Individuals who hold a CAIB or CIP designation may qualify for an exemption from the Unrestricted Technical exam. To apply for an exemption, individuals must forward to the Qualification & Registration Department:

  • confirmation of the designation (individuals with the CIP designation must also include a copy of their transcript to verify sufficient commercial lines knowledge)
  • a letter of support from the Principal Broker of the firm

About the Examination

The examination for the “Unrestricted – Technical Only” registration is three (3) hours in length and is comprised of three (3) parts. A minimum of 60% in each part and an overall total of 75% must be obtained to qualify successfully. Failure to obtain the minimum in each of the three (3) parts would require a rewrite of ALL three (3) parts of the examination.

The examination was developed by a team of experienced insurance professionals. It is revised bi-annually and with any legislative changes to the insurance industry.

Parts

1. Insurance Concepts, Principles & Practices
Style of Answer: Multiple Choice
Total Markers: 20
60% Pass Mark: 12
Exam Content: 20%

2. Case Study
Style of Answer: Narrative
Total Markers: 60
60% Pass Mark: 36
Exam Content: 60%

3. Forms Recognition
Style of Answer: Narrative
Total Markers: 20
60% Pass Mark: 12
Exam Content: 20%

Sample Case Study Examination Question

General information is provided about the risk which is to be studied.

Question:

Describe briefly three (3) property coverage features you would recommend for this risk. (6 marks)

Analyze the Question:

  • Three (3) property coverage features must be stated.
  • A brief description of each one is required - it is not sufficient just to list them.
  • The mark value is 6 so each feature is worth 2 marks.

An appropriate Answer:

  • Replacement Cost Endorsement - to eliminate depreciation from the settlement of an insured loss, provided the insured repairs or replaces the damaged property.
  • Blanket Coverage on Buildings, Equipment and Stock - instead of a specific sum insured on each item separately, it provides for a single combined total sum insured. This allows for fluctuations in value to be fully covered up to the total sum insured.
  • Stated Amount Co-Insurance - the policy Co-Insurance condition is met by insuring to a stated amount rather than to a percentage of value. This is easier to comply with, particularly if insurable value change.

Self-Study Resources - Unrestricted Technical Exam

Individuals who prefer to study on their own may find the following resources useful:

"C130 Essential Skills for the Insurance Broker and Agent", "C131 Advanced Skills for the Insurance Broker and Agent", "C81 & C82 General Insurance Essentials" and the "Dictionary of Insurance" available from:

The Insurance Institute of Ontario
18 King Street East, 16th Floor
Toronto, Ontario M5C 1C4
Telephone: (416) 362-8586
Fax: (416) 362-1126
www.insuranceinstitute.ca

"C.A.I.B. Volume II & III" available from:

I.B.A.O. (Insurance Brokers Association of Ontario)
1 Eglinton Avenue East, Suite 700
Toronto, Ontario M4P 3A1
Telephone: (416) 488-7422 / 1-800-268-8845
Fax: (416) 488-7526
www.ibao.org

"O.M.I.A. Farm Policy" (only if choosing a Farm case study) available from:

RIBO
401 Bay Street, Suite 1200, Box 45
Toronto, Ontario M5H 2Y4
Telephone: (416) 365-1900 / 1-800-265-3097
Fax: (416) 365-7664