Certificate in Reinsurance

For Whom

  • Executives and Staff in reinsurance companies who support the underwriting, technical accounting and claims functions in their organisations
  • Executives and Staff in reinsurance broking firms who support the broking, administrative, technical accounting and claims functions in their organisations
  • Executives and Staff in reinsurance departments of direct insurance companies who support the placement, technical accounting and claims functions in their organisations
  • Non-operational support staff in reinsurance and reinsurance broking companies
  • Staff of regulatory bodies whose job responsibilities require a broad understanding of the principles and practical applications of reinsurance
  • Participants should, preferably, have 6 months of working experience in reinsurance companies or direct insurance companies or insurance intermediaries

Objective

To provide certification for those in the insurance and related sectors whose jobs require them to have working knowledge of reinsurance principles and practices, as well as those who wish to gain basic understanding of the reinsurance.

Contents

  • Chapter 1 - Introduction to Reinsurance
  • Chapter 2 - The Reinsurance Market
  • Chapter 3 - Forms of Reinsurance
  • Chapter 4 - Facultative Reinsurance
  • Chapter 5 - Proportional Treaties
  • Chapter 6 - Non-Proportional Treaties
  • Chapter 7 - Reinsurance Accounting
  • Chapter 8 - Contract Wordings
  • Chapter 9 - Life Reassurance
  • Chapter 10 - Office Practice Procedure
  • Glossary

Structure & Format

100 multiple-choice questions, comprising:
Part I - 80 questions; and
Part II - 20 questions involving calculations

Duration

2 hours.

Entry Requirement

Candidates who register for the CRI programme must pass the Basic Insurance Concepts And Principles (BCP) examination as a prerequisite for CRI examination registration.

Minimum Passing Grade & Result Strip

To obtain the SCI Certification in Reinsurance, the candidate must achieve:
(a) a minimum grade of 40 marks for Part I and 10 marks for Part II; and
(b) an overall passing grade of 70%, that is 70 marks.

One mark will be awarded for each correct answer to a question of each Part.
No mark will be deducted for any wrong or blank answer.
No Certificate will be issued. Only Result Slip will be issued.

Examination & Registration Fees (inclusive of prevailing GST)

For details, please please refer to the Exam Fees section.

Study Materials / Updates

Candidates would use the eBook to prepare for their examinations. Please note that hard copy study texts will no longer be issued. Any updates to the contents of the study text will be incorporated into the eBook. You may refer to the Version Control Record found at the back of the eBook to check the updates.

For details, please refer to Study Texts section.

Examination Mode

English Medium - Computer Screen Examination (CSE)
The candidate can self-study for the closed book examination.

Examination Frequency & Schedule

The examination is normally conducted two to four times a year on a weekday.

For details of the examination dates, please refer to the Examination Schedule section.

Examination Resitting

There is no limit on the number of times that a candidate can sit for an examination.

Exemption

No exemption is granted.

Registration

For details, please refer to the Examination Registration Policies.

CPD Hours

Upon passing the examination for this module, you are entitled to 2 CPD Hours.

Recognition of Prior Learning (RPL) credits awarded by the Chartered Insurance Institute (CII)

All candidates who pass the CRI examination are eligible to apply for 15 Certificate-level non-unit specific credits in the Insurance qualifications framework at the following link: www.cii.co.uk/prior-learning. Candidates are however advised to familiarise themselves with the CII RPL Scheme rules and application process before submitting their applications.

Please take note that the above-mentioned CII RPL Credits are valid until 31 January 2023.

It is the sole responsibility of the candidate concerned to apply directly to the CII for any RPL Credit subject to the terms and conditions as specified by the CII.

Please take note of the following important statement from the CII:

  1. At its sole discretion the Chartered Insurance Institute reserves the right to make, amend and or withdraw credit awards for prior learning the subject of this application at any time, on due notice as it sees fit and without monetary compensation. Under no circumstances will the Chartered Insurance Institute accept any liability for consequential indirect or special losses or special damages of any kind arising out of or in any way connected with the awarding or withdrawal of credit awards for prior learning.
  2. The award of credits for prior learning in the CII's qualification framework is a privilege and not a right and it is expressly agreed that there is no intent to bring legal relations into being or otherwise establish a contractual relationship between the parties.

