Integrated document No. 01/VBHN-BTC dated February 28, 2025 Circular on providing detailed regulations on insurance certificates, insurance agent certificates, insurance broker certificates and certificates of training in insurance auxiliary services
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MINISTRY OF
FINANCE OF VIETNAM |
SOCIALIST
REPUBLIC OF VIETNAM |
|
No. 01/VBHN-BTC |
Hanoi, February 28, 2025 |
CIRCULAR [1]
Providing detailed regulations on insurance certificates, insurance agent certificates, insurance broker certificates and certificates of training in insurance auxiliary services
Circular No. 69/2022/TT-BTC dated November 16, 2022 of the Minister of Finance providing detailed regulations on insurance certificates, insurance agent certificates, insurance broker certificates and certificates of training in insurance auxiliary services, which comes into force from January 01, 2023, is amended by:
Circular No. 85/2024/TT-BTC dated November 29, 2024 of the Ministry of Finance amending certain articles of Circular No. 69/2022/TT-BTC dated November 16, 2022 of the Minister of Finance providing detailed regulations on insurance certificates, insurance agent certificates, insurance broker certificates and certificates of training in insurance auxiliary services, which comes into force from January 15, 2024.
Pursuant to Law on Insurance Business dated June 16, 2022;
Pursuant to Decree No. 87/2017/ND-CP dated July 26, 2017 of the Government on functions, tasks, powers and organizational structure of the Ministry of Finance;
At the request of the Director General of Insurance Supervisory Authority;
The Minister of Finance hereby promulgates a Circular providing detailed regulations on insurance certificates, insurance agent certificates, insurance broker certificates and certificates of training in insurance auxiliary services. [2]
Chapter I
GENERAL PROVISIONS
Article 1. Governing scope
1. This Circular elaborates clause 6 Article 81, clause 3 Article 130, clause 2 Article 138, clause 2 Article 139, Clause 4 Article 143, clause 2 Article 157 of the Law on Insurance Business dated June 16, 2022.
Article 2. Regulated entities
Regulated entities of this Circular include:
1. Insurance Supervisory Authority (Ministry of Finance);
2. Life insurance enterprises, non-life insurance enterprises, health insurance enterprises (hereinafter referred to as “insurance enterprises”), branches of foreign non-life insurance enterprises, or mutual microinsurance providers;
3. Domestic insurance training institutions specified in Article 7 herein (briefly defined as “training institutions”);
4. Candidates of insurance certification exams, insurance agent certification exams, insurance broker certification exams or exams for certificates of training in insurance auxiliary services (briefly defined as “candidates”);
5. Individuals holding insurance certificates or insurance agent certificates awarded before January 1, 2023;
6. Individuals holding insurance certificates, insurance broker certificates, certificates of training in insurance auxiliary services awarded by foreign insurance training institutions specified in Article 8 herein;
7. Organizations and individuals involved in training, conduct of exams and issuance of insurance certificates, insurance agent certificates, insurance broker certificates and certificates of training in insurance auxiliary services.
Article 3. Conduct of insurance certification exams, insurance agent certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services; issuance, revocation, replacement and conversion of insurance agent certificates [3]
1. Procedures for application for certification exams, insurance agent certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services, approval or appeal for exam results; procedures for issuance, revocation, replacement or conversion of insurance agent certificates shall be carried out via the Certification Exam Management System at https://vidi-e.mof.gov.vn (hereinafter referred to as “CEMS”).
2. Insurance certification exams, insurance agent certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services shall be held in the computer-based or paper-based multiple-choice format. When a computer-based exam is held, all computers used in the exam must be connected to CEMS.
3. Vietnam Insurance Development Institute (VIDI) (a public service provider under the Insurance Supervisory Authority) shall conduct insurance certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services and be responsible for issuance, revocation, replacement and conversion of insurance agent certificates in accordance with the provisions herein.
Chapter II
INSURANCE CERTIFICATES, INSURANCE BROKER CERTIFICATES AND CERTIFICATES OF TRAINING IN INSURANCE AUXILIARY SERVICES
Section 1. Types of insurance certificates, insurance broker certificates, certificates of training in insurance auxiliary services, INSURANCE TRAINING CONTENT, DOMESTIC AND FOREIGN INSURANCE TRAINING INSTITUTIONS
Article 4. Insurance certificates
The insurance certificate specified in point b clause 3, point b clause 4 Article 81 and clause 2 Article 138 of the Law on Insurance Business may be one of the following certificates: [4]
1. A domestic insurance training institution may issue:
a) Life insurance certificate;
b) Non-life insurance certificate;
c) Health insurance certificate.
