Who Has Done Their CII/DIP CII/ACII?

rs65 wrote: »

As you say, it is mandatory so it's your choice.

Maybe not easy but plenty of people pass it.

Have you looked at M05 ?

Hi rs65

Many thanks for the swift response, but it seems my question hasn't been clear enough.

There's no doubt in my mind that P05/M05 is useful to insurance people in the UK. (CII is a renowned institute and surely they made this course mandatory not without reason)

I'm only wondering how useful you guys consider the content of P05/M05 to someone working in insurance outside the UK.

If P05/M05 covers a fair amount of general, international and/or non-UK law topics then I would imagine it's still fairly useful to people outside the UK as well. However if it only covers very UK-specific business law, then I guess I should consider this course not very useful to me. I am not afraid of difficult exams and/or hard work, but do only want to spend time on studying stuff that's useful (to me)

Looking forward to your further thoughts.
Thanks

rs65 wrote: »

As useful as any other CII exam in isolation.

My whole point is that the usefulness of the CII exams seems to differ quite a bit, especially to people outside the UK.

Examples:
- "P92 - Insurance Business and Finance" seems useful to anyone working in insurance, independent of whether that's inside or outside the UK, because mathematical logic, finance, insurance profitability ratios etc., are all the same all over the world anyway.
- Contrary, "P86 - Personal insurances" is so UK-specific that -I personally felt/feel- it is quite a waste of time for anyone not living in the UK and/or working in UK insurance.
- "LM1 and LM2" are probably only truly useful if you happen to interact with the London Market at least every once in a while.

rs65 wrote: »

The point is if you want to achieve Dip or above then you have to do it.

Yes I understand, but please ignore this point. I guess I haven't been clear enough about this before, but I am not taking these exams because I must obtain a certain CII level. My sole motivation is expanding my understanding of insurance in general (I have no desire to only expand my knowledge in UK-specific insurance).

I was just hoping to get some advice from you guys and girls that have already taken the P05/M05 exam, on whether you feel it's worth it for me (as a non-UK resident) to spend time it.

rs65 wrote: »

What is your non underwriting role?

Do you have any involvement in contracts or insurance governed by English law?

I would recommend it, but you are best placed to decide if its relevant or worth it to you.

Quite broad; Operations + IT
No involvement in English law contracts..

On the one hand I am really motivated to keep doing these CII exams and progress my overall CII qualification, yet on the other hand I'm not motivated at all to do any further exams like P86 that aren't useful at all to me apart from the CII credits they bring. Especially if it concerns an exam that experienced users on online forum refer to as 'horrid'..

Hi CaseyN,

I'd say that P05 would be of little use to someone who doesn't need to know about UK law. I think it is a useful qualification to anyone working in UK insurance/finance as it gives you a good broad understanding but if your work doesn't involve any contracts that are governed by UK law I don't think it would be much use. On the other hand, if English law has influenced the law of the country you work in, it could be of some use.

It's hard work that exam, not for the faint hearted, so I wouldn't have chosen to do it if it hadn't been a compulsory unit for the qualification I was working towards. If you need it to get your Dip CII, you might just have to bite the bullet and get on with it. Some parts are interesting but there's a lot of cases, dates etc you have to memorise.

bouncydog1 wrote: »

Two exams away from the qualification is an excellent achievement. I would say persevere as once you have it, it's done. You do of course have to continue with keeping up CPD but working in industry that's not difficult. You might not stay in Germany for ever so it will be useful if you decide to move. To employers it's confirmation of knowledge!

Thanks for your thoughts bouncydog1

I actually thought I had come to my final decision yesterday to stop pursuing a CII qualification, but after reading your response and the syllabus I feel I at least should give it a shot. Moreover there seem quite some non-very-UK-specific CII exams out there I could pursue after P05/M05.

What version of the exam would you guys recommend? P05 or M05?