of exams for insurance agent certificates

1. The remark only applies to paper-based exams. Within 20 days from the date the Insurance Supervisory Authority approves the exam results, candidates shall submit an application for exam remark through insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance for sending to the Insurance Supervisory Authority (via the Certificate Examination Management System). The application form for exam remark is specified in Appendix 5 issued together with this Circular.

2. In cases of remarking the exams held at the venues specified at Point b, Clause 1, Article 21 of this Circular, insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance shall submit an application for exam remark, enclosed with a copy of the exam paper, to the Insurance Supervisory Authority (via the Certificate Examination Management System).

3. The Insurance Supervisory Authority shall remark the exam and notify the results on the Certificate Examination Management System within 05 working days from the date of receiving the candidate’s application for exam remark; or within 05 working days from the date of receiving the candidate’s application for exam remark enclosed with a copy of the exam paper (for the paper-based exams held at the venues specified at Point b, Clause 1, Article 21 of this Circular).

4. Based on the remark results, the Insurance Supervisory Authority shall issue decisions to adjust the exam results (if any) and issue insurance agent certificates in accordance with Article 26 of this Circular.

Article 26. Issuance of insurance agent certificates

1. Within 03 working days from the date of issuance of decisions approving the exam results, the Insurance Supervisory Authority shall grant insurance agent certificates to the candidates who pass the exams for insurance agent certificates.

2. Insurance agent certificates shall be issued as electronic data through the Certificate Examination Management System. The form of insurance agent certificate is specified in Appendix 9 issued together with this Circular.

3. Insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance shall receive the list of insurance agent certificates through the Certificate Examination Management System by the accounts granted when registering for the exam plan for insurance agent certificates.

4. Individuals and organizations may check their insurance agent certificates through the Certificate Examination Management System by entering the certificate code or personal information of certificate holders, including full name, date of birth, number of Citizen ID Card/ID Card/Passport.

Article 27. Revocation and renewal of insurance agent certificates

The Insurance Supervisory Authority shall revoke and issue insurance agent certificates in accordance with the following regulations:

1. Insurance agent certificates shall be revoked in the following cases:

a) Individuals fail to take or pass the exams for insurance agent certificates held at the venues specified at Point b, Clause 1, Article 21 of this Circular, but insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance report that they have passed the exams.

b) Post-examination results show that the candidates are not eligible to pass the exams for insurance agent certificates as prescribed in this Circular.

c) Candidates correct, cheat or forge their identity papers (Citizen ID Card/ID Card/Passport) when taking the exams;

d) Individuals ask others to take the exams for them.

dd) Insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance and individuals have cheated in conversion of insurance agent certificates.

e) Insurance agent certificates are revoked at the request of competent state agencies in accordance with law provisions.

2. Insurance agent certificates shall be renewed in the cases specified in Clause 2, Article 18 of this Circular.

3. Within 03 working days from the date of obtaining evidence that the issued insurance agent certificates fall into one of the cases specified in Clauses 1 and 2 of this Article, the Insurance Supervisory Authority shall revoke and renew the issued certificates by removing information on e-certificates (in cases of certificate revocation) or correcting information on e-certificates (in cases of certificate renewal) on the Certificate Examination Management System.

4. Within 03 working days from the date of certificate revocation, the Insurance Supervisory Authority shall notify the list and information of revoked certificates specified in Clause 1 of this Article on the Certificate Examination Management System.

5. Individuals who have certificates revoked in the cases specified at Points c, d, dd, and e, Clause 1 of this Article must not participate in exams for insurance agent insurance certificates for the next 12 months from the date of certificate revocation.

 

Section 3

CONVERSION OF INSURANCE AGENT CERTIFICATES

 

Article 28. Principles for conversion of insurance agent certificates

The conversion of an insurance agent certificate issued before January 1, 2023 into an insurance agent certificate specified in this Circular shall be carried out according to the following principles:

1. Insurance agent certificates issued by life insurance training institutions shall be converted into basic life insurance agent certificates.

2. Unit-linked insurance agent certificates issued by life insurance training institutions shall be converted into unit-linked insurance agent certificates.

3. Insurance agent certificates issued by non-life insurance training institutions shall be converted into basic non-life insurance agent certificates.

4. The conversion of insurance agent certificates must be completed before December 31, 2025. An insurance agent certificate issued before January 1, 2023 will cease to be effective from the time it is converted to an insurance agent certificate specified in this Circular or from January 1, 2026, whichever occurs first.

5. Insurance agent certificates shall be converted into e-data and stored on the Certificate Examination Management System.

Article 29. Dossier, order and procedures for conversion of insurance agent certificates

  1. Before June 30, 2025, insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance shall send the Insurance Supervisory Authority  (via the Certificate Examination Management System) dossiers of request for conversion of insurance agent certificates issued before January 1, 2023 into the insurance agent certificates specified in this Circular for insurance agents operating at the insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance.

  2. A dossier of request for conversion of the insurance agent certificates specified in Clause 1 of this Article includes:

  a) A written request for conversion of certificates (enclosed with a list of insurance agents with to-be-converted certificates), made according to the form specified in Appendix 10 issued together with this Circular;

b) Authenticated copies of the insurance agent certificates issued before January 1, 2023 of the insurance agents;

  c) Authenticated copies of the insurance agents’ citizen ID card/ID card/Passport. In cases where the Ministry of Finance’s information system for handling administrative procedures has completed the authenticated connection and sharing of citizen information with the national population database, the Insurance Supervisory Authority shall exploit the information in the national population database in accordance with law provisions.

  3. Within 15 days from the date of receiving a dossier of request for certificate conversion, if the dossier is incomplete and invalid, the Insurance Supervisory Authority shall send a written request to insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance for completing the dossier.

