In all Canadian provinces aside from Ontario, Alberta, and Quebec, the CAIB 1 exam is used to pre-qualify people for the Level 1 insurance brokers license. This license enables you to practice insurance in your home province and get your first insurance job at a brokerage or insurance company.
On top of that, CAIB 1 is one of four exams you need to pass in order to get your CAIB Designation – a professional designation that shows a broker has completed a certain level of education. It’s a sign that you’re knowledgeable about insurance concepts and something employers look for.
These practice questions are designed to help you get ready for this important exam.
The CAIB 1 exam follows the same format as the CAIB 2 & 3 exams:
- 12 Key Terms: selected from about 80 possible key terms
- 10 Multiple Choice Questions
- 26 Short Answer Questions: these questions are worth about 3 marks each and form the bulk of the exam. This is also where students usually find trouble.
To prepare for this exam, it comes down to diligent study habits and practice, practice, practice until you know the information like the back of your hand and can apply it to answer real world questions.
Who needs these CAIB 1 Practice Questions?
We provide ~1000 CAIB 1 Practice Questions in varying formats to cover key terms, MCQ, and short answer questions. These questions are geared towards getting you ready for the real exam by getting you used to the types of questions they’re going to ask and the tricks they’re going to use.
Tax included. Discounts given if purchasing CAIB 2 & 3 as well.
Another option for Level 1 licensing for new brokers is the Fundamentals of Insurance exam.