To become a life insurance llqp license in Canada, you must complete and pass the llqp license. This course provides the foundational knowledge necessary to sell life insurance products. In addition, you must pass the provincial licensing exam administered by your chosen province’s insurance regulator, such as Ontario’s Financial Services Commission of Ontario (FSCO).
FSCO outlines what to expect from an LLQP exam: It is a written test with four 35-question modules that you must answer in an hour and fifteen minutes. There are multiple-choice answers for each question. Each module has different topics, but the modules share certain core concepts and principles. You can find sample exams from many LLQP providers, but make sure that your preparation is with an approved LLQP education provider. If not, your insurance license may be delayed.
Unlocking Career Opportunities: The Journey to Obtaining Your LLQP License
Once you have completed the LLQP course, your education provider will update your certification status in the Canadian Insurance Participant Registry (CIPR) account, which is created as part of your LLQP course enrolment. From there, you can register to write your provincial licencing exam through your chosen jurisdiction’s insurance regulator.
The LLQP course itself takes about 100 hours to complete, according to the Financial Services Regulatory Authority of Ontario. A company that wants to offer the course must receive national accreditation from CISRO, and then approval from a specific jurisdiction before it can begin offering the course. Once it is, the name of the course and a link to its website will be added to a list of approved courses on FSRA’s website.