FCNB joins fight against LLQP cheats

New Brunswick’s Financial and Consumer Services Commission (FCNB) is taking a tougher stance on aspiring life agents taking the Life Licence Qualification Program (LLQP) exam.

The regulator said it has adopted a new exam administration policy that aims to curb cheating and to ensure that life agents are properly qualified.

Among other things, the new policy includes harsher sanctions for candidates who are caught cheating on the exam, longer wait periods between unsuccessful attempts at the exam, and tougher security procedures for exams being taken in-person and online.

“The modernization of the policy will improve the integrity of the examination process in New Brunswick and align with best practices across Canada,” the FCNB said in a release.

The province’s new approach is based on the new exam administration policy released last December by the Canadian Insurance Services Regulatory Organizations (CISRO) amid concerns about cheating on the exams.

Earlier this year, the Insurance Council of British Columbia (ICBC) and the Financial Services Regulatory Authority of Ontario also adopted the CISRO policy.

As of July 1, 2023, the ICBC and the Insurance Council of Manitoba no longer offer online LLQP exams, with the latter regulator citing “the security and integrity” of the process for its decision.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.