Exam Overview

The IFCE is a Saudi Central Bank (SAMA) mandatory exam covering rules and regulations of insurance, code of conduct and the basics of insurance operations. This exam will contribute in assuring the eligibility of insurance sector employees through understanding the minimum knowledge and skills required to work in this sector.

Sectors
Target Audience

Employees of insurance, reinsurance companies and service providers; either by direct contract or through a third party, as follows:

All employees in technical departments including but not limited to reinsurance, actuarial, claims, underwriting, and sales for all career levels.

All employees in supervisory departments including but not limited to internal audit, anti-money laundering, compliance, risk management for all career levels.

All employees in following support departments, Finance, Marketing, Customer Service departments in all career levels.

All employees who have direct or indirect contact with customers in all job levels.

Members of the Board of Directors who occupy positions in insurance and reinsurance companies and service providers.

Exam Profiles
Insurance Foundations Professional Exam - Third Edition
Exam Language

Arabic

Degree of Success

70 Degree

Exam Duration

120 Minutes

Exam Owner

Academy

Eductional Tutorial
Insurance Foundations Professional Exam - Third Edition (English)
Exam Language

English

Degree of Success

70 Degree

Exam Duration

120 Minutes

Exam Owner

Academy

Eductional Tutorial
Competencies and its Weights

Chapter 1: Risk and Insurance Management Foundations: 10%

Chapter 2: The Nature of Insurance Industry in The Kingdom of Saudi Arabia: 20%

Chapter 3: Insurance Products and Related Services: 20%

Chapter 4: Insurance Technical and Legal Principles: 20%

Chapter 5: Procedures and Policies of The Insurance Process: 10%

Chapter 6: Risks and Obstacles of Insurance Companies’ Operations: 20%

Exam Requirements

Not Available

Additional Requisites

Examinee must be either a Saudi citizen, a citizen of a GCC member state or treated as a citizen based on the regulations of the labor law.

Prerequisite Programs

Not Available

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