The Financial Services Commission of Ontario (FSCO) has released a list of answers to frequently asked questions about the new Life Licence Qualification Program (LLQP) Course that will be available on Jan. 1, 2016
Among other things, the regulator notes that candidates cannot challenge the exam; anyone who wishes to write the LLQP exam must complete the LLQP course beforehand, although the exam date may be booked in advance.
As for the LLQP qualifying courses, FSCO points out that they are valid for one year from the date of completion. Should a candidate's course expire before the exam date, the regulator says it will not grant an extension. "You must successfully complete the LLQP course again, before you can write the LLQP exam," reads the document.
And what if someone has completed some but not all of the modules in a qualifying LLQP training course? May he or she write the exam for each of those modules? FSCO says the answer is no. Candidates must complete the entire LLPQ course before writing the exam, although they may book the exam date before completing the entire course.
Finally, what effect will the course update, which comes into effect in January, have on LLQP qualifying courses? "New LLQP courses have been developed to prepare students to write the updated LLQP exam that will be available in 2016," reads the FAQ. "If you are planning to write the LLQP exam in 2016, you need to select a training course for the updated LLQP. The current LLQP exam that is administered through Serco DES Inc. will not be available after January 1, 2016. The updated LLQP exam will be administered by Durham College."
The entire FAQ is available on the FSCO web site, as well as a list of LLQP course providers.