2. A foreign insurance training institution may issue:
a) Professional/Practicing certificate in life insurance;
b) Professional/Practicing certificate in non-life insurance;
c) Professional/Practicing certificate in health insurance;
3 [5]. (annulled)
Article 5. Insurance broker certificates
The Insurance broker certificate specified in clause 2 Article 138 of the Law on Insurance Business dated June 16, 2022 may be one of the following certificates:
1. Insurance broker certificate issued by domestic insurance training institutions;
2. Insurance broker certificate issued by foreign insurance training institutions.
Article 6. Certificates of training in insurance auxiliary services
The certificate of training in insurance auxiliary services defined in point b of clause 1, point b of clause 2 of Article 143 in the Law on Insurance Business dated June 16, 2022 may be one of the following certificates:
1. A domestic insurance training institution may issue the following types of Certificates in Insurance Consulting:
a) Certificate in Life Insurance Consulting;
b) Certificate in Non-life Insurance Consulting;
c) Certificate in Health Insurance Consulting.
2. A domestic insurance training institution may issue the following types of Certificates in insurance underwriting:
a) Certificate in Life Insurance Underwriting;
b) Certificate in Non-life Insurance Underwriting;
c) Certificate in Health Insurance Underwriting.
3. A domestic insurance training institution may issue the following types of Certificates in Insurance Loss Adjusting:
a) Certificate in Adjusting or Assessment of Ship Loss or Damage or Ship Owner’s Civil Liability, Marine and Inland Transit Cargo Insurance (hereinafter referred to as “Certificate in Loss Adjusting in Marine Insurance”);
b) Certificate in Loss Adjusting in Aviation Insurance;
c) Certificate in Loss Adjusting in Non-life Insurance (except Marine Insurance, Aviation Insurance).
4. A domestic insurance training institution may issue the following types of Certificate in Insurance Claims Assistance:
a) Certificate in Life Insurance Claims Assistance;
b) Certificate in Non-Life Insurance Claims Assistance;
c) Certificate in Health Insurance Claims Assistance;
5. A foreign insurance training institution may issue:
a) The insurance certificates specified in point a of clause 2 of Article 4 herein shall have the same validity as the certificates specified in point a of clause 1, point a of clause 2 and point a of clause 4 of this Article;
b) The insurance certificates specified in point b of clause 2 of Article 4 herein shall have the same validity as the certificates specified in point b of clause 1, point b of clause 2 and point b of clause 4 of this Article;
c) The insurance certificates specified in point c of clause 2 of Article 4 herein shall have the same validity as the certificates specified in point c of clause 1, point c of clause 2 and point c of clause 4 of this Article;
d) The Certificate in Loss Adjusting in Non-life Insurance awarded by foreign insurance training institutions shall have the same validity as the certificates defined in clause 3 of this Article;
Article 7. Domestic insurance training institutions
Domestic insurance training institution(s) referred to herein shall be the entity(ies) having competence in providing insurance training courses, including:
1. Training institutions established by state agencies, such as Institutes, academies or higher education institutions;
2. Training institutions directly or indirectly under entities instituted by state agencies;
3. Other training institutions having legal personality that are established and operate legally in Vietnam.
Article 8. Foreign insurance training institutions
Foreign insurance training institution(s) referred to herein shall be the entity(ies) having competence in providing insurance training courses, including:
1. Training institutions that are under or affiliated with insurance management and supervision agencies of foreign countries; or training institutions designated by insurance management and supervision authorities of foreign countries or mandated by the laws of these countries to conduct training and issue certificates in the field of insurance;[6]
2. ASEAN Insurance Training and Research Institute (AITRI); Societies of Actuaries that are official members of the International Society of Actuaries;
3. Training organizations of countries entering into agreements on mutual recognition of insurance certificates with Vietnam;
4. Training institutions that are under foreign insurance corporations and foreign reinsurance corporations, and foreign insurance brokerage corporations. These training institutions must provide training in insurance as prescribed by laws of the locations where the corporations are headquartered or where the training institutions are headquartered; [7]
5. Other international training organizations: Australian and New Zealand Institute of Insurance and Finance (ANZIIF), Chartered Insurance Institute (CII), Insurance Institute of Canada (IIC), Institute of Risk Management (IRM), The Institutes, Risk Management Institute of Australia (RMIA), Chartered Institute of Loss Adjusters (CILA); Australian Institute of Chartered Loss Adjusters (AICLA); Lloyd's Maritime Institute; Life Office Management Association (LOMA); Life Insurance Marketing and Research Association (LIMRA) and other international training organizations that are foreign insurance training institutions with programs for training in insurance certificates, insurance broker certificates, and certificates of training in insurance auxiliary services corresponding to the programs for training in insurance certificates, insurance broker certificates, and certificates of training in insurance auxiliary services stipulated in this Circular. [8]
Article 9. Content of training for insurance-related certificates
A domestic insurance training institution shall provide training for insurance-related certificates according to the following content:
1. Content of training for life insurance certificates:
a) General knowledge about insurance and reinsurance;
b) Basic knowledge about lines or sublines of life and health insurance;
c) Vietnam’s domestic law on life and health insurance business.
