LLQP (Life Licence Qualification Program) Practice Exam · Question
An individual is planning to sell life insurance products in Ontario. Which regulatory body is primarily responsible for issuing and overseeing life insurance licenses in this province?
In Ontario, the Financial Services Regulatory Authority of Ontario (FSRA) is the provincial regulator responsible for licensing and regulating life insurance ag
Start free practice for LLQP (Life Licence Qualification Program) Practice Exam
374 questions · no signup required · 40 free questions per day
Question: An individual is planning to sell life insurance products in Ontario. Which regulatory body is primarily responsible for issuing and overseeing life insurance licenses in this province?
Answer options:
- Financial Consumer Agency of Canada (FCAC)
- Office of the Superintendent of Financial Institutions (OSFI) ✅ Financial Services Regulatory Authority of Ontario (FSRA)
- Canadian Life and Health Insurance Association (CLHIA)
Correct answer: Financial Services Regulatory Authority of Ontario (FSRA)
Explanation: In Ontario, the Financial Services Regulatory Authority of Ontario (FSRA) is the provincial regulator responsible for licensing and regulating life insurance agents. Each province and territory in Canada has its own regulatory body for insurance licensing.
Start free practice for LLQP (Life Licence Qualification Program) Practice Exam
374 questions · no signup required · 40 free questions per day
More about LLQP (Life Licence Qualification Program) Practice Exam
Related Questions
- A life insurance policy that offers lifelong coverage, a guaranteed death benefit, and a savings component tha
- Group benefits in Canada commonly include:
- Sarah, a 35-year-old marketing professional in Ontario, purchases a participating whole life insurance policy
- Mark, a 45-year-old business owner in British Columbia, has a Universal Life policy with a Level Cost of Insur
- A personal non-registered permanent life insurance policy on Liam, a 40-year-old engineer in Montreal, has acc
- Universal life is:
More for LLQP (Life Licence Qualification Program) Practice Exam candidates
Study guides
Question explanations
- A life insurance policy that offers lifelong coverage, a guaranteed death benefit, and a savings component tha
- Group benefits in Canada commonly include:
- Sarah, a 35-year-old marketing professional in Ontario, purchases a participating whole life insurance policy
- Mark, a 45-year-old business owner in British Columbia, has a Universal Life policy with a Level Cost of Insur
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free LLQP (Life Licence Qualification Program) Practice Exam Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.