Frequently Asked Questions - Insurance Institute of Canada by pengxuebo


									Frequently Asked Questions

For all general inquiries:

Hours:        Monday to Friday from 8 a.m. to 7 p.m. (EST)
Phone:        416-362-8586
Toll-free:    1-866-362-8585


Who marks the exams and how are they marked?
Institute exams are marked by experienced industry professionals who have a CIP or FCIP
designation. Markers are provided answer points as guidelines and, where appropriate, have the
discretion to consider valid answers not included in the answer points. Furthermore, the answers
for any given exam question in any exam period for all students across the country are marked by
the same person to ensure consistency.

Why can’t I get my exam answer book back?
Unlike a mid-term exam or quizzes and assignments, the final examination is not a learning
exercise for review and discussion. Instead, it is an evaluation tool for the assessment of
students’ overall knowledge, understanding and application of the course material. Since answer
books are not intended for review by students, comments are not made by markers inside them,
nor are there indications as to what information is correct or incorrect within answers. As a result,
the answer books would be of little value to students in determining where he/she did well or

How can I appeal an exam grade?
Three levels of appeal are available to students should they require confirmation of their grade or
further information on their performance. Re-calculation, re-assessment or re-evaluation offer
varying degrees of review and feedback. The fees charged for each service reflects the amount
of time, scrutiny and feedback provided by markers.


How is the Institute involved in licensing?
The Institute provides study material and examinations that are approved by provincial regulators
to qualify candidates for agent/broker, adjuster, and life licensing in most jurisdictions in Canada.
Click here for more information.

What is the difference between RIBO and OTL?
The Registered Insurance Brokers of Ontario (RIBO) is the self-regulatory body that governs
independent brokers in the province of Ontario. The Institute provides study material to prepare
for the RIBO Basic Broker license examination and also provides study material for other
provinces based on broker regulations.

The Other-Than-Life (OTL) agent license is regulated by the Financial Services Commission of
Ontario (FSCO). This license is required by anyone employed by an insurer dealing directly with
the insurance consumer. Sponsorship of the employer is required to qualify the candidate for the
licensing examination. The Institute provides study material and the OTL examination. Please
contact your local Ontario Chapter for more information.
Who is the provincial regulator of insurance in my province?
Click here for a listing of provincial regulators and Web sites.

Is the LLQP offered in-class?
In some cases, an LLQP class will be offered locally. Contact your local Institute or Chapter for

What is the LLQP?
The Life License Qualification Program (LLQP) is the required first step to become life licensed in
all provinces except Quebec. Upon successful completion of this program, the license candidate
is qualified to challenge the provincial licensing exam.


What are the benefits of becoming a member of my local Institute?
Membership in your local Insurance Institute guarantees advanced notice of the exciting activities
that are being offered in your neighbourhood through e-mail updates, mailings and a quarterly
newsletter. Educational seminars, social networking events and courses leading to our Chartered
Insurance Professional designation are just a few examples of what we offer.

What do I receive as a new member of the Institute?
As a new member you will receive an introductory letter containing your membership card. Your
membership card has your membership ID number on it, so you can gain access to all
information on the Institute Web site. Please view our annual report and member information to
learn more about the value of your membership.

Why are membership fees not prorated?
Membership fees are designed to support the costs affiliated with the administrative process
required to set up new members. As a result, the fee cannot be prorated during initial setup.

FCIP Program

I am currently taking the CIP Program, but have previously completed university courses.
Can I transfer these to the FCIP now?
You must complete the CIP Program first. Then you may apply for advanced standing credits. For
more information, see page 6 of the Fellowship syllabus.

Where can I enrol in FCIP courses?
You would register with a Canadian university listed in the equivalency charts found in the
Fellowship syllabus. Once you are confirmed registered with the university, you would then
register with us within 30 days. Click here to register.

What is the Institute’s role in the FCIP courses?
See 1st page in Fellowship syllabus “Take Up the Challenge” – 3rd paragraph.

How do I transfer my Advanced Standing credits?
See page 6 in Fellowship syllabus “Advanced Standing Credits”.

Where can I find the university course equivalency charts?
You may view the university equivalency chart by clicking here.

How do I apply for a CAIB, IAO, RIBO credit?
Click here to view Credits/Exemptions.

How do I transfer my overseas designations, if possible, to the CIP/FCIP Program?
Please forward certified copies of your diplomas and any supporting documentation and we will
advise you of our accreditation policy and whether you would be granted any credits to either the
CIP or FCIP program.


Where will the Institute's LLQP be offered?
In all provinces which have given the Institute's approval to offer the LLQP. The program will also
be offered in an in-class setting at the various Insurance Institutes and via distance-learning.

Will the Institute's LLQP manual cover the full or restricted program?
It will cover the full program.

Will the successful completion of the Institute's LLQP examination give the student the
right to challenge the provincial regulatory exam?

How long does the course take?
Approximately 100 hours of self-study.

Will examinations be available on demand?

How do I register for distance learning?
Click here for more information.

If you have any further questions, please direct inquiries to

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