An intermediary that wishes to provide advice to consumers on a PRSA issued by a life assurance company must be authorized as which intermediary?

• A. Investment intermediary.
• B. Insurance intermediary.
• C. Deposit broker.
• D. Both investment and insurance intermediaries.

Answer: (B)

Providing advice on a PRSA is an insurance activity because PRSAs are life assurance products issued by life assurance companies. An insurance intermediary is authorised to advise on these policies, including their terms, benefits, charges, and suitability for the client. Investment intermediaries focus on securities and funds rather than life assurance contracts, and a deposit broker handles deposit products. So for advising on a PRSA, the appropriate authorisation is as an insurance intermediary. If someone held both authorisations, they could cover both areas, but the specific ruling for PRSA advice aligns with insurance intermediary status.