In all Canadian provinces aside from Ontario, Alberta, and Quebec, the Fundamentals of Insurance 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.
The Fundamentals of Insurance exam format is pretty straightforward – there are 100 Multiple Choice Questions. These practice questions are designed to help you get ready for this important exam.
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. Another important aspect is to know the tricks that they will use to confuse you.
- They will include details that seem important but aren’t and vice-versa. For example, they might talk about a Homeowners Comprehensive form when discussing a loss caused by fire. All Homeowners policies cover fire so this might not be an important detail.
- They will use double negatives like “not excluded”. To deal with this, try to translate them into positives like “covered”.
- In the multiple choice options, 2 of them will seem correct but only 1 is the “best” or “most correct” answer.
Who needs these Fundamentals of Insurance Practice Questions?
If you’re like most students, this will be your first insurance exam and you might not know what to expect. It’s hard to know what topics you should focus on or whether you’re even ready to write the exam or not.
We provide ~1000 Fundamentals of Insurance Practice Questions 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. Review these questions and face the exam with confidence.
Tax included. Discounts given if purchasing CAIB 2 & 3 as well.