2. Content of training for non-life insurance certificates:
a) General knowledge about insurance and reinsurance;
b) Basic knowledge about lines or sublines of non-life and health insurance;
c) Vietnam’s domestic law on non-life and health insurance business.
3. Content of training for health insurance certificates:
a) General knowledge about insurance and reinsurance;
b) Basic knowledge about lines or sublines of health insurance;
c) Vietnam’s domestic law on health insurance business.
Article 10. Content of training for insurance broker certificates
A domestic insurance training institution shall provide training for insurance broker certificates according to the following content:
1. General knowledge about insurance and lines or sublines of insurance;
a) Concepts of insurance and reinsurance;
b) Basic knowledge about lines or sublines of life, non-life and health insurance;
2. Vietnam’s domestic law on insurance business and insurance brokerage.
3. Rules, responsibilities and code of ethics for practising as an insurance broker.
4. Professional skills and practising as an insurance broker.
Article 11. Content of training for certificates of training in insurance auxiliary services
1. A domestic insurance training institution shall provide training for certificates of training in insurance auxiliary services according to the following content:
a) Vietnam’s domestic law on insurance business and insurance auxiliary service business;
b) Fundamentals of insurance;
c) Knowledge about lines or sublines of insurance;
d) Procedures for conduct of insurance auxiliary services.
2. The training contents defined in clause 1 of this Article must correspond to the line or subline of each type of certificates of training in insurance auxiliary services specified in Article 6 herein.
Section 2. APPLICATIONS, PROCEDURES FOR CERTIFICATION EXAMS, issuance, revocation or replacement OF insurance certificates, insurance broker certificates, certificates of training in insurance auxiliary services BY DOMESTIC INSURANCE TRAINING INSTITUTIONS
Article 12. Conduct of insurance certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services[9]
1. Exams shall be conducted at centralized exam venues as notified by the exam conductors.
2. By December 31 of each year, exam conductors shall announce the timetables and venues when and where the insurance certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services will be conducted for the following year on the CEMS.
Article 13. Applications and procedures for registration of insurance certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services [10]
1. Candidates shall register for exams and directly transfer exam fees through training institutions or transfer online via the CEMS. Training institutions and candidates shall register for exams via the CEMS at least 10 days before the exam date.
2. An application for exam registration includes: The application form as stipulated in Appendix No. 1a enclosed herewith.
3. 03 working days before the exam date, the exam conductor shall publish the list of candidates on the CEMS (if these candidates have submitted the sufficient applications and paid exam fees in full).
Article 14. Question papers, exam duration and conditions for passing insurance certification exams, insurance broker certification exams, exams for certificates of training in insurance auxiliary services
1. Each question paper designed for the insurance certification exam or insurance broker certification exam shall consist of 60 questions to be answered within 90 minutes while, for the exam for a certificate of training in insurance auxiliary services, 80 quizzes to be answered within 120 minutes.
2. Any candidate correctly answering at least 70% of total number of exam questions shall be deemed as passing the certification exam that he/she has taken.
Article 15. Approval and notification of insurance certification exam results, insurance broker certification exam results and results of exams for certificates of training in insurance auxiliary services [11]
Exam conductors shall issue Decisions on approval of exam results; inform exam results to candidates and training institutions where candidates apply for participation in exams to notify such results to these candidates (via the CEMS) 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 certificates and certificates of training in insurance auxiliary services
1. Based on the Decisions on approval of exam results, domestic insurance training institutions shall issue insurance certificates, insurance broker certificates, and certificates of training in insurance auxiliary services to candidates passing the exams who have registered for these exams with these training institutions. Exam conductors shall issue insurance certificates, insurance broker certificates, and certificates of training in insurance auxiliary services to candidates passing the exams who have registered for these exams directly via the CEMS. [12]
2. The issuance of a certificate must be completed within 10 days from the day on which the decision to approve the exam results is issued. The awarded certificate shall be made using the templates specified in Appendices enclosed herewith: Appendix 1 (insurance certificate template), Appendix 2 (insurance broker certificate template), Appendix 3 (template of certificate of training in insurance auxiliary services).
