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Student Reference Guide

A brief summary of information most frequently requested regarding IBANS courses.

Fundamentals of Insurance

Exam Format: 100 multiple choice questions.

The exam for the Fundamentals of Insurance is coordinated through the Office of the Superintendent of Insurance.  An exam form will come with your textbook.  Please complete and forward the form directly to the Office of the Superintendent.

Time Allowed: 2 hours

Passing Mark: 75%

Cost: $135 + HST (IBANS members), $165 + HST (non-members)

Registration forms may be obtained on this site or by contacting our Professional Development Coordinator.

Canadian Accredited Insurance Broker (CAIB)

Exam Format: CAIB 1, 2 & 3: definitions, multiple choice and short answer; CAIB 4: short answer only.

Time Allowed: 3.5 hours

Passing Mark: 60%

Exam Results: Exam results are sent by email to each student.  Full payment must be received before a student will receive either their mark or transcript.

Costs:  

  • Self-Study: $525 + HST per module (IBANS members), $800 + HST per module (non-members)
  • Immersion: $1080 + HST per course (IBANS members), $1355 + HST per course (non-members). Please note that this fee does not include hotel accomodations. IBANS reserves the right to cancel an Immersion if an insufficient number of students are registered
  • Re-Write Fees: $100 + HST (IBANS members). $150 + HST (non-members)

Registration forms may be obtained on this site or by contacting our Professional Development Coordinator. It is very important that the brokerage listed on the registration form is the brokerage that the student works at, and not the head office location, as this information is used for exam location planning.

 ** Students must present a valid photo ID when writing an exam for IBANS.  Students who do not present a valid photo ID will not be permited to write their exam.**

General License in Nova Scotia

To obtain a General License in Nova Scotia a student may complete the Fundamentals of Insurance, or the first module of the CAIB program (CAIB 1).

Exam Locations

In accordance with IBANS policy:

  • the maximum number of exam locations is 8 (eight) throughout the province
  • selection of sites will be based on the number of students writing and the ability to secure sufficent space/suitable proctor
  • no student will be allowed to write an exam in their own brokerage.

The Professional Development Coordinator will notify students of the site they are to write in advance of the exam.

No-show Fee

This fee applies to any student who fails to attend a scheduled examination without valid documentatin (medical, family emergency). The fee is $100.00. 

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