In the wake of reports of exam cheating, the Financial Services Regulatory Authority of Ontario (FSRA) is tightening test-taking procedures for aspiring life agents.
The regulator said the new test procedures will align with best practices nationally.
Among other things, FSRA will introduce tougher consequences for cheaters, require students to respond in writing to alleged breaches before they can retake the exam, and introduce a longer waiting period for candidates that repeatedly fail the Life Licence Qualification Program (LLQP) exam.
The regulator said it’s working with Durham College, which administers the LLQP exam in Ontario, “to ensure a smooth implementation of the new policy.”
“FSRA’s adoption of this policy is another step being taken to ensure that only qualified candidates can apply for a life insurance agent licence,” it said.
Last June, FSRA said it had received reports of cheating on the LLQP exam, and that, in response, it required certain candidates to begin taking the exam in person.
In December, the Canadian Insurance Services Regulatory Organizations (CISRO) introduced new guidance on exam administration that aimed to improve the fairness and integrity of testing procedures.
Among other things, that guidance addressed procedures for taking exams in person and online, policies for retaking exams, and consequences for misconduct and breaches of the testing protocols.