Certificates, Licensing and Designations

Includes questions about the FCIP, Advanced CIP, Risk Management Certificate Program, and LLQP.

I have a license or another designation; can I get credit for it?

Most provinces’ broker/agent licenses qualify for an exemption from the first course in the CIP program: C11 – Principles and Practice of Insurance. Other industry designations might also qualify for exemptions; for example, Canadian Accredited Insurance Broker (CAIB) graduates receive advanced standing, which provides even more incentive to broaden your skills, expand your knowledge and extend your network. With your CAIB license you are eligible for three credits to be applied to the CIP program: C11: Principles and Practice of Insurance, C130: Essential Skills for the Broker Agent, and an unspecified elective. Find out if you are eligible for these available CIP credits.

How do I apply for the FCIP Program?

If you are applying with a university degree or college diploma, your first step is to obtain a copy of your official transcript from the education institution you attended. Transcripts can take a few weeks to arrive, so we recommend allowing plenty of lead time to ensure you meet the admission and registration deadlines.

Once you have your transcript, log into your account and submit your application. You will be required to submit your official transcript from your Canadian university and pay the applicable admission fees to the Insurance Institute for review of your application. If you are using the College Diploma Route Admission, you will also need to submit grade results for the five required university continuing education courses. Written confirmation of your status will be sent to you within two weeks of the Insurance Institute’s receipt of your admission documents. Please visit the FCIP Program page for more information.

If I have a degree outside of Canada, will I qualify for the FCIP Program?

Yes, as long as your degree is reviewed by a comparative education service, such as the Comparative Education Service at the University of Toronto School of Continuing Studies, or the World Education Service. Once the review is completed, you can submit this along with your transcript using the online application on the FCIP admission page. Students find the review process from the comparative education services varies; therefore, we recommended that you contact them to determine the review time frames.

What do I need to do to apply for FCIP once completing the Advanced CIP?

You can apply for admission to the FCIP program if you have completed the Advanced CIP and have five years of relevant work experience. The next step is to apply for admission to the FCIP program. Once you have been admitted to the program, you may register for your first FCIP courses within the applicable registration periods. Please visit the FCIP program admission page for more detailed information.

How is the FCIP Program taught?

All FCIP courses are delivered by web-enabled distance learning, supported by hard-copy materials, virtual group discussions and the guidance of an experienced facilitator. This convenient e-learning format gives you the flexibility to fit the FCIP course work around your own schedule.

For each course, you will receive a package containing your textbook(s), additional readings and a course guide. You will also be given a login for the course web page so you can view presentations, submit assignments, receive feedback, access helpful resources, and interact online with other candidates. The online courses are 10 to 12 weeks long, and students tell us they devote approximately 15 hours per week to be keep up with the readings, fully participate online and complete the assignments.

Why do I need my undergraduate degree to apply for the FCIP program?

The FCIP program is the industry’s most senior qualification, and is positioned at a post-graduate university level. The curriculum is designed to give you a business education with a p&c focus, using a combination of academic and real-world learning application.

If you are a CIP graduate who doesn't meet the educational admission requirements of the FCIP, the Advanced CIP program is a good option for you. It supports the development of knowledge and skills required in the FCIP program, including business and financial acumen, strategic management, critical thinking, and communication skills.

I am aware that I get two credits for completing the Risk Management Certificate at the Insurance Institute. Which courses are they for?

Upon completion of all three Risk Management Certificate courses with the Institute, you will receive credit for two elective courses in the Chartered Insurance Professional (CIP) designation program. The two elective credits will be unspecified, meaning they do not represent any specific CIP elective.

If I take risk management courses at another educational institution, do I still receive the credits for the CIP designation as above?

No, you can only receive the credits if you take all three courses from the Risk Management Certificate program – but there is good reason for this. The property and casualty aspect of risk has been integrated into the courses, giving them a unique insurance focus. This integration means that these courses are compatible with electives from the CIP program – something that can’t be guaranteed with other institutions. You want to receive the fullness of learning from your CIP designation, which is why credit is only allowed from Institute courses in this instance.

What learning options are available for the Risk Management courses?

Currently, the Risk Management courses are only being offered in a self-directed facilitated online learning format. There are no weekly live classes—instead, all students follow the same weekly schedule for readings, assignments, and graded online interaction (participation).

Students tell us that they log into the course website at least twice a week to participate in graded activities. The course instructor grades the work and provides guidance throughout the course. Most students find they need to devote approximately six to eight hours per week to complete their readings, learning activities and discussion.

What learning options are available for the Advanced CIP courses?

Advanced CIP courses are available in a self-directed facilitated online learning format. There are no weekly live classes, but all students follow the same weekly schedule for readings, assignments, and graded online discussions. The weekly graded learning activities provide structure, yet leave you free to log in at hours that suit your needs. The course facilitator will also provide guidance and grades student work. Students tell us that they plan to be online at least twice a week to complete activities, in addition to their own reading and studying time. They’ve also told us they need approximately eight to ten hours per week to complete readings, learning activities and discussion.

Upon completion of the Advanced CIP Certificate program do I receive a designation?

This designation prepares CIP graduates for challenging opportunities in their field. Students who successfully complete the four Advanced CIP courses will be acknowledged at convocation with a diploma and permitted to use the post-nominal letters CIP (Adv).

What credit can I receive for the Life Licence Qualification Program? (LLQP)

Please note, the Insurance Institute no longer offers the LLQP program. However, upon successful completion of an LLQP program from another provider, alongside receipt of your Provincial Life Licence, you are eligible for credit in C66: Financial Service Essentials.