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FAQ (Frequently Asked Questions)

  1. I want to get my Life Insurance Agent License, what do I have to do?
  2. The LLQP sounds like a really "heavy course", is it?
  3. You keep talking about two exams, what are they?
  4. What is the passing mark for each of the exams?
  5. Why the difference in marks?
  6. I have heard horror stories of people writing the exam 7 or 8 times before they pass it. Is that true?
  7. When I get Certified, do I have to write the LLQP exam immediately?
  8. A friend took the course last year, can I just use his books and pay for the exams only?
  9. I let my life insurance license lapse a few years back, what do I have to do to re-instate it?
  10. Can I get CE credits for taking the LLQP?
  11. A friend took one of your courses to prepare him to write a licensing exam and he failed. What Gives?
  12. I have read that you provide a Unique Guarantee for some of your courses.  Explain!
  13. I have 2 associates who want to take a course with me, what kind of discount will you give me?
  14. We’ve been asked who to contact.
  15. Who do I contact to join a life insurance industry trade association and to buy E&O insurance?
 

 1.   I want to get my Life Insurance Agent License, what do I have to do?

 

The Process is now quite involved and requires that you study and pass the Life License Qualifying Program or LLQP. You must purchase the course materials from an Approved LLQP Course Provider.
Our preferred provider is:
  The ILS Learning Corporation

 

The package you purchase, if you deal direct, will usually only contain: the main LLQP Textbook, a study guide and the Certification Exam; it will cost up to $500 plus taxes.

We work with The ILS Learning Corporation. The on-line package we offer is one of the most comprehensive available. It includes:

  The full ILS Learning Corporation/IATC Approved on-line course materials
  Streaming video of a facilitator who explains and guides you through the difficult sections of the course
  Pop-up background ‘slides’ to help further clarify difficult sections for you
  A series of challenging case studies, with clear explanations of the correct answers
  A series of exam type questions to help prepare for the certifications exam, with clear explanations of the correct answers
  The Certification Exam
  Your cost for this package is ONLY $299 plus GST (for an introductory period).

 

Once you have passed the Certification Exam, administered by the Provider, you must challenge the Provincial LLQP Exam. Arrangements for this exam are made by you with Durham College which is the Exam Administrator for Ontario and some other Provinces or your Provincial Insurance Council. The cost for this exam is approximately $95.

 

When you pass your Provincial LLQP Exam, you can apply for a license from the Financial Services Commission of Ontario or the Insurance Council in your province through your "Sponsoring Life Insurance Company".
 2.   The LLQP sounds like a really "heavy course", is it?
  The course materials consist of some 800 pages. We believe that a candidate should take from 6 to 8 weeks or more to read, understand and absorb the materials before attempting to challenge the Certification and LLQP Exams.  
  The Certification and LLQP exams will test your understanding and application of the information provided in the course materials.
 
 3.   You keep talking about two exams, what are they?
  First you need to pass the Certification Exam which is administered by your "Provider" - the purpose of this is to Certify to the regulator that you have completed the course of studies and that you know the material well enough to be able to challenge the Provincial LLQP Exam. The ILS Learning Corporation’s Certification Exam consists of 140 questions (including several case studies) and is written in 4 hours. The Certification is usually valid for a 6 month period.
  Once you have been "certified" you can then apply to write the Provincial LLQP Exam, which also consists of 140 questions and is written in 4 hours. When you pass this exam you are then permitted to apply for a Life Insurance License in most provinces (except Quebec). It is essential that you know, if you fail the Provincial LLQP Exam three times, you must then “sit out” for a period of six months before attempting the exam again.
 
 4.   What is the passing mark for each of the exams?
  The passing mark for The ILS/IATC Certification Exam is 75%
  The passing mark for the Provincial LLQP Exam is 60%.
 
 5.   Why the difference in marks?
  The theory is that if you pass the Certification exam with a mark greater that 75% then your chances of passing the LLQP Exam are materially increased.
 
 6.   I have heard horror stories of people writing the exam 7 or 8 times before they  pass it. Is that true?
  Sure it happens, but they are clearly the exception. In fact, we recently heard of one person who was writing the Certification Exam for the 17th time. Unbelievable, but true and somewhat sad! We believe that if you have to write either of the exams more than 3 or 4 times that you should perhaps explore employment opportunities in a less challenging field!
  In fact, we have recently been informed that in Ontario, you will only be able to re-write the LLQP exam twice before "sitting out" for a 6 month period. In the real world that means that you will have to register in the full program and re-certify before being allowed to re-write the exam.
 
 7.   When I get Certified, do I have to write the LLQP exam immediately?
  We strongly recommend that you write your LLQP within of week or 10-days of being certified. You should know that most of the LLQP providers limit the validity of their Certifications to 180 days.
  In any event, we strongly recommend that you not take more than 8 months from your initial registration in the program to the time when you finally pass the LLQP.
 
 8.   A friend took the course last year, can I just use his books and pay for the exams only?
  In a word: NO.
  The course materials are constantly updated and a year-old version will be seriously out of date. You are required to purchase a book and exam package from an Approved Provider.
 
 9.   I let my life insurance license lapse a few years back, what do I have to do to re-instate it?
  That depends!
  If you lapsed the license less that 2 years ago, you can usually re-instate it by contacting your former sponsoring Life Company, your Provincial Insurance Council or FSCO in Ontario.
  If the lapse occurred more than two years ago, based on our reading of the regulations, you will have to go through the new licensing regime - The LLQP and effectively start all over again.
 
 10.   Can I get CE credits for taking the LLQP?
  We provide 30 CE Credits for successful completion of the LLQP Program. However, you should check their validity with you Company’s Compliance Department.
 
 11.   A friend took one of your courses to prepare him to write a licensing exam and he failed. What Gives?
  It simple, taking any course of this type is not a “free ride” to a passing grade. You have to do the work, there are no shortcuts or magic bullets that will ensure a pass.
  We maintain that taking a course with us will materially improve your chances of passing - assuming you have done the work beforehand.
 
 12.   I have read that you provide a Unique Guarantee for some of your courses.  Explain!
  We are so confident that when you use the guaranteed products that “you simply can’t fail the exam if you use them as directed and do the work. If you don’t pass the exam we will refund your tuition fee”. Simply fax us a copy of the notice you receive advising you of your failing mark with a note requesting the refund and we’ll send you a cheque by mail. It’s as simple as that. How can you go wrong?
 
 13.  I have 2 associates who want to take a course with me, what kind of discount will you give me?
  There is no discount for 3 persons!
  Small discounts usually apply for groups of 10 or more attending the same course
  Naturally, we offer very large clients discounts for their personnel.
 
 14.   We’ve been asked who to contact…
  To book a Supplemental LLQP Certification Exam contact:
 

If your provider is ILS Leaning Corporation call them at 1-866-701-2914 to make arrangements, or

Your the provider who provided you the Approved Course materials.
   
  To book your LLQP Provincial Exam in Ontario contact:
 

In Ontario www.OntarioInsuranceTesting.ca

Outside Ontario, your Provincial Insurance Council.
   
  To enquire about your Life License contact:
 

Your Life Insurance Company’s Contracting & Licensing Department,

The Financial Services Commission of Ontario at: 416-250-7250 or 800-668-0128, or

The Insurance Council in your Province of Residence.
 
 15.   Who do I contact to join a life insurance industry trade association and to buy E&O insurance?
  We recommend:
 
The Independent Financial Brokers of Canada
200 - 4284 Village Court
Mississauga, Ontario L4Z 1S2
Tel: 905-279-2727 or 888-654-3333
Fax: 905-276-7295
www.ifbc.ca
 

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