Programme Changes

The SCI solely reserves the right whether or not to accept any candidate, or to make any changes (including the fees) owing to any unforeseen circumstances, or when it considers necessary or appropriate to do so.

Examination Registration

Registration of any examination must be made online at www.scicollege.org.sg accordingly.

How To Pay

Payment can be made by Credit Card (VISA or MasterCard) which is the only payment option for online individual registration.

Confirmation Of Registration

A Confirmation of Examination Registration will be sent to the candidate who has registered and paid up.

Cancellation of Registration

Cancellation or withdrawal of examinations will NOT BE ALLOWED and no refund of fees will be made. NO substitution or replacement of candidate is allowed.

Therefore, please check carefully before you submit the Registration.
You are allowed to change your registered examination for M5, M8, M8A, M9, M9A, HI, BCP, PGI, ComGI, CRI based on the SCI’s prevailing rescheduling policy. If you wish to change from day to evening session, you will have to pay the top-up fee and administrative fee (if any), payable only via Credit Card. If you wish to change from evening to day session, you are also allowed to change, subject to the SCI’s prevailing rescheduling policy. However, no refund of the examination fee will be made. You may refer to FAQ No. 17 for the SCI’s prevailing rescheduling policy.

The administrative fee applicable for the change of examination date / time varies depending on when your request is submitted, as follows :

If Candidates Submit Their Request: Administrative Fee Payable
7 or more working days (excluding weekends and public holidays) before examination date
  • No fee is payable for the first time a request to change the examination date/time is made for a particular examination.
  • An administrative fee of S$32.40 (inclusive of prevailing GST) per request is payable for subsequent request to change the examination date/time for that particular examination.
Less than 7 working days but more than 2 working days (excluding weekends and public holidays) before examination date
  • An administrative fee of S$32.40 (inclusive of prevailing GST) per request is payable.
2 working days or less (excluding weekends and public holidays) before examination date
  • No re-scheduling is allowed

Note: Counting of the days does not include the actual examination date itself.

APPLICATION FOR LETTER OF CERTIFICATION / TRANSCRIPT

For Certificate / Basic Level Examinations:

SCI does not reissue any result slip or certificate. However, any candidate who has misplaced the result slip or certificate can apply for the Letter of Certification. Application for the Letter of Certification must be made online via SCI website. Payment must be made by Credit Card (Visa or MasterCard).  The required administrative fees and supporting documents as specified in the online Application Form must be attached upon submission. Otherwise, the application will not be processed.

For Professional and Diploma Level Examinations:

SCI does not reissue any result slip or Diploma certificate. However, any candidate who has misplaced the result slip can apply for the Letter of Certification (listing of all subject passes and exemptions obtained to date), while any Diploma holder who has misplaced the Diploma certificate may apply for the Transcript (listing of all subjects passed and exempted). Application for the Letter of Certification and Transcript must be made online via SCI website. Payment must be made by Credit Card (Visa or MasterCard). The required administrative fees and supporting documents as specified in the online Application Form must be attached upon submission. Otherwise, the application will not be processed.

The administrative fees (inclusive of prevailing GST) payable are as follows:
Letter of Certification: S$23.70 (self)
Letter of Certification: S$33.80 (Third Party)

Update Of Personal Particulars

SCI will not entertain any changes to candidate or examination information at the time of examination admission. If you wish to make any changes to your Name, Date of Birth, Identification Number of Type, you are required to come in person to SCI with valid and original supporting documents (strictly no soft copies) before the examination. If your examination is scheduled in the morning at 9.00 am, please call us at 6303 4687 / 6303 4653 / 6303 4679 / 6303 4678 from 8.30 am to 8.50 am and be present in person at SCI with the required supporting documents. If your examination is scheduled in the evening, you are required to reach SCI before 5.00 pm on the same day of your examination with the required supporting documents. Please note that you will not be permitted to sit for the examination if your request for correction/change is not submitted to SCI BEFORE the examination starts.

Edition Of Study Materials

For information on the latest edition of the study materials used in each examination, please refer to the respective examination title.

Examination Results

The Result Slip that you receive after completing your examination as well as all examination results awarded by SCI are final. A Result Slip is an official written document certifying the examination outcome of the candidate in the examination concerned. SCI will not, under any circumstances, entertain any appeals or requests for rechecking of results. Examination results are strictly confidential.