3. Within 05 working days following the issuance of insurance certificates, insurance broker certificates and certificates of training in insurance auxiliary services, training institutions shall update the list of certificates that they have issued on the CEMS by using the Form defined in Appendix 4 hereto, including the following information:
a) Certificate holder’s personal information (including full name, birth date, ID card/Citizen ID card/Passport number)[13]);
b) Name/type of certificate;
c) Date of issuance;
d) Certificate reference number.
Article 17. Appeal for insurance certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services and handling of appeal results[14]
1. The appeal shall only apply to paper-based exams. The candidate (appellant) shall submit an appeal to the training institution that will send it to the exam conductor (via the CEMS) or directly submit it via the CEMS (if the candidate directly registers for the exam on the CEMS) within 20 days of the approval for the exam results by the exam conductor. The appeal forms are specified in Appendix 5 and Appendix 5a enclosed herewith.
2. The exam conductor shall regrade the exams and update the outcome of the appeal on the CEMS within 05 working days of the receipt of the appeal from the candidate (appellant).
3. On the basis of the outcome of the appeal, the exam conductor shall issue a decision to adjust the exam results (if any) and issue a certificate to the candidate who passed the exam directly via the CEMS or send a notification to the training institution which will issue a certificate as prescribed in Article 16 herein.
Article 18. Revocation and replacement of insurance certificates, insurance broker certificates and certificates of training in insurance auxiliary services
Domestic insurance training institutions shall revoke and replace insurance certificates, insurance broker certificates and certificates of training in insurance auxiliary services according to the following regulations:
1. The certificate shall be revoked if:
a) Persons neither participating in nor passing the certification exam are awarded the aforesaid certificate;
b) Candidates amend, deceive, or falsify personal identity papers (including Citizen ID card/old-type ID card/Passport) to be eligible to take the certification exam;
c) Candidates are impersonated to pass the exam;
d) Such revocation is requested by competent state authorities in accordance with law.
2. The certificate may be replaced when one of the holder’s personal information mentioned hereunder is wrong or contains any errors:
a) Last name/Middle name/First name;
b) Date of birth;
c) ID card/Citizen ID card/Passport number[15].
3. Within 05 working days after the training institution has established that the awarded certificate falls into the situations prescribed in clause 1 or 2 of this Article, the training institution shall carry out the process of revoking and replacing the awarded certificate.
4. Within 3 working days of the revocation or replacement of the certificate, the training institution shall inform the exam conductor of the list of certificates subject to revocation and replacement as prescribed in clauses 1 and 2 of this Article; publish the list of certificates subject to revocation on its website. Within 03 working days of receipt of the forgoing notice from the training institution, the exam conductor shall make information about the revoked certificates available to the public on CEMS. [16]
5. Persons whose certificates are revoked as stipulated in clause 1 of this Article shall be disqualified from participating in insurance certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services during the next 12 months after revocation.
6. Training institutions violating regulations on the issuance of certificates as prescribed in point a of clause 1 of this Article shall be prohibited from registering plans to conduct exams and issue insurance certificates, insurance broker certificates and certificates of training in insurance auxiliary services during the next 03 years following the day on which their violation (specifically, first violation) is discovered. If such violation recurs, prohibition from registering plans to conduct exams and issue the insurance certificates, insurance broker certificates and certificates of training in insurance auxiliary services shall continue.
Chapter III
INSURANCE AGENT CERTIFICATES
Section 1. Content of training for insurance agent certificates
Article 19. Insurance of agent certificates
1. This type of certificate is classified into the followings:
a) Basic life insurance agent certificate;
b) Unit-linked life 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. The insurance agent certificates issued before January 1, 2023 shall remain in use by December 31, 2025 at the latest. When the conversion to the insurance agent certificates defined herein is pending, the insurance agent certificates issued before January 1, 2023 may be converted as follows:
a) The insurance agent certificate issued by a life insurance agent training institution [17] shall have the same validity as the Certificate defined in point a of clause 1 of this Article;
b) The Unit-linked insurance agent certificate issued by a life insurance agent training institution [18] shall have the same validity as the Certificate defined in point b of clause 1 of this Article;
c) The insurance agent certificate issued by a non-life insurance agent training institution [19] shall have the same validity as the Certificate defined in point c, point d and point dd clause 1 of this Article.
