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LLQP Insurance Course (LIC)
(Prerequisite course to qualify to write the provincial Life License Qualification Program (LLQP) examination)

Conquer The World Of Insurance

The LLQP Insurance Course covers the curriculum prescribed by the Canadian Council of Insurance Regulators in a comprehensive yet concise manner. You'll gain a comprehensive knowledge of the insurance industry, products and business.

The following four competencies comprise the LLQP:

  • Develop an ethical professional practice, in compliance with the rules governing the life insurance sector, insurance of persons sector (including group insurance of persons)
  • Recommend individual and group life insurance products adapted to the client’s needs and situation
  • Recommend individual and group accident and sickness insurance products adapted to the client’s needs and situation
  • Recommend segregated funds, individual annuities and group pension plans adapted to the client’s needs and situation

These topics are covered in depth in the following modules :

  • Life Insurance
  • Accident and Sickness Insurance
  • Segregated Funds and Annuities
  • Ethics and Professional Practice
  • Life Insurance Taxation Principles (Optional Module) – This content is not examinable.

This is a modular course with corresponding online examinations for each module. It has been designed to reflect the content and examination requirements set out within the provincial regulators’ curriculum document

Note : The provincial LLQP examination will be an open book format and all candidates will be provided with an electronic copy of the modules at the exam centre.

Learn about:

  • Life insurance products including term life, permanent life, universal life
  • Disability, accident and sickness insurance
  • Risk management and needs analysis
  • Underwriting, pricing, claims; life insurance applications, policies, the agent role
  • Investment products such as common shares, debt securities,  mutual funds and segregated funds
  • Canadian tax system, investment income and tax strategies
  • Savings and retirement plans such as RRSPs, TFSAs, RESPs, RRIFs, OAS, CPP/QPP, Individual annuities and group pension plans
  • Legal context and role of the organizations that protect clients
  • Insurance ethics and professional practice considerations

What's included in the LLQP Insurance Course:

  • An electronic textbook consisting of these modules: Life Insurance; Segregated Funds & Annuities; Accident and Sickness; Ethics & Professional Practice (one module for Common Law and one module for Civil Code – you are given the choice of taking one or both for examination purposes)
  • Extensive online learning activities such as client scenarios, practice exercises and quizzes
  • A bonus Taxation module with online learning activities (this content is not tested on the exam however contains basic pre-requisite taxation knowledge that you will need to successfully complete the course)
  • Access to assistance from CSI's academic support specialists

Note: All students are required to register on the regulatorís national registry (CIPR) upon enrolment into this course. You will not be able to access course material until your CIPR registration has been completed. Details on how to register can be found in your enrolment letter as well as when you sign into your online course. CSI will be notified by CIPR as soon as your registration has been completed and your course materials will then be released the same or next business day.

Approximate Hours of Study**
Hours of Study 100 - 145 hours

** In order to provide some guidance to course participants as to the length of time it will take to be sufficiently prepared to write the examinations, CSI has prepared this estimate of the number of hours an average participant could possibly expect to spend studying for a course. Please note that these are only recommended hours of study developed based on research and our course content, however, this does not mean that some students with exceptional backgrounds would not take less time than recommended or that students with no background at all in finance would not take longer than the maximum.

COURSE ASSESSMENT

Each module is assessed separately and corresponds with the LLQP licensing examination requirements.

You need a minimum score of 60% on each module to pass the exam (there are no assignments). If necessary, you have up to three attempts at each module’s exam.

If you plan to sit for a provincial LLQP examination for a life insurance license,  you must first complete all of the modules required within the LLQP Insurance Course.

Successful completion of the LLQP Insurance Course entitles you to write the provincial LLQP exam in order to obtain a life insurance license.

You have up to one year after successfully completing all the modular exams to sit for the corresponding modular provincial licensing exams. However, it is recommended that you sit for the corresponding LLQP exam soon after successful completion of the course, as your knowledge and understanding of the subject matter will be fresh and current.

EXAM STRUCTURE (LLQP Insurance Course)
(weightings are approximate)
 
Life insurance Module
Assess the client’s needs and situation 35%
Analyze the available products that meet the client’s needs 30%
Implement a recommendation adapted to the client’s needs and situation 25%
Provide customer service during the validity period of the coverage 10%
Accident and Sickness Module
Assess the client’s needs and situation 35%
Analyze the available products that meet the client’s needs 30%
Implement a recommendation adapted to the client’s needs and situation 25%
Provide customer service during the validity period of the coverage 10%
Segregated Funds and Annuities Module
Assess the client’s needs and situation 35%
Analyze the available products that meet the client’s needs 30%
Implement a recommendation adapted to the client’s needs and situation 25%
Provide customer service during the validity period of the coverage 10%
Ethics and Professional Practice  Module (For All Provinces & Territories except Quebec)
Integrate into practice the legal aspects of insurance and annuity contracts  60%
Integrate into practice the rules governing the activities of life insurance 40%
Ethics and Professional Practice Module (Quebec only )
Understand the legal framework governing insurance of persons 20%
Integrate into practice the legal aspects of insurance and annuity contracts 40%
Integrate into practice the rules governing the activities of representatives in insurance of persons 40%
EXAM FORMAT  
Exam 1 per module
Exam Format On-line
Exam Length

90 minutes for Life Insurance
90 minutes for Accident and Sickness
90 minutes for Annuities
90 minutes Segregated Funds
60 minutes for Ethics and Professional Practice

Question Format Multiple Choice
Questions Per Exam 50 questions for all exams (excluding Ethics & Professional Practice)
30 questions for Ethics & Professional Practice
Attempts Allowed Per Exam 3 (per module)
Passing Grade 60%
Assignments None
ENROLMENT PERIOD  
Enrolment Period 1 year
COURSE COMPLETION NOTICE

On successful completion of all modules, you will be able to download a Notice of Course Completion through your student profile. This will remain on your profile as formal indication of course completion.

CSI will enter your results into CIPR the insurance regulator’s national registry of individuals that confirms final examination results). Once your successful results are entered into CIPR you may apply with your provincial regulator to write the appropriate examination(s). Students will be provided with details on how to register with CIPR upon enrolment.

† This course can be extended by 1 year provided you have not exceeded the attempts allowed for each exam. Extension fees apply. Your enrolment period can only be extended one time.

Important: During a student's enrolment period, CSI may update this course. In that case, details about the update and how it may affect students will be posted online via My CSI. Students are held responsible for and are examinable on the content in the course textbook(s) provided at the time of enrollment unless stated otherwise in My CSI. Students are encouraged to check My CSI regularly throughout their enrolment period.

Continuing Education (CE) Credits

Continuing education information on this new course will be available for publication in September once all applications have been submitted and approved by the organizations that oversee continuing education.