In 2016, insurance regulators across Canada, including the Financial Services Commission of Ontario (FSCO), implemented a new standardized qualification program for insurance agents, professionals, and advisors. This initiative is known as the Life Licence Qualification Program (LLQP) and it replaced several different provincial educational standards with one common standard that is now being used across Canada.
Licensing is a two-step process. First, candidates must enrol with an approved course provider and second, register with the Canadian Insurance Participant Registry (CIPR). The course providers require candidates to successfully pass a series of online exams within a specified enrolment period. Upon successful completion of the course, the candidate will qualify to write the licensing exams with their provincial insurance regulator. The number of exams a candidate must complete is dependent on the licence they are looking to pursue. In general, candidates have one year to pass all the required exams.
About the LLQP Exam
The LLQP Exam has four modules that cover the core curriculum of the approved courses. It is administered by Durham College. The cost of the exam is $264, which allows one attempt at all four exam modules. Failures of any one module will require additional fees to rewrite the exam.
Exams are held throughout the year at specific dates, times, and locations. Candidates can register for any module they prefer, complete all four modules in one day or spread them over separate days and examination locations.
Exam schedules for Ontario and most other provinces can be found at the Durham College website, LLQP Exam Schedule. Registration to the exam can be found at LLQP Registration Durham College.
For candidates interested in licensing from other Canadian provinces, please refer to the Canadian Council of Insurance Regulators (CCIR) for the complete list of provincial regulators across Canada.