3. Types of insurance agent certificates specified in clause 1 of this Article shall be used as follows:
a) Basic life insurance agent certificate: may be used for representing as an agent for life insurance products (except unit-linked insurance product) and health insurance products;
b) Unit-linked life insurance agent certificate: may be used for representing as an agent for unit-linked insurance products;
c) Basic non-life insurance agent certificate: may be used for representing as an agent for non-life insurance products (except marine insurance products, aviation insurance products), products classified into health insurance lines, each of which has the maximum insurance term of 01 year; and casualty insurance products, each of which has the maximum insurance term of 01 year;
d) Marine insurance agent certificate: may be used for representing as an agent for marine insurance products;
dd) Aviation insurance agent certificate: may be used for representing as an agent for aviation insurance products;
e) Health insurance agent certificate: may be used for representing as an agent for health insurance products and casualty insurance products, each of which has the maximum insurance term of 01 year.
Article 20. Content of training for insurance agent certificates
Content of training for insurance agent certificates includes:
1. General knowledge about insurance; Concepts of lines or sublines of insurance corresponding to each type of insurance agent certificates:
a) For basic life insurance agent certificate: General knowledge about insurance, fundamentals and basic knowledge about lines or sublines of life insurance (except unit-linked insurance), health insurance;
b) For unit-linked life insurance agent certificate: General knowledge about financial market; basic knowledge about investment; general knowledge about insurance, fundamentals and basic knowledge about lines or sublines of unit-linked insurance;
c) For basic non-life insurance agent certificate: General knowledge about insurance, fundamentals, basic knowledge about lines or sublines of non-life insurance (except marine insurance, aviation insurance), products classified into lines of health insurance, each of which has the maximum insurance term of 01 year; and casualty insurance products, each of which has the maximum insurance term of 01 year;
d) For marine insurance agent certificate: General knowledge about insurance, fundamentals, basic knowledge about lines or sublines of marine insurance;
dd) For aviation insurance agent certificate: General knowledge about insurance, fundamentals, basic knowledge about lines or sublines of aviation insurance;
e) For health insurance agent certificate: General knowledge about insurance, fundamentals and basic knowledge about lines or sublines of health insurance.
2. Professional ethics or standards of conduct of insurance agents shall be published by socio-professional organizations.
3. Rights and obligations of insurance enterprises, branches of foreign non-life insurance enterprises, mutual microinsurance providers and insurance agents to be exercised and undertaken when carrying out insurance agent activities.
4. The law of Vietnam on insurance business that relevantly governs types of insurance, lines or sublines of insurance with respect to types of insurance agent certificates.
5. Professional skills and practising as insurance agents.
6. Content of training for unit-linked insurance agent certificates for trainees who have held basic life insurance agent certificates, including the contents specified in point b of clauses 1 and 4 of this Article.
7. Content of training for marine insurance agent certificates for trainees who have held basic non-life insurance agent certificates, including the contents specified in point d of clauses 1 and 4 of this Article.
8. Content of training for aviation insurance agent certificates for trainees who have held basic non-life insurance agent certificates, including the contents specified in point dd of clauses 1 and 4 of this Article.
Section 2. Applications and PROCEDURES FOR insurance agent certification exams, issuance, revocation and replacement of insurance agent certificates
Article 21. Conduct of insurance agent certification exams[20]
1. Exam venues:
Insurance agent certification exams shall be conducted at the following venues:
a) Concentrated exam venues in provinces or cities as notified by the exam conductors;
b) Exam venues that are offices located in provincial administrative divisions of insurance agent organizations, social-political organizations with cooperation agreements on insurance agent operations with insurance enterprises, branches of foreign non-life insurance enterprises, and mutual microinsurance providers.
2. In cases where exams are conducted at the exam venues specified in point b clause 1 of this Article, the conduct of exams shall be as follows:
a) Exams shall be conducted on the quaterly basis; in each province or city, only 01 exam is conducted every quarter; there must be at least 70 candidates in each exam;
b) Insurance enterprises, branches of foreign non-life insurance enterprises, mutual microinsurance providers must ensure the necessary material and technical facilities, and arrange separate exam rooms to facilitate the conduct of exams. For computer-based exams, it is necessary to ensure that the computers are functioning properly and are connected to the CEMS, with a minimum number of computers equal to 25% of the number of candidates.
3. Before October 31 of each year, the exam conductors shall announce the exam timetables and locations at the centralized exam venues specified in point a clause 1 of this Article for the following year on the CEMS.
