Insurance Licensing in PEI
Give yourself the best chance of success in your licensing exam.
The Insurance Institute is a trusted source of education for the p&c industry in Canada, and we want to ensure that new entrants to our industry are well-prepared.
Level 1 Licensing Examination Update
The Insurance Institute of PEI is now offering level 1 licensing examinations in an online virtual proctor format to anyone who has participated in either our self-study, online, or in-class courses. The main priority of the Institute is the health and safety of our students and members. We cannot accommodate in-person proctoring at this time.
Virtual proctoring involves the installation of software on a candidate’s laptop/computer and use of a webcam, among other requirements. The virtual proctor closely monitors candidate activity during the exam.
Online licensing exams are subject to an additional fee, per candidate, per attempt and are subject to the IIPEI Rules and regulations.
Virtual proctoring has certain system requirements – please review them on our IIC site: System requirements.
Students must have a computer with access to the internet and a webcam.
Once you’ve reviewed the system requirements and you find your computer meets the specifications, you are ready to contact us to register.
Online exam availability is limited, and timeslots are reserved on a first-come, first-served basis.
If you are unsuccessful with your exam and need to rewrite, you will need to get in touch to re-start the process. Please note, the earlier in the session you book, the more likely we will be able to get you registered for a later date in the same session.
We provide everything you need to get your PEI General Insurance Level One Licence - including the study materials, course and the exam.
How do we help you get ready for licensing?
Watch our short video to find out.
Top reasons to choose our licensing course materials and exam:
• Tailored content. The content for this course has been specially selected to meet the direct knowledge requirements for general insurance level one agents and brokers in PEI.
• Practical knowledge. You will be able to use the knowledge from our course to be highly successful in a brokerage/agency setting, which will enable you to build a solid foundation for a great career.
• Online tutorial with practice multiple choice questions. Every part of this licensing course is designed to prepare you for success on your licensing exam.
• Flexible formats. We know you’re busy, so we are pleased to offer our licensing course in two different learning formats to suit your needs.
• Brand-new, relevant exam. The study materials you receive are closely aligned to our accompanying exam, which you'll also take through the Insurance Institute of PEI as part of this course.
• Membership is included. The cost of our course includes membership with the Insurance Institute of PEI, your trusted local resource for insurance education and professional development.
• Credit towards the CIP Program. Once you've passed our licensing exam and received the provincial license, you will be eligible for credit towards the highly-recognized CIP designation program.
Ready to get started?
IMPORTANT: We've updated our Level 1 licensing study materials.
As of December 1, 2020, you're studying from completely updated and enhanced licensing materials. Respected industry experts and adult learning specialists played key roles in this update. You’ll benefit from the latest, most relevant content that reflects important changes to the insurance industry.
ABOUT OUR LICENSING COURSE
The cost is competitive, and includes:
1. The materials designed to help you pass our exam:
• Course texts (General Insurance Essentials: Part 1 (2020 edition), General Insurance Essentials: Part 2 (2020 edition) and the Atlantic Canada Automobile Insurance Licensing Supplement).
• Model policy wordings (The Comprehensive Homeowner, Tenant, Condominium Unit Owner Package Policy and PEI Standard Automobile Policy S.P.F. No. 1).
• Online tutorial that's based on your study materials with practice multiple choice questions and a glossary of the many insurance terms you need to know.
For more information, download our PEI General Level One Licensing Course Outline.
2. The exam itself, which you will sit through the Insurance Institute of PEI.
Please note that should you need to re-write your exam, there will be an additional fee charged.
3. Membership with the Insurance Institute of PEI for the remainder of the current membership year.
Membership provides you with access to our designations that are recognized by insurance industry employers, as well as local professional development and networking opportunities. You'll also receive regular emails with industry job listings. As a member, you are making an investment in your career and the p&c insurance profession. Learn more about the benefits of membership.
What are the learning formats offered for this course?
1. Self-study kit - our course materials are presented as a self-directed learning kit to help you prepare for our IIC General Licensing (OTL) exam. This format is perfect for individuals who:
• Would like to be licensed as soon as possible,
• Prefer independent study,
• Need to be able to schedule studying to suit busy professional and personal commitments. Purchase our self-study kit.
2. One-day Licensing tutorial - our tutorial is offered in conjunction with our self-study kit and provides supplementary help from our bank of experienced and trusted instructors to help prepare for your IIC General Licensing (OTL) exam. This tutorial is perfect if you:
• Have purchased a self-study kit and would like a boost before your exam date,
• Have been unsuccessful with previous attempts for your license,
• Are a company who has a group of employees for whom you’d like extra help before their exams.
* Contact Lisa Leblanc, IIPEI Licensing Coordinator at 902-718-6169 or email@example.com to find out more information on our tutorials.
3. In-class Courses - due to COVID-19 restrictions, our in-class courses are now offered in a virtual format with a live instructor, and are offered on an as needed basis. If you have staff who you would like to take a course, contact Lisa Leblanc, IIPEI Licensing Coordinator at 902-718-6169 or firstname.lastname@example.org to find out more information.
4. 5-day Vitual Level 1 Course - This virtual course is a condensed format. Students will move through the course material quite rapidly, and as such, should be fully committed to completing any assigned readings and/or homework in a timely fashion to support their learning. The expectation is that all textbook materials should be read before attending the first class. If you have staff who you would like to take a course, contact Lisa Leblanc, IIPEI Licensing Coordinator at 902-718-6169 or email@example.com to find out more information. (Purchase the course here.)
After completing this course, you will be able to do the following:
• Demonstrate knowledge of the insurance industry and the regulation of insurance, including the role and benefit of insurance to society and the roles of brokers, insurers, reinsurers, underwriters, adjusters, regulators, and industry associations.
• Distinguish insurance needs for a broad spectrum of personal and commercial customers and choose the most appropriate property, liability, and automobile insurance products, coverages, and policy structure, including applicable endorsements, to meet clients’ insurance needs.
Who should take this course?
This course is right for you if you are new to the insurance industry. There are no prerequisites to register in the Insurance Institute of PEI's General Insurance Level One licensing course.
Credit towards the CIP program
• Once you've passed our licensing exam and received the provincial license, you will be eligible for credit towards our highly-regarded Chartered Insurance Professional designation program. You'll get credit for C11: Principles and Practice of Insurance, the first course in the program - meaning you'll be one course closer to becoming a CIP. Learn more about this transfer credit.
STEPS TO BECOME A GENERAL AGENT IN PEI
1. Study and ensure you know the course material - whether you decide to purchase the self-study kit or attend an in-class course. If you purchase the self-study kit, please be aware that it is a self-directed course that requires you to learn at your own pace using the provided study materials and online resources. A tutor is available on the online tutorial to answer questions and/or concerns about course material. If you prefer extra learning support, please check with us for information about in-class course offerings.
2. Complete the practice exam on the online tutorial - the exam consists of 50 questions randomly selected from a bank of 100 questions, so you will find value in taking the exam more than once. If you successfully complete it and are confident in your mastery of the course material you are likely ready to write the general level one licensing exam.
3. Register for your exam by contacting the Insurance Institute of PEI.
4. Once you've passed our licensing exam, submit the letter confirming your passing grade, together with your completed licence application to the PEI Office of the Superintendent of Insurance for approval. *Note: Your exam result is good for three months. If you do not apply for your license within that time, it will be necessary to write the exam again.
5. Congratulations on becoming a General Level One Agent/Broker in PEI! If your goal is to maximize your potential in both your education and career, the Insurance Institute of PEI is here to assist you. Learn more.
Contact our Licensing Coordinator, Lisa Leblanc, at firstname.lastname@example.org