LIFE — Life Insurance Salesperson
Administered by LIA-ROC · 150 MCQs · Combined pass mark 140
Who needs this licence?
Anyone selling or recommending life, health, accident or annuity insurance products in Taiwan must first pass the Life Insurance Salesperson exam and be registered as a salesperson with the Life Insurance Association of the R.O.C. (LIA-ROC) through their employing insurer. For most life-insurance new hires, LIFE is the first licence on their training plan.
Products covered
- Traditional life insurance (whole life, term, endowment, savings)
- Health insurance (medical, critical illness, long-term care, cancer)
- Accident (personal injury) insurance
- Traditional annuities
Investment-linked policies require INVL in addition; foreign-currency policies require FX.
Exam format
- 100 regulation MCQs (1 mark each, 80 minutes)
- 50 practice MCQs (2 marks each, 60 minutes)
- Pass standard: the two papers must total 140 or more, with neither below 60 (single-paper entry not permitted)
- A separate common paper, Financial Market Knowledge & Professional Ethics (100 questions), passes at 70 and stays valid for 5 years
Exact sitting time and registration procedure follow LIA-ROC announcements.
Core study scope (concept level)
- Insurance Act: contract elements, rights and duties of policyholder / insured / beneficiary, insurable interest, duty of disclosure, principles of multiple insurance.
- Insurance Enterprise Act: insurer formation, operations, and supervision basics.
- Insurance Salesperson Management Regulations: registration, deregistration, solicitation conduct, disciplinary actions, continuing education.
- Sales-conduct notices: FSC and LIA-ROC requirements on suitability, disclosure and sales process records.
- Product fundamentals: structure, coverage and common exclusions across life, health, accident and annuity lines.
- Model policy clauses: key terms and consumer-protection points in common life products.
Specific article numbers and the latest model clauses are governed by LIA-ROC and FSC official publications.
Recommended preparation
- Start with official training materials or LIA-ROC's designated readings to lock in the Insurance Act and Insurance Enterprise Act.
- Focus practice on regulation questions (100 of 150) and sales-conduct notices.
- Use timed 150-question mocks to calibrate pace; target a stable 70+.
- Maintain an error log focused on statutory wording and policy clause language.
Further reading
Free Practice Questions
These 4 questions are identical to the app's free preview for this exam — tap an option to answer and see the explanation instantly. More free questions →
A has long borne the education expenses of his nephew. Under the insurable interest provisions of the Insurance Act, does A have an insurable interest in the nephew?
Why: Under Article 16, subparagraph 2 of the Insurance Act, the proposer has an insurable interest in a person who relies on him for living or education expenses. The key is the economic relationship of reliance, not the closeness of blood relation, so A has an insurable interest in the nephew who relies on him for education expenses.
Under the Insurance Act, when a creditor takes out personal insurance on a debtor to protect the debt, what is the basis for the insurable interest?
Why: Under Article 16, subparagraph 3 of the Insurance Act, the proposer has an insurable interest in the debtor's life or body, allowing a creditor to take out personal insurance on the debtor to ensure the debt remains protected if an event befalls the debtor.
Under the model policy provisions for interest-sensitive annuities, which of the following correctly describes the nature and use of the "declared interest rate"?
Why: According to the definitions in the model policy provisions for interest-sensitive annuities, the declared interest rate is the rate declared by the insurer in the month of the contract effective date or each policy anniversary and used to calculate that year's annuity policy reserve; it is set with reference to a designated index and may not be negative. The rate used to calculate the annuity amount, by contrast, is the assumed interest rate.
Regarding the main distinction between a deferred annuity and an immediate annuity, which of the following statements is most accurate?
Why: A deferred annuity, after the policy is taken out, must pass through an accumulation period during which the annuity policy reserve builds up, and payments begin only on the annuity commencement date. A (traditional) immediate annuity, by contrast, enters the annuity payment phase immediately once the contract is concluded and the premium is paid in full, with no accumulation period; it is commonly purchased on a single-premium basis.
Complete LIFE question bank + mocks
PrepLicense: TW Insurance ships the full LIFE question bank with bilingual explanations and mock exams aligned to current public statutes.
Independent study aid. Not affiliated with or endorsed by the FSC, LIA-ROC, NLIA, or TII. Exam rules are governed by LIA-ROC.
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