Article 22. Applications and procedures for registration of insurance agent certification exams[21]
1. Exam registration:
a) For exams conducted at the venues specified in point a clause 1 Article 21 of this Circular: By the 25th day each month, insurance enterprises, branches of foreign non-life insurance enterprises, and mutual microinsurance providers must register for the insurance agent certification exam for the following month through the CEMS. The exam conductor shall notify the list of exams at least 02 working days prior to the end of the month;
b) For exams conducted at the venues specified in point b clause 1 Article 21 of this Circular: At least 15 days prior to the end of each quarter, insurance enterprises, branches of foreign non-life insurance enterprises, and mutual microinsurance providers must register for the insurance agent certification exam for the following quarter through the CEMS. The exam conductor shall notify the list of exams at least 10 days prior to the end of the quarter;
c) An application for exam registration includes: The exam registration forms specified in Appendix 6a, Appendix 6b and Appendix 6c enclosed herewith.
2. For exams conducted at the venues specified in point b, clause 1, Article 21 of this Circular, in the event that an insurance enterprise, a branch of a foreign non-life insurance enterprise, or a mutual microinsurance provider intends to change the exam information after being notified by the exam conductor (exam venue, exam timestable, cancellation of the exam), the insurance enterprise, branch of the foreign non-life insurance enterprise, or mutual microinsurance provider must send a notification to the exam conductor (via the CEMS) at least 05 working days prior to the exam date. By reason of failing to comply with the foregoing, the exam conductor shall not be allowed to conduct exams at the venues specified in point b of clause 1 of Article 21 of this Circular for one quarter (in the case of a first violation) or two quarters (in the case of a repeat violation).
3. At least one working day prior to the exam date, insurance enterprises, branches of foreign non-life insurance enterprises, and mutual microinsurance providers must update the list of candidates registered for the insurance agent certification exam by each exam on the CEMS using the form specified in Appendix No. 7 enclosed herewith.
4. Insurance enterprises, branches of foreign non-life insurance enterprises, and mutual microinsurance providers shall pay exam fees for candidates included in the list of candidates on the CEMS as stipulated in Clause 3 of this Article. In the event that the exam fees are not fully paid, insurance enterprises, branches of foreign non-life insurance enterprises, and mutual microinsurance providers shall not be allowed to register for the insurance agent certification exam for the following month (if the exam is conducted at the venues specified in point a, clause 1, Article 21 of this Circular) or for the following quarter (if the exam is conducted at the venues specified in point b, clause 1, Article 21 of this Circular).
Article 23. Question papers, exam duration and conditions of passing insurance agent certification exams
1. For the question papers for insurance agent certification exams stipulated in clause 1 of Article 19 herein, each of these question papers shall contain 40 questions to be answered within 60 minutes.
2. For the question papers for unit-linked insurance agent certification exams to be taken by the candidates that have held the basic life insurance agent certificates; for the question papers for marine insurance agent certification exams, aviation insurance agent certification exams to be taken by the candidates that have held the basic non-life insurance agent certificates, each of these question papers shall be comprised of 20 questions about the corresponding training contents stipulated in clauses 6, 7 and 8 of Article 20 herein and these questions shall be completely answered within 40 minutes.
3. Any candidate answering at least 75% of total questions in a question paper shall be deemed as passing the insurance agent certification exam.
Article 24. Approval and notification of insurance agent certification exam results[22]
The exam conductor shall approve insurance agent certification exam results and send notifications to insurance enterprises, branches of foreign non-life insurance enterprises, or multual microinsurance providers (via the CEMS) within 3 working days from the exam date, for computer-based exams , or within 5 working days from the exam date, for paper-based exams.
Article 25. Appeal for insurance agent certification exams and handling of appeal results[23]
1. The appeal shall only apply to paper-based exams. A candidate (an appellant) shall submit their appeals through an insurance enterprise, a branch of a foreign non-life insurance enterprise, or a multual microinsurance provider that will send them to the exam conductor (via the CEMS) within 20 days from the date the exam conductor approves the exam results. The appeal forms are specified in Appendix 5 and Appendix 5a enclosed herewith.
2. The exam conductor shall regrade the exams and update the outcome of the appeal on the CEMS within 05 working days of the receipt of the appeal from the candidate (appellant).
3. On the basis of the outcome of the appeal, the exam conductor shall adjust the exam results (if any), issue an insurance agent certificate as prescribed in Article 26 of this Circular.
Article 26. Insurance of insurance agent certificates
1. Within 03 working days from the approval for the exam results, the exam conductor shall issue an insurance agent certificate to the candidate who passed the exam. [24]
2. Insurance agent certificates shall be electrically issued via CEMS. The template of the insurance agent certificate shall be made in accordance with the provisions of Appendix 9 enclosed herewith.
