Ontario Life Insurance Licensing Students Granted a Short Reprieve

FSCO extends deadline to December 31, 2002 to book life exam and January 31, 2003 to write exam

Toronto (December 19, 2002) Life licensing students in Ontario desperate to write their Level 1 life licence exam have been granted a reprieve from the regulator, the Financial Services Commission of Ontario (FSCO). Students are rushing to beat the December 31, 2002, deadline to write their Level 1 exam before the new Life Licensing Qualification Program (LLQP) takes effect January 1. Advocis is currently the exam provider in Ontario.

FSCO is responding to the unprecedented demand for examinations by allowing those that are registered to write an exam an extra 30 days to actually complete the process. Students must register to complete their exam by December 31, 2002, but will be allowed until January 31 to actually write the Level 1 exam, which, if passed, will grant the student a Level 1 life insurance licence.

“Basically, we�re like a store closing its doors at closing time, but FSCO is allowing us to stay open just long enough to satisfy every customer,” said Dave Traynor, vice-president of programs at Advocis. “Our phones have been ringing off the hook and we want to accommodate everyone�s request.”

Students wishing to write their Level 1 licensing exam must contact Advocis before December 31, 2002, to book their exam. Instructions for booking an exam are available on the Advocis Web site at www.advocis.ca. All exams must be completed by January 31, 2003. Once students obtain their Level 1 licence, they have two years to obtain their Level 2 licence. New entrants to the life licensing education system will study the LLQP, the new one-step licensing program that becomes mandatory in Ontario on January 1, 2003.

Advocis, a leader in life licensing education for many years, was the first to market its LLQP material. Students wishing to register for the LLQP to obtain their insurance licence can contact Advocis, or visit the Web site at www.advocis.ca.

Advocis, the largest professional association of insurance advisors, financial advisors, and financial planners in Canada, was created when the Canadian Association of Insurance and Financial Advisors (CAIFA) and the Canadian Association of Financial Planners (CAFP) voted to merge their associations in September 2002. Advocis members, gathered in 50 chapters, are represented in most major cities and towns across the country.

For more information about Advocis, please visit our Web site at www.advocis.com.