For CMFAS, CGI, HI, CRI, COP, DLI and ChFC01-ChFC07 examinations, candidates will receive their examination results immediately upon completion of the computer mode examinations. For ChFC09 module, a Smart Certificate of Completion will be issued to candidates upon successful completion of all the requirements.

For BCE and ChFC08 examinations, SCI will send the Result Slips directly to the candidates’ mailing addresses by ordinary post (as specified in the candidates’ online User Account) one (1) month from the last examination date.

For Cert FPC, Advanced Certificate, DGIRM and ADGIRM examinations, SCI will send the Result Slips directly to the candidates’ mailing addresses by ordinary post (as specified in the candidates’ online User Account) two (2) months from the last examination date.

Examination results cannot be made known over phone calls or through other electronic means. SCI does not entertain any enquiry in this respect.

All matters concerning the examination are strictly confidential. SCI does not entertain queries on any matter concerning the examination and its results. All results notified are final and no review shall be made by SCI.

Changes & Cancellation

SCI solely reserves the right to make any changes (including the fees) owing to any unforeseen circumstances, or when it considers necessary or appropriate to do so. In case of cancellation by SCI, any fees paid will be refunded in full. The decision of SCI is final.

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Certificate in Reinsurance (CRI) Exemption Request

There is no exemption granted.

For any such enquiry, please refer directly to Notice No: MAS 211 or post your query to MAS through its website at: http://www.mas.gov.sg/Feedback.aspx

If a candidate has any further doubt or query, please check with the Company's Compliance / Human Resource Department.

The SCI regrets that it is not in the position to advise.

Important Dates To Take Note - 2023

Examination Date

Wednesday, 18 January 2023

Wednesday, 26 April 2023

Wednesday, 26 July 2023

Wednesday, 25 October 2023

Registration Deadline For Examination Registration

Monday, 16 January 2023

Monday, 24 April 2023

Monday, 24 July 2023

Monday, 23 October 2023

Examination Time (2 hours)

9.00 am to 11.00 am

9.00 am to 11.00 am

9.00 am to 11.00 am

9.00 am to 11.00 am

Important Dates To Take Note - 2022

Examination Date

Wednesday, 26 January 2022

Wednesday, 27 April 2022

Wednesday, 27 July 2022

Wednesday, 26 October 2022

Registration Deadline For Examination Registration

Monday, 24 January 2022

Monday, 25 April 2022

Monday, 25 July 2022

Monday, 24 October 2022

Examination Time (2 hours)

9.00 am to 11.00 am

9.00 am to 11.00 am

9.00 am to 11.00 am

9.00 am to 11.00 am

English Medium Examination(CSE)

Certificate in Reinsurance (CRI)
  First Attempt
(SkillsFuture Credit not applicable for this Examination)
Subsequent Attempt
(SkillsFuture Credit not applicable for this Examination)
Member (SCI) S$86.40 S$64.80
Non-Member S$108.00 S$86.40

Note:

The applicable fee as specified above includes a non-refundable registration fee of S$21.60 (inclusive of prevailing GST)#.

#GST Rate:

The GST rate will be increased from 7% to 8% with effect from 1 January 2023.
The GST rate will be increased from 8% to 9% with effect from 1 January 2024.
Please refer to the IRAS website at: https://www.iras.gov.sg/taxes/goods-services-tax-(gst) for more details.

Note: The member fees are extended to candidates from SCI member companies. Please ensure that your company is a member before you select 'member fee'. If there is any short payment, the candidate and/or company must remit the short payment to SCI before the examination sitting. To verify if your company is a member, please click on the links above.

Any candidate who fails or is absent from the first attempt examination will be considered as a retake candidate upon subsequent registration for the same examination for any subsequent attempt.

First-timer fee refers to the fee that the candidate needs to pay upon registration of the examination in which he or she is taking only for the first time. The first-timer fee comes with soft copy text and access to mock examination papers.

If the candidate does not pass or is absent from the registered examination, and registers it again for any subsequent attempt based on the same edition of the Study Guide / Study Text, the candidate will then pay the retaker fee.

On the other hand, if there is a release of the new edition of the Study Guide / Study Text in which any subsequent examination is based, the candidate concerned will be treated as a first-timer upon registration of the examination. He or she will then pay the first-time fee which comes with the new edition of the Study Guide / Study Text.