3. Insurance enterprises, branches of foreign non-life insurance enterprises, or mutual microinsurance providers shall receive the list of insurance agent certificates via CEMS by logging in the accounts that they have been granted when registering the plans to conduct insurance agent certification exams.
4. Individuals and organizations may examine insurance agent certificates via CEMS by entering the certificate reference numbers or personal information of the certificate holders, including: Full name, birth date, ID card/Citizen ID card /Passport number[25].
Article 27. Revocation and replacement of insurance agent certificates[26]
The exam conductor shall revoke or replace insurance agent certificates according to the following regulations:
1. A certificate shall be revoked in the following cases:
a) A candidate provides falsified, fake or fraudulent personal identity papers (including Citizen ID/ID card/Passport) to be eligible to take the certification exam;
b) A candidate is impersonated to pass the insurance agent certification exam;
c) An insurance enterprise, a branch of foreign non-life insurance enterprise, mutual microinsurance provider or person has cheated at the conversion of the insurance agent certificate;
d) Such revocation is requested by competent state authorities in accordance with law.
2. A certificate shall be replaced in the cases specified in clause 2 Article 18 hereof.
3. Within 03 working days after the day on which the exam conductor provides evidence demonstrating that the issued insurance agent certificate falls within one of the cases specified in clauses 1 and 2 of this Article, the exam conductor shall carry out the process of revoking and replacing the awarded certificate by removing information shown in the electronic certificate (in case of revocation), or rectifying information shown in the electronic certificate (in case of replacement) on the CEMS.
4. Within 3 working days of the revocation of the certificate, the exam conductor shall publish the list and information on certificates subject to revocation specified in clause 1 of this Article on the CEMS.
5. Persons whose certificates are revoked as stipulated in clause 1 of this Article shall be disqualified from participating in insurance agent certification exams during the next 12 months after revocation.
Section 3. Conversion of insurance agent certificates
Article 28. Principles of conversion of insurance agent certificates
The conversion of insurance agent certificates issued before January 1, 2023 into the insurance agent certificates defined in this Circular shall adhere to the following principles:
1. Insurance agent certificates issued by life insurance agent training institutions [27] may be converted into the basic life insurance agent certificates.
2. Unit-linked insurance agent certificates issued by life insurance agent training institutions [28] may be converted into the unit-linked insurance agent certificates.
3. Insurance agent certificates issued by non-life insurance agent training institutions [29] may be converted into the basic non-life insurance agent certificates.
4. The conversion of insurance agent certificates must be completed by December 31, 2025 at the latest. The insurance agent certificates issued before January 1, 2023 shall be invalid as from the date of conversion into the insurance agent certificates defined herein or January 1, 2026, whichever occurs first.
5. Insurance agent certificates shall be electrically converted and the electronic versions thereof shall be deposited on CEMS.
Article 29. Applications and procedures for conversion of insurance agent certificates[30]
1. By September 30, 2025 at the latest, an insurance enterprise, a branch of foreign non-life insurance enterprise, or a mutual microinsurance provider shall send a request for conversion of the insurance agent certificate issued before January 1, 2023 into the insurance agent certificate specified in this Circular for their insurance agents that remain active to the converting unit.
2. The request for conversion specified in clause 1 of this Article includes:
a) A request form for conversion of the certificate (enclosed with the list of insurance agents issued the certificate proposing the conversion) made using the form specified in Appendix 10a and Appendix 10b enclosed with this Circular;
b) A certified copy or a valid digitally signed electronic copy, or a copy from the master register of the insurance agent certificate issued before January 1, 2023. A copy from the master register is a copy of the insurance agent certificate from the master register, confirmed by the legal representative and stamped by the training institution that issued the insurance agent certificate;
c) A certified copy of the valid ID card/citizen ID card/passport of the insurance agent. In the case where the information system for handling administrative procedures of the Ministry of Finance has completed the connection and sharing of citizen information verification with the National Population Database, the converting unit shall exploit this information in the National Population Database in accordance with law.
3. Within 15 days of receipt of the request for conversion of the certificate, where that request is not adequate and valid, the converting unit shall issue a formal request for the insurance agent training institution to supplement and complete the request.
Within 90 days of receipt of the adequate and valid request, the converting unit shall convert the certificate issued before January 01, 2023 to the certificate specified herein. The template of the converted insurance agent certificate shall be made in accordance with the provisions of Appendix 9 enclosed herewith.