Within 60 days from the date of receiving a complete and valid dossier, the Insurance Supervisory Authority shall convert the certificates issued before January 1, 2023 into the certificates specified in this Circular. The form of converted insurance agent certificates shall comply with the provisions in Appendix 9 issued together with this Circular.

 

Chapter IV

RESPONSIBILITIES OF ORGANIZATIONS AND INDIVIDUALS IN ORGANIZATION OF EXAMS, ISSUANCE, REVOCATION, AND RENEWAL OF INSURANCE CERTIFICATES, INSURANCE AGENT CERTIFICATES, INSURANCE BROKER’S CERTIFICATE, INSURANCE AUXILIARY OPERATIONS CERTIFICATES

 

  Article 30. Responsibilities of the Insurance Supervisory Authority 

1. Promulgating the Regulations on exams for insurance certificates, insurance agent certificates, insurance broker’s certificates and insurance auxiliary operations certificates.

  2. Developing a system of exam questions for insurance certificates, insurance agent certificates, insurance broker’s certificates and insurance auxiliary operations certificates in accordance with the training contents for each type of certificate specified in this Circular.

3. Notifying the exam time and venues before October 31 every year (applicable to the exams for insurance agent certificates held at the venues specified at Point a, Clause 1, Article 21 of this Circular), or before December 31 every year (applicable to the exams for insurance certificates, insurance broker’s certificates, and insurance auxiliary operations certificates).

4. Informing plans to organize exams for insurance agent certificates on a monthly basis (applicable to the exams held at the venues specified at Points a and b, Clause 1, Article 21 of this Circular), or on a quarterly basis (applicable to the exams held at the venues specified at Point c, Clause 1, Article 21 of this Circular) to insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance.

5. Designing exam questions, organizing exams, approving and announcing exam results for insurance certificates, insurance agent certificates, insurance broker’s certificates and insurance auxiliary operations certificates.

6. Post-checking the exam marking results for paper-based exams, and checking and supervising exams for insurance agent certificates held at the venues specified at Point b, Clause 1, Article 21 of this Circular.

7. Organizing the remark of exam results for insurance certificates, insurance agent certificates, insurance broker’s certificates, and insurance auxiliary operations certificates for paper-based exams.

8. Issuing, revoking and renewing insurance agent certificates; converting insurance agent certificates issued before January 1, 2023 into the certificates specified in this Circular.

9. Notifying the list of individuals having their insurance certificates, insurance agent certificates, insurance broker’s certificates and insurance auxiliary operations certificates revoked on the Certificate Examination Management System.

Article 31. Responsibilities of insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance

1. Conducting training on insurance agents according to the contents specified in Article 20 of this Circular.

2. Registering the plans to organize exams, updating the list of candidates, and paying the exam fees for insurance agent certificates to the Insurance Supervisory Authority in accordance with Clause 1, Clause 3, Clause 4, Clause 5, Clause 6, Article 22 of this Circular.

3. Organizing exams for insurance agent certificates (applicable to the exams held at the venues specified at Point b, Clause 1, Article 21 of this Circular).

4. Submitting to the Insurance Supervisory Authority the dossier of request for conversion of insurance agent certificates issued before January 1, 2023 into the insurance agent certificates specified in this Circular for insurance agents of insurance enterprises, foreign non-life insurance enterprises’ branches, and mutual organizations providing microinsurance in accordance with Clauses 1 and 2, Article 29 of this Circular.

5. Ensuring the confidentiality of information and data about images (and audio) of exams held at the venues specified at Point b, Clause 1, Article 21 of this Circular in accordance with law provisions.

  Article 32. Responsibilities of domestic insurance training institutions

  1. Domestic insurance training institutions shall provide training for issuance of insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates according to the contents specified in Article 9, 10 and 11 of this Circular.

  2. Registering the list of candidates for exams with the Insurance Supervisory Authority and pay the exam fees for those who register for the exam through the training institutions.

  3. Issuing, renewing, and revoking insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates.

4. Notifying the list of individuals possessing insurance certificates, insurance broker’s certificates, and insurance auxiliary operations certificates issued, renewed, or revoked by the training institutions to the Insurance Supervisory Authority; notifying the list of individuals possessing insurance certificates, insurance broker’s certificates or insurance auxiliary operations certificates revoked on the training institutions’ websites.

5. Keeping dossiers on the issuance, revocation and renewal of insurance certificates, insurance broker’s certificates and insurance auxiliary operations certificates within their scope of responsibilities as prescribed by law provisions.

  Article 33. Responsibilities of candidates, exam invigilators and examiners

1. Responsibilities of candidates:

a) Take responsibility for the completeness, truthfulness and accuracy of exam registration information;

b) Complying with the Regulations on exams for insurance certificates, insurance agent certificates, insurance broker’s certificates, and insurance auxiliary operations certificates.

2. Responsibilities of exam invigilators and examiners:

Examining and marking exams according to the Regulations on exams for insurance certificates, insurance agent certificates, insurance broker’s certificates, and insurance auxiliary operations certificates.

 

Chapter V

IMPLEMENTATION PROVISIONS

 

Article 34. Effect

1. This Circular takes effect from January 1, 2023.

2. This Circular replaces the Ministry of Finance’s Circular No. 125/2018/TT-BTC dated December 24, 2018, on prescribing insurance agent certification and Circular No. 65/2019/TT-BTC dated September 16, 2019, Prescribing the contents of training, examination, granting and recognition of insurance auxiliary certificates.

3. Any difficulties or problems arising in the course of implementation shall be promptly reported to the Ministry of Finance for consideration and settlement./.

For the Minister

The Deputy Minister

CAO ANH TUAN

 

* All Appendices are not translated herein.

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