LLQP
To sell life and health insurance in Ontario you must pass the four LLQP exam modules: Ethics, Life Insurance, Accident and Sickness, and Segregated Funds and Annuities. Each module is a separate 75-minute multiple-choice exam, and you need 60% on each one. Since July 2026 the Ontario exams are in person only.
Official exam: LLQP Life Licence Qualification Exam — All Four Modules (Ontario), by Financial Services Regulatory Authority of Ontario (FSRA).
| Questions | Per module (scored): Ethics & Professional Practice 20; Life Insurance 30; Accident & Sickness 30; Segregated Funds & Annuities 30 |
|---|---|
| Time | 75 minutes |
| Pass mark | 60% on each module (modules are not averaged) (not published by the exam body; practice target) |
| Delivery | In person only in Ontario (Durham College). Online LLQP exams discontinued effective 2026-07-01; accommodations still available. |
| Fee | $66 per module (in person, paper or electronic), effective 2025-08-01 |
| Attempts | After a failed module: up to 3 supplemental attempts, 24-hour wait between attempts. Failing the 4th overall attempt = 1-year wait and the prerequisite course must be retaken. Licence application must be made within 1 year of first passing the exam. |
| Language | English, French |
What the exam covers
- Ethics, professional conduct and regulatory framework
- Needs analysis and client discovery
- Life insurance products, underwriting and claims
- Taxation of life insurance and annuities
- Accident and sickness: disability, critical illness, health and dental
- Group insurance and government benefit programs
- Segregated funds: guarantees, resets and creditor protection
- Annuities and registered plans (RRSP, RRIF, TFSA)
Sample questions
In our own words, from this exam area. Try five more on the home page.
An individual life policy has been in force for over two years while the insured is alive. In Ontario, when can the insurer still void it for non-disclosure?
- Only if there was fraud
- Any time a material fact was left out
- Only within five years of issue
- Never, even in cases of fraud
Show the answer
A. After two years, non-disclosure alone no longer lets the insurer void it, unless there was fraud.
A policy owner has named an irrevocable beneficiary who is still alive. What does the owner need to change that beneficiary?
- The beneficiary's consent
- Only a new will
- Only a signed form sent to the insurer
- Approval from FSRA
Show the answer
A. An irrevocable designation cannot be changed without the beneficiary's consent.
Questions about LLQP
Is this the real Financial Services Regulatory Authority of Ontario exam?
No. This is practice built to the published format of the official exam. The real exam is run by Financial Services Regulatory Authority of Ontario (FSRA).
What is the pass mark?
60% on each module (modules are not averaged) (not published by the exam body; practice target)
How long do I have access?
30 days from when your access is activated. Need more time? You can buy the course again.
When does it open?
Tap "Notify me when it opens" and we message you as soon as this course is ready.