Fundamentals of Insurance
The Fundamentals of Insurance is recognized in most Canadian provinces as the premier pre-licensing course for beginning general insurance brokers.
Starting with the history of insurance, this course will guide you through definitions, functions, major classes of and the organization of insurance. Topics include; insurance contracts, the fire policy, residential and commercial property insurance, an introduction to liability insurance, accident and sickness insurance and ICBC's Autoplan insurance.
The Fundamentals of Insurance course is different from other courses offered. It is not an in-depth study of insurance wordings presently in use; it focuses primarily on the insurance needs of the consumer. You will follow the lives of the Butlers, a hypothetical family, who serves as an example to illustrate the workings of various insurance concepts. The intent of this strategy is to break down the barriers of learning that are inherent in technical or specialized disciplines such as insurance.
Licensing
Passing the Fundamentals of Insurance exam qualifies you to be licensable for a Level 1 General Insurance Salesperson's License in B.C.
Once you have completed the Fundamentals of Insurance, you may then attain your Level 2 License by completing CAIB
2 and CAIB 3.
Current Textbook
Fundamentals of Insurance - 2005 Edition
Exam Details
100 multiple-choice questions.
2½ hours to write the exam.
Pass mark 70%
Exam Re-write Policy
Depending on how many times you have written the exam previously, you might be subject to a waiting period. Please be aware that waiting periods are not a form of punishment. They are necessary to ensure your knowledge at the time of testing is accurately measured.
Second attempt. No waiting period.
Third attempt. Must be attempted after a waiting period of no less than 1 full month.
Fourth and subsequent attempts. Must be separated by a 6 month waiting period.
Contact
Contact Heather Polak regarding the Fundamentals of Insurance at 604-606-8005 or click here.
Self Study textbook
Exam in Lower Mainland
Exam outside Lower Mainland
One-Week Immersion Class
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