For CMFAS, CGI, HI, CRI, COP, DLI and ChFC01-ChFC07 examinations, candidates will receive their examination results immediately upon completion of the computer mode examinations. For ChFC09 module, a Smart Certificate of Completion will be issued to candidates upon successful completion of all the requirements.

1. E-Book - Activation Of E-Book Link

(a) Upon successful submission of the examination registration and correct payment, SCI will send to the candidate an e-mail which will provide him or her with the website link to access the e-book.

Note: If you do not receive the confirmation email, please check the Spam/Junk folder as it might have been erroneously classified as a spam mail.

(b) SCI will send the website link to the candidate's e-mail address as specified in the candidate's Online Examination Registration Form. The candidate must ensure that he or she specifies the correct e-mail address on this Form. If there is any change in the e-mail address and / or personal particulars, the candidate must update such information via the website link at: https://www.scicollege.org.sg/User/UpdatePersonalParticular

(c) To access the e-book, you may login to the SCI website to access to an electronic copy of the study text (eBook) - only applicable to those examinations with eBook provided. Those candidates who need to re-sit for the examination will be granted access to the eBook again (only applicable to those examinations with eBook provided) once they have successfully registered and made payment to re-take examination.

You should refer to your Confirmation of Examination Registration email for the links to the eBook / eMock Examination Access / Supplementary Notes (if applicable).

2. E-Book - Deactivation Of E-Book Link

(a) SCI will deactivate the e-book access immediately upon the candidate having sat and / or passed the examination.

(b) For any candidate who retakes the examination, SCI will grant the e-book access only upon successful submission of the retake examination registration and correct payment made.

3. E-Book Updates

(a) If there are any updates to the contents of the study text, they will be incorporated into the eBook. Candidate may refer to the Version Control Record found at the back of the eBook to check the updates.

4. E-Book In Hardcopy Version

(a) Candidates can print the eBook at their own expense.

Candidates who have passed the following SCI examinations will be entitled to use the appropriate certification designations as listed in the table below, in accordance with SCI Policy Guidelines on the use of such designations:

Examinations Passed Certification Designations
Upon passing the following Certification in General Insurance modular examinations:
  • Basic Insurance Concepts and Principles (BCP)
  • Personal General Insurance (PGI)
  • Commercial General Insurance (ComGI)
Cert SCI (General Insurance)
Upon passing the following Capital Markets and Financial Advisory Services (CMFAS) examinations:
  • Module 5: Rules and Regulations for Financial Advisory Services
  • Module 9: Life Insurance and Investment-linked Policies
Cert SCI (Life Insurance)
Upon passing the following examinations:
  • Health Insurance
  • Basic Insurance Concepts and Principles (BCP)
    OR
  • Health Insurance
  • CMFAS Module 5: Rules and Regulations for Financial Advisory Services
Cert SCI (Health Insurance)
Upon passing the following examinations:
  • Certification in Reinsurance (CRI)
  • Basic Insurance Concepts and Principles (BCP)
Cert SCI (Reinsurance)

SCI Policy Guidelines on the Use of Certification Designations

  • The prescribed designations may be used only upon successful completion of the examinations as prescribed and approved by SCI Academic Board.
  • Designations conferred by SCI for public use may be used only on business cards and stationery in the certification designation form, and following only the designee's name and any academic degree. Font size must be either similar to or smaller than the font size of the designee's name. No logo or other mark associated with SCI or the designation may be used.
  • Designees can validly provide information about the services that they offer to members of the public. However, such information shall not make reference to the designations in promotional materials or advertisements - whether in a print or online format - that can mislead the public to purchase a product or service, undermine trust and be demeaning to the profession. Designations may be used only in promotional materials following the designee's name as specified above. This means of providing information must also conform to any existing guidelines as stipulated by MAS, as well as the respective insurance industry associations and professional bodies.
  • All appropriate continuing education and / or examination requirements of MAS and the relevant insurance industry associations and professional bodies must be complied with in a timely manner to continue public use of the professional designation. Should such requirements for continuing education and / or validity period not be complied with, all public use of the designation must immediately cease until such situation has been rectified, and explicit permission has been granted by SCI to the designee allowing the resumption of use.
  • Any failure to adhere to these policy guidelines on the use of any such designation will result in the reporting of such ethical violation to SCI Academic Board for any disciplinary action to be taken.
  • Any unauthorised use of any such designation will result in the reporting of such ethical violation to SCI Academic Board for any disciplinary action to be taken.