Chapter IV
RESPONSIBILITIES OF ORGANIZATIONS AND INDIVIDUALS INVOLVED IN CONDUCT OF CERTIFICATION EXAMS, ISSUANCE, REVOCATION AND REPLACEMENT OF INSURANCE CERTIFICATES, INSURANCE AGENT CERTIFICATES, INSURANCE BROKER CERTIFICATES AND CERTIFICATES OF TRAINING IN INSURANCE AUXILIARY SERVICES
Article 30. Responsibilities of the Insurance Supervisory Authority[31]
1. Develop a system of questions for insurance certification exams, insurance agent certification exams, insurance broker certification exams, and exams for certificates of training in insurance auxiliary services according to the corresponding training contents for each type of certificates as stipulated in this Circular (excluding contents related to skills and practical practice, and the procedures for carrying out the services).
2. Manage and supervise the conduct, issuance, revocation and replacement of insurance certification exams, insurance agent certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services and the conversion of insurance agent certificates.
Article 30a. Responsibilities of the Vietnam Insurance Development Institute (VIDI)[32]
1. Issue regulations on insurance certification exams, insurance agent certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services.
2. Notify the exam timetables, venues, and lists of exams for domestic insurance training institutions, insurance enterprises, branches of foreign non-life insurance enterprises, and multual microinsurance providers.
3. Set exams, conduct exams, approve and notify results of insurance certification exams, insurance agent certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services.
4. Organize appeals for results of paper-based insurance certification exams, paper-based insurance agent certification exams, paper-based insurance broker certification exams and paper-based exams for certificates of training in insurance auxiliary services.
5. Issue insurance certificates, insurance broker certificates, and certificates of training in insurance auxiliary services for candidates who passed the exams and registered for the exams via the CEMS; issue, revoke and replace insurance agent certificates; convert insurance agent certificates issued before January 1, 2023 to the insurance agent certificates stipulated in this Circular.
6. Notify the list of individuals whose insurance certificates, insurance agent certificates, insurance broker certificates, and certificates of training in insurance auxiliary services have been revoked on the CEMS.
7. Develop, manage, administer, operate, maintain and upgrade the CEMS.
8. Collect, manage and use fees for insurance certification exams, insurance agent certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services in accordance with laws on public service providers.
Article 31. Responsibilities of insurance enterprises, branches of foreign non-life insurance enterprises, and multual microinsurance providers [33]
1. Conduct the training of insurance agents in accordance with the provisions outlined in Article 20 of this Circular.
2. Register for exams, update the list of candidates taking the exams, and pay fees for insurance agent certification exams in accordance with the provisions of Article 22 of this Circular.
Article 32. Responsibilities of domestic insurance training institutions
1. Domestic insurance training institutions shall provide training in insurance certificates, insurance broker certificates and certificates of training in insurance auxiliary services according to the contents specified in Article 9, Article 10, Article 11 hereof.
2 [34]. Make the list of candidates taking the exams and pay exam fees for candidates registered for the exams through training institutions as per the notifications of the exam conductors.
3. Issue, replace or revoke insurance certificates, insurance broker certificates and certificates of training in insurance auxiliary services.
4 [35]. Notify the list of individuals holding insurance certificates, insurance broker certificates, and certificates of training in insurance auxiliary services issued, replaced, or revoked by the exam conductors; announce the list of individuals whose insurance certificates, insurance broker certificates, and certificates of training in insurance auxiliary services have been revoked on the websites of the training institutions.
5. Deposit documents and records on issuance, revocation or replacement of insurance certificates, insurance broker certificates and certificates of training in insurance auxiliary services within the jurisdiction of training institutions as prescribed by archiving laws.
Article 33. Responsibilities of candidates, proctors and graders
1. Responsibilities of candidates:
a) Bear responsibility for completeness, truthfulness and accuracy of information provided in their exam applications;
b) Comply with the Regulations on insurance certification exams, insurance agent certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services.
2. Responsibilities of proctors and graders:
Proctor exams and mark answer sheets under the Regulations on insurance certification exams, insurance agent certification exams, insurance broker certification exams and exams for certificates of training in insurance auxiliary services.
Chapter V
IMPLEMENTATION PROVISIONS
Article 3. Effect[36]
1. This Circular comes into force from January 01, 2023.
2. This Circular shall replace the Circular No. 125/2018/TT-BTC dated December 24, 2018 of the Ministry of Finance on issuance of insurance agent certificates and the Circular No. 65/2019/TT-BTC dated September 16, 2019 of the Ministry of Finance on content of training, conduct of exams, issuance and recognition of certificates of training in insurance auxiliary services.
3. Difficulties that arise during the period of implementation of this Circular should be reported to the Ministry of Finance for consideration and settlement./.
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